Issue 3

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This is a regular publication of

Cuervo Appraisers newsbits, reminders and important notices.

ISSUE III

MARCH 31, 2008

Miner gy Lauds CAI Quick Action CAI Head Office received last 16 March 2008, a faxed letter from Mindanao Energy Systems, Inc. (MINERGY) thru its Senior Vice President William U. Lim who extended their gratitude to CAI for giving them the opportunity to justify their side on the impairment issue raised by SGV on MINERGY and Bubunawan assets. This resulted to some adjustments in our appraisal report which resolved the negative issues which may have resulted to unfavorable financial reports of their companies. In the same letter, they expressed appreciation to our Technical Managers, Engrs. Amando Chua and Ronillo Catapang, who took time out to meet with them and SGV. The meeting proved to be educational for MINERGY as they realized how important the appraisal activity is to their companies. According to their Senior VP, Mr. Lim, the discussion likewise “gave us some knowledge on the implementation of the International Reporting Standards to the Philippine setting, not only on the financials but also on the asset appraisal.” Our quick and timely response to our client’ s needs has always been and will always be one of our major thrusts that CAI Management cannot emphasize more than enough to nurture our business partnership not only with our existing clients, but also with our prospective clients as well. CAI Management salutes our Technical Managers, Bebot Chua and Ronnie Catapang for a job well done. We encourage you to pass on this virtue of running the extra mile for our clients at all times to your staff.

CAI President Visits Cebu Contributed by Allan Aquino

http://www.cuer voappr aisers.com.ph

CAI Family Corner Welcome our New Hires – Fernando “ Ferdy”R. Valdivia joined the CAI Family 12 March 2008 as the new Marketing Manager. Ferdy believes the team can soar to heights that will boost Company’ s sales. To assist Ferdy with the Marketing documentation and other needs of the Marketing Division is Anna Marie R. Consulta, Marketing Department Secretary, hired 17 March 2008. Congratulations to the following who have successfully completed their probationary period – Leoncio D. Llamanzares Account Manager January 16 Liezl B. Arellano Personnel Clerk March 11 Jocelyn D. Lazaro Junior Proofreader March 13

CAI Turns-over Valuation Report to ACMDC CAI recently turned-over its valuation report of Atlas Consolidated Mining and Development Corporation (ACMDC). The mining firm is one of the country’ s forerunners in the mining industry with focused interest in copper, nickel, gold, mineral explorations and water resources. The partnership is seen as a perfect coming together given that CAI has a long track record of asset valuation in the mining industry covering the valuation of fixed assets on- and off-site, as well as valuation of mining rights based on the client’ s independent geologist’ s report prepared in accordance with the Joint Ore Reserves Committee (JORC) Standards.

March 18, 2008 was a red-letter day for all of us at CAI Cebu Branch Office as we prepared to give our first CAI lady president, Ms. Chato, a warm welcome on her maiden visit to our office at the 10th floor of Keppel Bldg. along the Cebu Business District. As the Cebu Branch Manager-host, I escorted Ms. Chato from the building lobby to our office where she exclaimed appreciation over our backdrop and the Company’ s Name at the door entrance. Inside the office, she was greeted by the entire Cebu Staff with whom she exchanged a handshake with each of them as I introduced them individually to her. Giving her a tour of the Cebu office, Ms. Chato checked on each employee’ s work place, giving her observation and advice on how to keep the work place neat and orderly, conducive to a more productive work in pursuit of the 5S Program. She likewise suggested the use of steel cabinets to safekeep current appraisal reports and affordable blinds to shut out the glaring sunlight. Having met all the Cebu staff and engaged in small talk with each of them, Ms. Chato handed to me the regularization contracts of Alameda, Aquino, Garma and Lafuente for their respective signatures. She also personally brought the good news of Mary Shown during the turnover are, seated from left, CAI Chairman Jane M. Brusas’ and Anthony S. Fernandez’ promotions to Branch Ramon C. F. Cuervo III, President Charito Cole-Alfaro, ACMDC Accountant and Assistant Manager, respectively, effective April 1, Vice President Adrian Ramos and Senior VP for Operations 2008. Constante P. Bumanglag. Standing at the back are CAI Marketing Our president’ s branch visit was a very fruitful and productive one Manager Benigno Ignacio, Jr. and ACMDC Legal Counsel Atty. as we were given the opportunity to listen and appreciate first-hand Carmen-Rose A. Basallo-Estampador. her explanation of the Balance Score Cards, its mechanics, objectives and benefits. Personally, her visit richly benefited me since Ms. Chato was able to impart helpful tips and proven directions in scouting for more clients and nurturing a healthy client relationship that will ensure our continuing service for their asset valuation needs. Moreover, she imparted the basic questions, considerations, and procedures we need to keep in mind when computing the proposed fee of the project on hand while at the same time uncovering monitoring tools that will ensure compliance with expected mandays vs. staff productivity and project profitability. Ms. Chato’ s branch visit was capped with a dinner she hosted for all CAI Cebu staff where she got to know more of us in an informal and more relaxed atmosphere. All of us here in CAI Cebu wish to thank our Madam President for taking time out from her busy schedule to visit us and give the direction towards achieving the battlecry for the year – “ 48 at 28 in 2008.”

March 31, 2008 P-2 Work and Play at Mountain View Natures Park Contributed by Allan Aquino

n his recent branch visit to Cebu, company knowledge of our Cebu staff was enhanced when Finance & Admin Head Art Pablico oriented the former on CAI’ s administrative and operational process flows. (Please refer to related article on “ HR conducts seminars….”in this issue). As Mr. Art emphasized the Company’ s strengths and its 28 years of having earned its credibility, forging a niche in the appraisal and real estate industries, the Cebu staff learned to appreciate more and develop a pride for the Company they work for. Our morale was further boosted when Mr. Art conducted a one-on-one meeting with each of our Cebu staff to address their individual concerns, particularly over their employment status. After these enlightening talks, Mr. Art, together with other Cebu non-Technical staff, came along with our appraisers to Mountain View Natures Park at Busay, Cebu City after taking an early dinner last February 29. The 15 to 20 minutes drive from CAI Cebu Office is like shooting two birds with one stone. On one hand, Mr. Art was able to Wedding Bells in Cebu personally witness the completion of the site inspection work Contributed by Mayette Dizon covering the entire park, with all its land and improvements. Afterwhich, we enjoyed the Baguio-like cool fresh breeze from the A life of togetherness for Edgar view deck of the park and experienced a relaxing moment while Brusas and Mary Jane “ Jing” gazing at the truly breathtaking wide panoramic view of Cebu City. Medallo, CAI Cebu Branch From the view deck, we moved to the Conference Hall where we th Accountant, began on the 8 had fun videoke-singing. Mr. Art gamely sang with the Cebu staff. It day of March 2008 amidst a rainy was a night of revelations! Majority of them, especially Babylou, afternoon, always believed turned out as promising Rockers! – a lucrative business CAI-Cebu to be God’ s sign of an may (seriously?) consider in expanding its operations. abundant blessings for the

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newly-married couple. The much-awaited wedding rites were solemnized at the historic Cebu Metropolitan Cathedral Church in Cebu City by the Reverend Father Leonilo B. Igloria and witnessed by five pairs of principal sponsors. The bride’ s parents, Ben-hur and Evelyn Fariola looked pensive as they watched their unica hija recite her marriage vows. An hour after the ceremony, the wedding entourage and guests feasted on a sumptuous dinner held at the Grand Ballroom of Metro Park Hotel in Lahug, Cebu City. It was quite a gathering of families, relatives and friends, with the lively Ms. Maristela Orlanes-Remitar, former BDO of CAI-Cebu, acting as program host. To the newly-married couple, Edgar and Jing, your CAI Family wishes you a life of oneness full of bliss under God’ s guidance and protection.

MARCH Birthday Celebrants 15 - Amando “ Bebot”Chua, Real Estate Division Manager 18 - Joseph Oliver Barote, Driver/Messenger/Janitor Cebu Branch 19 - Jimmy “ James”Alonto, Utility Clerk 20 - Eugene Balatico, Junior Appraiser – Real Estate 21 - Joel Guinto, Junior Appraiser – Real Estate 29 - Ronalyn “ Rona”Coza, Accounting Assistant

Newsbits… ..

HR conducts seminars on Employee Handbook and various Work Process Flows During his Cebu visit last February 28 to 29, Finance & Admin Head Art Pablico conducted in our Cebu Branch Office a seminar to brief its employees on the salient points of the updated Employee Handbook which was earlier distributed to all employees. Art took this opportunity to emphasize to them the importance of disciplining oneself to report for work on time thus enabling the employee to give the company a fair day’ s work. This naturally translates into more productivity, i.e. more work being accomplished the earliest time possible, making turnaround time shorter. The mini-seminar thereafter touched on the work process flows involving the Company’ s finance and marketing activities. These encompassed finance-related work processes such as availing of cash advances, liquidating these cash advances, requesting for – expense reimbursements, purchase/issuance of materials, services, payment whether in cash or in check. Overviews on their objectives, brief processes from start to finish, and attendant documentation were explained. To gain a better perspective on how projects come about, Art likewise dealt in general on the marketing process flow which begins from getting requests for appraisal work through either walk-in/call-in clients classified as office accounts or solicited accounts initiated by the Account Managers. Proposals are then sent to the clients for their conforme, submission of required documents and payment of required downpayment before inspection work can be scheduled/may commence. Close coordination among the Marketing Division, Technical Division and Project Management Dept. is of utmost importance for the smooth and timely delivery of our product – the appraisal report – to our valued clients. A similar seminar was conducted with the Head Office employees last March 10 with the Personnel Manager Ruby Madrasto handling the Employee Handbook’ s salient points – focusing on the official time schedules, allowed break times, conditions and computations for tardiness, undertime and overtime, availment of leaves, corresponding sanctions, and observed cut-off periods. She emphasized likewise on the importance of punctuality which translates to productivity, and which ultimately redounds to achieving an outstanding work performance. Together with Art, they answered queries and clarifications posed by the employees. Head Office employees, particularly the newly-hired staff, were likewise enlightened by the work process flows covering Finance and Marketing activities as explained to them by Art. In the same token, Art informed the employees that other work process flows, e.g. Production aspect, will be tackled in the future for everyone’ s appreciation and better understanding.

EASTER REFLECTION March 3 - CAI President, Ms. Chato, treated March birthday celebrants to a breakfast salu-salu at the Valle Verde Country Club. Together with Finance & Admin Head, Art Pablico, Ms. Chato got to know more closely bday celebs, James Alonto, Eugene Balatico, Joel Guinto and Rona Coza. Bebot Chua, however, was unable to attend this gathering as he and Engr. Ronnie Catapang had to catch an early flight for Cagayan de Oro upon client’ s request to meet with the latter regarding the appraisal report for Minergy. Bebot will join the April celebrants next month . March 13 - Marketing Division reached the P 6.0 Million mark of sales closings. Ms. Chato rang the Company Bell with delight to joyously announce this accomplishment.

Arthur A. Pablico Editor-in-Chief Emer Arante Layout Artist

Ruby B. Madrasto Associate Editor

Chris Regino Asst. Layout Artist

Liezl B. Arellano Circulation In-charge

This is a monthly publication of Cuervo Appraisers, Inc. 2/F Padilla Bldg., F. Ortigas Jr. Rd., Ortigas Ctr. Pasig City, MM

(from 365 anecdotes and reflections by Fr. Jerry M. Orbos, SVD in his book “ just a MOMENT” )

Just for the weekend he story is told that when Joseph of Arimathea was asked why the lent his tomb to Jesus, his reply was: “ His disciples told me He was going to use it just for the weekend.”

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A MOMENT WITH THE LORD

Lord, let my love for you not just be for the weekend. Amen. A MOMENT WITH THE WORD

“ The mountains may depart, and the hills will be shaken, but my steadfast love for you will never end.” John 54:10

“ Joy is the fruit of the Spirit that is always in season..”