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PHILIPPINES' SOCIAL SECURITY SYSTEM ENJOYS LEAP IN H1 NET PROFIT.
(From Asia Pulse)
MANILA, Aug 15 Asia Pulse - Social Security System's net profit nearly quadrupled in the first half of 2005 due to a double digit rise in investment income, higher loans and contribution collection and improved value of marketable securities.
SSS Officer-in-Charge Horacio Templo said the agency's net income rose 375 per cent in the first six months of the year to P3 billion (US$53.8 million) from P628 million for the same period last year.
Templo said investment income reached P5.8 billion from January to June this year, a 36.4 per cent increase from P4.2 billion during the same period last year. Contributions, on the other hand, …
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