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2026 GLOBAL YOUTH SUMMIT EMPOWERS YOUNG FILIPINOS FOR COMMUNITY CHANGE Dynamic change rooted in informed and empowered action echoed across the four-city run of this year's Global Youth Summit (GYS). 1,000 youth attendees filled the MOA Music Hall for the NCR leg of the summit which featured influential advocates such as Dimples Romana, Aaron Maniego, Karmina Constantino-Torres, and Sarah Jessica Caringal in its speaker lineup. Hosted by SM Cares in partnership with the Global Peace Foundation Philippines, the annual youth empowerment forum champions real-world change through youth education focused on 17 Sustainable Development Goals. The final leg is happening on August 27, at SM City Laoag Event Center.

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‘DELIBERATE TRADEOFF’ IN RATE MOVE ASSESSED www.businessmirror.com.ph

Thursday, August 27, 2026 Vol. 21 No. 317

Trade’s new headache: Figuring out the tariff

By Andrea E. San Juan

DAY ahead of the Monetary Board’s policy meeting, a former deputy governor of the central bank explained how a potential third straight hike in the key interest rate would influence the behavior of households, manufacturers and businesses in the Philippines. In a message sent to the BusinessMirror on Wednesday, Former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Diwa C. Guinigundo said that while the immediate effect of another rate hike would be a “further tightening of financial con-

By Bless Aubrey Ogerio

ditions,” the “bigger risk” is allowing inflation expectations to become unanchored, particularly when both this year’s and next year’s inflation are still seen to linger above the central bank’s 2 to 4-percent target range. See “Tradeoff,” A2

HALF OF REGIONS HAVE LARGER SHARE OF POOR HOUSEHOLDS

By Justine Xyrah Garcia

ESPITE posting its lowest family poverty rate last year, more than half of the country’s regions still had a larger share of poor households than the national average. Data from the Philippine Statistics Authority (PSA) showed that 10 of the 18 regions had poverty incidence among families higher than the national rate of 6.4 percent in 2025. The highest poverty incidence was recorded in

Region V (Bicol) at 16.8 percent, followed by Region X (Northern Mindanao) at 14.4 percent and the Negros Island Region at 14.3 percent. Other regions above the national rate were Region VIII (Eastern Visayas) at 12.8 percent—it was tied with the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM)— and then Region IV-B (Mimaropa) at 11.3 percent, Region VII (Central Visayas) at 8.7 percent, See “Poor,” A2

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SAN JUAN’S NEXT BIG WAVE DMCI Homes President Alfredo R. Austria shows the scale model of

ARIFF confusion can become more than a headache for exporters—it can widen the gap between countries that have the capacity to track shifting trade rules and those that do not, according to economists. University of the Philippines (UP) School of Economics assistant professor Anthony Sabarillo said the problem becomes more damaging where governments and businesses have fewer resources to interpret and respond to rapidly changing trade policies. “Confusion is most damaging where state capacity and private sector know-how are most lacking,” Sabarillo said in a discussion on Wednesday in Quezon City. “And if countries are self-interested, those holding the tools for reducing confusion may have an incentive to deny them to rivals,” he added. The issue has become particularly relevant as US trade policy continues to change. Since July, Philippine goods entering the United States have been subject to a 12.5-percent additional tariff under a US Section 301 action targeting economies that Washington said failed to impose and effectively enforce prohibitions on imports produced with forced labor. The rate, however, does not ap-

ply uniformly to every product. The US order contains exemptions for certain goods, including products already covered by Section 232 tariffs and those that could cause domestic supply shortages or broader economic disruptions. Semiconductors, among the Philippines’s major exports to the US, are among the products reported to be exempt from the new tariff. That complexity is central to a new study discussed by Sabarillo and other economists. The paper, led by UK Foreign, Commonwealth and Development Office (FCDO) chief economist Dennis Novy, examined US tariff announcements in 2025 and built a database covering 233 countries and nearly 19,000 product lines. It measured confusion through the number of relevant tariff announcements, possible tariff calculations and the potential range of tariff miscalculations. The study found that both tariff increases and confusion reduced US imports, with confusion more than doubling the effect of higher tariffs. The impact was also persistent and worsened as tariff rates increased. For Sabarillo, the findings raise a broader question for countries such as the Philippines: how can governments and businesses See “Tariff,” A2

Solmera Beach Park Resort in San Juan, Batangas, a 7.5-hectare beachfront development featuring condotels, residential accommodations, a convention center and a 4,000-square-meter pool complex. Targeted to open in February 2027, the resort’s convention center will accommodate up to 1,000 people and cater to corporate functions, conferences, celebrations and other group events. The development is expected to boost tourism in San Juan and generate opportunities for local suppliers, transport providers, tourism partners and other businesses serving increased visitor traffic. NONIE REYES

Growth pace to stay at ‘more of the same’ pace

HE Philippine economy will grow at a “more of the same” pace until 2050 unless the country’s economic policy centers on the modernization of agriculture and the development of the manufacturing sector, and the government adopts a “more active” role, researchers from the De La Salle University (DLSU) warned. On Wednesday, the DLSU launched a book with the title, “The Philippine Economy Toward 2050: Economic Structure and Monetary Reality.”

The book scrutinized the culprits behind the Philippines’s “relative” economic stagnation compared with its Southeast Asian neighbors despite what the authors called “sustained optimistic government rhetoric.” Upon developing the ANIMO econometric model of the Philippine economy which examined how the economy can “realistically progress” by 2050, Arlene Inocencio, Professor and Dean of the Carlos L. Tiu School of Economics at De La Salle University said: “Under

current structural dynamics, the economy will continue to grow, but not at a pace meaningfully different from recent experience.” The result is what the authors describe as “more of the same” (MOTS). “Per capita income will rise and poverty will decline, but the Philippines will not approach the income levels of South Korea, much less Singapore,” Inocencio said in the foreword of the book. She said achieving faster and sustained growth will require a

“different economic structure”— one anchored on manufacturing and exports, and therefore active participation in global markets. At present, she noted that most employment generation occurs in low-productivity services, such as retail and delivery. The dean of DLSU’s School of Economics pointed out that the authors of this book “rightly note” that the Philippines cannot industrialize today in the same way South Korea did in the 1970s. See “Growth,” A2

IMPEACHMENT WATCH Office of the Vice President Assistant Secretary and Assistant

Chief of Staff Lemuel Ortonio takes the witness stand at the Senate sitting as an impeachment court during Day 19 of Vice President Sara Duterte’s impeachment trial on Wednesday, August 26, 2026, in Pasay City. Declared the second hostile witness by the impeachment court on Day 18, Ortonio faced cross-examination by the defense after completing his direct examination by the House prosecution panel on Tuesday. His testimony centers on the OVP’s confidential funds and their alleged misuse. ROY DOMINGO/SPPA POOL

PESO EXCHANGE RATES n US 61.7180 n JAPAN 0.3877 n UK 84.2574 n HK 7.8745 n CHINA 9.1838 n SINGAPORE 48.6275 n AUSTRALIA 44.2086 n EU 72.0496 n KOREA 0.0447 n SAUDI ARABIA 16.4384 Source: BSP (August 26, 2026)

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BusinessMirror

A2 Thursday, August 27, 2026

Poor…

Continued from A1

Region IX (Zamboanga Peninsula) at 9.8 percent, Region XIII (Soccsksargen) at 9.6 percent, and Caraga at 7.8 percent. Among these, BARMM recorded the largest improvement between 2023 and 2025, with its family poverty incidence falling to 12.8 percent from 26 percent. Zamboanga Peninsula posted the second-largest decline, dropping by 12.7 percentage points to 9.8 percent from 22.5 percent. At the other end of the spectrum, the National Capital Region remained the region with the lowest poverty incidence at 0.6 percent, followed by Region III (Central Luzon) at 1.9 percent and the Cordillera Administrative Region and Region IV-A (Calabarzon) at 2.7 percent each. The PSA estimated national poverty incidence among families at 6.4 percent in 2025, equivalent to about 1.9 million Filipino families. Among the population, poverty incidence stood at 9.7 percent, or about 11.08 million Filipinos whose per capita income was insufficient to meet their minimum basic food and non-food needs. The PSA said the estimates were based on reported income from the 2025 Family Income and Expenditure Survey (FIES) and the corresponding poverty threshold for each region. The national poverty threshold was P14,634 per month for a family of five in 2025. This works out to about P488 per day, or roughly P98 per person per day.

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7-month PHL meat imports breach 1 MMT on pork buys

By Ada Pelonia @adapelonia

HE Philippines’s meat imports breached 1 million metric tons (MMT) as of end-July on the back of huge pork purchases abroad, according to the Bureau of Animal Industry (BAI). Data from the BAI showed that the country imported 1.02 MMT of meat products from January to July, 11 percent higher than the 919,827 metric tons (MT) recorded in the same period of 2025.

Pork imports held the lion’s share of shipments at 541,405 MT, up 10.31 percent from the previous year’s 490,825 MT. A chunk of the imports were pork cuts and offals at 233,115 MT and 162,745 MT, respectively.

Wage earner in 16 regions… Continued from A13

The resulting 0.15 percentage point net change was statistically insignificant, it said. “We note, however, that these findings should not be read as evidence that historical wage orders had no net employment effect. Indeed, one may

also argue that these net reallocation estimates may simply be due to an upward-trending employment rate over time that is independent of population growth,” it said. The researchers said better data are needed to determine the effects

The imported pork products are expected to plug the supply shortfall caused by African swine fever (ASF), a disease that continues to crimp local hog output. This was followed by chicken shipments which grew by 14.72 percent to 335,669 MT from 292,609 MT, based on BAI data. Mechanically deboned meat (MDM) comprises the majority of the shipments at 195,370 MT, followed by chicken leg quarter at 66,460 MT. Other meat shipments, such as buffalo and lamb, also grew yearon-year in July when it went up to 32,563 MT from 24,808 MT and 674 MT from 491 MT, respectively.

BAI data also showed the continued surge in duck shipments, skyrocketing ninefold to 845 MT from 85 MT in 2025. From recent highs, however, beef imports slid by 0.34 percent to 110,570 MT from last year’s 110,948 MT. The bulk of these consisted of beef cuts at 71,755 MT, followed by fats at 21,488 MT. Turkey shipments also plunged by 30 percent to 41 MT, from the 60 MT recorded in the same period last year. Brazil maintained its position as the country’s largest supplier of beef (44,069 MT), chicken (189,402 MT), and pork (257,727 MT) products.

of minimum-wage adjustments more reliably. The researchers said the country also needs to revisit how minimum wages are set. They described the current tripartite wage-board system as “discretionary and opaque,” with wage decisions influenced by bargaining and information gaps that go beyond measurable economic conditions.

As a possible reform, they pointed to formula-based safeguards similar to Indonesia’s system, which could anchor wage adjustments to observable measures such as inflation and productivity while retaining a role for regional wage boards. The researchers said this could make wage-setting more transparent and responsive while preserving regional flexibility.

Trade’s new headache: Figuring out the tariff Continued from A1

build the capacity to monitor trade rules without becoming dependent on countries that control the information and tools needed to navigate them? For his part, UP School of Economics professor emeritus Florian Alburo said countries also differed in their ability to absorb tariff shocks. Economies deeply integrated into alternative regional trade blocs could redirect exports to other markets, while countries

with strong institutional trust and long-standing business relationships were better able to absorb compliance risks. Governments, however, could also have strategic reasons to keep trade policies ambiguous, Novy said. “Do you want to have a clean sweep and announce it and then stick to it? Or do you want to obfuscate? Do you want to have deliberate confusion around it?” the UK professor said.

Growth…

proportion of the workforce will “remain concentrated” in lowproductivity sectors. “Our long-run growth forecasts show that the economy will grow at rates below 6 percent until 2050. In fact, growth will slow to 4 percent by 2050. By 2040, our actual growth rate will decrease to 5.1 percent and, by 2050, to 3.6 percent,” added the authors. In her speech at the launching of the book, Inocencio emphasized: “We are used to hearing that the Philippines’s long stagnation relative to its neighbors is some kind of mystery. That we did everything more or less right and yet somehow fell behind. This book says plainly that there is no mystery. We did not industrialize the way our neighbors did.” According to Inocencio, the Philippines did not build the manufacturing base that absorbs labor out of agriculture, raises productivity and competes abroad. Instead, she said the country drifted into a “different path.” “And the numbers today are the honest consequence of that choice. Korea, Thailand, Indonesia, even Vietnam have moved ahead of us. This is not an accusation. It is a diagnosis,” the dean of the School of Economics said. The authors of the book are: Jesus Felipe, Mariel Monica Sauler, Christopher Cabuay, Alellie Sobreviñas, Susan Kurdli, Julián Pérez, Eva Marie Aragones, and Gerardo Largoza. Andrea E. San Juan

Continued from A1

Nonetheless, the authors argued that, “it is essential to identify competitive niches among the wide range of manufactured products produced globally.” This process, Inocencio said, would also support the modernization of agriculture, which still employs more than 20 percent of Filipino workers at “low productivity and low wages.” With this, Inocencio said highincome status will remain “unattainable” as long as this sector remains “large and unproductive.” Moving forward, she pointed out: “The critical question is whether Philippine firms possess the capabilities to compete, not only in domestic markets, but also globally.” “The uncomfortable reality is that many firms lack the organizational and technological capacity required to produce highquality goods at scale,” added Inocencio. According to the book authors, looking beyond 2028, unless the government takes “decisive action” to increase the potential of the economy: “We will continue to experience progress, but it will mostly be a continuation of the status quo.” The authors’ forecasts also indicate that actual growth will be below 6 percent and that a large

Tradeoff… Continued from A1

Guinigundo said further tightening of financial conditions means borrowing becomes more expensive, credit growth may moderate, and spending and investment could soften. “That is the cost of bringing inflation back under control,” the former central bank deputy governor added.

Households and consumers

FOR households and consumers, Guinigundo said higher interest rates mean more expensive loans, particularly housing, auto and consumer loans— and potentially higher debt-servicing costs for households with variable-rate borrowing. His sentiment was echoed by former Socioeconomic Planning Secretary Dante B. Canlas, who said that rising interest rates affect households “adversely” in many ways. “Mortgage rates for say houses and cars increase, making it more burdensome to own houses and cars and other debt-financed consumer durables,” the former director general of the Neda told this newspaper. As such, Guinigundo said some households may postpone big-ticket purchases. On the other hand, he said savers and households with deposits may benefit from higher returns. But more important, Guinigundo emphasized: “Successful monetary tightening should eventually help protect households’ purchasing power by bringing inflation down.”

Producers and manufacturers

FOR producers and manufacturers, the former BSP deputy governor said higher borrowing costs raise the cost of working capital and financing inventories, equipment and expansion. “Some firms may therefore defer investment or pass part of the higher financing cost to prices,” Guinigundo explained. “But this is precisely why monetary policy has to be calibrated carefully: the objective is not to suppress productive activity, but to prevent demand and inflation pressures from becoming entrenched,” added the former central bank deputy governor.

Businesses in general

FOR businesses generally, Guinigundo said the impact would be mixed. “Highly leveraged firms and interest-sensitive sectors such as property, construction and consumer durables would feel the pressure more quickly,” he explained. But firms with strong balance sheets and cash positions would be less affected, he added. For his part, Canlas told this paper: “Incentives to invest are dampened by rising interest rates. Real GDP growth is thus negatively affected.”

Balancing act

OVER time, Guinigundo explained that a “credible anti-inflation stance” can improve the business environment by reducing uncertainty about future costs, interest rates and purchasing power. He also pointed out that the response to inflation should be broader. “Fiscal authorities, trade authorities and especially the agriculture sector have to address the supplyside sources of inflation, while the BSP focuses on preventing second-round eﬀects and keeping inflation expectations anchored,” added Guinigundo. Meanwhile, fixing the economy’s growth problem should not rest on the shoulders of monetary policy, he pointed out. “If growth is weakening because of supply constraints, high food prices, infrastructure bottlenecks, weak productivity or inadequate investment, lower interest rates cannot by themselves cure those problems,” the former BSP deputy governor told this newspaper. While an easy monetary policy may stimulate demand, he said it cannot produce more rice, lower logistics costs or remove structural constraints on production. “So I would characterize another rate hike not simply as being “bad for growth,”” Guinigundo emphasized. Instead, he described it as a deliberate tradeoff: “Accept some short-term moderation in demand today to avoid a much more damaging episode of persistent inflation tomorrow.” Guinigundo said the BSP should be guided by the inflation outlook and expectations, not simply by the desire to support short-term growth. “The key issue is credibility. If inflation is still projected to remain above target and there is substantial uncertainty around food, energy, exchange-rate and external price pressures, the BSP should be careful about declaring victory too early,” Guinigundo said. “Weaker growth cannot be cured simply by easier monetary policy; but an unanchoring of inflation expectations can make the eventual cost of restoring price stability much higher,” he stressed. The Monetary Board, the highest policy-making body of the BSP, has raised the key interest rate by a total of 50 basis points since the start of the conflict in the Middle East, delivering two separate quarter-point rate hikes at the Monetary Board’s rate-setting meetings held on April 23 and June 18. These policy actions brought the Target Reverse Repurchase (RRP) Rate to 4.75 percent.

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Thursday, August 27, 2026

Going online no longer enough for MSMEs By Bless Aubrey Ogerio

HE g row t h of t he Philippines’ digital economy is putting greater pressure on micro, small and medium enterprises (MSMEs) to adopt online sales and digital tools, but access to connectivity, skills and platforms remains a hurdle for smaller businesses. This gap is the focus of a new cooperation among the Department of Trade and Industry (DTI), TikTok Shop and Converge SME Solutions, which will provide digital

training, marketplace access and connectivity support to MSMEs starting in Cebu. T he t hree pa r t ies sig ned a tripartite Memorandum of Understanding (MOU) on Tuesday in Cebu City, building on the Unlad Lokal program launched by DTI and TikTok Shop in 2025. Under the agreement, DTI will coordinate local participation through its regional offices, while TikTok Shop will train entrepreneurs in live selling and other digital marketplace tools. Converge, meanwhile, will offer internet services aimed at business use. The arrangement comes as digital

activity accounts for a growing share of the economy. Latest data from the Philippine Statistics Authority showed that the digital economy generated P2.74 trillion in gross value added (GVA) in 2025, equivalent to 9.8 percent of the country’s gross domestic product (GDP). E-commerce accounted for more than 32 percent of the digital economy, with shopping platforms generating P880.46 billion in volume and supporting 7.87 million jobs. For smaller businesses, however, simply being online does not necessar i ly translate into

Private land surveyors benefit from govt red tape, budget constraints By Jonathan L. Mayuga @jonlmayuga

UDGET constraints and red tape for land surveys for agricultural and residential free-patent, a primary mandate of the Department of Environment and Natural Resources (DENR), are forcing applicants to go to private land surveyors at their own expense, a party-list lawmaker said. SpeakingduringDENR’s2027budget hearing in the House of Representatives (HOR), Party-list Rep. Elijah San Fernando of Kamanggagawa lamented

that sometimes, the DENR officials in the provincial and municipal levels would ask applicants of agricultural or residential free patent to go back and forth to request a land survey, which is supposed to be free. “Instead, the Penros and Menros would ask the applicants to go to private surveyors,” he lamented. San Fernando sought clarification about the DENR’s mandate and process when it comes to public land surveys, classifications and patents. Env ironment Secretar y Juan Miguel Cuna, in response, said for

alienable and disposable lands, the agency issues agricultural free patents and residential free patents. It starts from Cenros, Menros up to the Penros. “For those qualified, we issue agricultural free patents and residential free patents,” he said. The agency, as part of its mandate, determines the land classification or status, approves survey plans, determines if the land is alienable and disposable, and processes applications for residential and agricultural free patents. See “Private,” A11

sustained digital operations. “If technology feels too complicated or too expensive, MSMEs will simply leave it on the shelf,” Converge SME Solutions Senior Vice President and Head of SME Business Group Dindo Marzan said. “Our job is to make technology simple, affordable, and useful enough to become part of their everyday business. That is how we earn their trust,” he added. The MOU, therefore, combines three elements of digital participation: access to an online marketplace, skills to use it and connectivity to support day-to-day operations.

DTI Central Visayas Regional Director Esperanza Melgar said the partnership is intended to improve MSMEs’ ability to participate in the digital economy. “This tripartite partnership reaffirms DTI commitment to capacitate our Filipino MSMEs with the tools and skills needed to participate effectively and efficiently in the digital economy,” Melgar said. “We are not just getting entrepreneurs online, we are equipping them to thrive online.” For his part, TikTok Shop Philippines Marketing Lead Franco Aligaen said digitalization can allow entrepreneurs to reach customers beyond their

immediate geographic markets, but said access to knowledge, tools and support remains important. The Unlad Lokal program is being expanded to communities outside Luzon, with Cebu serving as an initial area for the cooperation. “As the digital commerce ecosystem continues to grow across Visayas and Mindanao, our partnership with the DTI and Converge allows us to invest further in seller and creator empowerment, allowing more Filipinos to benefit from TikTok Shop’s discovery commerce ecosystem for business growth and livelihood,” Aligaen said.

PHL seeks Thailand backing for 4 Asean labor initiatives

By Mary Jade Jadormio

HE Philippines is seeking Thailand’s support for four labor initiatives as it pushes for concrete regional action on emerging workplace issues. Labor Secretary Francis N. Tolentino presented the Philippine-led outcome documents during a bilateral meeting with Thai Minister of Labor Julapun Amornvivat on Tuesday, ahead of the 29th Association of Southeast Asian Nations (Asean) Labor Ministers’ Meeting (ALMM) and related meetings. Four priority documents cover labor market and social resilience, fair, ethical and sustainable recruitment, labor inspection in the fishing sector, and occupational safety and health in the informal economy. Philippine officials sought Bangkok’s backing

for the endorsement of these deliverables as part of efforts to advance practical, worker-centered policies within Asean. Platform workers also figured prominently in the talks, with Tolentino and Amornvivat discussing the ratification of International Labor Organization (ILO) Convention 193 on decent work in the platform economy. Ride-hailing, delivery, freelancing and other digital platforms are among the emerging forms of work covered by the convention, reflecting the changing ways workers earn their livelihoods. Possible cooperation on aquaculture development and workers’ rehabilitation likewise formed part of the bilateral discussions. Thailand shared its experience in establishing rehabilitation centers for workers and invited Philippine officials to visit its facilities as Manila

prepares to establish its own dedicated workers’ rehabilitation center. Skills development was another area identified for closer cooperation, with the Philippines expressing support for Thailand’s priority to establish an Asean Center of Excellence for skills certification. Manila reaffirmed its commitment to working with Bangkok in advancing ASEAN’s labor agenda and strengthening cooperation among member-states. The bilateral engagement forms part of the Marcos administration’s efforts to draw on regional expertise to improve programs and services for Filipino workers. With workplaces and employment arrangements evolving, the Philippines is pushing Asean cooperation toward stronger labor protections, safer workplaces and better opportunities for workers across the region.

The Nation BusinessMirror

A4 Thursday, August 27, 2026

Escudero to fellow senators: Act forthwith on barangay, SK bill By Butch Fernandez @butchfBM

ND of September: That’s the inextendible deadline for the Senate to approve Senate Bill 2387, which proposes to fix the tenure of barangay and Sangguniang Kabataan (SK) officials to five years instead of the current four-year term. Sen. Francis Escudero, at the same time, exhorted his colleagues to act forthwith on the measure, which impacts the November barangay and Sangguniang Kabataan elections. Delivering his sponsorship speech on the measure under Committee Report 77, Escudero said the Senate must act forthwith on the proposal before the end of

September to ensure predictability in the conduct of the upcoming Barangay and SK Elections (BSKE) scheduled in November. He noted that the filing of certificates of candidacy is already set for next month, underscoring the need for Congress to decide promptly whether the elections will proceed or be reset under the new term structure.

“Mr. President, I ask that the body act on this bill with urgency for or against it, before the end of September, given the fact that the Barangay Elections is scheduled to be conducted this November and the filing of Certificates of Candidacy are slated already in the coming month,” Escudero said. “Although I favor this measure, I hope this body will give priority to this measure so that we can decide on it and so that there will be predictability with respect to the coming elections—whether indeed it will push through or will be postponed in accordance with the new term that will be approved by Congress, should I decide in its wisdom,” he added. The Constitution empowers the Congress to determine the term of barangay officials, a policy judgment affirmed by the Supreme Court in Macalintal v Senate, Escudero added. He noted that the Court recognized the need to balance continuity against accountability,

and administrative efficiency against democratic change. “That is the policy judgment which the present measure asks us to consider—whether, as a matter of policy, a five-year term provides a better governing window than the four years presently provided by law,” he also said. Escudero argued that a five year term provides a better governing window than the current four years, allowing barangay and SK officials sufficient time to organize, implement, and evaluate programs without the disruption of frequent elections. “ B a ra ngay s a re pl a n ners, implementers, first responders, peacekeepers, conciliators, and frontline service providers – all at a scale where government knows the family, the street, and often the problem by name,” he said. He added that the proposal is not unprecedented, citing past laws, namely Republic Acts 6653 and 8524 that also prescribed five year terms

for barangay officials. “This bill is a termsetting measure, enacted in the exercise of the power expressly conferred upon Congress by Article X, Section 8 of the Constitution,” Escudero pointed out. Committee Report 77, jointly prepared by the Committees on Local Government and of Finance, has recommended the approval of SB 2387 with amendments, taking into consideration SB 2067 filed by Sen. Imelda Josefa Remedios Marcos. A t M o n d a y ’s c o m m it t e e hearing presided over by Escudero, multisectoral representatives expressed strong support for the fiveyear-term. The Liga ng mga Barangay, the National Citizens’ Movement for Free Elections (Namfrel), the Parish Pastoral Council for Responsible Voting (PPCRV), and the National Youth Commission (NYC) all backed the measure, stressing that a longer term would institutionalize stability and break the cycle of frequent postponements.

Senate Impeachment Court issues gag order By Jovee Marie N. Dela Cruz @joveemarie

HE Senate Impeachment Court on Wednesday prohibited senator-judges, prosecutors, defense lawyers, witnesses, and other involved individuals from publicly commenting on the merits of Vice President Sara Duterte’s impeachment case. Presiding Officer Sen. Francis Escudero said the directive is based on Rule 18 of the Rules on Impeachment, which requires those involved in the proceedings to refrain from making public statements that could affect the integrity of the trial. Escudero warned against “trial by publicity,” saying public commentary could undermine the dignity of the Impeachment Court and influence public opinion before evidence is properly evaluated. He stressed that

the rule seeks to balance the public’s right to information with the need to protect the proceedings from prejudgment. The ruling came after House prosecution counsel Amando Virgil Ligutan defended a Facebook post stating that misleading questions are not allowed even during crossexamination. Ligutan maintained that his post merely clarified a procedural rule and did not discuss the strength of the evidence, legal arguments, or merits of the impeachment case. The controversy began during an August 12 exchange between prosecution counsel Lorna Kapunan and defense counsel Kristine Ferrer while Commission on Audit auditor Xylene Mae del Campo was being crossexamined. Kapunan said misleading questions were not allowed, while Ferrer responded that they were. Ligutan later posted on Facebook

that misleading questions are prohibited even on cross-examination. Defense lawyers subsequently raised the matter before the Impeachment Court, arguing that Ferrer may have been referring to leading questions rather than misleading questions.

Duty to clarify legal issues

LIGUTAN insisted that his post was not directed at any specific defense lawyer and was intended only to correct what he believed was an inaccurate statement about courtroom procedure. He also cited his experience as a lawyer and educator, saying he considered it his responsibility to clarify legal rules for the public. Escudero, however, reminded Ligutan that being an educator did not remove his obligations as counsel before the Impeachment Court. He also noted that the transcript of the

DENR seeks P28.04 billion budget By Jonathan L. Mayuga @jonlmayuga

HE Department of Environment and Natural Resources (DENR) is seeking a P28.04 billion budget for 2027, which it described as a “strategic investment” in nature conservation and ecological integrity, local livelihoods and climate resilience. This is slightly lower than the P28.33 approved budget of the agency this year. Env ironment and Natura l Resources Secretary Juan Miguel Cuna presented the key highlights of the proposed fiscal year budget

and strategic priorities during the committee on appropriations budget hearingattheHouseofRepresentatives led by committee vice chairman Palawan Rep. Jose Chaves Alvarez. Of the total proposed budget, P2.79 billion is allocated for Capital Outlay, while P13.07 billion is allocatedformaintenance,andOther Operating Expenses, and P12.17 billion for Personnel Services. The amount covers the Central Office, four staff bureaus, 17 regional offices, 77 Provincial Environment and Natural Resource Offices (Penros), 144 Community Environment and Natural Resource Offices (Cenros), and four Municipal

Environment Offices (MEs) with a total budget of P20.62 billion. The proposed budget covers P2.101 billion for the Environmental Management Bureau, P1.89 billion for the Mines and Geosciences Bureau (MGB), and P1.9 billion for the National Mapping and Resource Information Authority. The budget proposal also includes P284.35 million for the National Water Resources Board (NWRB) while the Palawan Council for Sustainable Development (PCSDS) will be given P149.3 million. Cuna said that with its immense mandate, the DENR is entrusted w ith a cha l leng ing yet v ita l responsibility. “O u r pr i m a r y pr ior it y i s translating this mandate into direct community impact amid limitations in fiscal space; we commit to channeling our resources toward three impactful pillars,” he said. He said the DENR aims to unlock the country’s Natural Capital to drive sustainable socio-economic development, ensuring a clean and healthy environment and strengthening ecosystem resilience. T his, Cuna said, involves transforming the National Greening Program (NGP) into a forest landscape restoration approach, focusing on priority landscapes such as the Sierra Madre Protected Landscape. See “DENR,” A11

August 12 exchange could not fully reflect overlapping statements and that Ferrer may have been responding to the reference to leading questions. T he Impeachment Cour t later issued broader guidelines enforcing Rule 18. P re v iou s st ate me nt s we re effectively set aside, but Escudero ordered stricter compliance moving forward and warned all parties against making public comments that could affect the pending impeachment trial. Escudero explained that the court will implement a two-strike policy for violators. On t he f irst v iolation, t he offender will receive a serious public reprimand and a firm warning delivered in open court. This sanction will also become a permanent part of the official record and will serve as the individual’s final notice. If the same offense is committed

a second time, the violator will face a P30,000 fine, according to Escudero.

All parties

THE House prosecution team said that it respects and will comply with the Senate impeachment court’s strict enforcement of Rule 18, or the sub judice rule, while expecting the same standard to apply to all parties, including Vice President Sara Duterte. Hou se i mp e ac h me nt te a m spokesperson Robert Ace Barbers said the prosecution will follow the court’s directives but stressed that the rule should be applied equally to the prosecution, defense, and respondent. De put y Spe a ker Jef ferson Khonghun said the implementation of Rule 18 will test whether the impeachment court applies its order fairly. He said both the prosecution and defense should be held accountable for statements that may violate the rule.

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Confusion reigns in Ombudsman probe of Romualdez

ONFLICTING sworn accounts surrounding the alleged delivery of cash-filled suitcases have widened scrutiny of the “maleta” allegations, as the Office of the Ombudsman weighs competing versions from witnesses linked to the supposed transactions. The latest dispute involves former marine Orly Guteza, who previously claimed that he participated in deliveries of suitcases containing cash but later withdrew his allegations and denied having personal knowledge of the supposed transactions. His reversal came as 25 former employees of former Party-list Rep. Zaldy Co of Ako, including drivers and security aides, submitted sworn statements disputing accounts attributed to the so-called “maleta boys.” The affidavits were included in a supplemental counter-affidavit filed before the Ombudsman by former Speaker Ferdinand Martin G. Romualdez, who is challenging allegations that he received cash from purported deliveries. According to Romualdez’s counsel, Ade Fajardo, the 25 former employees denied that they participated in or witnessed deliveries of money to politicians or government officials. Some also claimed that they had been offered money to sign prepared affidavits. Guteza had earlier emerged as a key witness during a Senate Blue-Ribbon committee hearing, where he claimed that he worked as a security consultant for Co and participated in alleged cash deliveries. He later recanted, claiming that Sen. Rodante Marcoleta and former cong ressm a n Mic h ael Defensor instructed him to make allegations despite his lack of personal knowledge of the supposed deliveries. Sen. Panfilo Lacson said Guteza’s reversal did not surprise him, saying he had observed what he described as coaching during the 2025 Senate hearing. In the supplemental filing, Romualdez’s camp argued that Guteza’s original and subsequent accounts should be compared during the preliminary investigation. The filing said investigators should examine the circumstances under which each statement was made and determine the reasons behind the change in Guteza’s account. The defense maintained that the issue is different from recantations made after testimony in court or following a conviction because the Ombudsman has yet to determine whether sufficient evidence exists to bring the case to trial. Jovee Marie N. dela Cruz

Sara security chief Lachica not OVP employee but handled confi funds

OL. Raymund Dante Lachica handled confidential funds of the Office of the Vice President (OV P) despite not being an employee of the office, testimony during the impeachment trial of Vice President Sara Duterte showed Wednesday. OVP Assistant Chief of Staff Lemuel Ortonio confirmed before senator-judges that Lachica, the former head of the Vice Presidential Security and Protection Group (VPSPG), had no employment status with the OVP. During the 19th day of the impeachment trial, Senator-Judge Vicente Sotto III asked Ortonio to clarify Lachica’s formal relationship with the office, noting that Ortonio was familiar with the OVP’s administrative and financial matters. Ortonio said Lachica was the group commander of the VPSPG and was designated to the post by the Armed Forces (AFP) but was not an OVP employee. Sotto pressed on the distinction b e t w e e n a n A r m e d Fo r c e s designation and a formal OVP employment: “You’re saying he is not employed?” “He does not have any employment status in the Office of the Vice President?” Sotto asked, to which Ortonio replied: “Yes, Your Honor.”

Earlier testimony concerned four confidential-fund tranches of P125 million each released to the OVP from the fourth quarter of 2022 through the third quarter of 2023. Former OVP Special Disbursing Officer Gina Acosta earlier testified that she encashed the confidentialfund checks and turned over the entire P500 million to Lachica upon the instruction of Duterte. Acosta ad mitted t hat t he arrangement did not comply with provisions of the joint circular governing confidential funds. She also acknowledged that she was the accountable officer for the funds and that Lachica was neither a special disbursing officer nor covered by a fidelity bond. According to Acosta, Duterte designated Lachica to implement the OVP’s confidential programs and activities. Ortonio, meanwhile, testified that he had no direct participation in the implementation of the confidential activities. Although he handled administrative and financial matters, reviewed the applicable joint memorandum c i rc u l a r a nd he lped pre pa re responses to Commission on Audit findings, he said he relied on i n for m at ion prov ided by s e c u r it y o f f i c e r s r e g a r d i n g

the actual implementation of confidential operations. When Senator-Judge Erwin Tulfo asked who created the aliases that appeared in acknowledgement receipts connected to the confidential funds, Ortonio said he could not provide the information because he was not involved in the implementation of the activities. “I cannot provide information, sir, because I do not have any participation in the implementation of the confidential activities,” he said. Ortonio gave a similar answer when Senator-Judge Fra ncis Pangilinan asked whether he could personally confirm that money supposedly intended for medicines was actually used for that purpose. “I would have no idea, sir, on the implementation,” Ortonio said. House prosecution spokespersons said Ortonio’s confirmation that Lachica was not an OVP employee strengthened questions surrounding the transfer and custody of the confidential funds. During a press briefing Wednesday, prosecution spokesperson and adviser Ace Barbers said Ortonio’s testimony reinforced Acosta’s earlier account that the money was handed to Lachica. See “Sara,” A11

News

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PBBM may back DILG bid to tighten loose guns policy

ALACAÑANG has not ruled out President Ferdinand Marcos supporting the push of the Department of the Interior and Local Government (DILG) to tighten government policy for possession of loose firearms by making it a non-bailable offense. “So, the President is open to whatever legislation would be appropriate like imposing stiffer penalties for this,” Palace Press Officer Claire Castro said in a press briefing on Wednesday. On Tuesday, DILG Secretary Juanito “Jonvic” C. Remulla, Jr. proposed the measure after the shooting incident in the Ateneo de Zamboanga University done by a minor using licensed firearm to shoot and kill two other students on 18 August 2026. The DILG chief pushed for amending Republic Act No. 8294, which set measures for illegal possession, manufacture, sale, and acquisition of firearms, ammunition, and explosives, since he said 98 percent of gun crimes are done with loose firearms. Remulla hopes the measure will serve as a deterrent for shooting incidents. Castro said the suggestion is good, but she said the President will first wait for the final version of the bill before he decides if he will support or not the proposed amendment. “W hatever will benefit our country and serve the interests of our fellow citizens, our President will not stand in the way of it,” she said. In a related development, the Presidential Communication Office undersecretary said that Marcos also still has no final position on the proposal to once again defer Barangay and Sangguniang Kabataan elections, which are scheduled for November. “As of now, no concrete comments or statements have been provided to us regarding the postponement of the barangay elections,” Castro said. Under Republic Act (RA) No. 12232, the BSKE was reset from December 2025 to the first Monday of November 2026 and every 4 years thereafter. The Supreme Court ruled in 2023 that postponement of the BSKE through RA No. 11935 from 5 December 2022 to the last Monday of October 2023 violated the provisions of the Constitutions of genuine periodic elections. Samuel P. Medenilla

Thursday, August 27, 2026

Comelec rules out poll reset despite election-related attack in BARMM

By Mary Jade Jadormio

HE Commission on Elections (Comelec) is ruling out a postponement of the first ever parliamentary elections in the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM), saying a single election-related incident will not derail months of preparations for the historic polls.

Comelec Chair man George Erwin M. Garcia, along with the Comelec en banc, attended the conference to talk about coordination and security preparations. Secretary of Interior and Local Government Jonvic Remulla, the new Armed Forces chief, the Philippine National Police chief, the Philippine Coast Guard and senior security officials were also present. “We are in full control of the situation in the Bangsamoro,” Garcia said. He stressed that authorities remain confident in the security situation ahead of polls despite the recent attack against Chief Minister Abdulraof Macacua. Garcia said election materials

for the parliamentary elections have already been deployed across the different provinces and will soon be distributed to 105 municipalities and two cities. The poll body’s presence in Bangsamoro also comes after the successful selection of two representatives of the region’s non-Muslim indigenous peoples through an inter-tribal convention held a day earlier. Garcia described the selection as the first of its kind in the history of BARMM, noting that the process was peaceful and settled through discussions among six indigenous tribes. “ Succe s s f u l , p e ace f u l a nd acce pt able to a l l ou r i nd i genous peoples throughout the

COMELEC Chairman George Erwin M. Garcia presides at the command conference led by the Comelec en banc on the upcoming parliamentary elections on the BARMM region on Wednesday, August 26, 2026. PHOTO BY MJ JADORMIO

Bangsamoro,” Garcia said. Garcia said authorities have so far monitored only one electionrelated incident in the entire region, despite its history of election-related violence. “First time in the histor y of t he Ba ngsa moro, ou r c hec kpoints have one election-related incident,” he said. Comelec is also preparing for faster transmission of election results through Starlink technology, which was used during the

2025 elections. The poll chief said the commission is targeting a fast count, with results expected to be known on election night and winning candidates proclaimed the following day. “On the night of the election, you will know who won,” he said, adding that the proclamation of winners could follow on September 15. Beyond security and logistics, Garcia urged voters to participate

in the polls after several postponements of the parliamentary elections. “The problem now is not when the voting will be held, nor whether the voting will push through, because it will push through,” Garcia said. Garcia said a low voter turnout would undermine the significance of an election that follows decades of conflict and is intended to give Bangsamoro voters greater control over the region’s future.

Jinggoy suffers tear on knee, may have to undergo surgery By Joel R. San Juan @jrsanjuan1573

ENATOR Jinggoy Estrada may need to undergo surgery after twisting his left knee while standing up from a seated position before he was brought to the Cardinal Santos Medical Center (CSMC) to undergo an X-ray for his right knee. Estrada was seen limping while being assisted by jail personnel in getting out of the ambulance that brought him to CSMC for his scheduled medical procedure.

The senator’s orthopedic surgeon Fernando Syquia said Estrada was supposed to undergo a check for the arthritis of his right knee. However, the 63-year-old lawmaker suffered a “pretty bad ” meniscal tear in his left knee prior to being brought to the hospital When asked if there was a need for Estrada to stay longer in the hospital, Syquia said it would depend on his pain tolerance. “If the pain cannot be controlled adequately with the medications that we gave...he might have to be admitted for the pain

medications,” Syquia said. “I explained to the senator that these types of tears usually end up with surgery, because if you have a complete tear at the root of the meniscus, it’s as if the meniscus is not functioning at all,” he added. However, Estrada was seen being escorted out of the hospital at 4:25 p.m. for his return to the Quezon City Jail. The senator is being detained on plunder and graft charges filed by the Office of the Ombudsman for allegedly receiving kickbacks from the government’s flood control projects amounting to over P573 million for the period 2024-2025. Last Tuesday, the Sandiganbayan’s Fifth Division granted his motion for leave seeking permission to undergo knee X-ray at CSMC after experiencing persistent pain in both knees, which makes it difficult for him to walk. The Sandiganbayan allowed the senators to leave his detention cell at around 11 a.m. for his scheduled knee x-ray at 1 p.m. The anti-graft court directed the Bureau of Jail Management and Penology to return to him not later than 3 p.m. of the same date. In his motion for leave, Estrada noted that prior to his detention on June 1, 2026, he had been suffering from joint effusion in his knee joints and intermittent pain in both knees. He was previously diagnosed with osteoarthritis, a degenerative condition that affects his mobility.

SENATOR Jinggoy Estrada grimaces in pain as he arrives at the Cardinal Medical Center for x-rays on an ailing knee. PHOTO FROM PTV FB PAGE

Davao Light energizes 29th substation in Panabo, Davao del Norte By Manuel T. Cayon @awimailbox

AVAO CITY—The Aboitiz-owned Davao Light and Power Co., Inc. inaugurated its 29th distribution substation on Tuesday to further assure full energy support to the industrial estate in Panabo City, Davao del Norte. The substation is located in Barangay San Pedro, Panabo, 35 kilometers northeast of here, and has a capacity of 10 megavolt-ampere (MVA) 69, or 13.8 kilovolt (kV). The San Pedro substation was energized on August 2 and successfully loaded on August 8, the Davao Light said. It said the new substation was designed to meet the power demands of the 63-hectare agro-industrial park, Anflo Industrial Estate (AIE), which is a special economic zone accredited by the Philippine Economic Zone Authority (PEZA). This was the fourth substation in Panabo City and the facility will increase power capacity across the city and its surrounding communities. The Davao Light said the inauguration marked the official completion of Phase 1 of the project. The next phase will be designed for long-term load expansion to add 33 MVA capacity and is set for completion by December next year. Upon completion, the Phase 2 facility will operate as a fully digital substation

with automated monitoring and realtime data transmission, allowing Davao Light engineers to identify and resolve issues efficiently. The facility will also incorporate sustainable features, including a solar power system for lighting and other facility needs, as well as a rainwater harvesting system to support cleaning and routine maintenance. The project is part of Davao Light’s ongoing network upgrading and expansion to support growing power demand across its franchise area. “The San Pedro Substation powers the economic engines in the AIE, Panabo, and neighboring areas,” said Davao Light President and Chief Operating Officer Enriczar Tia. “By strengthening the power grid in Davao del Norte, we are helping ensure reliable electricity for businesses and communities while providing the capacity needed to support continued growth in the area. This milestone reflects Davao Light’s continuing investment in a stronger and more resilient distribution network to meet the evolving needs of the communities we serve.” The new facility will also strengthen the Davao Light presence across the province and of Davao de Oro, whose franchise has been handed over to it from the Northern Davao Electric Cooperative (Nordeco). The company is now in its 80th year since it started in Davao City.

Thursday, August 27, 2026

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Escudero issues triple ruling on impartiality, decorum in VP Sara impeachment trial By Butch Fernandez

circus, and weaponize the media to substitute public outrage for actual evidence,”he ordered. The ruling clarified that Rule XVIII applies only to prosecutors, the impeached official, and their counsels, and witnesses. Lawyerspokespersons but not counsel on record, however, may still be liable under Rule 71 on indirect contempt and the Code of Professional Responsibility and Accountability or the CPRA. The veteran legislator reiterated his earlier suggestion that parties appoint spokespersons outside their legal teams, or alternatively, that counsel withdraw as counsel of record if they wish to serve solely as spokespersons. In his third ruling, Escudero established detailed guidelines for compliance with Rule XVIII, defining “merits” as substantive issues such as witness credibility, evidence relevance, or guilt and innocence. While allowing neutral “fair and true reports” of proceedings, he prohibited statements that prejudge outcomes, question rulings, or use media pressure as substitute for proof. “For purposes of this trial, a statement pertains to the merits when, viewed in its full context, it evaluates a disputed fact; the credibility of a witness; or the relevance, probative value, weight, or sufficiency of particular evidence; assesses the legal viability of an Article of Impeachment or a substantive

defense; advocates a particular disposition of the charges; or announces or forecasts the ultimate vote,” he said. Under a two-strike policy that will govern violations, the impeachment court will give a public reprimand to first-time offenders and will impose a P30,000-fine to the second and subsequent offenses plus restriction on courtroom participation. Lawyers found in breach may also face referral to the Supreme Court or Integrated Bar of the Philippines for disciplinary action. Escudero said that referrals will not rest solely on Rule XVIII violations, but on independent breaches of CPRA’s standards of courtesy, civility, fairness, candor, or dignified language. The presiding officer again reminded prosecution and defense teams of their ethical duties: prosecutors must seek justice rather than conviction at all costs, while defense counsel must provide competent and diligent representation within the bounds of law and ethics. He also reiterated that lawyers are bound by the CPRA to avoid prejudgment and to maintain civility in and out of court. Closing his ruling, Escudero issued a final warning that willful disobedience of Rule XVIII would be met with contempt sanctions, citing jurisprudence to underscore the tribunal’s role in preserving public trust.

VP Sara to prosecutors: Prove impeachable offense with evidence, not insults

DepEd launches Project LIGTAS+ to shield schools from natural hazards

@butchfBM

SSERTING the sacredness of having senator-judges exhibit “cold neutrality” and other court officers conduct themselves properly always, Presiding Officer Francis “Chiz” Escudero on Wednesday issued a triple ruling on impartiality and decorum in the impeachment trial of Vice President Sara Duterte. He directed his pointed reminders to prosecutors, the respondent’s defense counsel, and senatorjudges to uphold fairness, professionalism, and public confidence in the Senate sitting as an impeachment court. Reprimands and fines await violators. Escudero reminded the prosecution team that their duty is not to convict, but to ensure justice is done. Quoting Canon II, Section 31 of the Code of Professional Responsibility and Accountability (CPRA), he said: “The primary

ICE President Sara Duterte onWednesday challenged the prosecutors and members of Congress to prove her impeachable offense “with evidence—not insults, speculation, or political theatrics.” In a statement, Duterte said that if the prosecutors and members of Congress wanted to “legitimize” the two impeachment complaints against her she claimed “filed without a

duty of a public prosecutor is not to convict but to see that justice is done.” He added that the prosecution’s objective “must therefore be the just resolution of the case — not victory at all costs,” a standard that governs both courtroom conduct and public statements. Turning to the defense, the veteran legislator emphasized that the counsel’s duty is not to secure acquittal at all costs but “to provide competent, efficient, conscientious, and diligent representation, citing People

shred of evidence,” they should be confident in the strength of the case. “They should not be fishing for evidence during the trial or desperately try to turn something they wish to be true into a wild story of alleged wrongdoing,” Duterte stressed. A strong case, she also pointed out, does not need the adornment of theatrics. She cited that a senator calling a witness “stupid,” a lawyer calling her the “mastermind of a scam” or another witness referring to her as a “brat” does not prove a case, nor does it produce evidence. “Insults reveal the need to feign confidence in the face of a weak presentation,” she said. “Mga kababayan, lubog na ang bansa sa baha at kahirapan, pero tila walang mananagot, dahil ang impeachment, ang paghati-hatian ang 2027 budget, at ang paghahanda kung papaano baliin ang Constitution para manatili sa puwesto ang prayoridad ng administrasyon at lahat ng kaalyado nito,” she furthered. The “senator” Duterte was apparently

of the Philippines v. XXX (G.R. No. 245926, July 25, 2023) that tells defense lawyers must “faithfully protect their client’s constitutional and procedural rights, rigorously test the prosecution’s evidence, and hold the prosecution to the burden of proof,” while remaining within the bounds of law and ethics. Addressing the senatorjudges, he invoked jurisprudence from Webb v. De Leon (G . R . No s. 1 2 1 2 3 4 a n d 1 2 1 2 4 5 , Au gust 23, 1995): “More than convicting the guilty and acquitting the innocent, the business of this Court is to assure fulfillment of the promise that justice shall be done and is done — and that is the only way for this Court to obtain an acquittal from the bar of public opinion.” He said that obligation rests on every senator judge “to decide solely upon the record, under the Constitution and the Rules, and in a manner worthy of the confidence of the people.” The closing reminders capped the presiding officer’s triple ruling that earlier directed all parties to halt trialrelated commentary outside the court and to preserve decorum and impartiality. In his first ruling, Escudero reminded the senatorjudges to embody restraint and practice political neutrality, citing their oath “to do impartial justice” and provisions of the Code of Judicial Conduct.

referring to is Senator-Judge Raffy Tulfo who described former Office of the Vice President (OVP) special disbursing officer Gina Acosta as “stupid in the name of blind loyalty” during the 17th day of the impeachment trial. On Tuesday, the day 18 of the trial, private prosecutor Atty. Mae Divinagracia used the words “scam”and“mastermind,”which the prosecution lawyer used in her direct examination of OVP Asec. Lemuel Ortonio, a hostile witness. Defense counsel Kristine Ferrer immediately objected and moved to strike the statement from the record. “Your honor, please, objection. Moved to strike, your honor, the statement,” Ferrer said. She then complained to the impeachment court about what she said is the frequent use of such terms by the prosecution, especially during their closing arguments. “We would like to ask the court to remind the prosecution not to use inappropriate words like scam, mastermind and nagsisinungaling. This is the third time your honor that we heard

Stressing that impartiality must be observed not only in fact but also in appearance, he said: “This Court has repeatedly and consistently demanded ‘the cold neutrality of an impartial judge’ as the indispensable imperative of due process.” The presiding officer clarified that while senator judges retain the authority to probe witnesses for truth, he cautioned against turning clarificatory questions into partisan advocacy. Alleged violations of the impeachment oath or Senate rules, he added, should be addressed through the Senate Committee on Ethics and Privileges. Escudero’s second ruling focused on Rule XVIII of the Senate’s impeachment rules, which bars public statements on the merits of a pending trial. Forgiving past lapses, he declared that the rule would henceforth be strictly enforced. “From this point forward, Rule XVIII shall be strictly enforced and given full force and effect. Henceforth, the Chair hereby strictly enjoins all persons covered by Rule XVIII … from making public statements or otherwise discussing, sharing, or endorsing comments pertaining to the merits of this pending impeachment trial and from engaging in trial by publicity, as they directly threaten the independence of the court, degrade the dignity of the tribunal, and risk turning it into a

those words, specifically the word 'scam.' This is a solemn proceeding, this is a court of law, a court of procedures, and actually, a court of decorum and we are not supposed to make accusation, conclusion or insinuation, so we request the court to kindly remind the prosecution,” Ferrer said. “It does seem that it’s becoming a habit. I would rather use the word “habit” than “pattern” for the panel of prosecutors to close their direct examination with such strong statements,” Ferrer added. The defense counsel said such words were “inappropriate” for the proceedings. Presiding Officer Francis “Chiz’ Escudero said he agreed with the defense on the matter. Duterte was also referring to the July 21, 2026, trial wherein during cross-examination by defense lawyer Mark Vinluan National Bureau of Investigation Director Melvin Matibag stated that he heard the term “bratinella” used by former President Rodrigo Duterte when referring to the Vice President.

Leading questions not misleading questions

DEFENSE counsel Kristine Ferrer clarified during the 19th day of the impeachment trial that she meant to say “leading questions,” not “misleading questions,” were allowed during the cross-examination on August 12 impeachment trial. However, private prosecutor Lorna Kapunan was not convinced, and maintained that Ferrer had been referring to misleading questions. “Before I start my cross-examination, just to put the record straight, your honor. When I said they are allowed, I was referring to leading questions,” said Ferrer who raised the matter before she started her cross- examination of Office of the Vice President Assistant Secretary and Assistant Chief of Staff Lemuel Ortonio. “Because the journal dated August 12

H E Depar tment of Education (DepEd) launched Project LIGTAS+ (Learning Institution Geohazard Tracking and Assessment for Safety) on Wednesday to shield learners from recurring disaster-related disruptions. Education Secretar y Juan Edgardo Angara said that the platform integrates artificial intelligence (AI), satellite imagery, and geospatial analytics with school-level risk data to convert fragmented hazard updates into real-time, actionable intelligence for education leaders. The launch was marked by a ceremonial commitment signing between DepEd and partner agencies, including the Department of

See “VP Sara,” A9

See “DepEd,” A9

Thursday, August 27, 2026

DepEd’s textbook revolution: 105 titles procured, zero delays

By Claudeth Mocon-Ciriaco

@claudethmc3

HE decade-long problem on textbook shortages is now a thing of the past.

logistics monitoring, with complete delivery anticipated by December 2026. “For ten years, our public school system was trapped in a cycle where procuring a single textbook title took up to three years, leaving millions of learners and teachers without the fundamental tools they needed,” said Education Secretary Juan Edgardo Angara. “When 27 titles in a decade is your baseline, delivering 105 titles in a single year isn’t just an administrative achievement; it is a fundamental restoration of service to our learners. We dismantled unnecessary bottlenecks, strictly enforced timeline discipline, and proved that transparency, speed, and quality control can go hand-in-hand to ensure our schools receive complete, high-quality learning resources without delay.” Progress accelerated through incremental policy adjustments, rising from 31 percent completion during the 2014–2023 period to 57 percent across 2024 and 2025 combined, before hitting 100 percent completion this year. The operational shift stems directly from the implementation of DepEd Order No.

008, series of 2025, which introduced strict timeline limits, mandatory blind content evaluations, and the elimination of redundant review cycles. Under these updated policy guidelines, initial technical checks are completed within five days, content evaluation is strictly capped within a 90-calendar-day framework, and price considerations are decoupled from material quality scoring. Once a title passes all quality assurance stages, it proceeds directly to procurement without further text modifications, effectively ending the multi-year approval delays that previously starved classrooms of up-to-date instructional materials. Under the new governance framework, responsibility is clearly delineated across all organizational levels, from Central Office oversight to delivery monitoring by regional offices, school division offices, and school principals. All 105 approved printed and electronic textbook titles are now moving through procurement and nationwide distribution for classroom implementation.

The Department of Education (DepEd) on Wednesday announced an unprecedented procurement breakthrough after they successfully secured all 105 target textbook titles for public elementary and secondary schools. The procurement covers learning resources required for the successive phases of curriculum implementation, beginning with Grades 1, 4, 7, and Senior High School (SHS) in 2024; followed by Grade 3 and Grades 2, 5, and 8 in 2025; and Grades 6, 9, and 10 in 2026, with all phases completed this year. This milestone, the DepEd said, overhauls the national learning resource pipeline, delivering nearly four times the total number of titles procured across the

prior decade combined. The achievement addresses long-standing systemic bottlenecks highlighted by the Second Congressional Commission on Education (EDCOM II), which revealed that the agency managed to procure only 27 out of 88 required titles between 2014 and 2023. The procurement of K–12 textbooks and teachers’ manuals for the Senior High School (SHS) Core Subjects has completed the bid opening stage with complete bidders in all lots and is currently undergoing the detailed evaluation of bidding documents, subject to the completion of the procurement process and award of contracts. Upon contract award, the focus will shift to production, nationwide delivery, and

NBI rescues 5 Vietnamese women believed to be victims of human trafficking

Marcos shifts admin supervision of PCUP, NAPC to OP

By Joel R. San Juan @jrsanjuan1573

HE National Bureau of Investigation (NBI) on Wednesday announced the rescue of five Vietnamese nationals believed to be victims of human trafficking as the agency intensifies its ongoing efforts against such crime. NBI Director Melvin A. Matibag said the rescue operation was initiated by the agents of the NBI-Human Trafficking Division (NBI-HTRAD) as part of its expanded operations to combat human trafficking through extensive surveillance and coordination with local and international law enforcement agencies. The operation was conducted last August 11 following an intelligence report indicating that a Vietnamese national was involved in sex trafficking. The individual was reportedly recruiting and transporting foreign women, including alleged minors, to Manila for commercial sexual exploitation. Acting on the said information, an undercover agent from the NBI-HTRAD contacted the individual via Telegram. During their interactions, the individual offered women for sexual services in exchange for payment. After negotiations, the said individual agreed to deliver a woman of his choosing to a specific location, a hotel in Pasay City, where the undercover agent was waiting. Subsequently, the NBI together with Pasay Social Welfare and Development Department (PSWDD) hatched an entrapment and rescue operation to capture the suspect. During the operation, the operatives intercepted two Vietnamese women which include the woman offered by the suspect to the undercover agent and another one who has access to the Telegram account that was used in the transaction. The rescued victims told the arresting officers that their belongings were in a unit in a condominium building in Pasay, prompting the operatives to accompany them to the said place. While inside the unit, the NBI agents discovered a transparent plastic sachet containing suspected shabu and three drug paraphernalia items. The trafficked victims admitted that they used these illegal drugs before every meeting with their clients. During interrogation, one of the trafficked victims confessed that she had previously been housed in another condominium unit in Pasay with other women which led authorities to conduct a follow-up operation. The NBI-HTRAD operatives proceeded to the condominium and were able to rescue three Vietnamese nationals, who were also victims of human trafficking. Matibag commended the NBI-HTRAD agents for their successful operation against a notorious prostitution ring.

S the government reviews its poverty metrics, President Ferdinand Marcos Jr. returned the Presidential Commission for the Urban Poor (PCUP) and the National Anti-Poverty Commission (NAPC) under the supervision of the Office of the President (OP). Both commissions were previously placed under the Department of Social Welfare and Development (DSWD) through Executive Order (EO) No. 67 (series of 2018) to harmonize government poverty-related policies. Last week, Marcos decided to repeal EO 67 and bring back the said commissions to

the OP through EO 123. “Placing the PCUP and NAPC under the administrative supervision of OP will strengthen policy coordination, ensure greater convergence of poverty reduction and urban development initiatives, and facilitate the efficient implementation of programs requiring a whole-of-government approach,” the new two-page issuance stated. NAPC serves as the coordinating and advisory body for the governments social reform agenda, while the PCUP provides the consultative mechanisms and provides recommendation to the President on poverty-

related policies. Under EO No. 292 or the “Administrative Code of 1987,” the President can reorganize the administrative structure of OP in order to achieve simplicity, economy, and efficiency EO 67 took effect immediately after it was issued on 18 August 2026. The Philippine Statistics Authority (PSA) reported that that poverty threshold dropped to 9.7 percent in 2025 from 15.5 percent in 2023. The latest poverty threshold figures, however, drew criticisms for using outdated methodology. Samuel P. Medenilla

DILG and NYC honor Tacloban 15-year-old school shooting hero

HE Department of the Interior and Local Government (DILG), together with the National Youth Commission (NYC), has posthumously conferred 15-yearold Chris Lorenz Fabian with the Youth Heroism Award for his extraordinary courage during the tragic shooting incident at San Jose National High School in Tacloban City. DILG Region 8 Director Arnel Agabe conferred the special citation in honor of Fabian, who sacrificed his life to save at least 30 fellow students after blocking an entryway and placing himself in the line of fire to prevent the armed student attackers from entering their classroom. In a message read by Agabe, DILG Secretary Jonvic Remulla said the Award recognizes Fabian’s bravery and serves as a lasting tribute to a young Filipino whose selfless and courageous act spared dozens of lives from further tragedy.

Vows stronger school safety measures

At the same time, the DILG chief vowed to

VP Sara. . . Continued from A8

would show that I was indeed asking a leading question before Atty. Kapunan objected, your honor,” she added, recalling the incident when she cross-examined of Commission on Audit auditor Xylene Mae del Campo. Ferrer also said she should be allowed to ask questions in her own manner. She said she was asking a leading question to del Campo when Kapunan objected. “So, if we take a look at it, with all due respect, the objection was even improper at

DepEd. . . Continued from A8

Science and Technology (DOST), the Philippine Atmospheric Geophysical Astronomical Services Administration (PAGASA), the Philippine Institute of Volcanology and Seismology (PHIVOLCS), and the UP Resilience Institute (UPRI). “We cannot solely rely on our resilience, especially when it comes to education. We have to make sure that our schools are prepared, ready to respond, and ready to move forward with learning, whatever challenges may come...Hindi sapat na alam nating may panganib. Kailangan alam natin kung saan ito, sino ang maaapektuhan, gaano kalaki ang risk,

strengthen school safety and security to protect both students and teachers from threats, including gun violence. He said the grief felt by Tacloban City and the nation over the untimely passing of Fabian and the other victims of the school shooting must also strengthen the resolve of government and communities to improve policies and measures that protect children in schools. “Through our Safer School Zones and Safe Cities initiatives, the DILG commits to continue working earnestly alongside our local leaders, police forces, and educators to protect our children, strengthen security, and ensure every school gate across our region remains a barrier against harm,” Remulla said.

Strict campus safety protocols

TO help ensure that no other family endures the same heartbreak, Remulla said the DILG is actively overseeing LGUs in institutionalizing strict campus safety protocols, enhancing police visibility around academic zones, and

empowering communities to recognize and intercept threats early. Fabian’s family, including his parents Christopher and Erbea and his grandfather Rodrigo, attended the commemoration program prepared by DILG Region 8. “Hindi namin alam kung paano magsimula kung wala siya, pero sa nagawa niya po, hindi na po niya naisip ang sarili niya, mas inuna niya po ang kapakanan ng iba, kaya nandidito po kami para magpasalamat po sa pagkilala ninyo sa kanya,” Fabian’s mother said. The DILG also urged the City Government of Tacloban and other local stakeholders to commemorate Fabian as a local youth hero whose legacy will continue to inspire future generations and serve as a reminder of the collective responsibility to keep schools safe. The recognition also reflects the government’s commitment to President Ferdinand Marcos Jr.’s directive to ensure that schools remain safe spaces where students can learn without fear. Jonathan L. Mayuga

that time, your honor,” Ferrer said. Kapunan, however, said that some questions are not simply answerable by a simple yes or no. Spokesperson for the defense team Atty. Michael Poa emphasized their team’s commitment following the rulings of the impeachment court, including the recent order concerning their public statements. Senate Impeachment Court Presiding Officer Francis “Chiz” Escudero on Wednesday issued a strict enforcement of the sub judice rule, prohibiting public discussions, media commentary, or outside statements regarding the merits of the active case.

However, due to the matter, Poa said that he will discuss with Duterte. He also apologized to the members of the media after he declined some scheduled interviews “But I appreciate, of course, the ruling of the presiding officer,” he said, adding that he totally agree to the decision. “But to be honest, we don’t want to comment any further,” he said. Poa also said that the defense is actively looking for a new spokesperson to better manage communications and explain the technical legal process to the public.

at ano ang kailangan nating gawin bago pa maging krisis ang isang hazard,” Angara said as he underscored the urgent need to shift from passive resilience to proactive disaster management to protect the country’s learners. Citing data from the Second Congressional Commission on Education (EDCOM II) showing that schools lose an average of 40 to 50 instructional days annually due to natural hazards, Angara emphasized that every canceled class deepens learning losses. “ Sa pamamagitan ng LIGTAS+ , with its artificial intelligence-powered features, magkakaroon tayo ng mas malinaw, at mas actionable na impormasyon upang masuportahan ang ating mga paaralan. Our tool will surely benefit our thousands of schools

nationwide,” Angara said. The national rollout follows its successful user acceptance testing and operational integration. Developed by DepEd’s Disaster Risk Reduction and Management Service (DRRMS) alongside the Education Center for AI Research (ECAIR), Project LIGTAS+ delivers immediate impact by eliminating data bottlenecks and drastically accelerating response times during emergencies. During the demonstration, attendees witnessed how the system slashes official situation report preparation from hours to just five minutes. Attendees also saw its real-time tracking of rainfall, extreme heat, wind speeds, and temperature spikes to alert authorities before hazards escalate.

Claudeth S. Mocon-Ciriaco

A10 Thursday, August 27, 2026

TheWorld

Editor: Dennis Estopace

Indian student unrest persists in challenge to Modi’s government By Atul Dev

Bloomberg News

TUDENT protests continue to simmer across India, a month after nationwide demonstrations over an exam scandal forced the country’s education minister to resign, underscoring persistent anger over the integrity of the country’s testing and recruitment system.

More than a thousand students clashed with police in Bihar, one of India’s poorest and most populous states, on Tuesday over changes to teacher recruitment exams. The protesters oppose a new two-stage testing process, arguing it leads to different standards of difficulty for aspirants and that it could increase the risk of questionpaper leaks. The agitation comes a month after protests in Delhi forced a rare retreat by Prime Minister Narendra Modi’s government. Since then, unrest has spread to other states. In opposition-ruled Jharkhand, students staged a hunger strike and pressured authorities to cancel exams over alleged irregularities and order investigations.

The Cockroach Janta Par ty, which spearheaded the Delhi agitation, has since turned its focus on poor conditions in government-run schools. However, it has called for a fresh protest on September 5, saying the government has failed to honor commitments it made in July to provide financial compensation for the families of the students who died by suicide and the withdrawal of police cases filed against protesters. The Bihar protest turned violent on Tuesday as students in the capital Patna tried to march toward Chief Minister Samrat Choudhary’s residence. The protest site has since drawn other groups demanding See “Modi,” A12

Indian refiners widen oil search as attacks hurt Russian flows

NDIAN refiners are scaling back buying of Russian crude from elevated levels, as Ukrainian attacks hurt flows from the nation’s top supplier. Given the pressure on Moscow’s crude exports, processors have been seeking alternative barrels from regions including

West Africa and even the Americas, while also turning to Persian Gulf suppliers despite still-restricted flows through the Strait of Hormuz because of the US-Iran war. The shift in Indian processors’ buying patterns coincides with an expected increase in nationwide demand as a spate

of plant maintenance comes to an end, enabling refiners to boost run rates and step up production. The global crude market is grappling with disruptions caused by the conflicts between Moscow and Kyiv, as well as in the Middle East. Russia became India’s

dominant supplier after the war in Ukraine erupted in 2022, and last month, flows from the Opec+ producer accounted for more than half of its imports. This month, imports of Russian crude are See “Indian,” A12

Britain becoming more efficient and it’s little to do with AI tech By Tom Rees

Bloomberg News

OINTING to a chasm between the British and American economies, a report drawn up for Andy Burnham’s leadership bid warned:“We have a productivity problem.” The country needed to be more efficient for the sake of prosperity and wellpaying jobs, it said. This diagnosis did not come from Burnham’s successful run at the top job this year, however, which led to him becoming Prime Minister. Rather, it was from way back in 2015 when he unsuccessfully stood to be leader of the Labour Party. For another decade after that report was written, UK productivity showed little sign of growing at the rate it had done before the global financial crisis. It slowed and sputtered, keeping the UK stuck in an economic slump. That is, until now. Since the first quarter of 2025, year-

on-year productivity gains have averaged around 2 percent, according to Bloomberg Economics calculations that use a more trusted measure of employment than the official headline figures. That uptick has caught the eye of other economists too— but what’s also captured their attention is that the revival seems to have little to do with artificial intelligence. “For now, the revival of productivity looks as mysterious as its fall,”said Stephen Hunsaker and Simon Pittaway at the Resolution Foundation. “But it looks genuine: workers across the economy are producing more, rather than the least productive parts of the economy simply shrinking.” Their research found that the improvement has been broad-based, covering 12 of 19 sectors, and was not just down to AI. While the single biggest contributor in recent years was the information and communication sector, See “AI,” A12

www.businessmirror.com.ph

Private. . . Continued from A3

Cuna, when asked if the DENR has enough survey resources, said “no.” Director Emelye V. Talabis of the Land Management Bureau, said the DENR’s budget is not enough to resolve disputes related to land survey. Land cases handled by the DENR, she said, have a budget for budget resolution, but the budget is meager and not sufficient to resolve disputes, to which San Fernando asked back whether the DENR’s budget request for land survey is aided by the demand from the ground, namely Cenros and Penros. Without providing details, he said applications for land surveys or survey requests are piling up because local DENR offices often point the applicants to go to the other offices for their survey requests because, allegedly, there’s no budget for land surveys. The Undersecretary for Legal, Organization, Transformation and Human Resources, Ernesto Adobo, explained that sometimes, this happens because the budget is based on the DENR’s target for every year.

DENR. . . Continued from A4

For 2027, he said the DENR aims to support community-based social enterprises, ensuring that the objective is not merely to plant trees, but to restore biodiversity and strengthen ecosystem resilience, and create sustainable livelihoods for local communities. In his presentation, the DENR chief said the goal is to generate 225,392 jobs for 52,815 individuals via the E-NGP. Moreover, the DENR said it targets to issue 43,596 land patents for residential, agricultural and special purposes. Meanwhile, for the mining sector, Cuna said the target is to drive towards a 2 percent mining Gross Domestic Product Contribution by the end of the year. This involves generating 207,923 jobs and mineral exports of around $7 billion. In 2027, the target is to establish 10 new Minahang Bayan sites and to fast-track the assessment of quadrangle geological maps to determine critical mineral potentials. The DENR chief also stressed the allocation of P124 million for direct financial assistance to water districts to eo expand service to unserved barangays to boost water security. In terms of advancing a clean and healthy environment, Cuna said the DENR aims to empower local governments (LGU) and the private sector in solid waste management. He noted that the Extended Producers Responsibility has mobilized 962 enterprises, which have successfully diverted

Cordillera. . . Continued from B8

Aside from securing food transport, the DA is also looking to ensure storage of vegetable crops during harsh weather brought about by storms and El Niño. He said cold storage is important, and this is the focus of the President and Secretary Tiu-Laurel. “Marami nang natapos and marami

Cebu. . . Continued from B8

To, however, declined to identify the company or disclose specific investment details, saying its chief executive is expected to make the formal announcement during the upcoming economic forum. The province’s investment push comes as foreign investors from several countries show interest in Cebu. To said the three previous investment forums had attracted participants from China, South Korea, Oman, Russia, and Europe, while Vietnam and Singapore have also expressed interest. He estimated that about P4 billion in investments had been generated from the investment forums since the initiative began, with the investments largely focused on development and infrastructure rather than tourism. Still, Cebu’s bid to attract more manufacturing investments faces infrastructure concerns, particularly power. To said investors typically consider labor, energy and water costs when evaluating potential investment destinations. The province

TheWorld When the target is met, he said it also means the budget for land survey is already depleted or used up. Cuna, for his part, said that upon requests by the local offices, the DENR Central Office also provides funding for land survey if it is necessary. However, San Fernando said the problem also lies in the fact that the budget for land survey needs to be requested from the DENR Regional Offices, because the local offices have none for the purpose. “They have to go back and forth only to be told later that there’s no budget and asked to go to private surveyors,” San Fernando said. In San Narciso, Quezon, San Fernando noted that qualified applicants of land tenure or agricultural free patents complain of having no security of tenure because of the slow-paced processing of agricultural free patents. The land, involving 40 hectares, needed to be surveyed as part of the process of granting an agricultural free patent. This, he said, is not happening, even if the private claim was already rejected a decade earlier, thereby prolonging the wait of the applicants. 244 million kilograms of plastic packaging footprints. To boost proper waste segregation and promote recycling, the DER aims to provide direct assistance to 4,400 barangays to operationalize Materials Recovery Facility (MRF), and assist 53 local government units (LGUs) with on-site assessment and 68 LGUs with conceptual designs for solid waste management facilities. Moreover, the DENR chief said the agency aims to expand the country’s network of sanitary landfills by operationalizing more landfills, targeting 397 existing sanitary landfills servicing 805 cities and towns nationwide. In strengthening the ecosystem’s integrity and climate resilience, the DENR chief said the DENR will continue to safeguard critical ecosystems and promote wildlife conservation through the Protected Areas. There are currently 121 legislated Protected Areas covering 4.51 million hectares. The Philippines also maintains a total of 70 Wildlife Rescue Centers. Meanwhile, the DENR also targets to strengthen the network of Marine Protected Areas and implement the 10 Research and Development Agenda and Operationalization of Marine Science Research Centers, on top of the 8 facilities already established. The DENR is enhancing its capacity and workforce to establish site-specific ecosystem accounts as mandated by the Natural Accounting or PENCAS law. “By measuring the economic value of our environment, the ecosystem services and the tangible benefits of conservation, we are enabling smarter, data-driven planning, programming and budgeting,” he said.

pang ongoing. Kailangan talaga ang cold storage sa ganitong panahon na sobrang ulan at hindi makagalaw ang merkado. You can expect na tuloy-tuloy ang pagsasagawa nitong necessary infrastructure gaya nitong cold storage.” Earlier, DA announced that they are enhancing their early-warning systems for supply disruptions and crop spoilage caused by weather systems, and produce timely alerts for upcoming harvests. is therefore looking at alternative energy technologies as part of efforts to improve its competitiveness. The investment strategy is also being supported by efforts to streamline transactions for prospective investors. Paulo Uy, the province’s investment and promotions officer, said the planned investment promotions office will establish an ease-ofdoing-business help desk that will assist investors with bureaucratic requirements and route documents to the appropriate government offices. The province is also exploring the development of idle government properties for investment, including a planned mega food hub on the Balili property in Naga City, southern Cebu, Uy said. For Cebu, the objective is to move beyond traditional investment areas and attract new industries that can provide jobs, technology, and longer-term economic activity. “We have the workforce. We have motivated people. We have multilingual people. We have an adaptable workforce. Retrainable. Very quickly,” To said, arguing that the province’s challenge is to match that workforce with new investment opportunities.

Thursday, August 27, 2026 A11

Natural gas eclipses oil as key inflation risk for European debt By George Nixon

for 21 percent of the EU’s energy mix, and between 25 percent and 35 percent for the UK. “The natural gas price is more relevant to the UK and Europe and never really recovered in any of the ceasefires and continues to leg higher,” said Emma Moriarty, portfolio manager at CG Asset Management. The firm has boosted the position of inflationlinked government bonds in its f lagship multi-asset fund to a near-record 49 percent, prompted by the risk of sustained price pressures.

Bond yields have spiked on other worries too, including unsustainable public finances, a flood of borrowing by hyperscalers and unpredictable US policymaking. But market participants say gas is now the biggest energyrelated risk to the outlook for European and UK interest rates, even though prices remain way below highs hit after Russia invaded Ukraine in 2022. “Natural gas prices have taken over as the key driver of yields,” said Jamie Searle, European rates strategist at Citigroup. “Since the beginning of July, duration has continued to track natural gas prices and paid somewhat less attention to oil,” he added, pointing to the correlation with benchmark 10-year bonds. The war in the Middle East prompted governments and companies to delay refilling tanks, hoping that the conflict would be short and prices would moderate. Meanwhile, extreme heat boosted demand over the summer, leaving gas storage just 63 percent full,

the lowest for the time of year since 2009. The Strait of Hormuz typically accounts for about 20 percent of global LNG supply and unlike in oil, there are no alternative routes to get that gas to market and few strategic stockpiles to help absorb the shortfall. Strateg ists at R BC Capita l Markets including Megum Muhic wrote in a note on August 13 that a “potential energy crisis is emerging in gas markets,” one with “far w ider inf lation pass-through than oil.” The European Central Bank has already increased rates once this year, while the Bank of England has been on hold. Money markets are pricing one hike by both central banks by the end of this year, followed by another one by September 2027. Some market participants say those assumptions may have to change, given the risk of higher gas prices and the lack of agreement between the US and Iran on reopening the Strait of Hormuz.

Barbers said the issue was not merely about who physically received the money but whether established administrative and financial safeguards were followed. Deputy Speaker Jefferson Khonghun, likewise, said the testimony pointed to possible defects in the process used to assign responsibility for the confidential funds. Khonghun, who represents Zambales, said the inquiry should determine who authorized the arrangement and who ordered Lachica to handle the disbursement and implementation of confidential activities. He said the issue ultimately raised questions of command responsibility and accountability within the OVP.

The prosecution presented Ortonio as a hostile witness in connection with Article I of the impeachment complaint against Duter te, which involves allegations of systematic misuse, misappropriation and irregular liquidation of confidential funds. Meanwhile, the House prosecution will call Duterte’s defense lawyer and former Department of Education chief of staff Michael Wesley Poa, to testify next week regarding the alleged misuse of P112.5 million in DepEd confidential funds. Senate Impeachment Court Presiding Officer Francis Escudero noted that Poa is willing to testify without a subpoena and could take the stand as early as September 1 if scheduled

military witnesses fail to appear. Poa’s testimony centers on his role in obtaining military certifications for DepEd’s audit responses – certifications that military officers Col. Manaros Boransing II and Col. Magtangol Panopio previously disputed, stating their units received no funds. Boransing and Panopio are scheduled to testify on September 1. Additionally, Philippine Statistics Authority (PSA) official Marizza Grande is scheduled to testify on September 2 regarding unverified recipient names on fund receipts, while retired Maj. Gen. Adonis Bajao was dropped from the witness list due to an unverified address.

Bloomberg News

ATURAL gas has overtaken oil to become the biggest concern for European bond traders as depleted supplies of the key fuel threaten a resurgence in inflation. European gas prices are near five-month highs and winter contracts cost more than twice as much as they did a year ago. Yields on 10-year German and UK debt have touched levels not seen in decades, even as Brent crude trades 30 percent below the peak hit on the back of the US-Iran war. Investors are concerned that rising gas prices will reignite inflation, forcing central banks to increase interest rates more aggressively than markets currently expect. Gas plays a central role in the region’s economy, accounting

Sara. . . Continued from A4

Barbers said Lachica’s status was significant because he was not an organic employee of the OVP, was not a designated special disbursing officer and did not have a fidelity bond. “He was not bonded, he was not a special disbursing officer, and he should not have been involved in the use of these funds,” Barbers said. He said Lachica’s lack of formal OVP employment raised further questions over how such a large amount of confidential funds could have been placed under his custody.

Jovee Marie N. dela Cruz

A12 Thursday, August 27, 2026

TheWorld

Insurers want a bigger slice of bank risk transfer boom By Esteban Duarte

Bloomberg News

NSURERS are aiming for a bigger slice of the market for significant risk transfers this year as banks step up their use of the hedging instruments. Firms expect to participate in about 50 percent more SRTs than in 2025, according to a survey of 14 global insurers and reinsurers by the International Association of Credit Portfolio Managers. They predict that growth will be strongest in transactions linked to corporate loans and asset-based finance, followed by deals tied to residential mortgages, the survey found. Banks use SRTs to insure loans against default, typically obtaining protection for between 5 percent and 15 percent of the portfolio value. The instrument also allows lenders to boost their solvency ratios or free up capital.

Most transactions are funded, with investors putting up cash as collateral to cover potential losses in return for a coupon. Insurers tend to participate in unfunded SRTs, by issuing a type of credit guarantee. The Bank of England is concerned that this type of deal may leave banks exposed to greater risk at times of stress because it relies on insurers being able to honor their guarantees. The IACPM survey found that the number of unfunded credit protections increased to 96 in 2025, from 78 the previous year. Insurers protected approximately €4.7 billion ($5.5 billion) of SRT tranches last year, compared

with €2.7 billion in 2024. At the end of 2025, insurers had provided protection on €10.9 billion of outstanding SRT tranches executed since 2019, linked to risk on €366 billion in loans. Deals tied to lending to large corporates and small and medium-sized enterprises represented 58 percent of new business last year, followed by residential mortgages, which accounted for 20 percent of newlyprotected portfolios. Lending in the European Union accounts for 63 percent of the reference portfolios hedged via unfunded credit protections, followed by the US with 17 percent and other European nations, including the UK, with 12 percent, according to the survey. Banks that recently marketed or completed unfunded credit protections include BNP Paribas SA, Mitsubishi UFJ Financial Group Inc. and Austria’s Erste Group Bank AG, which turned to insurers for an SRT to free up capital for its acquisition of Santander Bank Polska. Lenders including Banco Santander SA and UniCredit SpA regularly place some of their SRTs with insurance firms. MunichRe AG, AXA SA, AXIS Capital Holdings Ltd and Liberty Mutual are among insurance firms investing in unfunded SRTs. Such transactions are directly agreed with banks or via arrangers and insurance brokers including Howden Group or Marsh & McLennan Co.

AI. . . Continued from A10

this part of the economy has long been a “bright spot” for the UK.

Budget benefit

A SUDDEN revival in Britain’s productivity growth would be well-timed for Burnham and his Chancellor of the Exchequer John Healey, as they draw up their first budget against a tight fiscal backdrop. Weak growth has made it difficult to pump more money into Britain’s ailing public services while keeping the national

Modi. . . Continued from A10

changes to government hiring, including higher age limits for some jobs and reforms to the recruitment of librarians and university teachers. “Instead of ensuring transparency, those in government are engaged in covering up the issues,” Sudhakar Singh, a leader of the opposition Rashtriya Janata Dal told local press. “As a result, the Gen Z and Gen Alpha generations believe that the current governments are incapable of addressing

Indian. . . Continued from A10

expected to fall to about 2 million barrels a day, down from a high of around 2.8 million barrels in July, according to Sumit Ritolia, senior manager of modeling at analytics firm Kpler. The decline reflects “some normalization after very strong crude-buying in recent months, lower Russian export availability and increasing competition from China,” as well as the maintenance, Ritolia said. Flows from Russia to India are now expected to normalize above the 2-millionbarrel-a-day level in the coming months, he added. Indian Oil Corp., the nation’s largest refiner, recently issued tenders for supply from as far away as the Americas—a rare move—as well as another that mainly sought crudes from the Persian Gulf. Industry peers Hindustan Petroleum Co r p. a n d M a n g a l o r e R e f i n e r y & debt stable. The malaise has also weighed on real wages since the financial crisis, potentially fuelling political populism including the Brexit vote and Nigel Farage’s Reform UK party—which until recently led national opinion polls. A reassessment of Britain’s productivity prospects for the coming years could give Burnham and Healey more money to play with, though the autumn budget on October 28 is likely to be too soon for any change in the official outlook. Economists are finding it more difficult than usual to spot a productivity revival because they still distrust the UK’s Labour Force Survey that underpins the official

www.businessmirror.com.ph

their problems.” A spokesperson for the ruling Bharatiya Janata Party wasn’t immediately available for comment. Dhananjay, Bihar president of the All India Students’ Association, accused the Bihar Public Service Commission of exam irregularities and criticized it for failing to provide candidates with their answer sheets or disclose the company hired to evaluate them. “The students are frustrated but also hopeful they can make the government listen to them,” said Dhananjay, who only goes by his first name. Petrochemicals Ltd. also made snap purchases of non-Russian crude this week. IOC, HPCL and MRPL didn’t immediately respond to requests for comment. Waves of Ukrainian attacks on Russia’s refiners and Black Sea ports have both spurred local fuel shortages, and prevented Moscow from diverting crude into the export market. Over the past four weeks, overseas shipments fell to about 3.5 million barrels a day, from a high of over 4 million barrels a day in July, tanker-movement data compiled by Bloomberg showed. India was also competing with China for cut-price barrels, according to Kpler’s Ritolia. October-loading cargoes of Sokol— which ship from Russia’s east—were bought unusually early, pointing to stronger so-called forward demand and rising interest in available grades, he added. India and China usually don’t compete with each other for western and eastern Russian oil varieties, respectively, but the tightening market may shift that stance. Bloomberg News

unemployment and employment estimates. That data shows output per hour worked down slightly in the second quarter of 2026 compared with two years earlier. Experts prefer using tax data to gauge the strength of employment, which instead shows productivity rising almost 3 percent in the past two years. Even the Office for National Statistics recently said the tax figures are the “best measure of changes in labor productivity.” Katharine Neiss, chief European economist at PGIM Credit, said a similar situation in the US strengthens the argument that UK productivity is improving even before a boost from AI.

Briefs Pakistan hospital fire kills 14 infants

FOURTEEN infants were killed in a fire at one of the largest hospitals in Pakistan’s capital Islamabad early Wednesday, prompting Prime Minister Shehbaz Sharif to order an investigation and remove the country’s top federal health official. The blaze broke out in a wing housing infants at the Pakistan Institute of Medical Sciences, or PIMS, according to a statement from the prime minister’s office. PIMS is a state-run medical facility where former Prime Minister Imran Khan was taken for a health check last week. Emergency crews rushed to the hospital, with six fire engines and four ambulances deployed to the scene, the Islamabad administration said. Bloomberg News

Macquarie backs out from hiring KPMG

MACQUARIE Group Ltd. will retain PricewaterhouseCoopers as its auditor, a decision that adds to the challenges facing KPMG Australia amid a widening scandal. Macquarie said it will no longer recommend to its shareholders to appoint KPMG as its auditor at its 2027 annual general meeting, according to a statement on Wednesday. Macquarie reconfirmed PwC’s ongoing capacity to deliver its global audit, it said. KPMG Australia has been battling the fallout from allegations it misused confidential information from companies including property developer Lendlease Group to win contracts with other corporate clients. Bloomberg News

Japan to back pipelines to bypass Hormuz

JAPAN plans to support the construction of pipelines that bypass the Strait of Hormuz after the US-Iran war laid bare the country’s vulnerability to disruptions in Middle Eastern oil supplies. The plan is part of a new energy strategy that’s aimed at strengthening supply security, according to documents from Japan’s Cabinet Office on Wednesday. Other measures include diversifying oil procurement sources and providing support with shipping costs, the documents show. Bloomberg News

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2nd Front Page BusinessMirror

WAGE EARNERS IN 16 REGIONS SEE PURCHASING POWER CUT By Mary Jade Jadormio

INIMUM wage earners in 16 of 17 regions have seen their purchasing power erode since the late 1980s as wage growth failed to keep pace with inflation, according to a new study conducted by the University of the Philippines School of Economics (UPSE). According to UPSE, only the National Capital Region (NCR) managed to broadly preserve the real value of its minimum wage since the start of the regional wage-setting system in 1989. “Except for NCR...minimum wages across all sixteen other regions have eroded in value relative to the 1989 baseline. This erosion is visually deepest in [Bangsamoro Autonomous Region in Muslim Mindanao] and in Central Visayas,” the report noted. “This figure contradicts any assertion that regional wagesetting has historically raised the real wage floor,” it added. Across most regions, prices have risen faster than nominal minimum wages since July 1989, suggesting that regional wage boards have generally “defended” the purchasing power of the wage floor rather than improved it over time.

At the same time, the study found that the Philippine minimum wage has a relatively high “bite,” or is already close to the typical wage earned by workers. The study’s Kaitz index, which measures the minimum wage against the median wage, ranged from 0.88 to 1.20 across regions. In 10 of the 17 regions, the real minimum wage was at or above the median wage of workers covered by the study. However, the researchers said this does not necessarily mean the minimum wage is set too high. The high ratio also reflects legal exemptions for some businesses, noncompliance with minimum-wage rules, and the relatively compressed distribution of wages in the formal sector. On concerns that wage hikes could lead to job losses, the researchers found that historical increases were associated with a reallocation of workers around the new wage floor rather than evidence of large-scale immediate displacement. UPSE noted that employment in wage bands below the new minimum declined by 0.28 percentage point of the working-age population while employment within P100 above the new floor increased by 0.43 percentage point. See “Wage earner,” A2

Thursday, August 27, 2026 A13

BIR rolls out consolidated audit program, vows reform

By Reine Juvierre S. Alberto

HE Bureau of Internal Revenue (BIR) has established the BIR Audit Program to consolidate various audit programs into a single, uniform framework to standardize tax investigations across all its offices. Internal Revenue Commissioner Charlito Martin R. Mendoza issued Revenue Memorandum Order No. 22-2026 to prescribe the BIR Audit Program and institutionalize and integrate existing and updated audit policies and procedures into one coherent framework. “These enhanced guidelines institutionalize the BIR’s modernization initiatives and strengthen its risk-based audit and governance framework, while ensuring a fair, efficient, and transparent enforcement of internal revenue laws and the proper assessment and collection of taxes due to the government,” Mendoza said. The order will cover all audits conducted by Revenue District Offices,

Regional Office Audit Sections, the Large Taxpayer Service Audit Divisions, the National/Regional Investigation Divisions and specialized technical working groups. All taxpayers, including those subject to mandatory audits, selected via risk analytics, involved in One-Time Transactions, applying for tax clearances, or claiming tax credits/refunds, would be considered potential candidates for audit or verification to determine the correctness of their tax liabilities. However, the BIR said it would initiate audits only upon issuance of a valid electronic Letter of Authority (eLA), Tax Verification Notice, or Mission Order (MO). Any audit or verification undertaken without

such authority shall be deemed unauthorized, the BIR said. Audit selection is driven by a system-assisted, risk-based process using defined criteria, verifiable data and risk indicators derived from filed tax returns, third-party information and other relevant data available within BIR systems. To prevent duplication or fragmentation of audit authority, taxpayers would only be subject to one eLA per taxable year, covering all applicable internal revenue tax types. Audit cases are split into mandatory cases, which are covered by eLAs or TVNs and do not require prior approval from the commissioner, and priority cases, which are electronically selected by risk-based digital criteria and require centralized approval by the commissioner. All audit activities, findings and case developments shall be properly documented in near real-time in the prescribed BIR systems or platforms to ensure transparency, traceability and effective monitoring. The memo said all Revenue Officials/Officers shall also observe the highest standards of integrity, objectivity and professionalism, and shall be accountable for the proper, timely and accurate conduct of audit.

All audit investigation reports and assessment issuances may also be subject to a Revalida or “audit of auditors” to reinforce accountability, promote uniformity and uphold quality standards in tax examinations, the memo read. “The Revalida shall serve as a quality assurance and compliance review mechanism to ensure that audit findings are factually and legally supported, due process requirements are observed, and assessments are free from material error or procedural defect,” the order said. The BIR was previously under fire for the reported misuse of LOAs that has allegedly become a longrunning “money-making scheme.” Since then, the agency has cleaned up its office by temporarily suspending all field audits and the issuance of LOAs and MOs. The BIR said this Audit Program is to reinforce structural reforms, including the Single Instance Audit Framework, system-assisted and risk-based audit selection, anonymized assignment of cases to Group Supervisors and Revenue Officers, mandatory labeling of audit instruments, standardized documentary requirements and strengthened safeguards in the conduct of audit.

ICSC: RE delivers nearly twice FIT-ALL rate in lower costs By Lenie Lectura

GLOWING FOR GROWTH Global Dominion Financing Inc. President and CEO Samuel Cariño (center) joins VIPs and company staff during the launch of GLOW (Giving Limitless Opportunities to

Women), a financing and community program for women-led small and medium enterprises (WSMEs), on Wednesday, August 26, 2026, at Ortigas Center in Pasig City. The program seeks to address a persistent financing gap faced by women entrepreneurs. Women-led businesses account for an estimated 66 percent of the country’s MSMEs, yet only about 4 percent have formal access to financing, amid challenges including stringent lending requirements, rigid financial structures, gender bias and limited access to collateral. NONOY LACZA

‘Spending outpaced family incomes’ By Justine Xyrah Garcia

HE income of Filipino families increased over the last two years, but an economist noted that household spending grew at a much faster pace—potentially leaving families with less room to save. On Wednesday, the Philippine Statistics Authority (PSA) reported that average family annual income grew by 16.5 percent to P411,350 in 2025 from P353,230 in 2023. The PSA said family income increased across all income deciles. Higher-income households, particularly those in the seventh to 10th deciles, recorded faster income growth in 2023 to 2025 than in the previous two-year period. Wages and salaries remained the primary source of family income, accounting for 54.6 percent of the total. This was followed by entrepreneurial activities at 15.5 percent, imputed rent at 8.7 percent, cash receipts from abroad at 8.5 percent, and cash receipts from domestic sources at 5.3 percent. Other sources, including pensions, gifts,

net receipts, dividends and shared income, accounted for the remaining 7.4 percent. The increase in family income, however, came alongside a faster rise in household expenditure. De La Salle University economist Ma. Ella C. Oplas said this could leave families with less capacity to save. “Spending is growing more than income. Worse is that given the need to spend, there is lesser capacity to save,” Oplas told the BusinessMirror. PSA data showed that average annual family expenditure rose by 24.7 percent to P321,850 in 2025 from P258,050 in 2023, faster than the 12.8-percent growth recorded between 2021 and 2023. The increase in spending was recorded across all income deciles. In 2025, average annual expenditure ranged from P155,600 among families in the first decile to P693,810 among those in the 10th decile. This is also reflected in household saving sentiment tracked by the Bangko Sentral ng Pilipinas (BSP). The share of households who said they would set aside savings remained

below 35 percent throughout 2023 and 2024, before improving to 40.7 percent in the first quarter of 2025 and reaching 52.3 percent by the fourth quarter. In 2023, the share ranged from 28.6 percent to 33.9 percent, while it was between 28.7 percent and 31.8 percent in 2024. Oplas said the faster growth in spending relative to income pointed to pressure on household budgets, while inflation also affected purchasing power. “The gap suggests pressure on household budgets and may indicate that families are experiencing a squeeze in their purchasing power, which is the effect of inflation,” she added. According to the PSA, food and non-alcoholic beverages accounted for the largest share of household expenditure in 2025 at 33.3 percent. This was followed by housing, water, electricity, gas and other fuels at 21.6 percent; restaurants and accommodation services at 7.0 percent; transport at 6.9 percent; personal care, miscellaneous goods and services at 4.2 percent; and health at 3.5 percent.

The spending figures came amid a period of easing inflation, with annual average inflation slowing to 3.2 percent in 2024 and further to 1.7 percent in 2025, from 6 percent in 2023.

Nominal vs. real

OPLAS also pointed out that the Family Income and Expenditures Survey (FIES) figures are nominal, meaning they reflect the peso value of household income and expenditure without adjusting for changes in prices. Looking at the figures in real terms, or after accounting for inflation, she said real family income growth may be only around 5 percent, while real expenditure grew by 12.2 percent. While the gap between real income and expenditure growth remains substantial, Oplas said the growth rates themselves were relatively modest. Oplas added that the weak growth in purchasing power could leave households with little income left after paying for basic needs. “So income is not enough to save, that’s why a lot of households are living from paycheck to paycheck,” she added, partly in Filipino.

@llectura

ENEWABLE energy (RE) projects under the Feedin-Tariff (FIT) program reduced electricity bills by P0.3916 per kilowatt hour (kWh) from 2024 to 2025, nearly doubling the current FIT - Allowance (FITALL) rate of P0.2073 per kWh. The Institute for Climate and Sustainable Cities (ICSC) said on Wednesday that FIT-supported RE projects generated P99.2 billion in wholesale electricity market savings over the 2024-2025 period. This two-year savings total equals nearly half of the P220.5 billion cumulative FITAll fees paid by consumers since 2015. “The sharp decline in renewable energy costs over the past decade shows that sustained policy support, when paired with competition, can turn emerging technologies into affordable and competitive sources of electricity,” said Atty. Pedro Maniego, ICSC’s Senior Policy Advisor. “The priority now is to build on these gains by expanding renewable energy, so more consumers can benefit from lower-cost electricity and reduced exposure to fuel-price volatility,” he added. The growing competitiveness of RE has helped drive these savings. Solar projects supported under the FIT program were priced at around P9.68 per kWh in 2014. Today, new solar projects are being contracted at roughly P3 to P4 per kWh. Solar energy costs under the FIT program dropped from P9.68 per kWh in 2014 to between P3 and P4 per kWh today. Moreover, the Green Energy Auction—Allowance (GEAALL) has reinforced this trend through competitive renewable energy auctions, helping keep solar prices within the P3.68 to P4.48 per kWh range. The ICSC also said that RE can reduce electricity prices beyond

the projects directly supported by FIT-ALL and GEA-ALL. Because solar and wind are often generated during periods of high electricity demand, they can displace more expensive power plants and lower prices in the Wholesale Electricity Spot Market (WESM). Newer technologies could follow a similar path. Offshore wind has an auction ceiling of around P11 per kwh as the country begins developing the sector. Greater competition, technological improvements, and economies of scale could help bring down costs as the market matures as we’ve seen in solar technology. “As RE becomes more competitive, the focus should be on how these investments can reduce costs and risks across the power system. Consumers and policymakers need a fuller assessment of FIT-ALL and GEA-ALL—one that looks beyond their direct costs to the savings renewable energy can generate and the risks it can help reduce, including exposure to imported fuel prices and higher wholesale electricity prices during periods of tight supply,” the group said. Moreover, the ICSC pointed out that sustaining competition in RE procurement and keeping grid development aligned with new capacity will be critical to capturing these benefits as the market matures. “Ultimately, FIT-All and GEA-All should be assessed based on their net value to consumers: whether they contribute to a more affordable and reliable electricity system over time,” it said. FIT-ALL and GEA-ALL are uniform charges billed to all on-grid electricity consumers. This ensures timely payments to qualified RE developers who are assured of a fixed rate for electricity generated by their projects over 20 years. Both are reflected as a separate component in monthly electricity bills.

A14 Thursday, August 27, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

www.businessmirror.com.ph

editorial

The ‘historic low’: Why a single-digit victory rings hollow

HE Philippine Statistics Authority announced last week that poverty incidence has plummeted to a “historic low” of 9.7 percent—crashing through the single-digit barrier three years ahead of the 2028 target. Socioeconomic Planning Secretary Arsenio Balisacan calls it proof that “expanding economic opportunities” are making “meaningful differences in people’s lives.” (Read the BusinessMirror story: “Single-digit poverty rate masking gaps,” August 22, 2026).

But beneath this statistical triumph lies a troubling truth: the administration is celebrating a victory measured with a broken ruler. The poverty threshold—P2,927 monthly per person, or roughly P21 per meal—is outdated. While the PSA has acknowledged its methodology needs revision, Ateneo de Manila University economist Leonardo Lanzona Jr. warns that updated measurements could make poverty look meaningfully worse overnight—not because people got poorer, but because we started measuring more honestly. This is the fundamental problem with last week’s PSA announcement. The 5.5 percent increase in the poverty threshold follows the old methodology— the same one that deemed P21 sufficient to meet basic nutritional needs. In an era of elevated inflation and rising food costs, this threshold has become a mathematical fiction that flatters policymakers while failing the poor. The measurement problem runs deeper than outdated methods. As former NEDA chief Dante Canlas notes, reducing poverty to a simple income calculation strips away its multidimensional nature—whether children suffer chronic malnutrition, families can access healthcare, or workers remain trapped in dead-end jobs. Poverty is not merely the absence of income, but the absence of dignity, security, and opportunity. By this broader measure, the picture looks far less rosy. Moreover, the data reflects conditions from 2025—a different economic universe from today’s reality. While officials celebrate last year’s statistics, the economy has slowed to 2.6 percent growth in the first half of 2026, inflation surged to 5 percent, and recent typhoons have devastated agricultural communities. The “current economic squeeze,” as Lanzona describes it, has yet to register in official poverty data. Secretary Balisacan said that poverty gains are “unlikely to reverse” despite these headwinds. This certitude seems erroneous. As growth slows and prices spike, the poor do not just face hardship—they face devastation. Canlas correctly warns that income inequality means the poor experience “sharper income declines” during economic contractions, slipping further into destitution while the wealthy weather the storm. While preventing backsliding into poverty is laudable, the administration misses the larger point: sustaining gains requires genuine economic recovery and living wages, not keeping Filipinos hovering above an artificially low poverty line. Delayed minimum wage hikes in the National Capital Region reveal priorities that clash with the government’s triumphant rhetoric. There is a dangerous temptation in governance to confuse statistical improvement with genuine progress. When the poverty threshold is set low enough, governments can claim victory while millions continue to struggle. The Marcos administration has achieved a single-digit poverty rate, yes—but measured against a standard that the PSA itself admits is inadequate. This is not poverty reduction; it is poverty redefinition. Real progress requires honest measurement. Until the government updates its methodology to reflect actual living costs and incorporates social indicators of well-being, these numbers remain a mirage—encouraging for officials, but cold comfort to the millions of citizens still wondering how P21 per meal is supposed to feed their dreams, let alone their bodies. The single-digit milestone is not a victory. It is a warning about the poverty of our statistics, and the statistical poverty of our politics.

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The investor who left anyway John Mangun

OUTSIDE THE BOX

TRILLION-dollar artificial intelligence company, according to the Bases Conversion and Development Authority (BCDA), spent two months studying New Clark City for a data center. It chose Johor, Malaysia instead. The reason given by the BCDA was electricity. There was not enough of it, and there would not be enough of it soon enough to matter. That single rejection now explains a month of official contradiction. In July, the Department of Information and Communications Technology was telling reporters that modern data centers recycle their own water, that some desalinate and share the surplus with nearby towns, and that Secretary Henry Aguda was personally telling Amazon Web Services and Google to build in the Philippines instead of elsewhere. By August 11, BCDA President Joshua Bingcang and Board of Investment Undersecretary Ceferino Rodolfo were saying, on the record, that no AI data center will be built at New Clark City at all, that the earlier framing was “just a misconception,” and that the 1,620-hectare site is now zoned for semiconductor fabrication, microchip assembly, and the building of AI hardware components, not server farms. Bingcang

added, almost in passing, that data centers do not generate many jobs anyway, a smaller and quieter claim than the hub-wide job figures Aguda had floated in July. Manila is telling itself the same story as Aesop. The fox decided the grapes were sour only after it could not reach them. A government does not discover, unprompted, that hyperscale infrastructure was never really the plan. It discovers this after the investor it courted studies the grid for two months and leaves for a country that already has the power. The revised framing is not simply the government saving face. Pax Silica’s stated purpose now includes securing supply chains for critical minerals and computing components among partner nations, which places the Philippines inside a contest larger than any single data center. China refines most of the world’s

rare earths and critical minerals, and the countries that signed on to Pax Silica are, among other things, agreeing to build supply routes that do not run through Beijing. A manufacturing hub making chip components is a genuine seat at that table. It is a smaller seat than the one the country wanted in July. But the difference between the two is the electricity Malaysia has and the Philippines does not. The unnamed investor’s choice of country points at what Malaysia can now support. Racks Central, based in Singapore, is building Southeast Asia’s largest AI data center campus in Johor, a US$6.7 billion project needing 100 megawatts at first and 510 megawatts by 2028, drawing cooling water from a reservoir already built for the purpose and running it on solar, biomass, and hydropower already online. The capacity that made Malaysia the answer is not in question. The Philippines offered land, tax breaks, and a promise that power would arrive by 2028. Malaysia already had the power. Multinational investment bank Morgan Stanley’s own numbers explain why that gap matters more now than it would have two years ago. A hyperscale facility running at full efficiency, in the bank’s arithmetic, rents US$25 billion of computing a year to sell only US$23 billion of output, and the bank expects the selling price of that output to keep falling as China’s DeepSeek open-weight models undercut the closed American labs

Machete attacks disrupt Congo ebola response as outbreak spreads By Jason Gale

CROWD armed with machetes chased after Ebola responders who were trying to bury a victim in eastern Democratic Republic of Congo, one of the latest attacks on frontline workers struggling to contain a rapidly spreading epidemic. Just over 100 days after the outbreak was declared, more than 5,500 people have been infected and 2,642 have died, while violence, strikes and shortages are thwarting basic measures needed to break chains of transmission. “The outbreak is growing faster and wider than the Ebola response,” Julien Harneis, the United Nations’ senior Ebola coordinator, told reporters, describing conditions facing frontline workers as “brutal.” “It’s now covering an area that is bigger than France,” Harneis said. The violence has already forced some responders from the field. Red Cross organizations said 12 volunteers were injured and vehicles and other emergency equipment was damaged or destroyed in 11 violent

incidents over the past three months. Attacks have continued in recent days. Three volunteers were injured and response equipment destroyed in Beni, North Kivu, on Aug. 19, a day after two volunteers were hurt while attempting a safe burial in Haut-Uélé. On August 17, a Uganda Red Cross convoy was targeted in Aru, Ituri province, leaving one team member seriously injured and two ambulances vandalized. “Every personnel injured and every ambulance, vehicle, or piece of equipment damaged reduces the capacity to provide emergency health and humanitarian services,” the Red Cross organizations said in an emailed statement on Monday. The escalation of violence and intimidation is interfering with safe

A burial team in North Kivu was assaulted last week in a separate incident, leaving several people injured and one believed dead, while Red Cross vehicles were vandalized and an ambulance carrying a suspected patient was attacked. In Beni, responders were prevented from reaching the household of a confirmed case to inform the person’s family. burials, decontamination, ambulance transfers and case investigations across several provinces. A burial team in North Kivu was assaulted last week in a separate incident, leaving several people injured and one believed dead, while Red Cross vehicles were vandalized and an ambulance carrying a suspected patient was attacked. In Beni, responders were prevented from reaching the household of a confirmed case to inform the person’s family. Resistance to safe burials has been reported across several health

on price. An exchange that lists oil and corn futures opens trading in GPU rental contracts on October 5. When a product becomes a commodity with a public futures price, the sites that host it stop competing on hospitality and start competing on the one input that determines the cost of the commodity itself: electricity, delivered now, at scale, without qualification. A country building chip components for that commodity, rather than hosting the commodity’s production directly, is betting on a steadier and less capital-intensive corner of the same supply chain. This may be the wiser position, even if it happened by accident. Manufacturing components for critical minerals and AI hardware is a real business and a defensible one, arrived at only after the larger prize walked out the door. Nobody forced the company to leave. It did the arithmetic Malaysia’s grid could satisfy and the Philippines could not, and it left without waiting to see if Manila’s 2028 promise arrived on schedule. What the Philippines kept afterward, a manufacturing seat in someone else’s supply chain, is smaller than what it lost. It is also the only seat that was ever actually on the table. Whether the government can make even that much work is still unproven. E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

zones. In the Ituri town of Kilo alone, authorities recorded five incidents on Saturday, while elsewhere families have prevented bodies from being tested, taken corpses from treatment centers and blocked burial teams from carrying out their work. The disruptions extend beyond violence. Five screening posts in Haut-Uélé remained on strike over unpaid wages over the weekend, while community-engagement workers in North Kivu and Tshopo have gone months without pay. The region’s barely functioning banking system has made it difficult to get enough money into affected areas to pay frontline workers, Harneis said. Keeping infected people isolated is also proving difficult. Fourteen patients escaped treatment centers in Ituri last week, and authorities separately recorded 14 refusals of isolation in multiple health zones. The breakdowns are compounding the challenge of fighting Ebola in a region already beset by armed conflict, mass displacement, See “Machete,” A15

Opinion BusinessMirror

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Thursday, August 27, 2026 A15

Iran’s ex-spymaster For whom the bill tolls: Sir, I didn’t order the steak returns to build a bottom-up security state By Atty. Laurence R. Rogero

Sixth of eight parts

OSSEIN TAEB built a reputation for ruthlessness over a fourdecade career in Iran’s post-revolution security apparatus. After a break from the public eye, he’s back, reprising his former job as head of the country’s powerful volunteer militia, the Basij. The appointment of the 63-yearold earlier this month confirms his place among a tiny circle of trusted confidants to the new Supreme Leader, Mojtaba Khamenei, and as one of the key decision-makers reshaping a country shaken by unprecedented protests and war. “Taeb is now sitting at the top of the system that he was central to creating,” said Mohammad Hossein Torkaman, a former Islamic Revolutionary Guard Corps member, who left Iran in 2010 and now lives in exile in Europe. “The most important job he has is to prevent and stop internal dissent and to suppress it when it does happen,” added Torkaman. That task is particularly critical to the regime as the US pivots from military threats to economic pressure as a way to try to end the near six-month war. The tougher sanctions come as Iran’s currency is flailing and its access to fuel shrinking—both pressure points that have previously triggered domestic protests. Taeb’s selection also indicates an expanded role for the Basij—a vast network of paramilitaries and other loyalists that enjoys sprawling economic interests from banking to steel, and which Iran claims can mobilize 20 million people, equivalent to a fifth of the population. Its members, zealous young men and women, operate in mosques, workplaces and universities across the country. They have been deployed to disrupt public gatherings and violently put down demonstrations. Most recently, security forces including the Basij killed thousands in January in the biggest and bloodiest unrest in the Islamic Republic’s history. At the peak of the unrest in Isfahan province, 19 Basij members died, higher than the number of police and IRGC casualties combined. Khamenei’s decree appointing Taeb tasked him with “strengthening the people’s information network” and “utilizing new technologies for grassroots resistance” to make “Every Iranian a Basiji.” Diplomats and analysts see that as a mandate to turn the organization into Khamenei’s eyes and ears on the street. In return for their loyalty, members get economic perks like preferential access to housing and publicsector jobs. The Basij gives the fledgling supreme leader—who’s yet to appear in public since he succeeded his father—a loyal constituency that he can use to consolidate power, according to Saeid Golkar, an associate professor of political science in the University of Tennessee at Chattanooga who’s written a book on the militia. “This new Basij under Taeb will work as a social base under Mojtaba, not only to control society but also control the political elite,” he said by phone. “They’re much more zealous than other security institutions, and

Machete. . .

continued from A14

hunger, poverty and outbreaks of other diseases. Fourteen weeks after the epidemic was declared, Congo had reported 5,375 confirmed cases; the 2013-2016 West African Ebola crisis took more than 30 weeks to reach a comparable number. Médecins Sans Frontières last week warned that responders need to expand detection and infectioncontrol work within communities rather than concentrate resources solely on treatment centers. More than 60% of Ebola deaths since the outbreak began have occurred in communities, often far from treatment facilities, the group said. Congo is preparing to expand

Khamenei’s decree appointing Taeb tasked him with “strengthening the people’s information network” and “utilizing new technologies for grassroots resistance” to make “Every Iranian a Basiji.” Diplomats and analysts see that as a mandate to turn the organization into Khamenei’s eyes and ears on the street. they’re everywhere.”

Paranoia and protest

BORN in Tehran in 1963, Taeb trained as a cleric and joined the IRGC in the early 1980s during the grueling eight-year war with Iraq, in which he fought alongside the younger Khamenei. After the war he worked on counter-espionage for the Ministry of Intelligence and by the late 1990s was coordinating directly with Mojtaba Khamenei on domestic security issues, according to comments by the former head of state media Mohammad Sarafraz in 2021. That prepared him to lead the Basij in 2009, when the militia suppressed the Green Movement protests sparked by a disputed election. The crackdown left dozens dead and led to the US sanctioning Taeb for human rights abuses. His methods were a shock even to insiders. He was known for ruthlessness and paranoia, surveilling his own staff and having them tortured if he suspected them of treachery, said Torkaman, the former IRGC member. “When we hand the management of the recent crisis to people like Taeb, who are more familiar with batons than with thought, reason and prudence, this is the result,” longtime member of parliament Ali Motahari wrote in 2009, amid the Green Movement protests. In the wake of that movement, the elder Khamenei set up the IRGC Intelligence Organization, a parallel spy service that reports to the supreme leader rather than the government, and picked Taeb to lead it. According to state TV, highlights of his 13-year tenure include the arrest of dual nationals, fighting corruption and tracking down dissidents abroad. A string of security breaches blamed on Israel led to Taeb’s dismissal in 2022. In public he took on a symbolic role as adviser to the commander of the IRGC, but in practice he was coordinating with Mojtaba on security within his father’s office, according to diplomats. Bringing Taeb back despite his dismissal “is a clear indication of the closeness of Taeb and Mojtaba,” said Golkar, the academic. “When you are repressing people, when you are killing people, you need this loyalty, and I think no other organization in Iran can bring that.” Bloomberg

use of an existing Ebola vaccine as authorities search for additional ways to slow transmission. The first 16,520 doses of Merck & Co.’s Ervebo vaccine arrived in Kinshasa on Friday, part of a shipment of more than 50,000 expected by Monday, according to the Health Ministry. Ervebo isn’t approved against the Bundibugyo strain driving the outbreak, but emerging evidence that it generates immune responses that recognize the virus has prompted plans to evaluate whether it can provide protection. Still, vaccines and additional treatment capacity won’t eliminate the need to detect cases earlier, safely isolate infected people and strengthen infection control within communities, MSF said. With assistance from Janice Kew /Bloomberg

MAGINE you are at a restaurant. Dinner is over and the waiter brings your bill. Your meal is there. Underneath it: a steak from another table, partly charged to you; a charge from a branch across town you’ve never visited; a debt you know nothing about; and other things you never ordered. Then there are the taxes. Some of those charges may be justified. A community sometimes decides that one diner should help another. But you would still ask: What am I paying for? Who benefits? Who pays? When does it end? That is one way to read a Philippine electricity bill: not only as the price of power used, but as a financing instrument for old debts, social subsidies and public policy. We have already met one: system loss. Some electricity is lost through wires and transformers as a matter of physics, but physics sets a floor, not a standard. Overloaded equipment, poor network design and deferred maintenance raise the loss. The benchmark is efficient loss, not zero loss. Non-technical loss—theft, metering error and unbilled accounts—is different. Yet allowable loss is recovered from paying consumers because regulation decides who bears it. When the Electric Power Industry Reform Act of 2001 (EPIRA), Republic Act 9136, restructured the industry, the National Power Corporation (NPC) carried enormous obligations and long-term power-purchase contracts. EPIRA created the Power Sector Assets and Liabilities Management Corporation (PSALM) to take over NPC’s assets, liabilities and independent power producer contracts, privatize the assets, and apply the proceeds against those obligations. The Universal Charge was created, among other things, to pay NPC’s stranded contract costs and debts. The wind-down has progressed slowly. PSALM records show inherited obligations of P1.241 trillion in 2003 down to P260.6 billion at end-2025. Yet last year Congress enacted Republic Act 12179, extending PSALM’s corporate life 10 years to June 2036—a decade past the sunset EPIRA wrote for it. Even Malampaya was enlisted. The Murang Kuryente Act, Republic Act 11371, earmarked P208 billion of the net government Malampaya share for those stranded costs and closed the Universal Charge to new stranded-cost recovery; in 2021 the Energy Regulatory Commission

(ERC) denied PSALM’s P10.8-billion application on that ground. The cost moved to the country’s gas revenue. Not every old obligation was a mistake. Some bought needed infrastructure or answered an earlier crisis; others were simply costly, or misallocated risk. The Bataan Nuclear Power Plant is the extreme case. It never entered commercial operation, yet its debt was serviced until April 2007; one historical accounting puts principal and interest at P65 billion. The line on today’s bill doesn’t say so, but a poor or corrupt energy decision can outlive the politicians and policymakers who made it. The Philippines is not alone in using the electricity bill to finance policy. Germany funded its renewables build-out through a surcharge on power bills for two decades; Britain still does. In 2022 Germany moved the surcharge to the budget, where progressive taxation makes higher earners shoulder more. Your electric bill is blind. It cannot tell how rich you are. Put the cost in the budget and taxpayers pay. Put it on the electricity bill and ratepayers pay. Borrow, and future taxpayers pay. Or make one class of electricity customers subsidize another. An electricity charge does not ask what the payer can afford. It distinguishes only between those who benefit and those asked to finance it—and either may be a poor household, a middle-income family or a small business. Three social subsidies show why that matters. Missionary electrification supports areas off the main grid, where small systems, thin demand and diesel make electricity expensive. An archipelago cannot promise electricity only where a commercial spreadsheet turns green. The subsidy is large and growing. For 2026 NPC asked P34.8 billion and was allowed P30.8 billion. In March it asked P44.2 billion for 2027, raising the basic rate by two-thirds to P0.4405 per kilowatt-hour. On-grid consumers pay it. Every subsidy owes one answer: bridge toward viability,

or permanent address? The lifeline rate presents a different difficulty: identifying poverty. Consumption proved an imperfect proxy. A 2024 study by Kris Francisco for the Philippine Institute for Development Studies found that 44 percent of households below the 100-kilowatt-hour threshold were neither poor nor 4Ps recipients and had no senior citizen member. That group had the highest per capita income of the four. Republic Act 11552 tightened eligibility to 4Ps beneficiaries and other marginalized households meeting prescribed criteria. In January 2026, by Resolution No. 02, the ERC set a uniform national subsidy of one centavo per kilowatt-hour, pooled in a PSALM-administered fund, with a full discount up to 50 kilowatt-hours. It does not make the subsidy free; it makes the payer national. The senior citizen discount is smaller: five percent under Republic Act 9994, on up to 100 kilowatthours, on a meter in the senior’s own name, financed by other consumers. The point is not that seniors need no help. It is that age is not income: households with a senior member had the second-highest per capita income in the same study. Other charges finance energy policy rather than social policy. The Feed-in Tariff Allowance (FIT-All) supports renewable generators under the feed-in tariff program created by Republic Act 9513. By September 2025, the National Transmission Corp. (TransCo) reported P215.27 billion, or 97.6 percent, of FIT obligations paid. In August it asked for a 2027 rate of P0.2154 per kilowatt-hour, requiring P25.1 billion. The Green Energy Auction Allowance (GEA-All) supports renewable developers awarded capacity through the Green Energy Auction Program. Its approved P0.0371per-kilowatt-hour rate is suspended through December 2026. Neither FIT-All nor GEA-All redistributes income; both buy a different future generation mix. Renewable energy may reduce imported-fuel exposure and yield environmental benefits, but benefits still need financing. Government makes the policy; consumers finance it. How much is being asked for? Add the 2027 numbers: P0.4405 for missionary electrification, P0.2154 for FIT-All, P0.0371 for GEA-All, one centavo for the lifeline fund, and a quarter-centavo for the environmental charge. The first two are petitions; GEA-All is approved but suspended

through December 2026. If all five apply in 2027, they total about 70 centavos per kilowatt-hour, before generation, transmission, distribution or tax. At the ERC’s 2026 sales forecast of 111,366 gigawatt-hours, that is roughly P80 billion in one year. If rates and sales remain near those levels, the cumulative amount would exceed P400 billion through 2031. Then there are taxes. Here the arithmetic is cleaner. Remove value-added tax (VAT) and government collects less tax. Remove a system-loss charge and the lost electricity does not disappear. The first changes tax incidence; the second reallocates risk. Several bills before Congress would exempt system loss from VAT; others would abolish or restrict recovery of the loss itself. Deleting a cost and reallocating one are different operations. If Congress does the second without deciding where the cost lands, the Ice Seller returns: the line disappears, the missing ice remains, and somebody receives the bill. The Universal Charge shows how several policies come to share one mechanism: missionary electrification, stranded contract costs, stranded debts, an environmental charge. Two of the four are now closed to new recovery. The mechanism remains. A charge is not illegitimate merely because the customer did not choose it. But compulsion raises the standard of justification. Put the diner’s four questions to every item on the bill. What are we paying for? Who benefits? Who pays? When does it end? Subsidize openly and target carefully. Recover efficient costs, not avoidable failures. Measure results. Always name the payer. Nearly every charge here rests on a statute, a regulation or a government decision. The monthly bill is, in part, a statute book printed in pesos. The next installment opens that statute book while Congress is still writing it.

Atty. Laurence R. Rogero is an infrastructure lawyer with three decades of experience in the Philippine and international power and water sectors. He is Lead Independent Director of an infrastructure holding company with interests in energy and water. He lectures at the Ateneo de Manila University, and is pursuing postgraduate studies in economics. He graduated magna cum laude from the UP School of Economics, earned his law degree from UP, and obtained an LL.M. with Distinction from Georgetown University as a Fulbright Fellow. The views expressed are the author’s own and should not be attributed to any institution with which he is affiliated.

Xi signals defiance as US threatens sanctions for Iran support

I JINPING’S government is sending a message of defiance to Donald Trump over China’s economic ties with Iran. Hours after the US sanctioned dozens of Chinese entities and threatened to target an unspecified “major financial institution” for its dealings with Tehran, Beijing responded by saying its relationship with Iran “should not be disrupted or undermined.” China will take “all necessary measures” to safeguard its interests, Foreign Ministry spokesperson Lin Jian warned.

The response underscores the risk of another clash between the superpowers as Trump promotes an economic onslaught against Iran in a bid to pressure the Islamic Republic into a deal. China has thrown Tehran an economic lifeline as its biggest buyer of oil, and Xi appears in no rush to help Trump end a conflict that’s pulling US resources from Asia while giving him more bargaining power before a leaders’ summit next month. For the US, taking action against any major Chinese bank supporting Iran’s wartime economy would invite bigger blowback from its Asian rival. “China wants the conflict contained, but it has little reason to help Trump end it without receiving something in return,” said Jesse Marks, founder of Rihla Research & Advisory and a former Middle East policy adviser in the US government. For Xi, there are benefits to Trump being focused on Iran. The US this month redeployed its lone Asiabased aircraft carrier to the Middle East, while American forces later an-

nounced they were scrapping an exercise with South Korea over shortages related to deployments to the region around Iran. That could give China a freer hand as it continues to assert its territorial claims in the South China Sea and around self-ruled Taiwan. While Xi won’t cut ties with Tehran, Beijing could decide to further reduce purchases of Iranian oil or keep income from such transactions locked in Chinese banks, Marks said. Pledging tighter controls on Chinese-made dual-use components that could reach Iranian weapons programs is another option ahead of the summit. Ignoring Washington completely could antagonize the US leader weeks before the September 24 meeting in Washington designed to preserve a trade truce between the world’s biggest economies. Ahead of that sitdown, China is already buying less discounted Iranian crude, as the US naval blockade squeezes supply. China retains economic leverage over the US, constraining Trump from following through on more meaning-

ful sanctions. Beijing dominates the global rare earths supply chain critical to producing everything from mobile phones to missiles. Xi used that tool last year to stop the Republican leader’s sweeping tariff war, and it’s since been effective in keeping guardrails on the relationship. Underscoring that mutual desire to prevent ties from spiraling, the US is planning to limit pending overcapacity tariffs on China at a level Beijing previously approved, according to people familiar with the matter. Bessent himself hinted at the US desire to avoid more economic upheaval, telling reporters on Monday that he didn’t “want to blow up the global financial system,” comments that come as US long-term borrowing costs soar to decade highs. Washington likely knows China won’t comply with America’s requests on Iran, but is hoping it can push Beijing into making some smaller concessions, said John Gong, a professor at the University of International Business and Economics in Beijing. “Iran has been subject to sanctions for so long and the country never buckled. Why would it be different this time?” added Gong, who has worked as a consultant for China’s Commerce Ministry. Chinese policymakers also have reasons to want global stability, as elevated prices threaten to damage demand for exports critical to growth.

Any major concession on Iran would likely require a US offer of equal magnitude. Taiwan remains China’s brightest red line in bilateral ties, with Beijing repeatedly demanding Washington stop selling the chip hub weapons. A $14 billion US arms package is still pending to Taiwan— the self-governed island the Communist Party considers its territory despite never having ruled it. Diplomacy offers Xi another way to be seen as contributing to finding a solution to the war. Chinese officials, including Xi, have recently held discussions with leaders from Jordan, Kuwait and other Arab states. China is also due to host a summit with Arab nations this year, while regional meetings such as a Shanghai Cooperation Organization huddle in Kyrgyzstan next week could give Xi a fresh opportunity to engage Iranian representatives. Ultimately, Bessent’s failure to take stronger action encourages China to see the US as overstretched by bond market turbulence, domestic political concerns over affordability and a new trade dispute with Canada, said Derek Scissors of the American Enterprise Institute. “Beijing certainly won’t move early,” he added. “The US will have to show commitment to the new policy, which it hasn’t yet—and is something Trump rarely does.” With assistance from Jing Li and Linda Lew /Bloomberg

Sports BusinessMirror

A16 Thursday, August 27, 2026

mirror_sports@yahoo.com.ph | Editor: Jun Lomibao

IT ALL COMES DOWN TO RF

EW YORK—Five-time US Open champion Roger Federer returned to Arthur Ashe Stadium on Tuesday night to play one last match for fun against longtime rival and friend Andy Roddick. The event billed as “An Icon Returns to New York” packed the stands full of fans there to watch the 45-year-old from Switzerland face Roddick—soon to be 44—in a prime time exhibition. Many wore hats with the distinctive “RF” logo that became commonplace in the sport during Federer’s decade and a half of dominance featuring 20 Grand Slam titles. “It’s great to be back in New York,” Federer said. “I have incredible

Marcial gets major boost in 8th pro fight

UMIR FELIX MARCIAL has gotten extra motivated in going 8-0 won-lost as a pro when he faces American Omar Ulises Huerta on September 19—their fight will be shown live on US television. “This is going to be the most important fight in his eighth professional career bouts as he was never seen in USA television before,” MP Promotions head Sean Gibbons told the BusinessMirror on Wednesday. “Everybody will be watching him closely so he must look absolutely good.” “It’s going to be a big moment, it’s an opportunity he will not waste for sure,” Gibbons stressed adding DAZN Worldwide and TNT will air his wards fight for the first time in the US. Marcial has declared himself that he’ll be stronger, quicker and smarter against Huerta. “I’m going for 8-0 on September 19 and I will make everyone knows who exactly I am,” he said. “I will not waste this one.” They’ll be squaring off in a middleweight 10-rounder in the undercard that pits World Boxing Council (WBC) super lightweight interim champion Isaac “Pitbull” Cruz against Nestor Bravo at the Pechanga Arena in San Diego, California. Gibbons said that the WBC middleweight international belt and another vacant regional title—most likely the World Boxing Organization international crown— are at stake in the Marcial-Huerta fight. DAZN Worldwide and TNT will air for the first time Marcial ’s eighth bout in the United States followed by main event between Cruz and Bravo fight for the WBC super lightweight championship that makes the cards promoted by Premier Boxing Champions (PBC) exciting. Josef Ramos

memories, obviously, of this court, of the fans here, of the city.” Federer reminisced about visiting for the first time to play juniors in 1998 and reaching the final. Three years later, his debut on center court was a straight-sets loss to Andre Agassi. “He smashed me 6-1, 6-2, 6-4,” Federer said. “I had no shot. And I was like, ‘OK, not so easy, not fast, Roger.’ But, still, I’ll remember this center court forever.” In 2005, Federer defeated Agassi to win the US Open for the second of five in a row through ’08. “The one against Andre, I think, was extremely special: playing a legend that was coming towards the end of his career—that we had a chance to play against each other,” Federer said. “And every player I was able to play against in the finals here also was a US Open champion. It’s been an incredible run. I loved it.” Roddick, who won the tournament in ‘03, credited the fans and Federer for his return. “It comes down to Roger,” Roddick said. “Obviously we played a bunch and he beat me a bunch, but we were always able to navigate a friendship through the middle of our careers that’s lasted till now and will hopefully last forever. It’s just about showing up when Roger asks you to.” Federer, who last competed at the US Open in 2019 and retired in 2022,

then teamed up with John McEnroe and faced Roddick and Agassi in a doubles exhibition.

Alex, Felix shown door in US Open mixed doubles

ALEX EALA and Canadian partner Felix Auger-Aliassime yielded to married couple Monfils and Svitolina in a match that lasted only 39 minutes, 4-1, 4-1 win, in the US Open mixed doubles competition Tuesday at the Louis Armstrong Stadium in New York. Eala and Auger-Aliassime were forced to commit eight errors while their married opponents had only one—they won 23 points while their foes won 34. Eala, meanwhile, enters the main draw ranked No. 18 in the world, thus becoming the highest-ranked Southeast Asian woman in history. The draw is set on Thursday.Top of FormBottom of Form The first three rounds of the mixed doubles at the US Open use shorter sets of four games before reverting to the usual six games in the final. The tournament was overhauled last year in an effort to get more top singles players to compete. It was moved to a two-day event well before the singles main draw begins, with a scoring format that guarantees quick matches that shouldn’t tax the players too much. AP

THE event billed as “An Icon Returns to New York” packs the stands full of fans there to watch the 45-year-old Roger Federer in a prime time exhibition. AP

Coach Tim confident even without Brownlee By Josef Ramos

ALEX EALA and Felix Auger-Aliassime of Canada enter the court for their mixed doubles match against married couple Elina Svitolina and Gael Monfils. AP

EAD coach Tim Cone trusts his team that well that he’s confidence level remains high with an all-Filipino lineup with naturalized player Justin Brownlee recovering from injuries. “It’s going to give more opportunity for guys like Kevin Quiambao and Carl Tamayo to step up and get major minutes,” said Cone two days before Gilas Pilipinas plays with a home court advantage against Jordan on Friday at 7:30pm at the SM Mall of Asia Arena in the fourth window of the FIBA 2027

Officials extinguish fire to a humanoid robot after hitting the barrier at the end of a 100-meter race during the World Humanoid Robot Games in Beijing on Tuesday. One of the robots set a new 100-meter sprint record of 8.86 seconds—the fastest recorded human time. The previous robot record of 9.39 seconds had been set just three days earlier Saturday. For comparison, the men’s 100-meter world record is 9.58 seconds, set by Jamaican sprinter Usain Bolt in 2009. AP

Qualifiers matches with a 13.5-point average highlighted by his 18 points in a 102-106 double overtime loss to New Zealand last July 3 in Auckland. Quiambao is averaging 9.2 per contest in World Cup qualifiers and delivered a valuable 23 points also against New Zealand, while Tamayo posted 17 points against New Zealand although he averages 5.2 points per game. Also in Cone’s 14-player pool are Juan Gomez de Liaño, Chris Newsome, Scottie Thompson and RJ Abarrientos. The Philippines is 2-4 win-loss in Group E of the qualifiers behind undefeated Australia (6-0), Iran (51), Jordan (5-1), New Zealand (4-2) and Syria (2-4).

Sports put Philippines on global map—PSC chairman Gregorio

HE Philippine Football Federation (PFF) emerged as the biggest winner at the Seventh Philippine Sports Tourism Awards after clinching two major honors—National Sports Association (NSA) of the Year and International Event of the Year—for its successful hosting of the FIFA Futsal Women’s World Cup at the PhilSports Arena. Under the leadership of its president John Gutierrez, the twin victories underscored how the PFF’s trailblazing event served as a

powerful showcase of sports tourism that elevated destinations, inspired communities and placed the country firmly on the global sporting map. PSC Chairman Patrick Gregorio, guest of honor at the awards night, praised the federation’s achievement. “The FIFA Futsal Women’s World Cup was a celebration of how sports can bring nations together and put the Philippines on the global map,’’ said Gregorio, noting that the event exemplified the synergy between tourism and athletic development. The awards were organized by the

Sports Tourismo Alliance Committee and presented by the Philippine Sports Commission. World Archery Philippines was named Emerging NSA of the Year, while the Tour of Luzon earned Domestic Event of the Year. The City of Puerto Princesa and Sunrise Events were honored as Event Organizers of the Year, with Puerto Princesa also recognized as Emerging Destination of the Year and the City of Lapu-Lapu cited for Destination Marketing Event of the Year. As the Chairperson of the

89 + 102: Bring out those drums!

Chinese robot under fire

World Cup Asia Qualifiers. “And for Dwight Ramos to be more of a go-to-guy,” added Cone whose wards face Iran next on Sunday in the same venue. “So, you lose someone, but that means other people get opportunities and we are going to try to take advantage of those opportunities,” he said. “We believe that we have the right people capable of filling the slot.” Besides Quiambao, Tamayo, Ramos and CJ Perez, 7-foot-3 Kai Sotto is back to man the paint with 6-foot-11 AJ Edu, June Mar Fajardo, Troy Rosario, Justine Baltazar and Justin Arana. Ramos was the second leading scorer in the last six World Cup

CONE

AT this time next month, the collegiate basketball season shall have already begun. The University Athletic Association of the Philippines (UAAP) opens September 12 while the National Collegiate Athletic Association of the Philippines (NCAA) follows suit on September 13 both at the SM Mall of Asia Arena. Finals predictions for the two leagues have been running wild for over a month now, taking note of how the different teams performed in the pre-season, here or in other parts of the globe. The NCAA buzz has been strongest for the Jose Rizal Heavy Bombers who showed their explosive might during the Filoil EcoOil Preseason Cup. They did not just win the championship, they swept and overpowered the San Beda Red Lions, flexing a retooled roster with a one-two punch in dynamic scorer Lawrence Mangubat and versatile forward Chris Hubilla. In Season 102, JRU boasts a more experienced sophomore core in Sean Salvador, Allan Laurenaria and Ivan Panapanaan, trusty role players in Jahmir Eligado and Stephen Garupil. And hey, they got even more steady with the addition of championship-steeped EJ Gollena and Rhyle Melencio who both transferred from La Salle. Underneath all that, the mentorship of former

JRU MVP Nani Epondulan has brought a whole new culture and fighting style for the Heavy Bombers. Nobody but nobody can sleep on Jose Rizal U this season. Ibang JRU talaga ito. Of course, the mighty Lions will still be the team to beat. And the charging Saint Benilde Blazers with veterans Allen Liwag and Justine Sanchez will definitely be in the mix. Colegio San Juan de Letran, the University of Perpetual Help System DALTA and Arellano University know their way around the challenges, so expect them to be jockeying for spots come the final countdown. It’s going to be an interesting Season 102. As for the UAAP, many still expect a University of the Philippines Fighting Maroons-De La Salle Green Archers “quadrilogy” for Season 89. But the road to this

National Sports Tourism InterAgency Committee (NST-IAC), Gregorio commended the honorees for their excellence and persistence in advancing athletic excellence while also highlighting the country’s top destinations on the global stage. “We all believe that the biggest tourism events in the world are sports events. We’re very lucky because of President [Ferdinand Jr.] Marcos really believes that sports tourism is a strategy not only to promote tourism but to develop grassroots sports,” Gregorio said.

final match-up is not as smooth and clear as before. Changes in the line-ups of both squads have made them almost unrecognizable from seasons past. According to talk on Reddit, UP still holds most of the marbles. They have “size, depth and a guard-driven system built on size.” The frontcourt is really deep: Gani Stevens, Sean Alter, Migs Palanca, Francis Nnoruka, 7-footer Dieonte Miles plus Veejay Pre are all big and ready to be rotated. UP’s wings—Jacob Bayla, Miguel Yñiguez, James Payosing—are strong and long and can rotate as well. The guards, led by Noy Remogat and Arvie Poyos, run the offense and drop stealthy points in the paint. But how will this post-Maroon 5 UP team actually swim in UAAP waters? Their checkered performance in pre-season leagues, local and international, show diminished dominance. UP had a hard time defending three-point shooting teams in their Canadian, AUBL and Korean sorties. As for La Salle, it will always draw on its defending champion pedigree. Two excellent guards—Jacob Cortez and Joaquin Tovera—now run their engine, while old reliables Mason Amos, Earl Abadam and JCee Macalalag steady the ship. Shiny new additions like Jason Cibull, TJ Adams and Joaquin Ludovice will put Coach Topex Robinson’s game out there. This team still knows how to win. Mike Philips’w graduation has left a big hole in the Archers’ front court, however. That, Luis Pablo

CHAIRMAN Patrick Gregorio emphasizes on the synergy between tourism and athletic development. PSC PHOTO

and Seven Gagate must adequately fill. Gollena’s departure also removed the instinctive glue guy and facilitator in the team. That’s a significant loss that can’t be measured by stats. And here’s the thing. Hungry Tigers are on the prowl, ready to crash the party. The University of Santo Tomas (UST) Growling Tigers are at their scariest this season, with a dominant center in Collins Akowe and an intact core hell-bent on finishing what they didn’t accomplish last year. UST is legit enough to stop the quadrilogy from even taking shape. As for the Adamson Soaring Falcons, they showed the stern stuff that they’re made of when they defeated La Salle in the Roxas City Invitational Tournament 2026 recently. The NU Bulldogs? They seem locked in for a Final Four slot. The Ateneo Blue Eagles, with zero external expectations, will fly under the radar and catch prey sans pressure. Far Eastern U Coach Sean Chambers said: “Aside from UP and La Salle, FEU’s gonna be a problem.” We believe him. With MVP Janrey Pasaol, Jorick Bautista, Mo Konateh and Kirby Mongcopa leading the charge along with new recruits, the Tams will be brave and true this year. By the way, the UE Warriors won’t be pushovers either in Season 89. They’ll be the wild card, the spirited, unpredictable guest at the party. Only 17 days left before the adrenaline flows again. Bring out those drums!

Editor: Jennifer A. Ng

Companies BusinessMirror

Thursday, August 27, 2026

Globe Telecom stock a strong buy, says Manila brokers By Lorenz S. Marasigan @lorenzmarasigan

WO Manila brokerage houses have placed a strong buy on Globe Telecom Inc., arguing that the country’s second-largest telecommunications operator is trading between 45 percent and 107 percent below its intrinsic value even as its operating metrics hit record highs. In separate stock updates, B.A. Securities Inc. and H.E. Bennett Securities Inc. said the market has penalized Globe for its leveraged balance sheet while assigning close to zero value to its 33.84-percent stake in Mynt, the parent firm of e-wallet GCash, which has filed for an initial public offering (IPO).

Globe closed at P1,748 apiece as of August 18, near the middle of a 52-week range of P1,401 to P1,964, giving it a market capitalization of about P251.7 billion. Jofer Gaite, vice president for sales at B.A. Securities, said the disconnect is rooted in how the market reads Globe’s capital structure rather than its cash generation. Intrinsic multiples-based valuation points to a target of P3,620.80 a share, while a discounted cash flow (DCF) model yields P2,544.27. Analyst consensus sits at P2,242.22, or 28.3 percent above the current price. Globe posted record consolidated gross service revenues of P85.4 billion in the first half, up 6 percent from about P80.6 billion in the same

period last year. Full-year 2025 gross service revenue reached an all-time high of P165.1 billion. Mobile revenues reached P60.4 billion, up 6 percent, while corporate data grew 15 percent to P11 billion and broadband rose 6 percent to P12.4 billion. Enterprise demand for cloud services, cybersecurity and data centers is now the company’s fastest-growing segment. Earnings before interest, taxes, depreciation and amortization (Ebitda) margin settled at 52.6 percent in the first semester, ahead of management’s roughly 50-percent guidance, translating to P44.9 billion in first-half Ebitda, or an annualized P89.8 billion. Net income, however, fell 11 per-

cent to P11 billion from about P12.4 billion, dragging net margin to 12.9 percent from 14.1 percent in 2025. Joel de la Peña, market strategist and chief trader at H.E. Bennett Securities, said the contraction is not an operational failure but the result of non-cash and below-the-line items—smaller one-time dilution gains from Mynt, heavier depreciation on network assets, and higher financing charges. Capital expenditures reached P26.3 billion in the first half, equivalent to 31 percent of revenues, down sharply from the 64.2-percent peak in 2022. Free cash flow stood at a positive P15.3 billion, reversing the negative P36.2 billion recorded four years ago. Net debt-to-EBITDA closed the semester at 2.48 times.

Both houses lean on a sum-ofthe-parts (SOTP) reading to make their case. Based on preliminary prospectus filings, Mynt is targeting an offer price of up to P10 per share. At an assumed $8-billion valuation, Globe’s retained 33.84-percent stake is worth $2.71 billion, or P157.36 billion—about P125.89 billion after a standard 20-percent holding company discount. Valuing the core telecom business separately at 5.5 times enterprise value to Ebitda and netting out roughly P232 billion in debt yields a core equity value of P261.90 billion, or P1,810.83 a share—already above the prevailing market price. Even in the bear case of a 5.0-times multiple and a 25-percent holding

discount, the SOTP fair value lands at P2,316.39, or 32.5 percent above current levels. Globe trades at 12.67 times earnings against a 10-year median of 13.22 times and an industry average of 17.6 times, on earnings per share of P136.90. Its forward multiple is 11.81 times and price-to-book is 1.44 times. The stock carries a P25 quarterly dividend, with an ex-date of August 17, for a yield of about 5.76 percent. The company serves 67.7 million mobile subscribers and 2.4 million broadband users, holds an estimated 44 percent to 47 percent subscriber share, and operates over 100,000 kilometers of fiber. Management has guided for low- to mid-single-digit revenue growth this year.

DMCI’S SOLMERA RESORT SEEN DRAWING ORGANIZED GROUPS

MCI Homes Inc., the property development arm of the Consunji Group, on Wednesday said it aims to boost tourist arrivals in Batangas with its Solmera Beach Park Resort in the coastal town of San Juan. Alfredo R. Austria, DMCI Homes president, said the development features a convention center that can accommodate up to 1,000 people. Austria said the company will soon open the facilities for bookings for next year’s events, in time for the opening of the condotels that the company itself will operate. San Juan may be a sleepy town in Batangas, which is a two- to three-hour drive from Metro Manila, but it draws travelers seeking beach experiences close to the capital. The municipality is also gaining traction as a venue for corporate gatherings, conferences and group events, Austria said. “There are many nice things in the Philippines. It’s just a matter of developing. There’s a uniqueness in San Juan, which could become the best beach in the Philippines.” Targeted to open in February 2027, the 7.5-hectare beachfront property is envisioned to be a beach resort that caters to both leisure travelers and organized groups. A key component of the development is its events infra-

structure, which is intended to accommodate corporate functions, conferences, training programs, celebrations and other group activities. The resort’s convention center will feature a main function hall measuring approximately 811 square meters, complemented by a 419 square meter veranda. Additional function spaces will be located across the development’s condotels, which may all open by next year. Landscaped lawns and openair areas throughout the property will provide additional venue options for outdoor gatherings. Accommodation options will include studio units, as well as one-bedroom and two-bedroom suites designed for individuals, families, and groups. Complementing these facilities is a pool complex spanning more than 4,000 square meters. Dining options will be located across different areas of the resort, which Austria said will also open by next year. To be operated by DMCI Hospitality and Leisure Inc., the development is expected to generate demand for hospitality services and create opportunities for businesses that support tourism activity. These will include local suppliers, transport providers, tourism partners and service-oriented enterprises that benefit from increased visitor traffic. VG Cabuag

Megaworld targets 12K hotel rooms by 2032 By Ma. Stella F. Arnaldo

@akosistellaBM Special to the BusinessMirror

EGAWORLD Corp. is further expanding its hospitality business by constructing more hotels in Palawan and Ilocos Norte, along with its current rollout in key tourism destinations in the country. In a statement on Wednesday, the listed real-estate development concern majority led by business tycoon Andrew Tan, said this expansion plan will increase its number of hotel keys to 12,000 by 2032, from the current 8,700. “This expansion will include both Megaworld’s homegrown hotel brands and internationally branded brands, further strengthening the company’s position as the Philippines’s biggest developer and operator of hotel developments,” said the company. The news statement also confirms BusinessMirror’s earlier report that the company will be establishing Megaworld Global Hotels and Resorts (MGHR) and appointing two managing directors — Socrates “Sonny” Alvaro and Anna Liza Vergara. (See, “Megaworld Hotels appoints new leaders,” in the BusinessMirror, Aug. 20, 2026.) MGHR oversees Megaworld Hotels & Resorts (MHR), which will manage its pro-

perites in Metro Manila, Boracay, Batangas, and Cebu, and Megaworld Global Hospitality (MGH), which will handle Mövenpick Manila Bay Westside, as well as the company’s new hotels in Palawan and three hotels in Iloilo namely, Courtyard by Marriot, Richmonde Hotel Iloilo, and Belmont Hotel Iloilo. In this regard, Alvaro will manage the MHR properties and Vergara will manage the MGH hotels. They replace Cleofe C. Albiso, MHR Managing Director, who is leaving the company at the end of August. “We see tourism as one of the most powerful engines of sustainable economic growth. Every hotel we build creates jobs, supports local businesses, brings visitors to new destinations, and opens more opportunities for communities to prosper,” said Kevin L. Tan, president and chief executive officer of the Alliance Global Group Inc. (AGI), parent company of Megaworld. “Through our expanding hospitality portfolio under MGHR, we want to help continue unlocking the immense tourism potential of the Philippines and bring more of our country’s destinations, culture, and world-class Filipino hospitality to travelers from around the globe.” Continued on B2

LUKEWARM OUTLOOK

Zoom Communications Inc. gave a sales outlook for the current quarter that was about in line with analysts’ estimates, disappointing investors hoping for a greater uplift from its expanded suite of products. Revenue will be about $1.28 billion in the quarter ending in October, Zoom said Tuesday in a statement. Profit, excluding some items, will be about $1.47 per share, which fell short of the average estimate of $1.50, according to data compiled by Bloomberg. The maker of a hit videoconferencing tool, Zoom has worked to offer more office collaboration products, such as corporate phone systems and software for contact centers. Photo shows the Zoom Communications Inc. headquarters in San Jose, California, US, on Wednesday, August 27, 2025. BLOOMBERG

SM Prime to expand malls in 3 major economic hubs

By VG Cabuag

@villygc

M Prime Holdings Inc. said it will spend more than P4 billion to add some 70,000 square meters of gross floor area to its three shopping malls, all to be finished by the end of the year. The projects will introduce a broader mix of retail, dining, entertainment and commercial offerings, brands and concepts making their debut in these markets. “The cities of Iloilo, Sto. Tomas and Naga are major economic hubs in their respective regions, with strong potential to attract more businesses and investment,” Jeffrey C. Lim, the company’s president, said. “Through these mall expansions, we aim to support their continued growth by creating more opportunities for MSMEs [micro, small and medium enterprises], generating local employment and contributing to stronger communities.” The largest of the three projects is the SM City Iloilo North Block, which was allotted P1.7 billion for the addition of about 35,000 square meters of gross floor area as part of a mixed-use development. The expansion will provide more

accessible covered multi-level parking, new ground-floor retail spaces for essential services, medical and wellness services, specialty stores, convenience store, cafe and a National University campus. In Batangas, SM City Sto. Tomas will spend P1.2 billion to add more than 26,000 square meters through the construction of a third level. The expansion will introduce amusement concepts, restaurants, wellness establishments and retail stores. The new level will also include a dedicated Trade Hall, co-working and meeting spaces and visual installations. Additional surface parking will be developed to support the mall’s increased capacity. SM City Naga, meanwhile, will undergo a two-storey expansion covering approximately 9,000 square meters. The company will spend P1.2 billion for the expansion. The project will integrate addi-

tional parking and roof deck extension while redeveloping existing tenant areas to improve circulation and the overall customer experience. In line with SM Prime’s sustainability commitments, the three expansions will feature energy-and water-efficient systems, solar panels, EV charging stations and enhanced waste management facilities to reduce resource use across their operations. Local residents will also be prioritized for employment opportunities created by the projects. The company recently reported that its income in January to June came in flat at P24.5 billion compared with the previous year’s P24.45 billion, as costs and expenses eclipsed revenue growth. Total revenues rose 5 percent to P71.7 billion from P68 billion, with rental income from malls, offices, hospitality and MICE accounting for 61 percent. Lim said the company is targeting to at least match last year’s income of P48.84 billion. Real estate sales for the period contributed 27 percent, while cinema ticket sales, food and beverage, amusement and related offerings generated the remaining 12 percent. Costs and expenses during the same period increased 6 percent to P35.6 billion from P33.6 billion, due to higher depreciation and amortization charges, fixed overhead costs and construction expenses.

Vietjet to offer flights from Clark airport

IETNAMESE low-cost carrier Vietjet will begin flying between Clark and Ho Chi Minh City on November 10, its first service out of Clark International Airport (CRK) and a fresh international link for travelers based outside Metro Manila. The airline will operate three round-trip flights weekly on the route—every Tuesday, Thursday and Saturday—connecting Central and Northern Luzon to Vietnam’s largest commercial center without the drive to Metro Manila. Noel Manankil, president and CEO of Luzon International Premiere Airport Development (Lipad) Corp., the operator of Clark International Airport, said the launch validates the airport’s pitch to foreign carriers that its catchment area extends well beyond the capital region. “Vietjet’s decision to launch its first Clark service is a strong vote of confidence in the market we serve,” he said. “Clark gives airlines access to a large catchment area beyond Metro Manila, and this direct connection to Ho Chi Minh City creates a more efficient travel option for passengers across Central and Northern Luzon.” Manankil added that Lipad sees “considerable potential” for the route to carry both leisure and business traffic between the two markets. Lorenz S. Marasigan

Companies BusinessMirror

Thursday, August 27, 2026

MPower to supply electricity to Big Ben plants in Bulacan

By Lenie Lectura

@llectura

POWER, the local retail electricity supplier (RES) of the Manila Electric Co. (Meralco), has partnered with Big Ben Group to provide reliable and competitive power to its manufacturing plants in Pulilan, Bulacan. This collaboration aims to support Big Ben Group’s ready-mix concrete production and sustainability goals. “Sustainability has to be embedded in how we operate and plan for the future. Partnering with MPower enables us to improve our energy management while supporting our long-term business and sustain-

ability goals. It reinforces our belief that responsible business decisions and operational excellence go hand in hand,” Big Ben Group Director Benjamin Eusebio said. The Big Ben Group is a manufacturer and supplier of readymix concrete, delivering support for construction developments ranging from residential projects

Megaworld targets 12K hotel rooms by 2032 Continued from B1

For her part, Megaworld President and CEO Lourdes Gutierrez-Alfonso said: “One of our biggest contributions to nation-building is to help make our tourism industry more vibrant and attractive, especially to foreign visitors. To support this goal of helping boost our country’s tourism, we are making this bold move of expanding our hospitality organization with established veterans and innovators

in the global hotels and leisure industry.” Meanwhile, Alvaro is a seasoned hotelier, having spent years in senior leadership roads in MHR. He has also worked for 20 years in various capacities in hospitality properties abroad, such as the United Kingdom, United Arab Emirates, Egypt, the Maldives, Thailand, and key destinations in Asia. Vergara has worked for 32 years in the Philippine properties of Marriott International, a leading global hospitality chain. She is currently the general manager of Sheraton Manila at Newport City, a hotel also owned by AGI under its Travellers International unit. In the first half of 2026, MHR recorded P3.1 billion in revenues, an 11-percent increase year on year, making the unit Megaworld’s fastest-growing recurring income segment. The strong performance was driven by the opening of the 405-room Belmont Hotel Iloilo, the company’s third hotel within its 72-hectare Iloilo Business Park and now the largest hotel in Iloilo City in terms of room inventory, bringing Megaworld’s total hotel portfolio in the city to nearly 1,000 rooms.

to major and commercial infrastructure. “Energy reliability and cost efficiency are fundamental to how we operate and compete. We cannot promise excellence to our clients if we do not secure excellence in our own operations. Partnering with a trusted provider like MPower strengthens the foundation of our business and supports our long-term vision for growth and resilience,” Big Ben Group Chairman Eusebio Pacifico Garcia said. He added that the collaboration with MPower further strengthens the operational continuity across Big Ben Group’s facilities by helping ensure efficient production and timely delivery of projects that support the communities it serves. “Our commitment extends beyond delivering power. We support Big Ben Group’s growth by providing the energy solutions and expertise needed to strength-

en operational performance and long-term resilience. By ensuring a stable and reliable power supply, we help create the conditions for businesses to focus on what they do best and continue creating value for their customers and communities,” MPower Head Redel Domingo, for his part, said. Meralco recently reported that its net income went up by 11 percent year-on-year to P26.3 billion in the first half, buoyed by the strong performance of its distribution, generation, and retail electricity businesses. Consolidated core net income (CCNI) at end-June also improved by 3.8 percent to P26.5 billion from P25.5 billion, driven by a 48-percent contribution from the distribution utility (DU) and growing power generation earnings. The company said it maintained stability through a “diversified earnings mix and prudent cost management” amid global fuel pressures.

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PSE STOCK QUOTATIONS

August 26, 2026

Net Foreign Stocks Bid Ask Open High Low Close Volume Value Trade (Peso) Buy (Sell) FINANCIALS

ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK COL FINANCIAL FIRST ABACUS FERRONOUX HLDG LMG CORP MANULIFE NTL REINSURANCE PHIL STOCK EXCH VANTAGE

50 122.4 10.18 104.2 53.45 11.08 67.5 7 14.78 67 51 23 66.05 24.5 1.41 0.54 4.1 0.335 2,502 1.16 205 0.8

50.2 122.6 10.28 105 54.2 11.1 67.55 7.07 14.8 67.45 52.7 23.1 66.2 24.75 1.46 0.55 4.21 0.35 2,550 1.18 209.8 0.88

50.35 121.2 10.26 105.5 53.3 11.1 67.65 7 14.8 66.6 52.5 23.05 66.95 24.9 1.46 0.5 4.01 0.34 2,510 1.2 212 0.82

50.35 122.9 10.26 106.8 54.2 11.1 67.9 7 14.8 67.65 52.8 23.05 67 24.9 1.47 0.54 4.68 0.375 2,510 1.26 212 0.88

49.85 121.1 10.26 103.8 53 11.06 67.45 7 14.8 66 51 23 65.95 24.3 1.42 0.495 4.01 0.335 2,510 1.16 205 0.8

50 122.6 10.26 105 54.2 11.08 67.55 7 14.8 67.45 52.7 23 66.2 24.5 1.42 0.54 4.1 0.35 2,510 1.18 205 0.88

72,480 2,064,290 10,000 1,161,300 189,070 156,900 1,184,620 2,100 700 159,130 2,600 10,300 685,240 9,500 373,000 154,000 133,000 1,380,000 15 9,109,000 7,780 620,000

3,626,205 252,430,295 102,600 122,539,297 10,155,787 1,736,290 80,055,594 14,700 10,360 10,693,931 136,381 237,400 45,791,567 233,105 536,930 78,795 578,400 507,600 37,650 10,909,470 1,597,760 512,820

2,869,495 -39,713,125 -7,974,728 4,192,626 1,049,532 -16,966,575 14,700 3,683,796 40,401 -3,179,925 -9,785 -117,600 -2,240 -4,660 25,100 6,785,610 1,486,250 -18,040

INDUSTRIAL ACEN CORP 2.88 2.91 2.89 2.91 2.86 2.91 3,303,000 9,542,300 3,006,000 ALSONS CONS 1.24 1.25 1.2 1.29 1.16 1.24 45,322,000 55,822,540 -867,080 0.75 0.76 0.75 0.77 0.75 0.76 528,000 397,340 -6,760 ALTERNERGY HLDG ABOITIZ POWER 45.55 45.9 46.45 46.45 45.5 45.9 2,018,100 92,782,190 33,993,720 1.1 1.14 1.21 1.13 1.14 1,137,000 1,334,730 15,740 RASLAG 1.22 BASIC ENERGY 0.11 0.111 0.111 0.112 0.111 0.111 910,000 101,090 4.74 4.98 4.69 5 4.69 4.98 617,000 2,993,460 1,526,480 CITICORE RE FIRST GEN 25.15 25.2 26.5 27.05 24.8 25.15 3,303,700 84,010,780 14,341,715 106.1 106.2 106.5 107.9 106.1 106.1 325,500 34,612,262 814,252 FIRST PHIL HLDG MERALCO 484.6 482 482.4 480 479 482 289,190 139,226,800 -60,610,072 35.2 35.25 35.6 35.95 35.2 35.2 320,100 11,375,775 1,553,460 MANILA WATER 18.2 18.26 18.06 18.02 18.26 1,457,700 26,505,366 -2,921,506 MAYNILAD 18.28 PETRON 2.38 2.37 2.37 2.39 2.35 2.38 884,000 2,097,440 230,710 3.95 4 3.9 3.9 4 103,000 409,880 -8,040 PETROENERGY 4.15 PRYCE CORP 15.02 15.28 15.02 15.02 15.02 15.02 1,100 16,522 9.6 9.8 9.61 9.61 9.6 9.6 400 3,843 REPOWER ENERGY SEMIRARA MINING 18.6 18.9 18.6 19.28 18.5 18.6 1,734,000 32,487,746 9,985,836 27.8 28 28.95 29 27.75 27.8 1,666,500 46,881,780 -22,829,435 SYNERGY GRID SHELL PILIPINAS 8.13 8.28 8.3 8.39 8.11 8.13 303,400 2,489,691 -90,728 9.51 9.68 9.75 9.75 9.51 9.51 128,900 1,227,983 -1,022,599 SPC POWER SP NEW ENERGY 1.26 1.27 1.26 1.29 1.25 1.26 24,819,000 31,446,810 -13,063,430 1.71 1.73 1.82 1.85 1.69 1.73 6,473,000 11,359,620 -1,826,070 TOP LINE 19.2 19.2 19.2 19.2 19.2 200 3,840 VIVANT 20.6 AXELUM 2.86 2.81 2.82 2.86 2.8 2.81 861,000 2,418,460 -249,630 0.305 0.315 0.31 0.31 0.31 0.31 110,000 34,100 24,800 BALAI FRUITAS CENTURY FOOD 32.55 12,366,000 32.65 32.75 32.9 33 32.75 377,800 -158,105 3.67 3.8 3.6 3.77 3.6 3.77 44,000 163,840 -83,110 DEL MONTE DNL INDUS 3.5 3.51 3.53 3.53 3.5 3.5 2,847,000 9,969,140 1,099,420 15.5 15.98 15.98 15.42 15.72 256,700 4,006,422 -1,728,928 EMPERADOR 15.72 SMC FOODANDBEV 47.5 47.45 47.5 47.5 47.4 47.45 13,900 660,155 0.67 0.69 0.66 0.72 0.66 0.69 6,615,000 4,574,260 -574,350 FIGARO GROUP FRUITAS HLDG 0.66 0.66 0.65 0.66 0.65 0.65 146,000 94,910 226 226.4 227 227 225.8 226.4 66,190 14,979,872 -8,358,576 GINEBRA 161.1 161.2 160.8 160.6 161.2 749,470 121,016,249 16,154,975 JOLLIBEE 162.6 KEEPERS HLDG 1.9 1.93 1.95 1.97 1.9 1.9 321,000 617,540 -283,610 20.8 21 20.75 22.3 20.7 21 3,300 72,530 LIBERTY FLOUR MAXS GROUP 2.17 2.3 2.14 2.49 2.14 2.3 156,000 355,870 -59,800 0.069 0.074 0.069 0.069 0.069 0.069 60,000 4,140 MG HLDG MONDE NISSIN 7.01 7.01 6.9 6.85 6.84 7.01 1,691,400 11,694,661 6,355,052 5.65 5.77 5.8 5.8 5.65 5.77 44,700 254,165 -28,814 SHAKEYS PIZZA ROXAS AND CO 2.42 2.52 2.53 2.55 2.42 2.42 65,000 161,560 5.28 5.29 5.33 5.33 5.27 5.29 545,400 2,885,737 -133,145 RFM CORP SWIFT FOODS 0.056 0.058 0.057 0.057 0.056 0.056 800,000 44,840 60.85 61 62.15 62.35 60.5 61 1,114,390 68,158,434 -14,325,724 UNIV ROBINA 0.5 0.51 0.53 0.5 0.51 278,000 140,580 VITARICH 0.53 VICTORIAS 1.99 1.91 1.92 1.92 1.9 1.91 33,000 62,990 0.415 0.43 0.415 0.415 0.415 0.415 800,000 332,000 ATN HLDG A ATN HLDG B 0.41 0.415 0.415 0.415 0.415 0.415 1,350,000 560,250 55.1 55.1 55.1 58.05 60 3,450 58.05 58.05 CONCRETE A CONCRETE B 59.95 59.95 54.05 57 57 59.95 1,510 87,120 86,520 1.29 1.3 1.32 1.33 1.28 1.3 698,000 906,890 CONCREAT HLDG EEI CORP 1.95 1.95 1.9 1.9 1.9 1.9 296,000 564,770 -512,340 4.66 4.67 4.69 4.63 4.67 429,000 2,005,950 181,340 MEGAWIDE 4.69 PHINMA 14.88 14.02 14.02 14.02 14.02 14.02 600 8,412 1.82 1.84 1.81 1.85 1.81 1.84 38,000 69,820 CROWN ASIA EUROMED 1.14 1.2 1.13 1.14 37,000 42,990 1.2 1.2 MABUHAY VINYL 5.15 5.15 5 5.15 5.15 5.15 100 515 -515 10.66 10.8 10.8 10.6 10.72 412,800 4,402,730 1,649,852 CONCEPCION 11.06 GREENERGY 0.169 0.166 0.169 0.17 0.164 0.169 560,000 93,880 -13,440 7.12 7.2 6.63 7.42 6.25 7.12 21,771,500 148,745,782 42,492,989 INTEGRATED MICR IONICS 2.21 2.15 2.16 2.1 2.07 2.16 5,364,000 11,493,090 1,146,270 7.17 7.2 7.2 7.17 7.18 21,400 153,976 PANASONIC 7.18 CIRTEK HLDG 1.3 1.32 1.29 1.36 1.28 1.32 4,805,000 6,360,130 121,960

HOLDING & FRIMS

MUTUAL FUNDS

August 26, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A215.78 -2.06% 2.25% -0.38% -2.25% 0.79% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.3008 11.18% 17.12% 9.27% 4.93% 6.44% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8718 -2.38% 0.86% -1.01% -4.14%0.73% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7724 1.7% 4.88% 0.94% N.A5.2% FIRST METRO CONSUMER FUND, INC. -A 0.5124 -13.59% -6.52% -7.28% N.A -7.86% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.3715 -5.3% -0.97% -2.17% -2.25% -0.03% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.657 -1.84% -0.54% -2.22% N.A2.24% MBG EQUITY INVESTMENT FUND, INC. -A 74.02 -11.71% -3.74% -5.39% N.A -17.26% PAMI EQUITY INDEX FUND, INC. -A 43.0045 0.52% 1.3% -0.88% -1.98% 3.98% PHILAM STRATEGIC GROWTH FUND, INC. -A 452.46 -2.38% 1.86% -0.88% -2.16% 0.65% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.6133 6.1% 11.99% 6.5% 2.1% 3.33% PHILEQUITY FUND, INC. -A36.5898 3.67% 3.99% 1.4% -0.28% 6.27% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9696 7.26% 5.59% 1.92% N.A 9.23% PHILEQUITY PSE INDEX FUND, INC. -A 4.6536 1.44% 2.36% 0.14% -1.07% 4.12% PHILIPPINE STOCK INDEX FUND CORP. -A 765.79 1.03% 1.99% -0.16% -1.3% 4.19% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7182 2.84% 3.1% 0.53% -2.55% 2.29% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.2021 -6.67% -0.34% -1.99% -2.79%-0.23% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8583 0.85% 1.57% -0.53% -1.56%4.16% UNITED FUND, INC. -A3.70269.14% 7.29% 2.78% 0.55% 12.63% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0749 1.01% 2% N.A N.A 4.07% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0721 0.51% N.A N.A N.A 2.74% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9351 -3.21% -1.84% -2.86% N.A -0.97% PHILIPPINE STOCK INDEX FUND CORP. -A 924.06 1.03% 1.78% N.A N.A 4.24% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 104.4963 1.3% 2.21% 0.17% -0.88%4.48% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2377 31.07% 14.74% 0.96% 3.29% 20.81% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4497 18.08% 16.27% 5.96% 8.86% 10.13% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) N.A N.A N.A N.A PHILEQUITY GLOBAL FUND, INC. -A,2 1.0797 N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1997 2.66% 1.34% 0.02% -0.84% 2.78% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7239 8.12% 5.92% 0.72% -0.6%5.35% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5175 -0.21% 0.92% -0.58% -0.57%2.25% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2318 0.22% 7.1% 4% N.A -0.04% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.009 2.05% 1.35% 0.59% 0.39% 0.32% PAMI HORIZON FUND, INC. -A3.7815 0.75% 3.39% 0.61% -0.25% -0.22% PHILAM FUND, INC. -A15.9789-1.74% 2.13% -0.56% -0.81% -0.19% SOLIDARITAS FUND, INC. -A2.127 0.41% 2.56% 0.75% 0.01% 1.27% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4298 -2.54% 1.4% -0.55% -1.18%0.18% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9016 -3.25% 1.24% 0.34% -0.91% -1% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.77 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9809 0.67% 2.19% 0% N.A 0.21% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8396 -2.37% 1% -1.35% N.A -0.26% -2.81% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8096 0.54% -1.76% N.A -0.2% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03324 0.54% 1.01% -2.82% -0.85% -3.09% PAMI ASIA BALANCED FUND, INC. -B $1.1605 -0.91% 9.96% 1.21% 2.18% -4.09% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.6739 11.88% 11.95% 3.39% 5.83%6.29% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2057 5.26% 6.87% 0.26% 2.3%1.88% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.51 2.55% 3.27% 2.64% 2.53% 1.08% ATRAM CORPORATE BOND FUND, INC. -A 1.9854 2.26% 1.19% 0.62% 0.36% 1.37% COCOLIFE FIXED INCOME FUND, INC. -A 3.6085 1.68% 3.06% 2.19% 3.22% 0.24% EKKLESIA MUTUAL FUND, INC. -A 2.4444 0.84% 3.15% 1.58% 1.42% -0.33% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5119 -1.41% 1.39% 0.59% 1.12%-2.22% PHILAM BOND FUND, INC. -A4.5297 -0.57% 2.78% 0.24% 0.68% -1.74% PHILAM MANAGED INCOME FUND, INC. -A 1.5435 3.09% 4.59% 3.2% 2.94% 1.55% PHILEQUITY PESO BOND FUND, INC. -A 4.3235 1.53% 3.06% 1.68% 1.89% 0.24% SOLDIVO BOND FUND, INC. -A1.1306 2.37% 2.85% 1.76% 1.65% 0.9% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.4541 -1.99% 2.37% 1.44% 1.94% -2.44% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8322 -1.84% 1.97% 0.93% 1.34% -2.77% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0095 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $533.03 2.05% 2.88% 1.79% 1.94% 0.75% ALFM EURO BOND FUND, INC. -A Є223.12 0.32% 1.84% 0.23% 0.53% -0.29% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0559 -2% 0.65% -2.63% -0.64% -1.78% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0258 -1.15% 2.02% -0.31% 0.28%-2.64% PAMI GLOBAL BOND FUND, INC. -B $1.0475 -1.59% 7.85% -0.12% -0.62% -1.18% PHILAM DOLLAR BOND FUND, INC. -A $2.4289 -0.14% 3.08% -0.8% 0.53% -2.06% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0637015 -0.2% 1.7% 0.19% 1.13% -1.16% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8647 -0.53% 1.97% -2.2% -0.76%-2.32% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1861 2.75% N.A N.A N.A 1.69% ALFM MONEY MARKET FUND, INC. -A 152.64 4.21% 4.1% 3.18% 2.85% 2.53% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2236 3.49% 3.78% 3.02% N.A2.16% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5143 3.64% 3.59% 2.97% 2.76% 2.21% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 116.95 4.18% 4.32% N.A N.A 2.63% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1946 2.55% 3.31% 2.45% N.A 1.56% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.2351 7.92% 3.93% N.A N.A 4.61% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8457 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5433 30.77% 22.08% 13.88% N.A17.2% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1947 12.57% 6.12% N.A N.A 7.08% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS)

ABACORE CAPITAL 0.37 0.375 0.34 0.38 0.335 0.375 26,430,000 9,580,450 -513,600 ASIABEST GROUP 54.5 54.55 53.5 54.95 53.5 54.55 527,320 28,737,935 2,445,781 504.5 507 509 509.5 503.5 507 94,190 47,737,850 8,791,920 AYALA CORP ABOITIZ EQUITY 37.45 37.75 37.05 37.6 37.05 37.45 1,614,800 60,350,615 -1,303,305 8.99 9 9.28 9.28 8.96 9 784,000 7,066,385 -2,794,079 ALLIANCE GLOBAL ANSCOR 16.76 16.52 17 16.76 16.5 16.76 1,300 21,632 1.08 1.09 1.09 1.09 1.07 1.08 950,000 1,026,340 -6,880 ANGLO PHIL HLDG COSCO CAPITAL 8.09 8.1 8.2 8.2 8.01 8.09 207,100 1,686,838 322,215 7.88 7.9 7.85 7.93 7.84 7.9 2,029,400 16,015,286 -6,868,838 DMCI HLDG FILINVEST DEV 3.6 3.61 3.6 3.78 3.6 3.61 17,000 61,900 -7,490 497 499 499 499.8 492 497 44,180 21,920,986 -7,107,372 GT CAPITAL 5.19 5.2 5.2 5.2 5.19 5.2 4,700 24,439 HOUSE OF INV JG SUMMIT 21.7 21.7 21.5 21.55 21.4 21.7 559,700 12,054,960 -4,307,550 0.35 0.37 0.375 0.37 0.37 130,000 48,200 LODESTAR 0.375 LOPEZ HLDG 5.55 5.56 5.6 5.69 5.5 5.55 89,700 498,206 110,361 15.2 15.22 15.18 15.22 15.12 15.2 2,383,900 36,160,282 1,262,048 LT GROUP PACIFICA HLDG 0.85 0.88 0.9 0.9 0.86 0.86 108,000 93,550 860 1.24 1.25 1.05 1.24 1.05 1.24 239,000 277,800 PRIME MEDIA SOLID GROUP 1.2 1.21 1.2 1.2 1.17 1.2 106,000 125,560 72,860 568 569 575 577 567 569 297,720 169,644,825 -29,945,220 SM INVESTMENTS SAN MIGUEL CORP 64 64.5 64 64.5 63 64.5 54,820 3,494,490 -1,760,516 2 2.22 2 2 2 2 33,000 66,000 SEAFRONT RES ZEUS HLDG 0.067 0.07 0.071 0.073 0.07 0.07 430,000 30,200 PROPERTY ARTHALAND CORP 0.435 0.47 0.46 0.47 0.455 0.47 460,000 214,350 4,600 AYALA LAND 15.4 15.46 15.74 16.02 15.32 15.4 38,022,800 593,761,424 -207,622,300 1.18 1.19 1.19 1.19 1.16 1.18 635,000 743,580 AYALA LAND LOG ALTUS PROP 11.7 11.8 11.74 11.74 11.7 11.7 10,000 117,120 37.2 37.3 37.5 37.7 37 37.3 1,237,400 46,075,750 -21,054,315 AREIT RT A BROWN 0.74 0.74 0.71 0.73 0.72 0.74 36,000 26,090 0.61 0.62 0.61 0.61 0.61 0.61 382,000 233,020 232,410 CITYLAND DEVT CROWN EQUITIES 0.091 0.093 0.088 0.093 0.088 0.091 2,760,000 247,840 -930 2.11 2.12 2.15 2.15 2.09 2.12 912,000 1,927,760 14,740 CEB LANDMASTERS CENTURY PROP 0.72 0.73 0.73 0.74 0.71 0.73 3,125,000 2,254,640 1,420 3.2 3.22 3.27 3.3 3.18 3.2 4,826,000 15,516,350 -5,850,560 CITICORE RT 11.98 12.16 11.94 12.16 294,700 3,576,022 -1,035,928 DOUBLEDRAGON 12.16 12.16 DDMP RT 1.04 1.04 1.03 1.03 1.03 1.04 474,000 490,110 -2,080 4.85 4.8 4.8 4.9 43,000 206,700 4,800 DM WENCESLAO 4.9 4.9 EVERWOODS 0.029 0.029 0.027 0.029 0.029 0.029 100,000 2,900 0.099 0.102 0.1 0.1 0.1 0.1 70,000 7,000 EMPIRE EAST FILINVEST RT 2.89 2.9 2.92 2.92 2.89 2.9 1,794,000 5,203,390 266,770 0.68 0.69 0.68 0.69 0.68 0.69 312,000 213,070 47,430 FILINVEST LAND GLOBAL ESTATE 0.64 0.64 0.62 0.64 0.63 0.64 832,000 530,960 2.3 2.27 2.2 2.3 20,639,000 47,113,750 -1,185,310 2.31 2.31 MEGAWORLD MRC ALLIED 0.7 0.7 0.69 0.7 0.69 0.7 39,826,000 27,683,010 -700 13.82 13.86 13.84 13.88 13.8 13.86 388,900 5,388,896 2,334,762 MREIT RT 0.159 0.163 0.161 0.163 0.16 0.163 2,530,000 407,510 156,740 PRMIERE HORIZON PREMIERE RT 1.04 1.05 1.04 1.06 1.03 1.05 108,000 111,670 -28,840 0.99 1.03 1.03 1.1 12,000 12,790 PRIMEX CORP 1.1 1.1 RL COMM RT 7.17 7.2 7.2 7.2 7.12 7.2 7,309,800 52,473,127 -431,331 17.4 17.36 17.34 17.6 491,500 8,538,870 370,960 ROBINSONS LAND 17.6 17.6 PHIL REALTY 0.106 0.111 0.111 0.111 0.105 0.106 1,540,000 163,320 3.3 3.33 3.36 3.16 3.33 669,000 2,198,800 63,080 3.38 ROCKWELL SHANG PROP 3.28 3.28 3.24 3.25 3.23 3.28 133,000 433,640 -332,820 1.85 1.9 1.82 1.93 1.82 1.9 19,000 35,190 8,970 STA LUCIA LAND SM PRIME HLDG 18.1 18.12 18.1 18.28 18.04 18.1 2,420,500 43,807,572 -17,780,216 0.41 0.42 0.41 0.41 0.41 0.41 110,000 45,100 SUNTRUST RESORT PTFC REDEV CORP 50 54.45 50 50 50 50 30 1,500 SERVICES ABS CBN 3.61 3.65 3.56 3.73 3.56 3.65 169,000 612,330 GMA NETWORK 4.08 4.13 4.23 4.23 4.08 4.08 1,242,000 5,162,030 0.177 0.181 0.179 0.179 0.177 0.177 120,000 21,300 MANILA BULLETIN MLA BRDCASTING 5.1 5.49 5.1 5.1 5.1 5.1 200 1,020 0.73 0.74 0.73 0.75 0.73 0.74 3,194,000 2,346,240 127,220 DITO CME HLDG GLOBE TELECOM 1,660 1,670 1,683 1,698 1,651 1,670 44,840 74,672,510 8,590,195 1,186 1,188 1,193 1,195 1,186 1,186 152,290 -78,857,015 PLDT 181,093,425 APOLLO GLOBAL 0.0063 0.0063 0.0062 0.0063 0.0062 0.0063 17,000,000 106,600 9.5 9.51 9.5 9.6 9.46 9.5 1,539,700 -8,356,904 14,664,678 CONVERGE DFNN INC 0.71 0.71 0.64 0.71 0.71 0.71 1,000 710 0.78 0.98 0.86 0.86 0.86 125,000 107,500 0.86 IMPERIAL ISLAND INFO 0.12 0.122 0.124 0.124 0.12 0.122 1,180,000 142,310 NOW CORP 0.47 0.47 0.45 0.46 0.46 0.47 180,000 83,100 0.119 0.124 0.119 0.12 1,140,000 136,640 0.124 0.124 TRANSPACIFIC BR CHELSEA 0.89 0.89 0.86 0.87 0.87 0.89 20,000 17,420 27.9 28 28 28.25 27.75 27.9 366,000 10,220,780 -610,520 CEBU AIR INTL CONTAINER 920.5 922 934 941 916 920.5 1,317,320 1,222,651,195 -254,735,325 7 7.89 6.97 7 6.97 7 1,000 6,981 -3,485 LBC EXPRESS LORENZO SHIPPNG 0.67 0.69 0.7 0.7 0.69 0.69 103,000 72,070 2,070 3.73 3.8 3.8 3.7 3.73 2,285,000 8,499,240 -1,328,820 MACROASIA 3.76 PAL HLDG 2.45 2.48 2.45 2.52 2.35 2.45 4,222,000 10,292,220 -1,593,590 1.83 1.84 1.89 1.89 1.72 1.83 8,644,000 15,725,030 -1,555,750 HARBOR STAR 1.29 1.4 1.48 1.48 1.29 1.4 7,000 9,900 ACESITE HOTEL BOULEVARD HLDG 0.033 0.033 0.032 0.031 0.031 0.032 11,800,000 377,800 -3,300 0.91 0.98 0.91 0.97 0.91 0.97 2,000 1,880 -60 DISCOVERY WORLD GRAND PLAZA 5.03 5.03 5.02 5.02 5.02 5.03 9,800 49,289 0.405 0.42 0.39 0.39 0.405 180,000 71,850 19,500 0.405 WATERFRONT CENTRO ESCOLAR 14.94 14.96 14.96 14.98 14.94 14.94 7,000 104,700 26,964 800 822.5 800 800 800 800 100 80,000 FAR EASTERN U IPEOPLE 7.32 6.9 6.9 6.9 6.9 6.9 24,100 166,290 166,290 1.28 1.31 1.3 1.3 1.29 1.3 208,000 270,390 254,790 STI HLDG BELLE CORP 1.16 1.17 1.18 1.18 1.15 1.17 426,000 490,590 54,290 2.42 2.43 2.47 2.41 2.43 10,651,000 26,172,380 -11,996,900 BLOOMBERRY 2.53 1.7 1.85 1.75 1.75 1.75 1.75 31,000 54,250 PACIFIC ONLINE DIGIPLUS 21,235,565 9.67 9.7 9.83 9.91 9.63 9.67 2,177,500 4,625,232 14.56 14.6 14.2 14.1 14.6 3,233,500 46,893,856 17,694,166 PHILWEB 14.86 BERJAYA 9.29 8.23 9.27 8.2 8.2 9.28 1,600 13,770 -928 1.07 1.08 1.07 1.07 1.05 1.07 76,000 81,160 59,920 METRO RETAIL PUREGOLD 40 40.1 40.75 40.75 39.8 40 911,900 36,469,920 -4,347,840 33.5 33.7 33.85 33.85 33.7 33.7 4,400 148,500 -77,510 PHIL SEVEN CORP SSI GROUP 2.06 2.09 2.07 2.14 2.06 2.06 252,000 521,840 0.87 0.89 0.94 0.94 0.87 0.87 886,000 810,650 -200 UPSON INTL CORP WILCON DEPOT 6.02 6.08 5.97 6.14 5.85 6.08 1,019,000 6,172,709 3,574,257 0.105 0.111 0.107 0.107 0.105 0.105 910,000 95,770 APC GROUP MEDILINES 0.232 0.232 0.232 0.232 0.232 10,000 2,320 0.233 PAXYS 3.75 3.7 3.56 3.7 3.5 3.7 80,000 289,240 14,600 3.05 3.22 3.04 3.2 3.04 3.2 4,000 12,480 SBS PHIL CORP MINING & OIL 1.95 1.95 ATOK 1.89 1.95 1.92 1.92 8,000 15,390 15.94 16 16.18 16.34 15.96 16 1,409,500 22,738,472 -4,571,890 APEX MINING ATLAS MINING 17.58 17.8 18 18.3 17.52 17.8 5,099,100 91,301,676 14,126,088 7.26 7.37 7.36 7.36 7.25 7.26 143,200 1,043,956 BENGUET A BENGUET B 7.3 7.69 7.7 7.7 7.3 7.3 83,600 639,040 90,090 4.15 4.38 4.15 4.15 4.15 4.15 15,000 62,250 -62,250 DIZON MINES EC VULCAN 0.3 0.315 0.325 0.325 0.3 0.3 2,890,000 883,150 66,000 2.19 2.2 2.26 2.12 2.19 979,000 2,116,800 -902,670 FERRONICKEL 2.26 GEOGRACE 0.102 0.099 0.1 0.091 0.088 0.1 4,030,000 372,130 0.236 0.24 0.235 0.241 0.234 0.24 21,490,000 5,114,840 LEPANTO A LEPANTO B 0.232 0.235 0.235 0.24 920,000 216,350 4,750 0.24 0.24 MANILA MINING A 0.0087 0.0088 0.0087 0.0087 0.0087 0.0087 22,000,000 191,400 0.0081 0.0087 0.0088 0.0088 0.0087 0.0087 15,000,000 131,500 88,000 MANILA MINING B MARCVENTURES 0.85 0.81 0.82 0.83 0.81 0.82 3,076,000 2,564,030 -268,690 0.52 0.53 0.57 0.5 0.52 910,000 472,790 NIHAO 0.57 NICKEL ASIA 4.29 4.29 4.27 4.29 4.27 4.29 2,997,000 12,824,490 1,074,170 36.5 36.9 36.9 36.3 36.6 308,200 11,310,570 -4,175,695 OCEANAGOLD 36.6 ORNTL PENINSULA 0.54 0.56 0.56 0.57 0.53 0.56 174,000 96,240 7,590 11.44 11.46 11.18 11.7 11.18 11.46 4,151,300 47,502,696 4,818,694 PX MINING UNITED PARAGON 0.0075 0.0075 0.0072 0.0075 0.0075 0.0075 8,000,000 60,000 -7,500 3.23 3.59 3.3 3.3 3.3 3.3 1,000 3,300 ENEX ENERGY ORNTL PETROL A 0.013 0.014 0.013 0.013 0.013 0.013 300,000 3,900 ORNTL PETROL B 0.013 0.014 0.013 0.014 0.013 0.014 323,200,000 4,201,700 0.0082 0.0083 0.0083 0.0083 0.0083 22,000,000 182,700 0.0084 PHILODRILL PXP ENERGY 3.07 3.1 3.08 3.12 3.02 3.1 269,000 824,800 236,740 PREFFERED ACEN PREF A 985.5 995 985.5 990 985 985.5 8,000 7,888,448 -7,622,298 AC PREF AR 2,466 2,494 2,466 2,466 2,466 2,466 55 135,630 1,952 1,960 1,960 1,960 1,960 1,960 30 58,800 AC PREF B4R ALCO PREF F 473.2 494 485 485 470 473 2,160 1,022,470 100.8 103.7 101.1 101.1 101 101 1,020 103,021 BRN PREF B BRN PREF C 101.7 103.5 103.3 103.5 102 103.5 2,350 239,866 -2,040 28.25 28.7 29.05 29.05 28.7 28.7 11,300 326,700 CEB PREF CLI PREF A1 920 990 988 988 910 910 5,060 4,751,870 -4,695,130 998 1,000 1,000 1,000 995 1,000 1,005 1,004,480 60,000 CLI PREF A2 CPG PREF B 98 99 99 99 98 99 420 41,510 93.25 93.3 93.25 93.3 36,300 3,386,785 93.3 93.3 DD PREF EEI PREF B 95.3 96 96 96 96 96 5,000 480,000 GLO PREF ANV 1,935 1,972 1,935 1,936 1,935 1,936 15 29,035 1,955 1,960 1,965 1,965 1,960 1,960 75 147,075 GLO PREF BNV GTCAP PREF B 990 995 990 990 990 990 350 346,500 988 995 990 990 990 990 150 148,500 JFC PREF B MWIDE PREF 7B 99.15 102 102.8 102.8 102.8 102.8 10 1,028 980.5 990 990 990 990 990 20 19,800 PCOR PREF 4A PCOR PREF 4C 987 990 990 990 990 990 20 19,800 975 987 975 996.5 975 975 1,500 1,462,715 PCOR PREF 4D PCOR PREF 4E 976.5 1,000 998 998 998 998 1,000 998,000 79.1 80 79.1 79.1 79.1 79.1 40,200 3,179,820 SMC PREF 2O SMC PREF 2P 72.5 74 74 74 74 74 7,780 575,720 SMC PREF 2U 74.85 76.95 76.95 76.95 76.95 76.95 120 9,234 79 79.5 79 79.5 79 79.05 110 8,711 SMC PREF 2V SMC PREF 2W 78 79 78 78 78 78 120 9,360 79.8 79.9 79.5 79.9 79.25 79.8 5,740 456,885 SMC PREF 2X TOP PREF A1 100 100.1 100 100 100 100 80 8,000 101 101.7 101.7 101.7 101.7 101.7 340 34,578 TOP PREF A2

ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.814 -0.01% 1.45% -3.84% N.A PHIL. DEPOSITARY RECEIPTS 0.49% ABS HLDG PDR 3.4 3.51 GMA HLDG PDR 4 4.05 4.12 4.12 4.05 4.05 25,000 101,880 A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, WARRANTS 2026. AGI WARRANT 1.06 1.13 1.05 1.06 1.05 1.06 4,000 4,230 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, 2025. SM A L L, M ED I U M & EM E R G IN G 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. CTS GLOBAL 0.34 0.35 0.345 0.35 0.345 0.35 100,000 34,750 HAUS TALK 1.36 1.37 1.35 1.36 1.35 1.36 1,024,000 1,390,390 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE 0.67 0.71 0.71 0.71 1,000 710 ITALPINAS 0.71 0.71 DEBT VEHICLE, INC. KEPWEALTH 1.36 1.28 1.43 1.36 1.36 1.36 10,000 13,600 0.2 0.211 0.2 0.2 580,000 119,170 0.211 0.211 XURPAS “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no

warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.

pifa.com.ph to see the latest NAVPS/NAVPU.”

EXHANGE TRADE FUNDS FIRST METRO ETF

103.8

104

40,800 -

104.8 104.8 104 104 3,340 348,264 -42,693

www.businessmirror.com.ph

Banking&Finance BusinessMirror

Trade in bonds anchored on rate hike expectations

OCAL bond yields are likely close to their peak as investors see the Bangko Sentral ng Pilipinas (BSP) nearing the end of its tightening cycle, but the market remains positioned for a pause rather than an easing, according to Manulife Investments Philippines. In a commentary, Jean Olivia De Castro, head of fixed income, said the yield curve is steepening as trading remains concentrated at the short end, anchored by the risk of another rate hike by monetary authorities. At the same time, longer-dated yields have been edging higher as investors demand a greater risk premium to compensate for uncertainties tied to inflation and foreign exchange. “In my viewpoint. this signals that yields are likely near their peak versus early in the hiking phase. However, it’s important to note that the market is not pricing a pivot or an easing cycle, just a pause from the BSP,” De Castro said. The central bank is widely expected to deliver a 25-basis-point rate hike this Thursday, with BSP Governor Eli M. Remolona Jr. signaling earlier that they can be less aggressive in monetary tightening as economic growth loses momentum. The central bank projects inflation at 3.1 percent by 2028, returning close to the target range of 2 to 4 percent, but short-term yields have started to move lower. “The front end is looking through the BSP’s long glide path and fo-

cusing on near-term catalysts,” De Castro said. With growth softening while inflation risks remain tilted to the upside, De Castro said the BSP’s priority remains keeping inflation expectations and the peso anchored. “I believe that this view can hold as long as inflation keeps surprising lower and FX/oil shocks stay contained,” De Castro said. However, it is important to note that it is fragile: with upside risks of higher oil prices, El Niño and second-round inflation effects still present.” As the BSP balances price stability with economic growth, bond investors should view this environment to continue to support shorter-dated securities because of their relatively high yields, while long-term bonds may remain choppy until inflation risks clearly ease, De Castro said. With this, investors may favor shorter-dated bonds if El Niño and elevated commodity prices cause inflation to persist for longer, she added. Shorter maturities also give investors greater flexibility to reinvest their proceeds if yields rise further, although this strategy also exposes them to reinvestment risk, she noted. “A prudent strategy is to maintain a diversified maturity profile, spreading investments across tenors and extending into longer-dated bonds only when the additional yield sufficiently compensates for the higher inflation and duration risk,” De Castro said. Reine Juvierre S. Alberto

briefs ➔ Pagcor to launch protective app THE Philippine Amusement and Gaming Corp. (Pagcor) announced it will soon launch an application that will enable online gaming players to use only licensed and regulated platforms. Speaking to members of the House Committee on Appropriations during the agency’s budget hearing on August 24, Pagcor Chairman and CEO Alejandro H. Tengco said the planned app, to be launch before the end of the year, aims to strengthen player protection amid the proliferation of illegal online gaming platforms. Tengco said the application will make it easier for players to play exclusively in authorized gaming sites that are subject to regulatory requirements and safeguards. ➔ PDIC retains certification for processes The Philippine Deposit Insurance Corp. (PDIC) announced it has maintained its ISO 9001:2015 certification for the “quality management system” (QMS) of two of its core operations following a successful surveillance audit by certifying body TÜV SÜD Management Service GmbH (TÜV SÜD). Conducted in May 2026, the first surveillance audits for the year evaluated the QMS on “claims settlement operations” (CSO) and “assessment of member banks” (AMB), the PDIC said in a statement. The audit yielded zero major or minor non-conformities, “reflecting the corporation’s robust institutional compliance and high standard of service delivery,” it added. ➔ SG firm awards Security Bank THE Security Bank Corp. announced it and subsidiary Security Bank Capital Investment Corp. (Security Bank Capital) earned three recognitions at the “Asian Banking & Finance Awards 2026,” an event organized by Singaporean firm Charlton Media Group. The lender’s retail statement read that its banking segment was awarded “Mobile Banking & Payment Initiative of the YearPhilippines” while its wholesale banking segment was awarded “Domestic Digital Transformation Bank of the Year.” Security Bank Capital also received Syndicated Loan of the Year—Philippines for the P150 billion senior term loan for Terra Solar Philippines Inc.

Editor: Dennis D. Estopace • Thursday, August 27, 2026

Non-life insurers’ income up despite high property claims

By Reine Juvierre Alberto

@reine_alberto

ON-LIFE insurance companies in the Philippines saw their combined net income surge by over two-fifths in the first half of the year, even with higher claims to cover property losses or damages, the Insurance Commission (IC) reported.

The non-life insurance industry’s net income jumped by 43.78 percent to P7.37 billion in the first six months of the year from P5.12 billion in the same period last year.

The growth came alongside the increase in both premiums and claims. Total net premiums written rose by 9.96 percent to P44.19 billion in the first half from P40.18 billion a year

ago, IC data revealed. Motor car insurance accounted for the largest share of net premiums written by line of business at P17.59 billion during the first half of the year. Total premiums earned also posted a 13.29-percent year-on-year increase, up to P42.54 billion from P37.55 billion. Meanwhile, total claims paid by non-life insurers grew by 9.48 percent to P17.51 billion from P15.99 billion a year earlier. “The non-life insurance industry maintained its growth in H1 2026, recording improvements across all key indicators and demonstrating prudent fund management and sustained business growth,” the IC said in a statement last Wednesday.

Total assets of the non-life insurance industry also surpassed the P400-billion mark in the first half, up by 6.63 percent to P405.28 billion from P380.07 billion in the same period last year. Total liabilities also grew moderately by 5.60 percent year-on-year to P253.78 billion in the first semester from P240.32 billion. The industry’s total net worth stood at P151.49 billion in the first half, 8.41 percent higher than the P139.74 billion recorded a year ago. “These positive indicators affirm the industry’s capacity to support policyholders and contribute to the continued stability and development of the non-life insurance sector,” the IC said.

Lawmakers eye new excise taxes on nicotine products By Jovee Marie N. dela Cruz @joveemarie

HE House Committee on Ways and Means is reviewing proposals to impose a unified excise tax rate on salt nicotine and freebase nicotine products as part of the government’s broader tax reform agenda aimed at advancing public health while maintaining a fair and effective taxation system. Committee Cha ir man and Marikina 2nd District Rep. Romero Federico “Miro” S. Quimbo said the proposal seeks to harmonize

the excise tax treatment of various nicotine products to address existing disparities that may influence consumer choices and create market distortions. “The objective is to establish a level playing field by applying a uniform tax rate across nicotine vapor products while ensuring that taxation remains an effective public health tool,” Quimbo said. Under the proposal, the excise tax rates on salt nicotine and freebase nicotine products would be consolidated into a single rate. The proposed policy is intended to provide a more consistent tax framework for

nicotine products while supporting the government’s long-term efforts to regulate nicotine consumption and strengthen tobacco-control measures. According to Quimbo, the proposed tax structure should carefully balance public health objectives with the need to prevent excessive taxation from encouraging consumers to shift toward illicit or unregulated products. “The rate we are studying should be high enough to discourage use, especially among the youth, but calibrated enough to avoid creating stronger incentives for illicit trade in

tobacco and vape products,” he said. Quimbo said that as deliberations continue, the committee is also evaluating the proposal’s possible effects on government revenues, public health outcomes, consumer behavior, and the illicit trade of nicotine products. He added that the proposal forms part of the government’s broader package of compensatory tax reforms designed to generate sustainable revenues, support priority government programs, and create fiscal space for targeted tax relief measures benefiting Filipino families.

Travel tax no longer reflects present realities—solon By Butch Fernandez @butchfBM

AYING the “archaic” policy behind the imposition of a travel tax—when overseas travel was viewed largely as a “privile ge”—no longer reflects present realities, Sen. Mark A. Villar is prodding his peers on the swift passage of Senate Bill (SB) 1870, or the proposed “Travel Tax Abolition Act.” The measure seeks to remove the decades-old travel tax imposed on Filipinos leaving the country. “Hindi dapat maging dagdag na pasanin ang pag-alis ng bansa, lalo na para sa mga Pilipinong bumibiyahe upang magtrabaho, mag-aral, magpagamot, magnegosyo, o makasama ang kanilang pamilya. Panahon nang alisin ang travel tax at ibalik sa ating mga kababayan ang perang maaari nilang magamit sa mas mahalagang pangangailangan,” Villar said.

[Leaving the country should not impose a burden on Filipinos, especially those traveling for work, schooling., medical treatment, do business or simply reunite with relatives. It’s time to end the travel tax requirement and allow citizens to enjoy and use the funds for more essential needs]. Introduced in 1977 under Presidential Decree 1183, the travel tax was imposed at a time when overseas travel was widely viewed as a privilege. Villar said this “archaic” policy no longer reflects present realities, as Filipino travelers currently pay a full travel tax of P1,620 for economy-class passage and P2,700 for first-class passage. A family of four traveling in economy class must therefore spend an additional P6,480 before leaving the country. “The amount of P6,480 is a big deal to a family. They can use this for food, transportation, rentals,

medicine or other expenses when they travel. Amid the steady rise in prices of goods, it’s only right that we remove taxes that pose additional burdens and don’t reflect current realities,” Villar said, speaking in Filipino. Under SB 1870, government agencies and private entities will be prohibited from collecting travel tax once the measure takes effect. Passengers who have already paid the tax for flights scheduled on or after the law’s effectivity will also be entitled to an immediate refund. The proposal likewise supports the objectives of the Asean Tourism Agreement, which seeks to facilitate travel and promote stronger connectivity among Asean member states. Allaying concerns of possible disruptions to government programs, Senator Villar noted that the bill has safeguards for the continued funding through the annual Gen-

eral Appropriations Act for projects previously supported by travel tax collections. At present, 50 percent of the collections goes to the Tourism Infrastructure and Enterprise Zone Authority for tourism development, 40 percent to the Commission on Higher Education for tourism-related educational programs, and 10 percent to the National Commission for Culture and the Arts. “We will continue to support tourism education and culture, but the funds should not come from additional burdens on traveling Filipinos. These are national programs that must be funded out of the national budget,” Villar stressed. “Our objective is simple:reduce the costs, make travel easier and allow each Filipino at bigyan ng mas malaking kalayaathe freedom to seek opportunity in any part of the world,” he added.

Allianz PNB Life eyes bancassurance Bitcoin rally stalls pending inflation data as H1 net income increases to 64% B

LLIANZ PNB Life (AZPNBL) Insurance Inc. reported a 64-percent increase in its net income in the first half of the year and is banking on bancassurance to drive customer growth. In a news briefing last Wednesday, AZPNBL President and CEO Joe Gross said the insurer also improved its ranking in terms of new business annual premium equivalent (Nbape), a key metric used to measure sales volume, placing third among local life insurance companies, up from seventh in the first half of 2025. AZPNBL posted P4.59 billion in Nbape in the first half, a 98-percent increase year-on-year, Gross said, citing data from the Insurance Commission. He added that the insurer is on track to meet or even surpass nearly all of its full-year targets

given its strong performance in the first semester. He also expects double-digit growth in net income and customer base, both this year and in the years ahead. “Our estimate is that we’re number one in bancassurance,” Gross added. “[We have] a strong bancassurance channel that is growing.” The company broadened its network of Financial Solutions Specialists (FSS), with almost 500 FSS serving more customers across PNB branches nationwide. Gross said the insurer will continue its strategy of strengthening its bancassurance partnerships to broaden its customer base. “The purpose of Allianz, globally, is to secure people’s future. You can only do that if people trust you. You have to deliver on the promise every single day to

every single customer worldwide,” he said. “It’s a volatile world. We’ve got geopolitical unrest, trade wars, real wars in Ukraine and in the Middle East. We have oil supply shortages,” Gross said. “[People] seek stability. They seek protection. And ultimately, what people will seek is trust.” German insurance giant Allianz forged a joint venture with the Philippine National Bank for a 15-year bancassurance agreement to provide the insurer with distribution channels for its products and to operate AZPNBL. AZPNBL also has an exclusive distributorship arrangement with HSBC Investment and Insurance Brokerage, Philippines Inc., offering insurance propositions to HSBC Wealth clients. Reine Juvierre S. Alberto

ITCOIN’S rally is running into resistance at the psychologically important $80,000 level as traders await key US monetary policy signals to gauge whether the past week’s gains have room to run. The largest cryptocurrency advanced 1% on Wednesday to about $79,000 as of 9:20 a.m. in London. It briefly broke through $81,000 last Tuesday before giving up gains as some investors moved to lock in profits from the biggest weekly advance in over three years. Bitcoin remains up about 22% since Treasury Secretary Scott Bessent said on August 20 that the US would “at least double” planned purchases of outstanding 10-year to 30-year debt. Yet the digital asset’s advance has stalled as investors look out for upcoming monetary policy cues, including today’s release of the latest personal consumption expenditures price index data. “The pullback came on profittaking ahead of tonight’s core PCE

inflation release” and an anticipated address by US Federal Reserve Chairman Kevin Warsh on Friday at the Jackson Hole Economic Policy Symposium, said Tony Sycamore, an analyst at IG Australia. Signs of de-escalation in the Middle East have also taken some momentum out of the rally. Sycamore said the sharp fall in oil prices and US yields suggests “further Treasury intervention may not be needed for now.” This could make it difficult for Bitcoin to break above the $80,000 to $83,000 zone. Like gold, the digital asset may have “already struck a short-term high,” Sycamore said. A sustained move higher, though, could open the door for Bitcoin to reach $95,000 to $100,000, he added. Demand for US exchange-traded funds remains a source of support. US-listed spot Bitcoin funds recorded about $314 million of net inflows on Tuesday, their fifth consecutive ses-

sion with more than $300 million, suggesting institutional appetite has held up even as the token retreated from its latest high. Signals beneath the surface remain mixed. Relative strength index “readings across several major tokens point to overbought conditions, suggesting near-term consolidation is plausible rather than an uninterrupted run higher,” said Rachael Lucas, an analyst at BTC Markets. Nicolai Søndergaard, a senior research analyst at Nansen, described Bitcoin as in a “late-stage bottoming process.” Along with improved ETF flows, selling pressure has eased and large token holders have resumed selective accumulation. However, data still show weak US spot demand, he said. A combination of sustained ETF flows, stronger spot-led trading volumes and a positive Coinbase premium would point toward a more durable advance, Søndergaard said. Bloomberg

Editor: Jennifer A. Ng • www.businessmirror.com.ph

Thursday, August 27, 2026

NFA may offer rice stocks via negotiated sale

By Ada Pelonia

and all are fit for human consumption.” The rebidding of aging rice last August 12 follows the unsuccessful June 30 auction, which Lacson also attributed to limited interest caused by what he described as “relatively” high floor prices.

@adapelonia

HE National Food Authority (NFA) is planning to dispose of P1 billion worth of aging rice stocks through a negotiated sale after it failed to unload all the volume it offered in a recent auction. NFA Administrator Larry Lacson confirmed to the BusinessMirror that the grains agency awarded only 42,843 50kilo bags or 2,142 metric tons (MT) of aging rice out of the 741,570 bags or 37,078 MT it put up for auction last August 12. With this, he said the food agency is keen on a negotiated sale for the remaining 698,727 bags or 34,936 MT to hasten disposal. The volume is expected to fetch P1.052 billion.

‘The objective is to flush out old stocks as fast as possible to clear warehouse space for the incoming harvest season,” Lacson told this newspaper. “But if the (negotiated sale) still fails, we’ll hold another auction.” He noted that there was tepid interest for the recent auction as bidders found the aging rice stocks “expensive.” The floor prices set by the NFA ranged from P26.97 to P29.51 per kilo based on

Buying price

THIS BusinessMirror file photo shows consumers lining up to buy National Food Authority (NFA) rice priced at P20 per kilo at the Las Piñas Public Market. NONIE REYES

the grains’ storage duration, covering milled rice stocks aged six to over 18 months. Lacson allayed concerns about the possibility of spoilage,

considering that some stocks have been stored for more than a year. “We always monitor the quality [of the aging rice],

THE Department of Agriculture (DA) announced ahead of the wet season harvest that the NFA will increase its minimum buying price for wet palay to P21 from the previous P17 per kilo. Agriculture Secretary Francisco Tiu Laurel Jr., who chairs the NFA council, said this would help farmers cope with higher production costs brought by the surge inputs costs—such as fuel and fertilizer—due to the Middle East war. Furthermore, the DA chief also announced that imported rice shipments will not be

allowed to unload at ports in Iloilo from mid-September until the end-November to avoid overlapping with the province’s peak harvest season. The dual measures will enhance farmers’ bargaining position by boosting the NFA’s influence on palay prices while easing competitive pressure from imported shipments. The NFA announced last April that it purchased 8.4 million 50kilo bags or 420,012 MT of palay last year, a 5.32 percent drop from the 8.87 million bags or 443,620 MT it bought in 2024. The 2025 was only 77 percent of its target of purchasing 545,000 MT from local planters. “Procurement fell short of the total target attainment due to operational limitations, particularly full warehouse capacity and limited storage space arising from ongoing warehouse repair and rehabilitation activities,” it said.

‘Unlocking horticulture’s potential Animal disease outbreaks to make eggs costlier–group key to delivering healthy diets’

GRICULTURE must move beyond a primary focus on producing sufficient quantities of food and place greater emphasis on providing the diverse and nutritious foods needed for healthy diets, according to Food and Agriculture Organization (FAO) Director-General Qu Dongyu said. “Success can no longer be measured simply by how much food we produce. It must also be measured by whether agriculture provides the foods that healthy societies require, and whether those foods are available, accessible and affordable for everyone,” he told the International Horticultural Congress 2026 in Kyoto last Monday, pointing to the role of fruits, vegetables and other horticultural crops in healthy diets, biodiversity, climate resilience and livelihoods. Between 2010 and 2024, fruit and vegetable production grew faster than cereals, and horticulture now makes up almost a quarter of global agricultural production value—about $1.4 trillion. Exports grew roughly 2.6 percent annually over the period, reaching 175 million tonnes worth $240 billion by 2024. But, despite the economic success, this hasn’t translated into healthier diets, the director-general told the audience of scientists, policymakers, business representatives and producers. The director-general identified productivity, availability and affordability as three interconnected challenges to unlocking horticulture’s full nutrition potential. Yields have grown less than one percent annually, lagging behind cereals amid underinvestment in research, genetics and infrastructure underlining the problem of productivity. When it comes to availability, FAO’s latest analysis shows that in 2023, only about half of countries produce enough fruits and vegetables to meet the FAO/WHO target of 400g per person daily. Average consumption is considerably lower, at an estimated 80 grams of fruit and 190 grams of vegetables per person per day globally. In terms of affordability, producer prices rose between 2016 and 2025 in 89 percent of countries for fruits and 93 percent for vegetables, with median annual increases of approximately 4.2 percent and 4.7 percent, respectively Current trends point to significant gaps ahead. By 2050, projections suggest that fewer than one-third of countries in subSaharan Africa will have sufficient fruit and vegetable supplies to meet the joint FAO/WHO recommendation. With land and water resources increasingly constrained and climate change intensifying pressure through rising temperatures, water scarcity, extreme weather, pests and diseases, the director-general called for investment in improved seed and planting material, healthier soils, efficient irrigation, mechanization and digital technologies, extension services, post-harvest systems and stronger links between producers and markets.

ARMERS and suppliers belonging to Philippine Egg Board Association (PEBA) warned that egg retail prices may rise as farmgate prices are higher now due to disease outbreaks. PEBA President Francis Uyehara said the local layer industry is currently grappling with production issues which catapulted farmgate prices to as much as P7 apiece. This followed a supply glut in the second quarter when farmgate prices of a mediumsized egg nosedived to P3 per piece. Uyehara attributed the price increase to disease outbreaks, such as infectious laryngotracheitis (ILT), inclusion body hepatitis (IBH), and low

pathogenic avian influenza (LPAI). “These three diseases are contributing to the deficiency in production that is now causing an artificial shortage and an increase in the farmgate prices of eggs,” he told reporters on the sidelines of a poultry trade fair in Pasay City on Wednesday. Should the upward trajectory in farmgate prices persist, Uyehara warned that this would trickle into retail costs ahead of the typical price hike in December due to the surge in demand. “If farmgate prices continue to increase, the retail price will also be forced to adjust to perhaps more than P9 per piece.” Uyehara, however, said the

industry is also struggling to address the outbreaks, which was further compounded by issues in licensing of vaccines. “We can’t control these diseases, even with highly specialized veterinarian consultants. They don’t have a conviction that they can address these current outbreaks, since these viruses can mutate,” he said. “There are also issues with the licensing of appropriate vaccines. The registration of the vaccines we need against these diseases takes too long.” Latest government price monitoring report showed the prevailing price of extra small and small eggs stood at P7 per piece, with medium eggs at P8

per piece. Large and extra-large eggs cost P9 per piece, with jumbo eggs sold at P10 per piece. PEBA said last May that local layer industry players are culling their flock due to a glut in the supply of small-sized eggs to minimize losses as farmgate prices fell despite soaring input costs due to geopolitical tensions. Uyehara told the BusinessMirror that the global oil crisis has jacked up prices of animal feeds and other products required by raisers for their operations. Heat stress and lackluster demand created a surplus of smaller-sized eggs or those that belong in the extra small, small, and medium categories, he added. Ada Pelonia

DA allots ₧600M for veggie facilities in Benguet

HE Department of Agriculture (DA) has earmarked P600 million in 2027 to bankroll the construction of facilities in Benguet that will address the persistent problem of vegetable supply glut. Agriculture Secretary Francisco Tiu Laurel Jr. told the BusinessMirror that the DA has allocated an initial amount of P600 million under its 2027 National Expenditures Program (NEP) to build a mega cold storage and vegetable processing facilities beside the Benguet Agri Pinoy Trading Center. “It’s one complex. Hopefully, it will be operational by 2028,” the DA chief told this newspaper.

The recent successive typhoons and torrential downpours in Benguet resulted in Chinese cabbage and carrots being discarded along LabeyLacamen Road in Tublay, Benguet. For the DA chief, the availability of these facilities are crucial to address the problem of oversupply. “What happened in Benguet this year may also be called force majeure, with excessive rain hobbling the supply chain,” he said. “Our long-term solution is mega cold storage and vegetable processing facilities.” In the meantime, the DA has ramped up its efforts to prevent supply gluts that result in depressed prices, including

the enhancement of its market early-warning system. The initiative aims to solve the long-standing problem for vegetables, where seasonal harvest surges tend to overwhelm markets. As such, the DA said persistent oversupply has forced farmers to dump unsold vegetables along waysides rather than shoulder transport costs, since these may not fetch enough to cover expenses. Agriculture Assistant Secretary Genevieve VelicariaGuevarra said the system would complement regional help desks by providing a clearer picture of what is happening on the ground. “We want to move from

reacting to problems to anticipating them,” Guevarra said. “The monitoring system will give us alerts on upcoming harvests, weather disturbances, and other developments that could affect the supply chain to help us trigger assistance earlier.” She added that regular harvest projections would improve planning, while more transparent and timely farmgate price monitoring could help curb market abuses by middlemen. The system would also trigger alerts for logistics and other assistance, which the DA said would allow the government to respond more quickly to emerging supply and market disruptions. Ada Pelonia

India rice exporters see Iran demand defying sanctions risk

NDIA, the world’s biggest rice exporter, is confident sales to Iran can weather the threat of tougher US sanctions, with shipments holding up despite higher prices and months of wartime disruption. Rice dominates trade between the two countries, accounting for nearly two-thirds of India’s $1.25 billion in exports to Iran in the fiscal year-ended March, government data show. Iran, in turn, bought about 7 percent of India’s $11.5 billion in global rice exports.

Demand from Iran has held up despite higher prices and months of war-driven trade disruption as the country has been purchasing for “food security reasons,” according to Ajay Bhalothia, general secretary of the All India Rice Exporters Association. Bhalothia expressed confidence the trade will continue uninterrupted even as US President Donald Trump’s administration on Monday unveiled sanctions against more than 60 entities, and threatened

economic punishment against any country doing business with Iran. The essential nature of the staple, which falls under humanitarian exception, as well as limited alternative suppliers should help sustain the trade, exporters say. Rice is a staple on the Iranian table, from chelow, the f luffy steamed rice served alongside kebabs and stews, to tahdig, the prized crispy crust formed at the bottom of the pot. Iran purchased over 1 million

tons of rice last financial year, up 17% from a year ago, government data shows. The jump reflects how Indian exporters have kept shipments and payments moving through in recent period, giving both sides an incentive to preserve the trade. Bhalothia said that Indian traders have found ways to settle payments for trade with Iran through financial channels in the UAE, Germany and China, and more recently Turkey, rather than transacting directly with

Iranian banks. Those channels have continued to operate without disruption so far, he added. Other key Indian shipments to Iran include pharmaceuticals, tea, bananas, cereals, bovine meat and some chemicals. Even these are unlikely to be disrupted, exporters say, citing humanitarian exception and limited alternatives. Meanwhile, India hasn’t imported any crude from Iran since 2019, except for a small window that opened up this

year due to US waivers. Before the US sanctions on Iran, India had longstanding ties with the nation, with Tehran among its biggest oil suppliers. “Indian exports to Iran shouldn’t get impacted,” said S.C. Ralhan, President of Federation of Indian Export Organizations. While exports to Iran aren’t substantial, he added that “the government should immediately intervene on humanitarian grounds with some arrangement to help exporters.” Bloomberg News

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ARTA, JCCIPI to strengthen ease of doing business and boost investor confidence

UNDERSECRETARY Lea-Grace B. Salcedo (from left), Undersecretary Juabilly P. Racho, Secretary Ernesto V. Perez (ARTA), President Shigeru Shimoda (JCCIPI), Ambassador Kazuya Endo (Japan), and Vice President Kazuhiro Nomura (JCCIPI)

HE Anti-Red Tape Authority (ARTA) and the Japanese Chamber of Commerce and Industry of the Philippines Inc. (JCCIPI) forged a deal to strengthen the country’s business environment further and reinforce investor confidence.

ARTA and JCCIPI signed a memorandum of understanding (MOU) at the Embassy of Japan in the Philippines. The partnership formalizes closer linkages between the national government and the Japanese business community to advance regulatory reforms, improve government service delivery, and support the effective implementation of Republic Act 11032, or the “Ease of Doing Business and Efficient Government

Service Delivery Act of 2018.” Under the MOU, JCCIPI and its nearly 700 member companies and affiliated organizations nationwide will serve as ARTA champions, working alongside the agency to identify regulatory bottlenecks, report red tape and fixing activities, participate in policy consultations, and promote awareness of ease of doing business initiatives within the Japanese business community.

In turn, ARTA will craft capacitybuilding programs, endorse and resolve complaints involving violations of RA 11032, and seek JCCIPI’s recommendations in improving government regulations, systems, and procedures.

Reforms and benefits JCCIPI President Shigeru Shimoda and Secretary Ernesto V. Perez, who serves as ARTA director general, signed the agreement. Ambassador of Japan Kazuya Endo; JCCIPI vice president Kazuhiro Nomura; Undersecretary Juabilly P. Racho, who is ARTA’s deputy director general for Regional Field Operations; and Undersecretary Lea-Grace Salcedo, who is the agency’s deputy director general for Operations, witnessed the signing. In his remarks, Shimoda emphasized that regulatory efficiency remains a key factor in attracting investments and enabling businesses to grow. He reaffirmed JCCIPI’s commitment to working closely with the Philippine

government to create a more transparent, efficient, and globally competitive business environment, then expressed confidence that the strengthened partnership with ARTA would lead to meaningful reforms and tangible benefits for both Japanese investors and the Philippine economy. For his part, Perez underscored ARTA’s commitment to simplifying government processes and highlighted the importance of sustained privatesector engagement in shaping practical and responsive regulatory reforms. Representing the Japanese government, Endo welcomed the strengthened collaboration between ARTA and JCCIPI, noting that initiatives that enhance regulatory efficiency contribute to a stronger investment climate and further deepen the longstanding economic partnership between Japan and the Philippines.

Shared commitment JAPAN remains one of the Philippines’ largest sources of foreign direct investment, trade, and development cooperation. The MOU signing reflects ARTA and JCCIPI’s shared commitment to fostering a more predictable, transparent, and efficient regulatory environment that supports business growth, encourages greater investment, and enhances the Philippines’ competitiveness as an investment hub. As one of the country’s largest foreign business organizations, JCCIPI continues to work closely with the Philippine government and its stakeholders to advocate policies that promote sustainable economic growth, facilitate trade and investment, and strengthen the enduring economic partnership between Japan and the Philippines.

UAE updates visa-on-arrival rules for Filipinos By Malou Talosig-Bartolome

HE United A rab Emirates (UAE) has recently updated its visa-on-arrival eligibility rules for Philippine passport holders. According to the Department of Foreign Affairs (DFA), Filipinos holding permanent residency permits from Japan, Australia, Canada, South Korea, Singapore, or New Zealand are eligible for a visa on arrival at UAE entry points. Those with valid visas from those six countries no longer qualify and must ask their sponsors to apply for their visas beforehand via official channels of the UAE Federal Authority for Identity, Citizenship, Customs & Port Security: https://smartservices. icp.gov.ae/echannels/web/client/de-

fault.html#/login However, Philippine passport holders with valid visas or permanent residency in the United States, United Kingdom, or any of the 27 European Union member states retain their visa-on-arrival privileges. The DFA issued the advisory following inquiries from Filipino travelers who were advised by staff at Etihad, Emirates, Philippine Airlines, and Cebu Pacific that regular visa holders from Japan, Australia, Canada, South Korea, Singapore, New Zealand, the US, the UK, and the EU are no longer eligible for entry on arrival. (Related story on BusinessMirror, June 25, 2026: “Visa upon arrival for Filipinos going to UAE: Read before you proceed…”) A check on the Etihad and Emir-

ates websites indicates that travelers from the Philippines, Thailand, Indonesia, Vietnam, and Kenya are eligible for a UAE visa on arrival only if they hold permanent residency in Japan, Australia, Canada, the EU, South Korea, Singapore, New Zealand, the UK, and the US. The official airline portals state that only Indian tourists with valid EU, UK, or US visas can obtain a visa on arrival at UAE airports. BusinessMirror has reached out to the DFA and the UAE Embassy in Manila for clarification on the date the amended rules take effect. According to a DFA press release, eligible Philippine passport holders must ensure their passports, qualifying visas, and residence permits are

valid for at least six months from the application date. Travelers can choose between two entry options: a 14-day visa for AED100 (P1,682), extendable for 14 days for AED250 (P4,206), or a non-extendable 60-day visa for AED250 (P4,206). Visas on arrival can be requested directly at UAE airports, or online (https://smartservices.icp.gov.ae/echannels/web/client/default.html#/login) via the ICP Smart Services portal. Applications submitted there incur an additional processing fee of AED150 per request. “The issuance of a visa upon arrival and entry into the UAE remain subject to the assessment and approval of relevant immigration authorities,” the DFA noted.

THE ambassador (center) and LGU officials in Aklan

India delivers training hall in Aklan under Quick Impact Projects scheme

MBASSADOR of India to the Philippines Shri Harsh Kumar Jain handed over a newly constructed working and training hall to the local government of Barangay Aliputos, Municipality of Numancia, Aklan. Municipal Mayor Rogelio M. Enero II formally received the hall at a ceremony on August 10, with Governor Jose Enrique M. Miraflores of Aklan, Assistant Secretary Francisco R. Cruz, CESO III, MMG of the Department of the Interior and Local Government, representatives from the agency and community, as well as barangay leaders, in attendance. Expressing their appreciation to the Indian government for the project and its contribution to Numancia’s development, they welcomed the facility’s potential to boost skills, livelihoods, and the municipality’s agritourism initiatives. They thanked India for its continued communityfocused development partnership with the Philippines. T he project was implemented under the India-Philippines Quick Impact Projects framework, which supports community-level initiatives for socioeconomic development. It is the fourth of six projects under the first cycle of QIPs being implemented through Indian Grant Assistance under the bilateral “Agreement on the Implementation of Quick Impact Projects” signed in February 2023. The facility forms part of Numancia’s efforts to strengthen its agritourism sector, providing a venue for

skills development, training, meetings and community activities. The facility is expected to benefit some 5,500 farmers and fisherfolk. Ambassador Jain highlighted in his speech that the project reflects the enduring friendship and Strategic Partnership between India and the Philippines, founded on mutual respect, close cooperation and a shared commitment to inclusive and sustainable development. The project joins three other QIPs completed earlier this year: a livelihood training center in Bobon, Northern Samar; a primary care hub in Bacolod, Lanao del Norte; and a barangay health station in Cervantes, Ilocos Sur. They reflect India’s commitment to the Philippines’ regional grassroots development, its embassy said. Jain also welcomed the resolution adopted by the Numancia LGU declaring August 10 as “NumanciaIndia Friendship Day.” He expressed his deep appreciation, noting that the initiative symbolizes the warmth and enduring bonds of friendship between the LGUs’ residents and his country. The QIP initiative is aligned with the Plan of Action for the India-Philippines’ Strategic Partnership for 2025– 2029 signed during President Ferdinand R. Marcos Jr.’s state visit to India in August 2025. India looks forward to further strengthening its development partnership through the next cycle of 10 QIPs, currently under consideration by the two sides.

Embassy in Helsinki marks Philippine Music Week 2026

U. States funds new community reporting hub vs. illegal fishing

UERTO PRINCESA CITY—The United States Embassy’s Fish Right Project has inaugurated the Community Illegal, Unreported, and Unregulated (IUU) Fishing Reporting Center together with the Palawan Council for Sustainable Development. T he new faci lit y streng t hens Philippine-led efforts to combat IUU fishing—a shared economic and security threat for both the US and the Philippines. Building on the Palawan Council for Sustainable Development’s coordination mechanisms with local and national agencies, “Fish Right” will integrate American technologies, such as Starlink and data visualization software EarthRanger, to strengthen connectivity, improve the collection and organization of community reports, and support timely information-sharing with Philippine authorities. The center will serve as a community hub for receiving and organizing real-time reports from fishermen on suspected IUU fishing, unusual vessel activity, and other illegal maritime ac-

US and Philippine officials tour the new Community Illegal, Unreported, and Unregulated Fishing Reporting Center. tivities. With support from the Bureau of Fisheries and Aquatic Resources, the National Maritime Center, and the provincial government of Palawan, the center will forward reports to appropriate Philippine government agencies for validation, follow-up action, and feedback to local fishing communities. “Illegal, unreported, and unregulated fishing is both an economic and a national security challenge,” said US Embassy Officer Taylor Fincher. “It

depletes fish stocks, disrupts supply chains, distorts markets, threatens food security, and places responsible fishers and legitimate businesses at a disadvantage. Addressing illegal fishing and related maritime concerns is an important area of cooperation between [both countries].” “By providing fisherfolk with a safe and accessible way to report suspected illegal fishing and other unlawful maritime activities, this Community IUU Fishing Reporting Center empow-

ers coastal communities to become active partners in protecting our fisheries,” said Undersecretary for Fisheries Drusila Esther Bayate of the Department of Agriculture. The launch of the Community IUU Fishing Reporting Center coincides with the 80th anniversary of U.S.Philippines diplomatic relations and the two countries’ 75th anniversary of their Mutual Defense Treaty, underscoring the two nations’ enduring partnership in upholding international law, promoting lawful activity at sea, and advancing a free and open Indo-Pacific. The Fish Right Project supports Philippine-led efforts to address illegal, unreported, and unregulated fishing in the Philippine exclusive economic zone bordering the South China Sea. It strengthens community reporting by connecting fisherfolks’ observations with Philippine government systems, supports marine scientific research to inform decisionmaking, and promotes better market access for safe, legal, and sustainably sourced seafood.

AMBASSADOR Domingo P. Nolasco and Mrs. Cecilia Nolasco (second and third from right) join the members of the audience as they dance to the OPM classics. IANNE HERNANDEZ/DFA

HE Philippine Embassy in Helsinki held a public concert to celebrate Linggo ng Musikang Pilipino (Philippine Music Week) 2026 at the Esplanade Park in the Finnish capital city. In his welcome remarks, Ambassador Domingo P. Nolasco highlighted the important role of music in Filipino culture and identity. He noted that music is deeply ingrained in Filipino life, then introduced Original Pilipino Music (OPM) to the audience. The event featured Filipino artists based in Finland who performed a selection of OPM songs spanning several decades, from classic to contemporary hits. Held at the historic and popular Esplanade Park, the event brought Philippine music and culture to one

of Helsinki’s most prominent public spaces. Filipino community members, as well as Finnish and multicultural audiences—including tourists in the nearby South Harbor and Market Square—attended the free concert. It was also livestreamed on the embassy’s Facebook page, which allowed those unable to attend in person, particularly the families and friends of the performers in the Philippines, to join the celebration online. The event is part of the Philippine Embassy’s cultural diplomacy program, which includes efforts to promote Filipino music and culture in Finland. The embassy also extends its appreciation to the performers, members of the Filipino community, and all who contributed to the event’s success.

Thursday, August 27, 2026

NUSTAR Dragon Boat Regatta unites athletes, communities for its 2nd year

USTAR Resort Cebu officially announced the return of the NUSTAR Dragon Boat Regatta 2026, bringing the dragon boat community back to Cebu for its second year from September 18 to 20, 2026. Unveiled during a press conference held at the NUSTAR Ballroom, this year’s regatta builds on the momentum of its inaugural staging and is expected to bring together racing teams and athletes, sports enthusiasts, partners, and supporters for three days of competition, camaraderie, and celebration. Official races will take place on September 19 and 20 at the NUSTAR Boardwalk, where teams will compete along a 200-meter straight course in 7 race categories. Local and international teams are welcome to participate, regardless of federation affiliation. Among the VIPs present at the press conference were representatives from the Philippine Sports Commission (PSC), Cebu City Government, Department of Tourism Region VII (DOT-7), Philippine Dragon Boat Federation (PDBF), and Philippine Accessible Disability Services, Inc. (PADS). They were joined by NUSTAR executives, brand partners, and members of the media. “Last year’s inaugural regatta was more than a sporting event. It was a celebration of teamwork, diversity, and community,” said Sean Knights, Chief Operating Officer of NUSTAR Resort Cebu. “This year, we are building on that momentum as we welcome the dragon boat community back for an even bigger and more exciting event. Through this regatta, we also hope to contribute to Cebu’s continued growth as a premier destination for sports tourism and with the support of the Local Government of Cebu, the Department of Tourism, and the Philippine Sports Commission – we are certain that we are heading towards the right direction.” The competition will feature seven racing categories: Premier Open Standard Boat DB22, Premier Mixed Standard Boat DB22, Premier Women Small Boat DB12,

NUSTAR executives together with representatives from the Cebu City Government, Department of Tourism Region VII (DOT VII), Philippine Sports Commission (PSC), Philippine Dragon Boat Federation (PDBF), and Philippine Accessible Disability Services (PADS) during the NUSTAR Dragon Boat Regatta 2026 press conference held on July 29, 2026, at the NUSTAR Ballroom. Premier Open Small Boat Corporate DB12, Senior-A Open Small Boat DB12, 24U Open Small Boat DB12, and Para-Dragon 1 Open Small Boat DB12. For this year, NUSTAR will be working with the Philippine Dragon Boat Federation (PDBF) for the technical race management and operations and the Philippine Accessible Disability Services, Inc., (PADS) for event and team participants’ handling. “Our partnership with NUSTAR is a testament to what can be achieved when world-class hospitality and a purpose-driven organization come together. Together, we are elevating the NUSTAR Dragon Boat Regatta into a premier international sporting event that drives sports tourism while championing the power of inclusion. By placing adaptive athletes on the same stage as elite competitors, we are proving that true excellence is measured not only by performance, but by the opportunities we create for everyone. Together, we are building a legacy where sport unites communities, breaks barriers, and inspires the world”, said JP Maunes, Founder of Philippine Accessible Disability Service (PADS). Beyond the competition, the regatta forms part of NUSTAR’s broader vision of supporting Cebu’s position as a destination for major sporting events. By drawing athletes and visitors to the city, the event

also creates opportunities for tourism, local businesses, community engagement, and long-term partnerships. “This is a monumental event not just for NUSTAR, as the integrator of the private sector and national and local government units and agencies, but also for Cebu, as we continue to aspire to be a premier and iconic sports tourism destination,” said Katrina Mae de Jesus, Vice President for Business Development of NUSTAR Resort Cebu. The regular registration rate is P2,000 per participant for domestic teams and USD 50 per participant for international teams. Discounted rates of P1,600 for senior citizens and persons with disabilities and P1,000 for students are also available. Registered participants may also avail themselves of special accommodation packages at Fili Hotel Cebu and NUSTAR Hotel Cebu for stays from September 18 to 21, 2026. Packages include two nights’ accommodation, applicable participation fees, daily breakfast for up to two guests, and complimentary airport shuttle service. The NUSTAR Dragon Boat Regatta is supported by the Department of Tourism, Local Government Unit of Cebu City, For more information, visit the NUSTAR Dragon Boat Regatta 2026 official Facebook page or www.nustar.ph or call (032) 888 8282.

Global Prayer Assembly for Peace unites PHL media leaders across faith

EDIA professionals and communicators from different faith backgrounds came together in prayer during the Global Prayer Assembly for Peace (GPAP) on August 13, 2026, highlighting the media’s important role in promoting truth, understanding, human rights, and peace amid conflicts and social divisions. The weekly interfaith gathering, which brings together people from different faiths and sectors to pray for peace, was led this week by members of the media community. Aida Gonzales, Program Host of DZME Radyo TV and COMPASS Media, opened the program with a message of support. “As members of the media, we have a crucial role in times of conflict and crisis. Often, journalists and media workers are among the first to witness and report what is happening on the ground — wars, violence, displacement, discrimination, and other situations that affect communities,” Gonzales said. She emphasized that the media’s responsibility extends beyond reporting conflict, noting that “media can also become a bridge for peace through responsible storytelling”. The interfaith prayers were led by Tu Alfonso, Chairman

of Bangsamoro Multimedia Network, Inc., representing the Muslim community; Martin Racza of the University of the Philippines Manila and the Knights of Columbus, representing the Roman Catholic community; and Pastor Manny Tabingo, Program Host of “Beyond Sundays” at BIG 101.5 FM, representing the Christian and Protestant community. Alfonso prayed for the protection of media workers, and for “their work to help promote understanding, peace, reconciliation and unity among our communities.” He also prayed for communities affected by the typhoon, and those involved in relief and rescue efforts. “Oh Allah, bring peace where there is conflict, truth where there is confusion, justice where there is injustice and compassion where there is suffering.” Following him, Racza prayed for media workers that they “may be protected as they report on events in areas with or without conflict, and that they will always put truth over lies and propagate the seeds of peace instead of fanning the flames of war.” The prayers also included an appeal for the health, wellbeing, and safe release of 95-year-old Chairman Lee Man-hee, who is currently detained in South Korea while awaiting trial. “We pray for the good health, well-being, and the safe release of Chairman Lee Man-hee, a man of peace, and that he be accorded due process, and with the utmost respect for his rights, not just as a human, but as someone who nurtures peace in this world,” Racza said. The prayer echoed concerns raised during an international press conference held on August 7 at the Seoul Foreign Correspondents’ Club in South Korea, where human rights and religious freedom experts called for greater attention to due process, proportionality, and humanitarian considerations in cases involving religious minorities and elderly religious leaders. The conference, organized by Human Rights Without Frontiers with the participation of CAP Liberté de Conscience, Forum for Religious Freedom Europe, the Center for Studies on New Religions, and Bitter Winter, raised particular concern over Chairman Lee’s continued detention and emphasized the importance of the protection of freedom of religion or belief and freedom of expression. The GPAP continues to provide a weekly platform for people from different faiths and sectors to come together in prayer and solidarity. GPAP is held every Thursday at 8:00 PM (Philippine Time) and is open to individuals from all faiths and communities who wish to pray and work together for peace. Registration Link: https://forms.gle/t6vBgrmmWtjP4dDbA.

ESE Auto Parts Enterprises Inc.: Built in Eastern Visayas, growing for the Visayas

HAT started as a small automotive parts business in Ormoc City in 1992 has grown into an established name in the automotive and motorcycle industry in Eastern Visayas. At the heart of that growth is ESE Auto Parts Enterprises Inc., the main business behind a growing network of retail, service, and distribution operations built to serve different needs of the market. Today, that network includes Bikerbay in Ormoc City, a one-stop shop for motorcycle riders and customers; ESE Auto Moto in Tacloban City, its one-stop automotive and motorcycle retail and service destination; and ESE United Parts, the company’s distribution arm covering Regions 7 and 8. Together, they represent one ESE network with a shared purpose: to make quality automotive and motorcycle products more accessible to dealers, businesses, and everyday customers. Over the years, ESE has built a strong foothold in Eastern Visayas through relationships with dealers and customers, supported by its sales force, logistics fleet, fulfillment centers, warehousing, and technology-driven operations. Its network now reaches eight provinces and 167 municipalities and cities, with more than 550 B2C dealers and 100+ B2B customers. Through ESE United Parts, the company continues to strengthen its distribution footprint across Regions 7 and 8. Part of this growing portfolio is Gumande Tires, with ESE serving as its Regional Distributor for Regions 7 and 8 bringing the brand closer to more motorcycle dealers, shops, and riders throughout Central and Eastern Visayas. But ESE sees this as only the beginning. From its strong base in Eastern Visayas, the company’s vision is to eventually build a wider and stronger presence across the whole Visayas region.

Not simply by reaching more places, but by becoming the kind of partner, dealers and businesses can depend on as they grow. ESE also believes that growth should create opportunities for people. This is reflected in its ongoing partnership with the Department of Labor and Employment (DOLE) through JobStart Philippines, a program that helps prepare young Filipinos for employment through career coaching, life-skills development, technical training, and workplace internships. Through the program, young participants are given an opportunity to experience an actual working environment, develop practical skills, and better prepare themselves for employment. For ESE, it is more than a manpower program. It is a chance to help young people take their first meaningful step into the workforce and hopefully build careers of their own. ESE Auto Parts Enterprises Inc. at its core. Bikerbay serving Ormoc. ESE Auto Moto serving Tacloban. ESE United Parts connecting Regions 7 and 8. One growing organization, with a bigger vision ahead: To bring ESE’s products, service, partnerships, and opportunities to more communities across the Visayas.

Sun Life launches “Go Win with My Sun Life PH”campaign to empower clients through digital financial management

OMMITTED to empowering more Clients through digital financial management, Sun Life Philippines has launched “Go Win with My Sun Life PH,” an exciting promo makes usage of the My Sun Life PH App rewarding in more ways than one. Running until September 30, 2026, the promo invites eligible policyholders of Clients of Sun Life of Canada (Philippines), Inc. and investors of Sun Life Asset Management Company, Inc. to register on the My Sun Life PH App or Client Portal, unlocking both valuable rewards and seamless control over their financial journey. In today’s fast-paced world, managing finances shouldn’t be complicated. The My Sun Life PH App puts the power directly in clients’ hands, enabling them to: Update personal information and contact details instantly Make payments conveniently from anywhere, anytime

File insurance claims quickly and efficiently Access their policy information 24/7 Stay connected to their financial journey with ease “Financial empowerment begins with access and convenience,” says Carla Gonzalez-Chong, Chief Client Experience and Marketing Officer of Sun Life Philippines. “We’re committed to making it easier for our clients to manage their policies and mutual fund accounts, stay informed, and take proactive steps toward their financial goals.” Every client who registers during the promo period receives a raffle entry for a chance to win: Monthly Draws: Five winners per month of P10,000 Giftaway eGCs (July, August, September) Grand Prize Draw: Three winners of iPhone 17 (for all non-monthly winning entries) “Digital transformation in financial services is no longer optional, it’s essential,” Gonzalez-Chong emphasized, highlighting the gains clients get by transitioning to appbased management, including: Access: Near real-time updates and information at their fingertips Security: Protected transactions and encrypted personal data Efficiency: Reduced paperwork and processing times Empowerment: Make informed decisions about their financial well-being Clients are invited to register today and experience the freedom and control that comes with use of the My Sun Life PH App, plus the chance to win amazing rewards. Winners will be announced on the Sun Life Philippines Facebook page (www.facebook.com/sunlifeph) and will also be informed via email. For more information about the “Go Win with My Sun Life PH” promo, visit www.sunlife.co/GoWinWithMySunLifePH or contact Sun Life via sunlink@sunlife.com.

The legend continues as Engelbert Humperdinck brings The Celebration Tour 2026 to Manila

USIC lovers are in for an unforgettable evening as Engelbert Humperdinck returns to the Philippines for The Legend Continues... Engelbert Humperdinck The Celebration Tour 2026, taking place on September 25, 2026, at 8 pm at the New Frontier Theater in Araneta City. The highly anticipated concert gives Filipino fans the chance to experience one of the world’s most enduring and beloved performers live on stage. For over six decades, Humperdinck has captivated audiences across generations with his signature voice, heartfelt performances, and timeless repertoire. With over 150 million records sold worldwide, he remains one of the most recognizable figures in popular music and continues to draw audiences around the globe. His remarkable career is marked by an impressive collection of classic hits that have stood the test of time. Songs such as Release Me, Am I That Easy to Forget, Quando Quando Quando, A Man Without Love, The Last Waltz, and Spanish Eyes have become cherished favorites for listeners everywhere, earning Humperdinck a lasting place in music history. Audiences attending The Celebration Tour can expect an evening that honors Humperdinck’s extraordinary legacy while showcasing the artistry that continues to define his career. The concert will feature beloved classics alongside selections connected to his recent studio work, including music from All About Love, which revisits treasured songs from the Great American Songbook. Humperdinck has also expressed his fondness for performing in Asia, sharing his appreciation for the warmth and enthusiasm of audiences across the region and his excitement to return to the Philippines this September. Presented as a celebration of a career that has inspired generations of fans, The Legend Continues... Engelbert

Humperdinck The Celebration Tour 2026 promises an evening filled with nostalgia, romance, and the timeless music that has made him a global icon. The Legend Continues... Engelbert Humperdinck The Celebration Tour 2026 takes place on September 25, 2026, at the New Frontier Theater in Araneta City. Tickets are available through TicketNet.

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Parentlife BusinessMirror

Editor: Gerard S. Ramos • Thursday, August 27, 2026

Parenting teens in a world of links, feeds and social media LEARNED a lot from TikTok’s #ThinkTwice Troop Townhall Experts and personalities: Sheila Estabillo, program nanager, Plan International Pilipinas; Amihan Abueva, regional executive director, Child Rights Coalition Asia; Dr. Francis Dimalanta, developmental and behavioral pediatrician; and Kuya Kim Atienza, veteran television host, educator, and parent creator; Bea Bautista, Tiktok communications lead for the Philippines, Thailand, and Malaysia; and Usec Angelo Tapales of the Council for the Welfare of Children

AVING children who are 20 and 17 now, I am continuously learning that parenting teenagers involves learning when to hold on and when to let go. Today, that independence unfolds in a digital world that changes faster than most parents can follow. At the recent TikTok #ThinkTwice Troop Townhall I attended, one message stayed with me: Our job as parents is not to know everything our teens know, but to keep the relationship strong enough that they still want us beside them as they navigate it. Kuya Kim Atienza, veteran television host, educator and parent creator, captured this generational reality simply: “Teens nowadays are different. We just have to accept, as parents, that teens are different, and we have to speak their language.” He continued, “We just have to listen without judging and meet them where they are. As we meet them where they are, we also have to learn their language. We will not be able to meet them where they are if we’re not on social media.” That does not mean parents must imitate their teenagers or follow every trend. It means understanding enough of their environment to have a meaningful conversation about it. I picked up from him that our authority cannot depend only on the favorite phrase “Because I said so,” like how our parents raised us in the past. The digital age also makes adolescence more complicated. Dr. Francis Dimalanta described how identity exploration now happens before an audience and in real time, with algorithmically generated feedback. Online spaces can offer belonging, but their always-on qualities can also bring risks involving sleep, social comparison and cyberbullying. The digital world is not simply good or bad. It is a space our teens are inhabiting, and they need support and guidance from people they can truly trust. This connects with Sheila Estabillo of Plan International Pilipinas, who said: “Each of us has a role to play. Our ultimate goal here is not to remove teens from the digital environment, but to equip them with the necessary practical skills so they can safely navigate the online environment safely, critically and responsibly.” My interview with undersecretary Angelo Tapales of the Council for the Welfare of Children helped place this family conversation within a wider system of child protection. He explained that the council is an interagency government body attached to the

Department of Social Welfare and Development, and discussed the Makabata Helpline 1383 as a central mechanism for children’s concerns operating 24/7. He described linkages with government partners including the PNP and NBI among others, for relevant concerns, as well as connections for mental-health cases that need escalation. Usec. Tapales also discussed the council’s work with the Department of Education, including linking the Makabata Helpline with the DepEd hotline to address bullying, cyberbullying and other concerns involving children. His broader point was that child protection begins at home but continues in school and in the community. This matters in a digital age because online harm does not stay neatly online. The people and institutions surrounding a child need ways to respond together. Another point from my interview struck close to my own advocacy: Play. Usec. Tapales highligted that under the UN Convention on the Rights of the Child, children have a right to play—not only games and leisure, but open spaces where they can play. For families living with screens, this reminds us that digital balance is not only about what we remove. It is also about what we make room for—play, movement, rest, family time and real-world relationships. Dr. Francis Dimalanta has been a long advocate of play. He has shared his Age-by-Age L.E.A.R.N (Learn, Explore, Art & Active, Read and Nurture) play regimen for 0-8 years old through Ogalala. I learned that time spent in various types of play with my children through the years, has set a strong foundation for our open conversations today, of both their physical and digital worlds. I believe parenting a teen in the digital age is

not about winning a race against technology. We probably cannot. It is about making sure technology does not outrun our relationship with our child. We can learn their language without surrendering our values, set boundaries without becoming a police figure, and listen without immediately judging. Our teens may explore a world very different from the one we knew, but they still need something timeless: a home for a question, a mistake, an uncomfortable

experience brought forth or a new idea, and know that conversation is still open. In a world of many links, feeds and algorithms, perhaps our strongest connection will always be the human one. As parents, grandparents, titos, titas, ninongs and ninangs, let’s build this foundational and much-needed connection with children around us today, to guide them in developing skills toward a healthy mental and social environment for themselves.

Unlocking more savings for users with GrabCoins GRAB Philippines is giving users more ways to save by expanding how they can earn and redeem GrabCoins across everyday rides, food orders, grocery purchases, and cashless payments. Users can earn GrabCoins through eligible GrabCar bookings, GrabFood and GrabMart orders, GrabPay transactions, and selected inapp activities, then redeem them for vouchers or discounts on eligible rides, deliveries, grocery purchases, and in-store payments. All Grab users can earn GrabCoins by completing eligible transactions and participating in in-app activities. These include making an Advanced Booking or Group Ride, hosting a GrabFood group order, ordering during special periods, and shopping from participating grocery and pharmacy categories on GrabMart. GrabUnlimited members also receive enhanced GrabCoins on eligible cashless transactions, earning 6 GrabCoins for every

P100 spent using GrabPay and 3 GrabCoins for every 100 spent using other cashless payment methods. The popular service is also introducing Double Coins Days, a monthly promotion available to all users from the 23rd to the 25th of each month. During this period, users can earn 2× GrabCoins on selected transactions, with participating offers available on the GrabCoins homepage. Once earned, GrabCoins can be redeemed for vouchers from the GrabCoins catalogue or applied directly to eligible GrabCar, GrabFood and GrabMart transactions through the GrabCoins toggle feature. Users can also use GrabCoins for in-store QR Ph purchases when paying with GrabPay. GrabCoins remain valid for six months from the date they are earned. Users can check their GrabCoins balance and browse available rewards anytime through the Grab app.

How to help your kids make friends at a new school By Cheyanne Mumphrey The Associated Press FOR students starting at a new school, the first day holds many questions: Will they see any familiar faces? Who will they sit with at lunch? Who will they play with at recess? “I’m this much nervous,” said Iman Fair-Seldon, 5, holding her hands about 4 inches (10 centimeters) apart. Iman will start first grade next month at a new school in southern New Jersey, near Philadelphia. Despite the nerves, she said she is excited to make new friends. Starting at a new school or making a big transition, such as moving from elementary school to middle school, can be challenging. Parents may want to help but aren’t always sure what to say or do. Here’s some advice from both grown-ups and the ultimate experts: kids who have gone through transition themselves.

SCHEDULE PLAYDATES AND GO TO BIRTHDAY PARTIES

PARENTS of young children have significant influence over where their children spend time and with whom, experts say. They can seek out activities that create opportunities for connection, such as parks, playgrounds and birthday parties, and decide when their children are ready for activities like sleepovers. “Initially, parents have a huge impact when it comes to the friends that children have,” said Dr. Asha Barber Sutton, a licensed marriage and family therapist and an associate dean of academic affairs at National University in San Diego. “More than we would like to believe, our actions as caregivers make a difference in terms of how children

experience the world.” Amira Fair, Iman’s mother, says she prefers to keep to herself, but she pushes past those feelings to help her daughter develop relationships. “I make it my business to exchange numbers and try to schedule monthly playdates,” she said. “One thing I tried to do, especially at her old school, was go to every single birthday function, say hi to the parents, get a present, see the family.”

LET KIDS NAVIGATE THEIR OWN FRIENDSHIPS

PARENTS can’t manage every friendship for their children, experts say. Instead, they can help children develop their own sense of what makes a good friend: Are they kind? Are they honest? Can you be yourself around them? Some difficult interactions can help children learn what they value in a friend and how to handle conflict, Sutton said. Parents can also ask questions to help their children think about what they value in friendships: What qualities do you like in your friends? Who makes you feel comfortable being yourself? Those conversations can give children a framework for evaluating their own friendships when problems arise, experts say. Jaiden Journet, a 14-year-old starting at a new high school in North Carolina, suggests parents ask their kids: “Have you found anything you have in common with anyone?”

HELP KIDS GET INVOLVED

PARENTS also can support their children through encouragement, especially if they are shy or anxious. Encouraging children to get involved in extracurricular activities or to try something new can help them meet people with similar interests.

Shia Watts, 16, says trying something new led her to some of her friends at Notre Dame High School in Sherman Oaks, California. “Last year, I was part of theater production. I’d never done that before, but I met so many amazing people,” she said. When Jamir Gonzalez transferred last year to Uncommon Camden Prep High School in New Jersey, he joined the baseball and debate teams. “If you have any hobbies, find out if they have that at your school, and if they do, talk to the people that are there,” said Jamir, now a 16-year-old senior. Once students find opportunities to connect, starting the conversation is the next step, experts say. Smiling, complimenting others and asking questions can help start a conversation and keep it going. Iman, the New Jersey 5-year-old, remembers how she met her now “B-F-F-F-F-F.” It started with a compliment. “I think I said, ‘I like your shirt,’ and then she said, ‘Thank you.’ And I said, ‘So what’s your name?’” she recalled.

PUT DOWN THE CELLPHONES—SOMETIMES

STUDENTS may find it harder to start conversations when their peers are on their phones, wearing headphones or focused on screens. Experts say parents can encourage children, particularly teens, to put devices away at times so they can be more present and engaged with the people around them. One way to help: Stop texting your child at school, some teachers and experts say. But being too harsh with older children’s tech limits can isolate them socially, Sutton said. Still, parents should talk with their teens about expectations around technology, social media and

gaming, including knowing who kids are interacting with online. Technology can also help children maintain friendships when circumstances separate them, Sutton said. “If you move away, it’s no longer like, ‘Hey, I moved out of state, and I can never see you,’ ” she said. “We have FaceTime, and we can still stay connected to friends in that way.”

EVEN ONE FRIENDSHIP COUNTS

FEELING connected and having a sense of belonging at school can have an important effect on students’ well-being. If a student feels staff and peers at their school care about them, they are less likely to have poor mental health, use substances, or be involved in violence, according to the Centers for Disease Control and Prevention, and they are more likely to have better grades and attendance. But a student needn’t have a large friend group to feel connected. Even one relationship can make a meaningful difference, said Nicole Hockley, cofounder and CEO of Sandy Hook Promise, a nonprofit that focuses on gun violence prevention in schools. “Even if you only have one really strong friendship or one strong trusted adult, one strong sense of belonging, that can be enough to really positively affect your well-being and your trajectory through school and life,” she said. For students who are nervous about starting over, Hockley said, it can help to remember that other students may be looking for connection, too. “There’s also someone else just like you in that same space who’s also saying, ‘I would like to meet someone. I’d like to make a friend,’ ” she said. “It can be intimidating, but it’s not hard once you practice it.”

Thursday, August 27, 2026

www.businessmirror.com.ph

Storms, habagat death toll now 31

By Jonathan L. Mayuga

@jonlmayuga

HE fatality count of the combined effects of recent storms and the southwest monsoon has climbed to 31 confirmed dead, the National Disaster Risk Reduction and Management Council (NDRRMC) reported. Three others remain missing. This, as the weather bureau warned of yet another episode of moderate to heav y rain affecting several provinces, inc lud ing the Nationa l Capita l Region (NCR).

At the same time, the Office of the Civil Defense (OCD), which acts as the NDRRMC secretariat, reported that the affected population has also increased to 2.2 million families, or 7.7 million persons.

As of 6:00 a.m. on August 26, 346 evacuation centers continue to assist a total of 8,446 families or 28,910 persons. The NDRRMC said that due to flooding and landslides, a total of 2,700 houses were damaged. The total cost of damage to public and private infrastructure has also ballooned to P5.5 billion, while damage to crops is pegged at P1.9 billion. The government said some P1.42 billion in assistance was provided to affected families. Meanwhile, the NDRRMC said that the number of localities under a state of calamity has increased to 104 from Tuesday’s total of 102 cities and towns owing to severe flooding. Severely affected were Bataan, Bulacan, Pampanga, and Zambales,

which all declared province-wide states of calamities. In its weather advisory for the southwest monsoon issued at 11 a.m. on Wednesday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said heavy rains are expected from Friday to Saturday in Zambales, Bataan and Occidental Mindoro. The state weather bureau said that numerous flooding events are likely under such weather conditions, especially in areas that are urbanized, low-lying, or near rivers. Moreover, Pagasa warned that landslides are also likely in moderate to highly susceptible areas. Zambales, which has experienced severe flooding over the past days, is still experiencing

moderate rainfall, along with La Union, Pangasinan, Benguet, Bataan and Occidental Mindoro until Thursday. On Friday, moderate rainfall will affect Ilocos Sur, La Union, Pa n g a s i n a n , A br a , B e n g ue t , Ta r l a c , Pa mp a n g a , B u l a c a n , Metro Manila, Rizal, Cavite and Batangas. The weather bureau said that under the current weather conditions, localized flooding is possible in urbanized, low-lying, or river-adjacent areas, with the possibility of landslides in highly susceptible areas. Pagsasa further warned that forecast rainfall may be higher in mountainous and elevated areas, and that impacts in some areas may be worsened by significant antecedent rainfall.

AFP notes spike of foreign-maligned influence activities

OREIGN-MALIGNED influence activities against the Philippines and the protection of the West Philippine Sea (WPS) have increased since May, a military official said Tuesday. “There has been a noted spike or increase in foreign-maligned inf luence activities for the past four months. This [is] centered [on recent] law enforcement operations,” the Armed Forces (AFP) spokesperson for the WPS, Rear Adm. Roy Vincent Trinidad, said during a press briefing at Camp Genera l Emilio Ag uina ldo in Quezon City. Such activities started after 69 Chinese workers and a Filipino were arrested following a raid at the Sanjia Steel Corporation in Misamis Oriental in May. Authorities said the Chinese workers are undocumented and the alleged used scrap materials imported from China have hazardous radioactive substances. The company is reportedly

owned by businessman Tony Yang, a brother of Michael Yang, who served as presidential economic adviser during the time of President Rodrigo R. Duterte. Trinidad said the activities also targeted Defense Secretary Gilberto Teodoro Jr. and included false narratives against Bajo de Masinloc and Ayungin Shoal, as well as China’s renewed demand to pull out BRP Sierra Madre from Ayungin Shoal. “Allow me to say this to all and sundry Filipinos and foreigners alike – BRP Sierra Madre is there to stay on Ayungin Shoal. We will not remove that ship,” Trinidad said. Trinidad said the AFP has not monitored any Chinese Navy warship at four key features in the WPS from August 18 to 24. Meanwhile, 16 China Coast Guard vessels were seen at Ayungin Shoal, Pag-asa Island, Scarborough Shoal (Bajo de Masinloc) and Escoda Shoal during the same period. Rex Anthony Naval with PNA

Cebu looks to manufacturing to perk up investment base By Carmel Pedroza

EBU CITY—Cebu is seeking to diversify its investment base toward manufacturing as the province looks to reduce its dependence on the services sector and generate new employment opportunities, according to an investment official. Bryan To, a consultant to the Cebu provincial government, said the province is pursuing foreign investments in manufacturing and other emerging industries amid concerns over service-sector companies leaving Cebu. In an interview with the Cebu Economic Journalists Association, To said the shift is aimed not only at attracting new capital but also at creating a broader economic base that can generate jobs and support related sectors such as housing, education and health care. “We have to do something to mitigate,” To said, referring to

the potential impact of service companies leaving Cebu and the jobs and livelihoods tied to the sector. He said simply recycling the same industries would not be enough and that the province needs to look for new opportunities and technologies. One of the potential investme nt s b e i n g e x plore d i s i n electric-vehicle manufacturing, with an Association of Southeast A sian Nations (A sean)-based company considering Cebu as a possible test site for electric motorcycles. The company is involved in the production of motorcycle parts, assembly and batteries, according to the Cebu Capitol consultant, who said the proposed venture could provide an opportunity for Cebu to develop manufacturing capabilities in the emerging EV industry. See “Cebu,” A11

NATIONAL statement A vendor passes by a mural that declares “Atin Ang West Philippine Sea” [The West Philippine Sea is ours]. Malacañang on Tuesday urged Filipinos and public officials to be on guard against foreign malign influence, particularly in discussions on the West Philippine Sea. PNA PHOTO

PHL, US, Australia conduct nineteenth MMCA at WPS By Rex Anthony Naval

AVAL and air units from the Armed Forces (AFP) successfully conducted the 19th multilateral maritime cooperative activity (MMCA) with their American and Australian counterparts AT the West Philippine Sea (WPS) on August 19 to 25. In a statement Wednesday, the AFP said the week-long drills were carried with the United States Pacific Command and the Australian Defence Force. “A one-week activity successfully enhanced maritime interoperability and operational coordination among the participating forces through a series of complex maritime and air operations designed to strengthen their capability to operate seamlessly together in support for a free, open, and secure Indo-Pacific,” it added. The AFP said it deployed the guided-missile frigate BRP Diego Silang (FFG-7), a Navy AugustaWestland AW-109 “Power” helicopter, an Air Force FA-50 “Fighting Eagle” fighter aircraft, C-208B “Grand Caravan reconnaisance aircraft, and a PZL W-3 “Sokół” search and rescue helicopter. The Coast Guard (PCG) likewise participated through the deployment of BRP Teresa Magbanua (MRRV-9701). Meanwhile, the United States participated with the USS Santa Barbara (LCS-32) and P-8A

“Poseidon” maritime surveillance aircraft, while Australia deployed HMAS Supply (A-195), along with an MH-60R “Seahawk” helicopter and a P-8A maritime surveillance plane. “ Throughout the activity, participating forces successfully conducted advanced maritime interoperability exercises, including Communications Exercises [Commex], Maritime Domain Awareness [MDA], Anti-Submarine Warfare [ASW], Replenishment at Sea [RAS, Division Tactics [Divtacs]/Officer of the Watch [OOW] Maneuvers, Photo Exercise [Photoex] and fly-by operations,” the AFP said. It also added that successful completion of the 19th MMCA underscores the enduring commitment of the Philippines, the United States, and Australia to strengthening defense cooperation, enhancing interoperability, and promoting peace, stability, and security in the Indo-Pacific Region. As this developed, independent think-tank Stratbase Institute on Wednesday condemned what it described as attempts by foreign interests to pressure the Philippine government into halting or weakening enforcement actions against Chinese-linked steel facilities accused of violating Philippine laws. In a statement, Stratbase Institute president Victor Andres

Manhit specifically expressed his concern over reported threats to arrest Filipinos in China if the Chinese workers detained during the raids were not released. “We have seen how simply speaking out against violations of our country’s sovereignty could impact anybody, even our own Defense Secretary Gilberto Teodoro,” Manhit warned, referring to the sanctions imposed by the Chinese government against the Defense secretary last June over his strong stance and remarks regarding the WPS. “We must assert that no foreign government can dictate how Philippine agencies and courts enforce domestic laws or intimidate officials carrying out their duties,” he added. Manhit said the Philippines must enforce its laws consistently, protect its people and environment, and defend its sovereign right to govern its territory free from foreign coercion. Manhit also urged the government to pursue the investigations transparently, observe due process and hold violators accountable. Manhit’s statement comes amid government raids on Chinese-linked steel plants in Pampanga, Misamis Oriental and Davao where authorities reportedly found radioactive materials, toxic waste, illegal emissions and substandard steel products.

CHED allows four more new medical schools to open

OUR more higher educat ion inst it ut ions (HEIs) can soon offer the Doctor of Medicine program, the Commission on Higher Education (CHED) announced. In a statement, the agency said this is in line with President Marcos’s directive to ex pand the countr y’s medica l education and increase the number of physicians and hea lthcare professionals nationwide. CHED Chair person Shirley Agrupis however stressed that quality education must still be ensured amid the granting of permits and compliance certificates. “Expanding opportunities to study medicine must go hand in hand with maintaining quality, so that future doctors are equipped with the training and competencies needed to respond to the country’s healthcare needs,” she said. I n p a r t i c u l a r, t h e C H E D granted permits to the Tarlac State University (TSU) and the North Eastern Mindanao State University (NEMSU). This allows these institutions to operate the first and second year levels of their Doctor of Medicine programs. Besides TSU and NEMSU, the CHED also released Certificates of Program Compliance to the Cavite State University (CvSU) and the Pamantasan ng Lungsod ng Muntinlupa (PLMun) for their Doctor of Medicine programs. These approvals were issued following careful evaluation visits for compliance validation, in adherence to CHED’s minimum requirements for the Doctor of Medicine program under CHED Memorandum Order 18, series of 2016. Claudeth Mocon Ciriaco with PNA

32 tons of Cordillera vegetables saved from habagat, Neneng

ITH timely intervention, the Department of Agriculture saved about 32 tons of vegetables from getting spoiled in the Cordillera Region amid he heavy rains and floods brought by habagat and Typhoon Neneng. Anticipating the impact of the heavy rains as directed by President Marcos, the DA took steps to protect farm produce and make sure they reach the markets to prevent spoilage and supply interruptions. DA Spokesperson and Assistant Secretary Arnel de Mesa said the vegetables, mostly Chinese cabbage and carrots, were transported ahead of the typhoon to areas mostly affected by torrential rains, ensuring that supplies remained stable. “Sa katunayan, bago pa dumating ang mga bagyo, sa utos na rin ng ating Pangulo at Secretary Kiko [Tiu-Laurel], iyong mga gulay sa Cordillera about 32 tons na ang naibaba dito sa Pampanga, sa Silang, Cavite, sa tulong ng mga DA truckers,” de Mesa said. De Mesa said that because of the early movement of the produce from farms to markets, the vegetables remained in good supply in most markets even though some roads became not passable at the height of the habagat. See “Cordillera,” A11

Editor: Anne Ruth Dela Cruz

Health&Fitness BusinessMirror

Thursday, August 27, 2026 C1

ignore that lump or sore: Why UHC NEEDS MORE THAN A LAW; Don’t seeing an ENT specialist early matters IT NEEDS A SYSTEM THAT WORKS By Rizal Raoul S. Reyes

HE Universa l Hea lt h Care (UHC) Act promised Filipinos broader access to healthcare services, but many continue to shoulder significant out-of-pocket expenses for medical treatment, a sign that major gaps remain in the country’s healthcare system, according to health systems researcher Dr. Vencient Pepito. Speaking at a forum on the country’s healthcare system, Pepito said the law, signed in 2019, has yet to be fully felt by many Filipinos. “The reality of our healthcare system in the country is that despite the law, patients continue to shoulder significant out-of-pocket expenses for medical treatment,” he said. Pepito and his research team conducted key informant interviews and focus group discussions with officials from the Department of Health (DOH) and Philippine Health Insurance Corp. (PhilHealth), local government implementers, healthcare facility administrators and providers, as well as patients. Using the World Health Organization’s six health-system building blocks—governance and leadership, health information systems, health financing, service delivery, the health workforce, and medicines and technologies—the research identified several barriers to implementing UHC.

A system divided

ONE of the biggest challenges is the devolution of health services to local government units (LGUs), which has contributed to a fragmented health system. Pepito said UHC cannot be implemented consistently across the country when national and local governments, as well as public and private healthcare providers, operate without sufficient technical, managerial and financial integration. Local political dynamics can further complicate implementation, particularly when provincial governors and municipal mayors do not see eye to eye.

Pepito also said health can receive less political attention than highly visible infrastructure projects because the benefits of health programs are often less immediately apparent to voters. “Health is not a priority,” he said, noting that roads, infrastructure and other projects tend to be more visible. The research also identified procurement problems that can contribute to shortages of medicines, equipment and other supplies. Meanwhile, some private-sector providers remain reluctant to participate in UHC because of concerns over profitability, compliance requirements and possible penalties.

Too few hands, too many roles

THE shortage and maldistribution of healthcare professionals represent another major obstacle. Pepito said many doctors, nurses and other healthcare professionals are concentrated in Metro Manila, leaving provinces and geographically isolated areas underserved. Healthcare professionals are also not always adequately prepared for the administrative, procurement and management responsibilities required under a devolved UHC system, he said. LGUs face constraints in hiring additional health workers, while existing personnel are often required to perform multiple functions without additional compensation. “These caps prevent them from hiring additional human resources for health,” Pepito said, describing situations in which nurses are assigned additional administrative or recordsrelated duties.

When the money doesn’t follow the patient

FINANCING remains another challenge, with health often receiving a limited share of local government budgets. Pepito also cited concerns over PhilHealth reimbursement rates, claims processing and delays, as well as the difficulty of keeping reimbursement packages aligned with rising medical costs.

For some private providers, the cost of training personnel and complying with accreditation requirements can exceed the revenues generated from primary care services. These financial pressures can discourage private-sector participation in UHC, despite the sector’s significant role in delivering healthcare services in the Philippines.

responsibility for their health and make informed choices about when and how to seek care. “Taking care of ourselves” is particularly important because “it’s still so expensive to get sick here in the Philippines,” he said. He urged Filipinos to pay closer attention to their diet, lifestyle and everyday health practices.

Making information move with patients

UHC as a shared responsibility

FRAGMENTED health information systems are another major problem. Government health information platforms are not always interoperable, meaning patient information does not necessarily follow a patient when he or she moves from primary care to a hospital or from one locality to another. As a result, patients may have to repeatedly provide their medical history and undergo the same informationgathering process. “What we want is the data flows with the patient,” Pepito said. Improving interoperability could bring significant benefits, he said, although concerns involving data privacy, cybersecurity, technology and the readiness of health workers must also be addressed.

Self-care, but not self-treatment

WHILE systemic reforms are essential, Pepito also emphasized that individuals have a role to play in easing the burden on an already stretched healthcare system. For him, responsible self-care is not about managing illnesses without professional help. Rather, it involves practices that promote well-being, prevent avoidable illness and do not interfere with appropriate medical treatment. This becomes particularly relevant when people use traditional, complementary or alternative health practices. While some may be beneficial, others can potentially interact with conventional medicines or treatments. The goal, Pepito said, is not to replace professional medical care but to encourage people to take greater

PEPITO stressed, however, that responsible self-care cannot substitute for reforms in the healthcare system. Severa l initiatives could help strengthen UHC, including reforms introduced during the Covid-19 pandemic, changes in health-professions education, improvements in health financing and procurement, and efforts to strengthen local health governance. The Commission on Higher Education, for instance, has moved to reorient health-professions education toward UHC, while reforms in procurement and the Special Health Fund are intended to improve the financing and delivery of health services. PhilHealth has also evolved its primary-care benefit program from Consulta to the current YAKAP (Yamang Kalusugan) program, which Pepito described as a potentially positive step toward encouraging Filipinos to undergo regular checkups and avail themselves of primary-care services. Ultimately, UHC requires the participation of government, healthcare providers, communities and individual Filipinos. Pepito said Filipinos should not view UHC simply as free healthcare. Rather, it is a system based on shared responsibilit y—including pay ing health insurance premiums, using health services appropriately, advocating for accountability and protecting public health resources from misuse. For individuals, that responsibility also means taking steps to stay healthy and seeking appropriate medical care when needed. “UHC—we all have a role to play,” Pepito said. “Universal health coverage in the end is based on shared responsibility.”

ONE DONOR CORNEA, TWO CHANCES TO SEE

New transplant approach seeks to make scarce donor tissue go further By Anne Ruth Dela Cruz

INGAPORE—For people whose vision has been severely affected by a damaged or diseased cornea, a transplant can offer a chance to see clearly again. But there is a major obstacle: There simply are not enough donor corneas to meet the global need. Globally, only about one in every 70 patients who needs a corneal transplant receives one, with the shortage particularly severe in Asia, according to Prof. Marcus Ang Han Nian, Head and Senior Consultant of the Cornea and External Eye Disease Department at the Singapore National Eye Centre (SNEC). The scarcity has prompted SNEC to explore ways of not only improving the outcomes of corneal transplantation but also making better use of every donor tissue available. One of the most promising developments is the possibility of using one donor cornea for two patients. “Selective transplantation creates the possibility of dividing one donor cornea between two patients,” Ang said in his presentation during the SingHealth Urology and Ophthalmology Media Immersion held in July, which brought together journalists from the Philippines, Malaysia, Indonesia and Vietnam. Under the approach, the outer layer of a suitable donor cornea can be used for a patient who needs an anterior lamellar transplant, while the inner layer can be used for another patient requiring an endothelial transplant. SNEC received approval in 2026 to begin using a single donor cornea for more than one patient under appropriate circumstances. The approach is already being used in some other Asian markets. For Ang, the development is part of a larger transformation in corneal transplantation— from replacing the entire cornea to replacing only the portion that is diseased.

Prof. Marcus Ang Han Nian, Head and Senior Consultant of the Cornea and External Eye Disease Department at the Singapore National Eye Centre (SNEC).

Replacing only what is damaged

The cornea is made up of several layers, each with a specific function. When the cornea becomes permanently scarred or cloudy, vision can be severely impaired and transplantation may be the only way to restore useful sight. For decades, the standard approach was penetrating keratoplasty, or full-thickness transplantation. This involves removing the patient’s entire diseased cornea and replacing it with a donor cornea, which is secured with sutures. While the procedure can restore vision, it also carries risks, including graft rejection, infection and other complications. The graft can eventually fail, potentially requiring another transplant. Today, however, surgeons can take a more targeted approach. “The most important advancement in corneal transplantation is the shift from replacing the entire cornea to replacing only the diseased layer,” Ang said. If the disease affects the outer layers of

the cornea, an anterior lamellar transplant can replace those layers while preserving the healthy inner portion. If the innermost layer is affected, an endothelial transplant can be performed. This selective approach means surgeons can work through a much smaller incision, potentially reducing complications and supporting faster recovery. It can also improve the longevity of the transplant. SNEC’s data show that more than 90 percent of selected patients retain a clear, functioning transplant beyond 10 years, while some patients continue to have clear corneas and good vision 15 to 20 years after surgery.

A thinner, sutureless transplant

One of the most refined forms of selective transplantation is Descemet membrane endothelial keratoplasty, or DMEK. The procedure replaces only the thin, damaged inner membrane and endothelial cells rather than the entire cornea. These endothelial cells help keep the cornea clear by regulating its fluid content. When they are damaged, fluid can accumulate and cause the cornea to become cloudy. SNEC moved from full-thickness transplantation toward endothelial keratoplasty about 20 years ago. It now performs DMEK, which uses an even thinner layer of donor tissue. During the procedure, the donor tissue is carefully prepared, folded or rolled and inserted into the eye through a very small incision. An air bubble holds the transplanted layer against the back of the patient’s cornea until it attaches. Unlike traditional full-thickness transplantation, DMEK is sutureless. In routine cases, the procedure may take about 10 to 15 minutes, with useful vision potentially returning within one or two weeks. Recovery from a traditional full-thickness transplant,

by comparison, may take several months or up to a year. SNEC is among the centers in Asia with extensive experience in DMEK, a minimally invasive technique that the center says offers faster visual recovery and lower complication and rejection risks than older forms of endothelial transplantation.

Making every donor cornea count

The ability to divide suitable donor tissue between recipients is particularly significant given the shortage of corneas worldwide. But it is not as simple as cutting a cornea in half. The process requires careful assessment of the donor tissue, specialized preparation, tracking and regulatory oversight. There is also a small risk of transmitting an infection from a donor to more than one recipient. SNEC’s eye-banking capabilities allow donor corneas to be imported, assessed, prepared and stored before transplantation. The center has also developed specialized techniques for preparing, folding and injecting donor tissue, particularly for delicate procedures such as DMEK. Ultimately, the objective is not simply to increase the number of transplants. “Donor corneas remain scarce globally,” Ang said. “The aim is therefore not only to perform more transplants, but to ensure that each transplant lasts as long as possible.” Longer-lasting grafts mean fewer patients may need another donor cornea in the future. Dividing suitable donor tissue between recipients could allow even more patients to benefit from the limited supply. “Selective transplantation therefore supports both improved patient outcomes and more responsible use of donated tissue,” Ang said. See “Cornea,” C2

DR. Daniel M. Alonzo, head of the Healthway Cancer Care Hospital (HCCH) Head and Neck Center of Excellence, attending to a patient during a consultation.

By Candy P. Dalizon Contributor

ELT a lump in your neck? Have a mouth sore that refuses to heal? Or perhaps your voice has been hoarse for weeks? These symptoms may seem minor, but they can sometimes be early warning signs of head and neck cancer. According to Dr. Daniel M. Alonzo, head of the Healthway Cancer Care Hospital (HCCH) Head and Neck Center of Excellence, recognizing these signs and seeking medical attention early can make a significant difference in treatment and recovery. Head and neck cancers can develop in the mouth, throat, nose, sinuses, larynx, salivary glands and other structures in the head and neck. Because these areas contain vital structures that control breathing, swallowing, speech and the senses, treatment must address not only the cancer but also the patient’s ability to function and maintain quality of life. “The best way to prevent damage to function is early diagnosis. If there is cancer, early diagnosis and early treatment lead to an excellent outcome with no impact on function,” said Dr. Alonzo.

Know the warning signs

DR. ALONZO said the symptoms and behavior of head and neck cancers vary depending on where they develop. In his clinical experience, nasopharyngeal cancer is among the more frequently encountered head and neck cancers, followed by cancers of the oral cavity. Other cancers may develop in the oropharynx, larynx and salivary glands. Thyroid cancer is also common in the head and neck region, he noted, although it is often discussed separately because most thyroid cancers are slow-growing and welldifferentiated and are highly treatable. Risk factors also vary by cancer type. Smoking, heavy alcohol consumption, advancing age and human papillomavirus (HPV) infection are among the known risk factors for head and neck cancers. Age can also play a role. Dr. Alonzo said oral cavity cancers are more commonly seen among older adults, particularly those in their late 60s and beyond, and are strongly associated with age and lifestyle factors such as smoking and heavy alcohol consumption. Oropharyngeal cancers, on the other hand, are increasingly being seen in younger patients, including those without a history of smoking or heavy alcohol use. Dr. Alonzo attributed much of this trend to HPV. He emphasized that HPV vaccination can substantially reduce the risk of HPV-related cancers when administered at the recommended age. The location of a tumor can also determine how early it is detected. Dr. Alonzo said cancers of the nose and sinuses may go unnoticed until they have grown considerably, while cancers of the oral cavity may be easier to spot because lesions can be visible in the mouth. A mouth sore that does not heal, however, should not simply be dismissed as an ordinary singaw. “If you have a sore that doesn’t heal after three weeks, get it examined immediately, as stage 1 or 2 oral cancer is very curable,” said Dr. Alonzo. The same applies to persistent changes in the voice. “If you are hoarse for more than three weeks, see a doctor right away, as stage 1 larynx cancer has an excellent cure rate,” he added. Other warning signs include persistent nosebleeds, ongoing one-sided nasal obstruction, hearing loss or muffled hearing, a sensation of blockage in one ear, and ringing or tinnitus in a single ear. In the mouth and throat, symptoms to watch for include persistent mouth or throat sores, sore throat, pain or difficulty when

swallowing, hoarseness, and spitting or coughing up blood. A lump in the neck is another important warning sign, particularly in an adult. “A lateral neck mass on the side of the neck in an adult must be considered malignant until proven otherwise,” Dr. Alonzo said. While these symptoms can have causes other than cancer, persistent or unexplained symptoms should be evaluated rather than ignored.

Why an ENT specialist?

BECAUSE many head and neck cancers first present through symptoms involving the ear, nose or throat, Dr. Alonzo said an ENT specialist—or otolaryngologist—is often the appropriate physician to consult. “The most common entry of patients with head and neck cancers is an ear, nose, and throat symptom or sign,” he said. An ENT specialist can examine the affected area, determine whether further testing is necessary and, when appropriate, coordinate a biopsy and imaging studies such as CT, MRI or PET scans. At HCCH, patients can also be referred among ENT subspecialists depending on their condition. These include specialists in the nose and sinuses, ear, larynx, maxillofacial bones, pediatric ENT and reconstruction. When a diagnosis of cancer is confirmed, care shifts to a multidisciplinary approach involving specialists such as head and neck surgeons, radiation oncologists, medical oncologists, pathologists, radiologists and nutritionists, depending on the patient’s needs. In nasopharyngeal cancer, for example, treatment may involve radiation and medical oncology alongside nutritional and other supportive services. “There is one doctor who is the captain of the ship, who leads the team from beginning to end of the journey, but everyone gets involved along the way,” Dr. Alonzo explained. “The multidisciplinary team revolves around the patient and around the disease.”

Saving function, not just life

FOR head and neck cancer patients, successful treatment involves more than eliminating the tumor. Dr. Alonzo said doctors must work to preserve the airway for breathing, swallowing and its related functions such as chewing and taste, as well as speech, hearing and smell. Appearance is another important consideration, particularly because some head and neck surgeries can affect facial structures. For this reason, rehabilitation is an integral part of recovery. Depending on the patient’s condition, this may include voice rehabilitation, swallowing therapy and facial reanimation to restore facial movement and symmetry. “Saving a life is only part of the goal,” Dr. Alonzo said. The ultimate goal is to cure the patient and prolong life while preserving function, appearance and dignity. At HCCH, this continuum of care extends from diagnosis and treatment to management of complications, rehabilitation and long-term surveillance.

Don’t wait for symptoms to worsen

FOR Dr. Alonzo, one of the biggest challenges in improving outcomes is changing the way people respond to symptoms. A neck mass, for example, may be painless and may not interfere with eating or daily activities, leading patients to postpone consultation. His advice is simple: don’t wait for a symptom to become painful or disruptive before seeking help. “If you notice any symptom—any of what I enumerated earlier—have it checked early. When you get examined early, you get the right diagnosis and the right treatment by the right doctor at the right time,” he said.

Health&

Business

C2 Thursday, August 27, 2026

Protein quality matters: Why dairy can help fill nutritional gaps across life stages By Candy P. Dalizon Contributor

ETTING enough protein— and getting it from quality sources—is important at every stage of life. In the Philippines, however, nutritional gaps remain a concern, particularly among young children and older adults. While child stunting continues to decline, progress remains slower than national targets. Among older Filipinos, inadequate protein intake may contribute to frailty and sarcopenia, the age-related loss of muscle mass and function. These concerns were among the issues discussed at a recent trade seminar organized by the U.S. Dairy Export Council (USDEC), “From Supply to Innovation: Empowering Nutrition with U.S. Dairy Ingredients.” The event brought together food manufacturers, nutrition experts, and industry leaders to explore ways of improving nutrition through food innovation.

Addressing protein gaps

WHEN overall protein intake is limited, the quality of the protein consumed becomes particularly important. High-quality proteins, including dairy proteins and eggs, provide all nine essential amino acids needed by the body for growth, repair, and maintenance. For older Filipinos, protein inadequacy is a significant concern. Data from the Department of Science and Technology–Food and Nutrition Research Institute (DOST-FNRI) in 2023 showed that 72.4 percent of adults aged 60 and above did not meet

their Estimated Average Requirement (EAR) for protein. Among those aged 70 and older, the figure rose to 80.4 percent. Their mean intake was about 40 grams per day, compared with an EAR of 53 grams. Dietary patterns also highlight the importance of food variety. Wellmilled rice remains the largest contributor to protein intake across demographic groups, accounting for about 31.8 to 37.4 percent of total protein consumption. Rice remains an important staple and source of energy and nutrients. However, rice protein alone does not provide the same balance of essential amino acids as some higher-quality protein sources. Combining rice with other protein-rich foods can therefore improve the overall nutritional quality of the diet. “Rice remains a staple of the Filipino diet and an important source of protein. However, rice protein alone may not provide all the essential amino acids needed to meet nutritional requirements,” said Dr. Cecilia Acuin, Associate Professor at the Institute of Human Nutrition and Food, Philippines. “Complementing rice with other high-quality protein sources like dairy can help improve the overall quality of the diet,” she added. “By combining affordability with high-quality protein and essential nutrients, the food industry can play an important role in improving nutrition for Filipino consumers.” For older adults, ensuring adequate protein intake is particularly important because insufficient intake can make it harder to maintain muscle

mass and physical function. Sarcopenia is associated with greater risks of disability, mobility limitations, hospitalization, and loss of independence.

Dairy Export Council. “Consumers define value for money as nutritious products that are also affordable, convenient and tasty.”

Getting more nutrition from every peso

A role for food innovation

BEYOND protein adequacy, experts at the seminar also emphasized the importance of making nutritious choices accessible and affordable. “There is a common perception that nutritious foods are expensive,” said Dr. Sylvia Chungchunlam of the Riddet Institute, New Zealand. “Rather than solely focusing on price, it’s important to view foods through a nutritional lens. Good choices like dairy deliver high nutritional value for the amount spent.” Milk and dairy ingredients such as skim milk powder, whey, and milk proteins provide high-quality protein containing all nine essential amino acids. Milk also supplies a range of vitamins and minerals, including calcium. For consumers, however, nutrition is only one consideration. Food also needs to be affordable, convenient, tasty, and readily available. USDEC’s Consumption Tracker found that 75 percent of Filipino respondents considered good value for money the most important factor influencing food and beverage purchases, while 58 percent looked for high-quality nutritional ingredients. The findings reflect a broader balancing act among consumers who want healthier choices without stretching their food budgets. “Value today is no longer defined by price alone,” said Anoo Pothen, Vice President, Strategic Insights, U.S.

THE challenge, experts noted, is to translate these nutritional priorities into foods that consumers can realistically incorporate into their everyday diets. Dairy ingredients can give food manufacturers flexibility to develop products with additional protein and other nutrients across categories, including beverages, yogurt, bakery products, snacks, and ready-to-eat foods. “The Philippines remains one of USDEC’s most important markets globally and the largest destination for U.S. dairy exports within Southeast Asia,” said Dali Ghazalay, Regional Director, U.S. Dairy Export Council, Southeast Asia. As Filipinos navigate nutritional needs at different stages of life, improving access to quality protein does not necessarily require abandoning familiar foods. Instead, experts point to the value of complementing staples such as rice with diverse, nutrient-rich protein sources. For food manufacturers, this presents an opportunity to develop products that combine nutrition with the affordability, taste, convenience, and accessibility that consumers increasingly expect. Ultimately, improving nutrition across the life cycle may begin with a simple principle: what people eat matters not only in quantity, but also in quality.

Patient Access Programs at Asian Hospital make cancer treatment more affordable

ANCER treatment can be a long and challenging journey. Aside from coping with the physical and emotional effects of cancer, many patients and their families also worry about the cost of treatment. The good news is that Patient Access Programs can help eligible patients continue their treatment by making cancer medicines more affordable. Patient Access Programs are designed to help eligible patients reduce the cost of their prescribed cancer medicines through discounts or free medicines funded by pharmaceutical companies. Depending on the specific program, patients may receive discounts on their treatment or qualify for free doses after meeting certain eligibility requirements. These programs help lessen the financial burden of cancer care and allow patients to stay on track with the treatment plan recommended by their physician. “Cancer treatment should never be interrupted because of financial concerns. Patient Access Programs play an important role in helping eligible patients continue

CKD... Continued from C4 At the same time, healthcare-seeking behavior tends to be reactive. Many patients only consult only when symptoms appear, often due to financial constraints, limited awareness, or lack of preventive screening opportunities. Coverage structures also tend to prioritize treatment over early diagnostics, which can further reinforce this pattern. Taken together, these factors create a system where CKD is more likely to be identified later in its progression, even when earlier detection would have been possible. When identified early, CKD progression can often be slowed through timely intervention, appropriate medication, and lifestyle support. This helps preserve kidney function for longer and reduces the risk of complications later on. It also helps reduce the long-term financial burden on both patients and the healthcare system. In kidney care, timing is not just a detail in treatment. It is often one of the most

their prescribed treatment by connecting them with available support that can make life-saving medicines more affordable,” said Dr. Mary Ondinee Manalo-Igot, Oncologist at the Asian Cancer Institute, Asian Hospital and Medical Center.

Available financial assistance

MANY people are unaware that financial assistance may be available to help cover the cost of cancer treatment. By asking their healthcare team about Patient Access Programs, eligible patients can learn about the available options and determine whether they qualify. Each program has its own eligibility requirements, which typically include a valid prescription and other medical and program-specific criteria. “Early conversations about financial support are just as important as discussing treatment options. Patients should feel comfortable asking their healthcare team about Patient Access Programs, as these may help them stay on track with the treatment recommended by their phy-

important factors in improving early detection requires making it part of routine care, especially for high-risk individuals. This includes integrating uACR and creatinine testing into primary care check-ups, where most patients first seek care, and strengthening community health systems such as barangay health centers so screening can happen closer to communities. Local government units (LGUs) play a key role in normalizing preventive screening, with emerging public-private collaborations already showing how communitybased early detection can be both feasible and scalable. The P592 billion burden of CKD is often understood as the result of disease prevalence.[] But a closer look shows that a significant part of this cost is shaped by late detection and late intervention. From a clinical perspective, this is an important distinction. It means that a large portion of this burden is not fixed—it is preventable. The Philippines now stands at a point where the question is not whether CKD can be detected earlier, but whether early de-

sician,” Dr. Manalo-Igot added. At Asian Hospital and Medical Center, patients may inquire about available Patient Access Programs through their attending physician or by visiting Chrys Specialty Pharmacy. As a patient access hub, Chrys Specialty Pharmacy provides information on available programs, explains eligibility requirements, assists with enrollment, and works closely with the patient’s healthcare team to make the process as smooth and convenient as possible.

Government assistance

IN addition to Patient Access Programs, eligible patients may also explore government financial assistance. With the guidance of the Medical Social Worker at the Outpatient Health Services, patients can apply for available government assistance programs. Chrys Specialty Pharmacy can also prepare the treatment quotation required for the application. To further help patients manage the cost of treatment, Asian Hospital and Medical Center also partners with

tection can be made part of everyday care. The question is no longer whether CKD can be found earlier. The question is whether we can make early detection the standard rather than the exception. Because when kidney disease is identified earlier, patients have a greater opportunity to preserve kidney function, avoid complications, and reduce the need for costly interventions later on. Dr. Greta Cortez is a distinguished cardiologist and critical care specialist with over 14 years of clinical experience and more than a decade of leadership in the pharmaceutical industry. She currently serves as the Head of Medicine, Human Pharma at Boehringer Ingelheim Philippines, where she has been instrumental in shaping medical strategies and advancing patient-centric healthcare solutions. In parallel with her corporate role, Dr. Cortez practices as a Cardiologist and Critical Care Specialist at Cardinal Santos Medical Center and Mary Mediatrix Medical Center, reflecting her sustained commitment to both medical innovation and frontline patient care.

BDO, BPI, UnionBank, and HSBC to offer qualified cardholders flexible installment payment options, including up to three months at 0% interest. Together with Patient Access Programs and government financial assistance, these initiatives help ensure that financial concerns do not prevent eligible patients from receiving the treatment they need. “Our goal is to ensure that eligible patients have access to the treatment they need without unnecessary delays due to financial challenges. Through Patient Access Programs and the support of our multidisciplinary team, we help patients navigate available assistance so they can focus on their treatment and recovery with confidence,” Dr. Manalo-Igot emphasized. For inquiries about Patient Access Programs, you may call the Asian Hospital and Medical Center hotline at (02) 8771-9000 local 5913 or email infohub@asianhospital. com. You may also follow the hospital’s official social media pages at @AsianHospitalPH for updates, health information, and patient services.

Cornea...

Continued from C1

The value of a gift

THE innovation also underscores the importance of corneal donation. At SNEC, which has performed corneal transplantation for decades and carries out hundreds of procedures each year, eye-banking is an integral part of the transplant program. For patients who have lost useful vision because of corneal disease, the donated tissue can mean a return to activities that many people take for granted—from reading and working to moving independently and seeing the faces of family members clearly again. And with advances in selective transplantation, the potential impact of that donation is growing. A donor cornea can be carefully matched to the specific needs of a recipient, while suitable tissue may potentially be divided to help two patients rather than one. In a region where donor tissue remains scarce, that is more than a surgical innovation. It is a way of making the gift of sight go further.

Beyond calories: Why eating well starts long before food reaches your plate

THIRD panel discussion with Chef Jayjay SyCip of The Fatted Calf, Jo Sebastian Registered NutritionistDietitian, Sheryl Joven F&B Project Compliance Manager of Okada Manila and Jacob Seck of Seck Winery

Story & photos by Nicole Paler

E’VE become pretty good at c hec k ing what ’s on our food labels. Calories? Check. Sugar? Maybe a little alarming. Protein? The more, the better—or so the internet keeps telling us. But between comparing nutrition facts in the grocery aisle and deciding what to eat for lunch, there’s another question worth asking: Where did this food actually come from? Eating well is about more than counting calories or choosing the package with the shortest ingredient list. It can also mean understanding how food is grown, who produces it, and what it takes to bring it from the farm to our plates. That broader conversation took center stage at European Organic Day Philippines 2026, where Naturland, through the European Union-supported “European Organic: Nurturing Every Juan” campaign, brought together stakeholders from government, agriculture, sustainability, the food industry, and civil society to explore how organic food can become a more accessible option for Filipinos. But the discussion went beyond simply encouraging consumers to buy organic. It looked at the systems behind those choices—from farmers and certification to market access and consumer education.

Organic doesn’t have to mean complicated

DURING the discussion “From Awareness to Action: Unlocking Demand for Organic Food,” Chef Jayjay SyCip of The Fatted Calf Farmhouse Kitchen challenged the idea that choosing organic requires a complete lifestyle change. “To some people, organic can mean healthy, eating vegan, or going vegetarian. To some, eating organic is a change in lifestyle. But it is actually not,” he said. About 60 percent of the ingredients he uses in his restaurant are organic, he said, including free-range, organic chicken sourced from a farmer in Batangas. “It’s still chicken,” SyCip said, emphasizing that choosing organic does not mean abandoning familiar foods. For him, it is more about being conscious of the ingredients and how they are produced. That distinction is important. Organic and healthy are not necessarily interchangeable. Organic certification focuses on how agricultural products are produced and processed according to defined standards, while a healthy diet depends on the overall nutritional quality and balance of the foods we eat. Still, knowing more about where food comes from can help consumers make more informed choices. For SyCip, that connection is personal. His appreciation for fresh ingredients goes back to the food he experienced in his mother’s hometown in Bulacan and to his family’s connection to farming. Behind every ingredient, he noted, is someone’s time, work, and care— something that can easily be forgotten once food reaches a restaurant kitchen or dining table.

From farm to certification

THE journey from farm to table can also involve years of preparation and

commitment. Jakob Seck of Seck Winery shared how his family farm transitioned to organic production decades after it was established. The process took three years and involved moving away from pesticides and herbicides before the farm received organic certification. Certification provides consumers with a way to identify products that have met established organic standards. But behind the logo is a process that can involve transition periods, inspections, documentation, and a long-term commitment to prescribed production practices. For farmers and producers, however, meeting those standards is only part of the challenge. They also need reliable markets, technical support, and consumers who understand and value what the certification represents.

Making better choices possible

CONSUMER awareness can encourage demand, but awareness alone is not enough if healthier or responsibly produced choices remain difficult to find or afford. Jo Sebastian, a registered nutritionist-dietitian, pointed to the abundance of nutritious ingredients already available in the Philippines. “Filipino food is actually very rich in vegetables. Our cuisine and our country is so rich in all of these produce and culture that allows us to actually have a healthy diet, but it’s definitely access and support that we need to try and prioritize and put more attention to,” she said. Her point underscores a larger challenge: eating well is not simply a matter of individual willpower. Food availability, affordability, agricultural support, market systems, and consumer knowledge all influence what ends up on the table. These issues were central to European Organic Day Philippines 2026, held in partnership with the Department of Agriculture’s National Organic Agriculture Program (NOAP), with the support of the European Chamber of Commerce of the Philippines and Philippine social enterprise Mayani. The event explored how greater knowledge exchange and cooperation could help strengthen organic agriculture and local food systems, while encouraging greater consumer understanding of organic products. For consumers, the first step may be much simpler than a complete lifestyle overhaul: stay curious. Read the label. Ask where an ingredient came from. Learn a little more about the people who produced it. Understand what an organic certification means—and what it does not mean. Because helping consumers make better food choices also means building a system that gives farmers the support, markets, and opportunities they need to produce and sell those choices. Eating well does not have to mean meal-prepping seven identical containers every Sunday or memorizing the nutritional value of every vegetable. Sometimes, it can begin with paying closer attention. Beyond the calories, protein, and sugar content, there is a much bigger story behind every plate. Understanding that story may be one more step toward learning how to eat well—and building a food system that makes it possible.

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Thursday, August 27, 2026 C3

Beyond the smile: Why children with clefts need more than surgery By Anne Ruth Dela Cruz

OR Denver Carranza, undergoing surgery as a child was a turning point in his life—but it was not the end of his journey. Born with bilateral cleft lip and cleft palate, Carranza underwent his first operation with the help of the Philippine Band of Mercy, Smile Train and his grandmother. Yet as he grew older, he encountered challenges that could not be addressed in an operating room. When he entered school, he experienced bullying and sometimes struggled to speak clearly. There were moments when he lost hope. What helped him overcome those challenges was the love and emotional support of his grandmother. “A child with cleft lip does not just need an operation,” Carranza said. “They need true acceptance from their parents. Love, emotional support, and long patience.” Today, Carranza works as a support staff member at the Philippine Band of Mercy, helping families of newborns with cleft conditions find the information and treatment they need. For him, the work is more than a job; it is a way of helping children have a better start and a brighter future. His experience underscores a message highlighted during Smile Train Philippines’ Beyond the Smile community fair: cleft care goes far beyond surgery.

A journey that begins at birth

CLEFT lip and palate are among the most common birth differences worldwide and are highly treatable. However, many families continue to face barriers to timely and comprehensive care, according to the information presented at the event. For Dr. Gene Gerald Dr. Tiongco, a Smile Train volunteer surgeon who has performed cleft operations for two decades, the journey begins the moment a child is born. The first concerns may not even involve surgery. Pediatricians can help parents understand how to feed a baby with a cleft and ensure that the child receives adequate nutrition. Other specialists, including dentists and orthodontic professionals, may become involved as the child grows. Surgery itself also depends on the child’s condition and nutritional status. Dr. Tiongco said cleft lip surgery generally requires the baby to be at least three months old, while cleft palate repair is typically performed before the child begins speaking, with timing depending on the individual patient. But even after an operation, care continues. “It’s not just the surgeon’s responsibility,” Dr. Tiongco said. “When we say we, it’s all about a team.” That team can include nutrition experts, dentists, orthodontic specialists, psychologists or psychiatrists, nurses and speech therapists. The goal is to follow the patient beyond the op-

erating room and address the different needs that may arise throughout the child’s development.

tion Inc., said education can influence not only what children know but also how they treat others. The partnership is also exploring educational materials that can give children with clefts greater representation while helping other children understand experiences different from their own.

More than a surgical outcome

JOHN M A NUEL FLOR ES, Smi le Train’s Area Director for Southeast Asia, said the first surgery can be a life-changing milestone, but it is only the first step in a much longer journey. Children with clefts may face difficulties with feeding and nutrition in infancy and may later require speech therapy, orthodontic care, hearing support and psychosocial counseling. Comprehensive cleft care means accompanying the child and family through these different stages, from infancy into adulthood. This broader approach also changes the way success is measured. For Dr. Tiongco, the impact of surgery can be dramatic. He recalled how parents may become emotional when they see their child after an operation—not simply because of the physical change, but because they begin to imagine a future in which the child can face less stigma and pursue opportunities with greater confidence. “It’s not just an operative success,” Dr. Tiongco said. “It’s a success and contentment of the whole community.”

Breaking the cycle of misinformation

PROVIDING medical care is only one part of the challenge. Awareness is equally important.

Bringing care closer to families

PANELISTS at the Beyond the Smile: A Community Fair for Cleft Awareness fireside chat are from left, Dominic Leandre D. Buhain, Vice Chairman of REX Education Foundation Inc.; Denver Carranza, Smile Train Patient Advocate; Dr. Gene Gerald SJ. Tiongco, Smile Train Volunteer Surgeon; and Mr. John Manuel Flores, Smile Train Area Director for Southeast Asia.

Dr. Tiongco said some parents blame themselves when their child is born with a cleft, asking what they might have done during pregnancy to cause the condition. He emphasized the need for healthcare professionals to reassure parents that it is not their fault. Misconceptions can also persist within communities, including beliefs that cleft conditions are caused by traumatic events or other unfounded explanations. Such misinformation can contribute to stigma and discourage

families from seeking care. For Smile Train, addressing these misconceptions requires bringing accurate information beyond hospitals and clinics. The organization has partnered with the REX Education Foundation Inc. to expand cleft education through literacy and community-based initiatives. The partnership seeks to help children, schools and communities understand cleft conditions while encouraging empathy and inclusion. Dominic Leandre D. Buhain, Vice Chairman of REX Education Founda-

ACCESS remains another major challenge, particularly for families who live far from major medical centers. Smile Train said it has been operating in the Philippines since 2001 and currently works with more than 60 partner hospitals across the country. Through these partnerships, the organization provides funding, training and other support to local healthcare professionals so patients can receive free cleft care closer to their communities. Flores described the approach as a sustainable, local-first model. Rather than depending on short-term medical missions, Smile Train works with local doctors, hospitals and healthcare workers, providing resources and training to support year-round care. T he suppor t e x tend s beyond surgery to services such as speech therapy, orthodontic treatment and nutritional care, depending on the patient’s needs. For families, bringing these services closer can mean less travel, fewer barriers and a greater chance of receiving care when it is needed.

ASIAN HOSPITAL AND MEDICAL CENTER CONTINUES ITS JOURNEY OF EXCELLENCE THROUGH PEOPLE, INNOVATION, AND CARE

XCELLENCE in healthcare is built not only on medical expertise, but also on the people, innovations, and values that shape the way care is delivered. Across its programs, milestones, and initiatives, Asian Hospital and Medical Center continues to strengthen its commitment to empowering its people, advancing healthcare knowledge, and creating better experiences and outcomes for patients and their families. From workplace transformation and the development of future physicians to advances in specialized care and continuing professional education, these recent milestones reflect a continuing journey of growth and improvement. More than achievements to celebrate, they represent a shared commitment to making quality, compassionate care a constant part of the patient experience.

Transforming the Workplace Through People and Innovation

ASIAN Hospital and Medical Center received the Bronze Award for Excellence in Business Transformation at the HR Excellence Awards 2026 Philippines, held at the Grand Hyatt Manila in Taguig City. The recognition highlighted the institution’s efforts to transform the workplace by empowering its people, embracing innovation, and strengthening its organizational culture. These initiatives aim to create an environment where employees are supported in their professional growth while being equipped to deliver exceptional care and service. The achievement was made possible through the collective efforts of the Human Resources team, leaders, and employees whose collaboration and commitment contributed to the milestone. More than a recognition, the award affirmed the importance of investing in people as an essential part of organizational transformation. It reflected an environment where employees are encouraged to grow, contribute, and make a meaningful difference. By bringing together people, innovation, and purpose, the organization continues to build a workplace capable of responding to the changing needs of both its employees and the patients and communities it serves. The milestone was celebrated with pride and gratitude, reinforcing the commitment to bring “Alagang Deserve, Alagang Sulit” to life through excellence in both healthcare and service.

Building Knowledge for a Stronger Healthcare System

THE Human Resources team received the Bronze Award for Excellence in Business Transformation at the HR Excellence Awards 2026 Philippines, held at the Grand Hyatt Manila.

CELEBRATED 24 years of compassionate Obstetrics and Gynecology care with Dr. Valerie Guinto, Chairman, Dr. Ces Reyes, Dr. Lily Rose De La Concepcion, Dr. Manuel S. Manabat, and fellow Obstetrics and Gynecology doctors.

entrusted to a doctor’s care. For the Class of 2026, graduation marked both an ending and a beginning—the completion of one important chapter and the start of a new journey in medicine. The institution congratulated the graduates and wished them success as they carried forward the lessons, values, and experiences gained during their training.

DR. Kert Howard Olea, speaking on behalf of the graduates during the Graduation Ceremony of the Post-Graduate Medical Interns, Class of 2026

Strengthening the Fight Against Stroke

DR. Jennifer Justice Manzano, Head of the Asian Brain Institute at Asian Hospital and Medical Center, received the prestigious Diamond Status Award from the World Stroke Organization (WSO) Angels Awards on behalf of Asian Hospital and Medical Center’s Brain Attack Team.

DR. Jose Acuin, Director of the Asian Learning Institute, during the Institute’s 1st Postgraduate Course, “Universal Health Care: A Basic Course for Private Practitioners,” under the Advances in Learning and Innovation Series.

Celebrating 24 Years of Caring for Women and Families

THE Obstetrics and Gynecology Department marked its 24th anniversary with a gathering that honored more than two decades of dedicated service to women and families. The celebration brought together members of the department, healthcare professionals, colleagues, and guests to reflect on the many patients and families who have been part of its journey. Over the years, the department has supported women through pregnancy and childbirth, women’s health concerns, and other important stages of life. At the heart of the milestone were the doctors, nurses, staff, and other healthcare professionals whose expertise and compas-

sion have helped shape the department’s growth. For 24 years, the department has remained focused on providing personalized care while recognizing that every woman’s healthcare journey is different. Its work reflects a broader commitment to placing patients and their families at the center of every service. The anniversary was therefore more than a celebration of longevity. It was an opportunity to honor the people behind the care and reaffirm the commitment to supporting more women and families in the years ahead.

A New Generation of Doctors Begins Its Journey

THE Post-Graduate Medical Interns, Class of 2026, officially completed a year marked by demanding clinical rotations, long hours, teamwork, and countless opportunities to learn from patients and healthcare professionals. The Graduation Ceremony brought

together the graduating interns, hospital leaders, medical professionals, colleagues, and loved ones to celebrate the completion of their internship and the experiences that helped shape them as future physicians. One of the memorable moments of the ceremony was the message delivered by Dr. Kert Howard Olea on behalf of the graduating class. “Looking back, I realize that internship was never simply about mastering clinical skills; it was about becoming the kind of doctor our patients deserve: Competent enough to heal, wise enough to listen, humble enough to keep learning, and compassionate enough to remember that every patient entrusts us with something priceless—their life.” His words captured the deeper meaning of internship: that becoming a physician involves more than acquiring clinical knowledge and technical skills. It also requires empathy, humility, resilience, and an enduring commitment to the people

THE Brain Attack Team once again received Diamond Status from the World Stroke Organization (WSO) Angels Awards, with the recognition presented at Edsa Shangri-La on August 12, 2026. The award recognizes the team’s continued efforts to provide timely, coordinated, and quality stroke care, where every second can make a difference in a patient’s outcome. As a stroke-ready hospital, the institution has continued to strengthen its systems and processes to ensure that patients experiencing stroke receive prompt assessment, appropriate intervention, and coordinated care. The Diamond Status reflects the work of the Brain Attack Team and the healthcare professionals who come together during critical moments. Their preparedness and coordination are essential in responding to stroke cases, when rapid decisions and timely treatment can significantly affect a patient’s recovery. Beyond the recognition itself, the award underscores the importance of maintaining a high level of readiness and continuously improving stroke care practices. It also serves as a reminder that quality emergency care is a collective effort—one that depends on skilled professionals, effective systems, and a shared commitment to patients and their families.

THROUGH the Asian Learning Institute, the institution strengthened its role in healthcare education through the Advances in Learning and Innovation Series: Postgraduate Course, “Universal Health Care: A Basic Course for Private Practitioners.” The program brought together private practitioners and healthcare professionals for a deeper discussion of the evolving Universal Health Care (UHC) landscape and the role of the private sector in building a more accessible, coordinated, and responsive healthcare system. The course featured insights from Dr. Madeleine Valera, Dr. Lilibeth David, Dr. Lea Elora Conda, Dr. Suzana Marie Bulos, and Mr. Edwin S. Morata. Their discussions covered UHC policies and implementation, professional practice, healthcare networks, and opportunities for greater collaboration between the public and private sectors. The sessions emphasized that the success of UHC requires more than policies and programs. It also depends on healthcare professionals who understand the system, continuously update their knowledge, and work collaboratively across sectors. For participants, the course provided an opportunity to better understand how their individual practices fit into the larger healthcare landscape and how stronger collaboration can contribute to better access and delivery of care. Through the Asian Learning Institute, the institution continues to support lifelong learning and professional development, recognizing that strengthening healthcare also means strengthening the people who deliver it.

A Continuing Journey

TAKEN together, these milestones tell a larger story of an institution that continues to evolve while remaining grounded in the people it serves. Whether through transforming the workplace, caring for women and families, preparing the next generation of physicians, responding to life-threatening emergencies, or expanding healthcare knowledge, each achievement contributes to a broader culture of excellence. The journey continues—not simply through awards and milestones, but through the everyday work of people who strive to make healthcare more responsive, compassionate, and meaningful for every patient.

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child rights groups seek DTI Prostate cancer care moves toward less Health, sanctions over alleged vape law violations invasive diagnosis, surgery, recovery P By Rizal Raoul Reyes Contributor

By Anne Ruth Dela Cruz

INGAPORE—For many men, a prostate cancer diagnosis can bring immediate fears about surgery, lengthy hospital stays and a difficult recovery. But advances in urology are changing that picture. From more targeted ways of diagnosing prostate cancer to robotic surgery performed through fewer incisions, specialists at Singapore General Hospital (SGH) are exploring ways to make treatment less invasive while maintaining cancer control and patient safety. These developments were discussed during a recent media visit to Singapore, where journalists from the Philippines, Indonesia, Malaysia and Vietnam took part in the “Advanced Clinical and Innovation Programme in Urology” at SingHealth Tower. The program brought together SGH specialists to discuss prostate cancer, benign prostatic hyperplasia (BPH), kidney stones and kidney cancer, as well as research and robotic-surgery training across Southeast Asia. At the heart of the discussions was a common theme: modern urology is moving away from one-size-fits-all treatment toward approaches tailored to the patient.

Rethinking prostate cancer diagnosis

A/PROF. John Yuen Shyi Peng, Head and Senior Consultant of the Department of Urology at SGH, described how the prostate cancer journey is evolving from diagnosis to treatment and recovery. One area being explored is whether some patients with highly suggestive imaging findings can proceed directly to surgery without undergoing a separate biopsy. The approach remains investigational and is intended only for carefully selected patients whose magnetic resonance imaging (MRI) and prostatespecific membrane antigen (PSMA) scan findings meet strict criteria. In an initial series of 15 patients who met those criteria, post-surgical analysis confirmed prostate cancer in all 15. The approach could potentially spare selected patients the discomfort, risks and costs associated with a separate biopsy, but careful patient selection remains essential. For patients who do require a biopsy, SGH has developed a roboticassisted transperineal approach. Instead of passing the needle through the rectum, the biopsy is performed through the skin between the scrotum and anus. This provides a cleaner route and substantially reduces infection risk. The system was developed in Singa-

THE Urology Oncology team of doctors of Singapore General Hospital led by A/Prof. John Yuen Shyi Peng, Head and Senior Consultant of the Department of Urology (bottom right) SINGAPORE GENERAL HOSPITAL WEBSITE

pore and subsequently commercialized, and is now used in centers across Asia, Australia and Europe, including hospitals in the Philippines.

Making prostate surgery smaller

THE changes continue into the operating room. SGH performs robotic-assisted prostate cancer surgery using an extraperitoneal approach, meaning the surgeon operates outside the abdominal cavity rather than through the area containing the intestines. The approach is intended to reduce intestinal disruption, potentially allowing patients to eat, walk and recover more quickly. For suitable patients, the number of incisions can also be reduced. While conventional robotic prostate surgery may involve five or six incisions, selected SGH patients may undergo reduced-port or single-port procedures using one to three incisions. And despite the sophistication of the technology, the surgeon—not the robot—remains in control. “The robot does not perform the operation autonomously,” Yuen said, explaining that it is a surgical tool controlled by the surgeon, who makes the clinical and operative decisions. The hospital has also developed a pathway allowing suitable patients to leave within 23 hours. About 90 percent of patients assessed under the pathway meet discharge criteria within that period, provided they can eat, drink and walk independently, have adequate pain control and show no significant complications. For international patients, recovery planning includes catheter removal, follow-up and coordination with doctors in their home countries before they fly home. SGH performs about 300 prostatectomies annually, with around 20 to 30 percent of patients coming from overseas. The emphasis on early detection remains critical. Yuen noted that international guidelines generally recommend discussing PSA screening with a doctor from around age 45, particularly for men with a strong family history or other risk factors.

Detecting prostate cancer at earlier stages provides the best opportunity for effective treatment.

BPH: It’s not always about prostate size

DR. Edwin Aslim, Consultant in SGH’s Department of Urology, discussed another common men’s health concern: benign prostatic hyperplasia, or BPH. His message was clear: prostate size alone does not determine the severity of urinary obstruction. A relatively small prostate can cause significant blockage depending on its shape and location, while a larger prostate may cause less obstruction. Prolonged obstruction can gradually damage the bladder, eventually leading to urinary retention. Treatment has therefore become increasingly individualized, ranging from medication and minimally invasive procedures to tissueremoving and laser operations. There is a trade-off. Minimally invasive treatments may offer faster recovery and better preservation of ejaculation, while tissue-removing procedures generally provide greater and more durable improvements in urinary flow but are more likely to affect ejaculation. Aslim also cautioned that frequent nighttime urination should not automatically be blamed on the prostate. Nocturia can have several causes, including sleep apnea, heart or kidney disease, diabetes, fluid retention, caffeine and alcohol.

Smaller tools for kidney stones

DR. Du Jingzeng, Consultant in SGH’s Department of Urology, discussed how kidney-stone treatment is also moving toward smaller instruments and less invasive procedures. Modern options include flexible ureteroscopy, laser fragmentation, mini-percutaneous nephrolithotomy (mini-PCNL), tubeless procedures and combined approaches for complex stones. In 2025, SGH performed more than 430 ureteroscopic laser stone procedures. More than 80 percent of patients stayed in hospital for one day or less, while nearly 60 percent went home on

the day of the procedure. But treatment is not simply about removing the stone. Specialists also look at why stones formed and how recurrence can be prevented, while protecting long-term kidney function.

Kidney cancer: preserving kidney function

DR. Lim Ee Jean, Consultant in SGH’s Department of Urology, highlighted another important change: discovering a kidney tumor does not automatically mean removing the entire kidney. Many tumors are found incidentally during imaging for unrelated conditions. Depending on the tumor and the patient’s condition, treatment may include active surveillance, cryoablation, radiation, partial kidney removal or complete nephrectomy. When surgery is necessary, robotic techniques can help surgeons operate around major blood vessels while preserving healthy kidney tissue. The goal is to balance three priorities: remove the cancer, keep the patient safe and preserve as much kidney function as possible.

Sharing expertise across the region

THE Singapore visit also underscored that advances in urology extend beyond the hospital’s operating rooms. SGH specialists conduct research, validate new techniques and share their expertise with doctors across Asia. Its stone team, for example, has conducted hands-on workshops since 2022 focusing on minimally invasive procedures such as mini-PCNL and ECIRS. For patients, the innovations discussed during the visit—from targeted prostate diagnosis and reduced-port robotic surgery to minimally invasive stone treatment and kidney-sparing cancer surgery—point to the same goal: finding the right treatment for the right patient while minimizing disruption to life. In modern urology, success is no longer measured simply by whether the disease has been treated. It is also about how safely, precisely and quickly patients can return to living their lives.

The ₧592-B question: Why CKD is still detected too late By Dr. Greta Cortez

ANY patients are only diagnosed with chronic kidney disease (CKD) when symptoms are already advanced. By the time they seek consultation, the disease has often progressed to a stage where treatment is not only complex, but significantly more costly. This is not just an individual patient story. It reflects a broader national pattern. CKD affects an estimated 13 million Filipinos, many of whom remain unaware they are already living with the condition. The result is a staggering P592 billion economic burden representing 41 percent of the country’s healthcare expenditure—one that is driven not only by the disease itself, but by how late it is diagnosed. The scale of the challenge is difficult to ignore. Recent research commissioned by Boehringer Ingelheim suggest that as many as 35.9 percent of Filipino adults may already be living with CKD, more than double the global average. Every hour, another Filipino progresses to chronic renal failure, further increasing the burden on families and the healthcare system. Perhaps the more uncomfor table

Dr. Greta Cortez Head of Medicine Boehringer Ingelheim Philippines

question is this: if CKD can often be detected years before symptoms appear, why are so many Filipinos still being diagnosed only after the disease has already progressed? CKD develops gradually and often without noticeable symptoms in its early stages. Without proactive screening, it can remain undetected for years. When symptoms finally appear, kidney function has often declined significantly. Yet opportunities for earlier detection already exist. CKD is closely associated with conditions such as diabetes and hypertension, which are routinely managed in primary care. This

means the opportunity for earlier detection already exists within the system. Despite this, screening for kidney disease is not yet consistently integrated into everyday clinical practice. This missed opportunity is particularly concerning given that CKD is already among the country's top five causes of disease burden, alongside ischemic heart disease, stroke, and diabetes. Yet kidney damage often remains undetected until later stages, when treatment options become more complex and costly. The cost implications are significant. Early-stage CKD can often be managed at approximately P42,000 per year, through regular monitoring and appropriate medical management. At this stage, the focus is on slowing progression and maintaining kidney function. The financial gap widens dramatically as the disease advances. Research shows that direct medical costs increase approximately eleven-fold between early and advanced stages of CKD, illustrating how delayed diagnosis can quickly translate into significantly higher healthcare spending. In contrast, costs increase substantially as the disease advances, with renal replacement

therapies such as dialysis or transplantation costing over P400,000 annually in direct medical expenses alone, excluding additional non-medical and indirect costs. Care becomes long-term, resource-intensive, and life-sustaining. This represents a several-fold increase in cost—even before accounting for indirect costs such as lost productivity and longterm care. When viewed at a national level, this creates a pattern where more resources are naturally directed toward advanced disease. Over time, the P592 billion burden reflects this imbalance—not only in disease prevalence, but in how care is distributed across stages of illness. Importantly, the tools for early detection are already available. Tests such as urine albumin-to-creatinine ratio (uACR) and estimated glomerular filtration rate (eGFR) are simple, widely recommended, and clinically validated for identifying kidney damage at an early stage. However, these tests are not yet routinely integrated into primary care screening in many settings. See “CKD,” C2

UBLIC health and children’s rights groups have filed three separate complaints against a nicotine pouch brand and a heated tobacco product (HTP) company, urging the Department of Trade and Industry (DTI) to impose sanctions over alleged illegal promotional and distribution activities that they say violate Republic Act No. 11900, or the Vape Law. The complainants alleged that the companies violated the Vape Law through prohibited sponsorships and promotional activities. They also questioned one brand’s reported lack of registration with the DTI despite its nicotine pouches being actively marketed in the Philippines. Under Republic Act No. 11900, no vaporized nicotine or novel tobacco product may be manufactured, imported, distributed, or sold legally without prior registration and certification from the DTI. “These violations involving ZYN and IQOS are not isolated incidents; they reflect a recurring pattern of noncompliance by the tobacco industry. These brands continue to insert themselves in cultural, artistic, and entertainment spaces, positioning their products as part of a desirable lifestyle. Worse, one of these brands has been reported to be promoting and distributing a product that has no registration or certification under the law. Immediate regulatory action from the DTI is needed to put an end to these dirty industry tactics and to reaffirm the government’s mandate to protect the health of its people,” said Rizza Duro, national coordinator of the Philippine Smoke-Free Movement.

Promotional presence

ONE of the complaints cited the promotional presence of ZYN and IQOS during the Sinulog Festival in Cebu City in January. The groups argued that sponsorship of a major cultural event violates Section 14(a) of the Vape Law and exposes children and families to tobacco marketing in a setting that is both childcentered and culturally significant. “These cultural events are widely attended by families and children, which makes any form of tobacco promotion illegal. Even with its limited provisions to protect children and young people, the Vape Law clearly prohibits the promotion of harmful tobacco products in spaces meant to be safe for children. The DTI must do its duty and act against the industry’s disregard for children’s rights, public health, and the integrity of our cultural spaces,” said Au Quilala, spokesperson of the Child Rights Network (CRN) and executive director of the Philippine Legislators’ Committee on Population and Development (PLCPD). Another complaint centers on IQOS Philippines’ collaboration with local artist Isabel Santos. The groups argued that the campaign associated IQOS products with art and culture and amounted to a prohibited public figure endorsement under the Vape Law. “It is disheartening to see artistic spaces

being infiltrated by the tobacco industry. These platforms have a significant reach among young people, and if such violations are allowed to bypass the law without sanction, more young people will be exposed and influenced by their harmful and deadly products,” said Judy Delos Reyes, project leader of Parents Against Vape.

Regulatory action

THE complainants also noted that affiliates of Philip Morris Fortune Tobacco Corp. (PMFTC) and IQOS Philippines had previously been subjected to regulatory action over the promotion of the “Steve Aoki Live” event in Taguig. “It is clear that companies like PMFTC and IQOS will continue to violate the law if left unchecked. As the primary regulatory body for vape and tobacco products, the DTI must impose appropriate sanctions and even higher-tier penalties due to repeated noncompliance. Failing to do so risks enabling future violations,” said Atty. Sophia Monica San Luis, executive director of ImagineLaw. “Every day these unregistered nicotine products remain on shelves, we are normalizing addiction and failing our children. These products exploit regulatory gaps and weaken public confidence in the law. The government must act decisively—we cannot allow another entirely preventable epidemic driven by the tobacco industry to take hold in our country,” said Dr. Maricar Limpin, executive director of Action on Smoking and Health (ASH) Philippines. While Republic Act No. 11900 designates the DTI as the regulator of vaporized nicotine and novel tobacco products, the Food and Drug Administration (FDA) retains jurisdiction over their health-related aspects.

Widely available

“IT is alarming to see such products widely available in the market without proper registration. Nicotine products already pose known health risks—what more for those that have not been approved by the FDA? Allowing these unregistered products to persist in the market poses a significant threat to public health, as it exposes users to unknown and potentially harmful ingredients that have not been evaluated by health authorities. We urge the DTI to act urgently, as the health of Filipinos is at stake if ZYN pouches and similar products continue to proliferate in our markets,” said Dr. Jaime Galvez Tan, board member of HealthJustice and former Health secretary. The complaints were filed by the Philippine Smoke-Free Movement, the Child Rights Network, the Philippine Legislators’ Committee on Population and Development Foundation Inc., Action on Smoking and Health Philippines, ImagineLaw, Parents Against Vape, Youth Against Vape, and HealthJustice. The groups said they are seeking immediate regulatory action, including the imposition of appropriate penalties against the companies over the alleged violations of the Vape Law.

PhilCare, Hi-Precision Diagnostics partner to launch ‘Precision Care’ Healthcare Plans

HILCARE, a premier Health Maintenance Organization (HMO) in the Philippines, has announced a landmark partnership with Hi-Precision Diagnostics to introduce the Precision Care product line. This collaboration aims to provide Filipinos with streamlined, technology-enabled healthcare plans that combine emergency coverage with the diagnostic expertise of Hi-Precision’s nationwide clinic network. H i - P r e c i s i o n D i a g n o s t i c s i s IS O 9001-certified and is the leading provider of quality and affordable diagnostic healthcare services in the Philippines. “This partnership strengthens our commitment to making healthcare smarter,” said PhilCare President and CEO Jaeger Tanco. “By integrating Hi-Precision’s diagnostic excellence with our comprehensive emergency coverage, we are providing Filipinos with a holistic health solution that is both accessible and efficient.” The Precision Care series is designed for individuals aged six months to 65 years, offering a range of benefits tailored to modern medical needs. The partnership introduces three distinct variants—Basic, Plus, and Premium—each focused on delivering essential medical services like:

Emergency and Hospitalization Coverage

PROVIDES single-use coverage of up to P60,000 for emergency care and hospitalization due to viral illnesses, bacterial infections, and accidental injuries. Members have access to over 600 accredited hospitals nationwide.

Unlimited Medical Consultations

MEMBERS enjoy unlimited outpatient consultations with General Physicians and Family Medicine Specialists across all Hi-Precision Clinics nationwide.

Outpatient Laboratory Procedures

DEPENDING on the chosen variant, members receive an annual allowance for laboratory tests performed at Hi-Precision clinics ranging from P5,000 to P15,000. Through the partnership, PhilCare members benefit from a simplified customer journey. Registration is fully digital, while availment at Hi-Precision branches is powered by PhilCare Xpress, allowing real-time validation of coverage and remaining benefit limits. For more information about the Precision Care plans, visit the PhilCare website or scan the QR codes available at Hi-Precision branches nationwide.