Net revenues of CCCI increase by 41 percent

CEBU, Philippines - The year 2008 was another banner year for the Cebu Chamber of Commerce and Industry (CCCI) as it was able to record net revenues of P3.44 million which represents a 41 percent increase over 2007’s performance.

In her report during the general membership meeting of the CCCI, outgoing treasurer Melanie C. Ng said that the year’s improved financial performance has translated to total revenue of P12. 85 million, which is up by P1.32 million or 11 percent over the previous year.

“Despite the decrease in membership dues, revenues were cautioned by the increase in trainings and seminars income Octanorm rentals, Chamber awards subsidy interest earned on time deposits, grants from strategic partners, trade missions, export documentation and the Cebu business month,” said Ng.

Even the Chamber’s cash and cash equivalents of P11.8 million registered an increase of two million pesos or a 20 percent growth from last 2007.

She said that their available cash including cash flow from operations will provide sufficient liquidity to fund the Chamber’s projected operating requirements for the next 12 months and about P3.6 million is earmarked for time deposit placements.

“We are going through difficult and uncertain times in the global economy but by working together in the pursuit of our mission and vision we can overcome these challenges and still be globally competitive and economically sound,” added Ng.

Global competitiveness

Despite the difficult and uncertain times faced by businessmen today due to the global economic crisis, CCCI will still adhere to its mission of becoming globally competitive and providing its members the resources to achieve this pursuit.

CCCI acting president Samuel Chioson said that although this year is going to be challenging they still see it as a dynamic year so the Chamber will continue to pursue its commitment to Cebu’s business community.

Last year the chamber achieved several successes and they want to replicate these achievements this year.

This year, the chamber will focus on new projects which include the joining of the Regional Trade Policy Center, a project of the Institution of Multi- stakeholders Consultation of Trade Negotiations and the creation of the District Trade Association which is eyed to enable businessmen in the countryside to participate in the economic development of the localities. 

The Chamber will also organize new trade missions to Auckland and Wellington, New Zealand to be initially undertaken this coming May 9 to16 as well as to Xiamen, China this coming April 29 to May 3 to participate in the 7th International Food Procurement Fair.

The trade missions are aimed to create business matching between Cebu Chamber and chambers in those areas as well as examine the market and form plausible tie-ups and linkages so that the Chamber members can expand its business network and promote mutual business opportunities.

As for this year’s Cebu Business Month (CBM), newly appointed chairman Jay Yuvallos assured that although challenges lie ahead, they remain to be condiment to push a successful CBM this year and rise up to the challenge posted by the global economic crisis to show the resiliency of Cebuanos and CCCI’s thrust of being a catalyst and enabler for Cebu’s feat as a globally competitive business and investment destination.