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Monday, August 31, 2026 Vol. 21 No. 321
P. | | 7 DAYS A WEEK
THE WINDFALL IT SEEMS’ T
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@blessogerio
HE peso’s record slide past P62 to the dollar may boost the peso value of export earnings, but manufacturers say the gain is being offset by the higher cost of imported materials, machinery and fuel needed to produce those exports. The peso closed at P62.265 against the US dollar on August 28, the weakest level on record, after opening at P62.05 and touching an intraday low of P62.27, per the Bankers Association of the Philippines. The Federation of Philippine Industries (FPI) said the weaker currency is adding to cost pressures across manufacturing, particularly because much of the country’s export production remains tied to imported inputs. “With the peso breaching P62 to $1, industry is navigating multilayered pressures,” the group said in a statement on Friday. Electronics, which account for more than
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@andreasanjuan
ITH monetary policy having limited scope to support growth, the central bank governor, alongside some analysts, expect the national government to step up by utilizing fiscal space and improving the country’s potential output. At the policy meeting on Thursday, Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona Jr. upheld the Monetary Board’s decision to raise the key interest rate for the third meeting in a row this year despite the slower expansion of the Philippine economy. “It’s not the policy rate that’s preventing growth. The policy rate is low. It’s 4.75 percent before this increase. With an inflation rate, even
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58 percent of Philippine exports, illustrate the problem, FPI Chairperson Elizabeth Lee said. “Every chip we ship depends on costly foreign inputs. At P62 to the dollar, any FX (foreign exchange) gain is erased by the inflated peso cost of semifinished parts. Exporters are left with volume, but no real windfall,” Lee said. The same exchange-rate pressure is affecting companies planning to expand or upgrade their production capacity. Data from the Philippine Statistics Authority (PSA) showed that machinery and equipS “P,” A
NG’s turn to support growth, says BSP chief B A E. S J
FARM TOURISM COMES OF AGE
if we just use our target of 3 percent, the real interest rate is just 1.75 percent. So it’s not that high when you consider inflation expectations. We still have fiscal space and I think the national government is taking advantage of that,” Remolona said. The BSP governor explained that had the central bank opted not to raise the policy rate, “it wouldn’t have added significantly to growth.” Meanwhile, Remolona believes the government “has been working strenuously to accelerate infrastructure spending,” expecting growth to recover by the fourth quarter of 2026. “The fundamentals for growth are still in place. So once growth gets going, it will get S “BSP,” A
July retail prices climb on transport, food–PSA
NORTHERN Blossoms is a popular flower farm and tourist destination in Atok, Benguet, best known for its picturesque cabbage roses, which became an Instagram favorite after gaining popularity on social media. The farm showcases a diverse array of flowers throughout the year, with different varieties taking center stage as they bloom in their respective seasons. MAU VICTA C
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HE country’s growing farm tourism industry takes on higher ground, quite literally, as it goes to Baguio for the 9th International Farm Tourism Conference. This was how the International School of Sustainable Tourism (ISST) introduced
for the first time the conference in Baguio with the theme “Highland Harvest: Cultivating Sustainable Agriculture and Tourism. ISST held its first farm tourism conference in 2014 in Daet, Camarines Norte and has since gone around in the lowlands and coastal areas like Tagaytay, Iloilo, Cebu, Bohol and General Santos. Farm tourism has been the mission of ISST and its president Mina Gabor has since been indefatigably
pushing for its promotion. Farm tourism is defined as the practice of drawing visitors and tourists to working farms or fishing areas for production, educational and recreational purposes, that can provide both farm and community some income. In a press conference, she said what was important is the creation of a knowledge base for those S “F,” A
ETAIL prices in Metro Manila rose further last month, new data from the Philippine Statistics Authority (PSA) showed. Data from the PSA’s General Retail Price Index (GRPI) in the National Capital Region (NCR) showed that price growth climbed to 4 percent in July 2026, higher than the 3.8 percent recorded in June. In July last year, the GRPI was at only 0.8 percent. The latest reading brought the year-to-date average to 3.4 percent, the PSA said. According to the statistics office, the acceleration was driven by higher prices of machinery and transport equipment, which rose to 3.9 percent from 3.7 percent in the previous month. Faster price increases were also seen in the indexes of food, at 3.2 percent from 3.1 percent; beverages and tobacco, at 2.1 percent from 2 percent; and chemicals, including animal and vegetable oil fats, at 3.5 percent from 3.2 percent. Prices of manufactured goods classified chiefly by materials also rose to 2.2 percent from 2 percent, while miscellaneous manufactured articles increased to 1.2 percent from 1.1 percent. Meanwhile, the PSA said price C A
‘Pilandok,’ habagat to cause more rains B J L. M
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@jonlmayuga
HE low-pressure area over the east of extreme Northern Luzon has developed into a Tropical Depression, threatening land hazards in Luzon, Visayas and Mindanao, as the southwest monsoon continues to swamp Luzon with moderate to heavy rains that have forced many arreas under severe flooding, the weather bureau said. As of Sunday, August 30, 2026, the combined effects of serial weather disturbances and the enhanced southwest monsoon, locally called ‘habagat’ have left 31 dead, with damage to infrastructure estimated as no. less than P6
billion and to farms, P2.3 billion. At least 117 cities and towns were placed under a state of calamity. The Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) said the “habagat” will bring strong to gale-force gusts over most of Luzon and Visayas, Zamboanga del Norte, Misamis Occidental, Lanao del Norte, Misamis Oriental, Camiguin, Dinagat Islands, Davao Occidental, and Davao Oriental until Tuesday, September 1. As of 11 a.m., Pilandok was spotted 1,210 km East of Extreme Northern Luzon, packing maximum sustained winds of 45 km/h and S “P,” A
REMEMBERING BONIFACIO On National Heroes Day, the Bonifacio Shrine in Maragondon,
Cavite, recalls the site where Gat Andres Bonifacio and his brother Procopio were executed on May 10, 1897, marking one of the most difficult chapters in the Philippine Revolution. The historic site offers a quiet moment to reflect on Bonifacio’s life, his role in the struggle for independence, and the many layers of history surrounding his final days. As the nation honors its heroes today, discover more stories of courage, sacrifice and nationhood in our National Heroes Day special supplement inside today’s issue. NONIE REYES
PESO EXCHANGE RATES US 61.7640 ■ JAPAN 0.3876 ■ UK 84.0423 ■ HK 7.8799 ■ SINGAPORE 48.6178 ■ AUSTRALIA 44.4330 ■ SAUDI ARABIA 16.4507 ■ EU 71.9859 ■ KOREA 0.0448 ■ CHINA 9.1911 Source: BSP (August 28, 2026)
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Monday, August 31, 2026
Tieza...
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‘No construction of big structures’
MEANWHILE, in a post on her Facebook page on August 26, Robredo said the Mt. Isarog project “will rehabilitate or repair structures originally built by the Department of Environment and Natural Resources, many of which have already deteriorated due to years of neglect and underutilization.” She added that the project is being pursued not only to promote Mt. Isarog as a tourism destination but, more importantly, to help preserve its ecology. “Preservation of the ecology at Mt. Isarog is a component of the project,” said Robredo said. The mayor noted, however, that they didn’t want over-tourism in Mt. Isarog. Instead, the project that Tieza will fund, will focus on enhancing existing facilities and providing more opportunities for adventure activities without damaging the environment. “There will be no construction of big structures or facilities,” she said, emphasizing that the goal is to promote tourism, while protecting the natural environment. Lapid also visited Naga to inspect other Tieza-supported projects in the Bicol region, including the ecotourism project in Pasacao, Camarines Sur, as well as the Peñafrancia Museum, which is nearly completed. Aside from Mt. Isarog, the annual Peñafrancia Festival, which honors the Our Lady of Peñafrancia, attracts millions of visitors to Naga. The latter, held every September, is reputed to be the largest Marian celebration in Asia.
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RETAIL ERC okays removal of 12% JULY PRICES ON VAT on system loss charge CLIMB TRANSPORT,
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@llectura
HE Energy Regulatory Commission (ERC) has approved a resolution to remove the 12-percent value added tax (VAT) on system loss charge, resulting in lower electricity costs for consumers.
“The allowable system loss charge is a government-mandated pass-through cost. It is therefore appropriate that it should not form
part of the VAT base,” said ERC chairperson Francis Saturnino Juan. System loss refers to electricity that has been generated and paid for
Farm...
farmers is 57 years old, even younger in Cordillera, at 55 years old. And will the young ones take over? That’s a hard question. On a road trip to Benguet farms, this writer also heard and observed farmers encouraging their children to pursue what to their minds were more lucrative courses. And there are the young themselves immersed in an internet generation where progress equates to the speed of digital information and tilling the land is seen as backward and bereft of economic opportunities. Gabor sees the solution in starting them young. She prodded the education department to promote the interest of young students in agriculture through farm tourism. Agriculture must be part of the curriculum, to include field trips to farms, so that the young will become aware that farming is not just about planting and harvesting, but also about enterprise and product development, which is enticing to the young. The older generation need not fade away, too. In interviews she made among farmers living near the
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involved in agriculture to be able to create a solid program that is not wasteful. The conference in March covered the status and potential of agricultural industries like coffee, fishery, ornamental flowers and systems needed to upscale farm tourism like branding, cultural heritage, marketing and exporting. Included also were talks on climate change and biodiversity. But it was the tangible responses farm tourism offers to prevailing woes in agriculture Gabor discussed in a press conference that felt meaningful and most relevant. On this, Gabor and ISST movers brought in experiences and best practices from other places that may also work on the local level. Among these main threats is the ageing population of farmers. Cordillera tourism regional director, Jovy Ganongan said the average age of the country’s
but is physically lost during the distribution of electricity before reaching end-users. Under the existing regulatory framework, only allowable system losses within the ERCprescribed caps may be recovered through the system loss charge reflected in electricity bills. System losses incurred in excess of the approved caps remain non-recoverable from consumers and must be borne exclusively by the concerned distribution utilities (DUs). Under the resolution, the allowable system loss charge will not form part of the gross sales subject to the 12 percent VAT under the National Internal Revenue Code (NIRC) of 1997, as amended. The resolution, however, needs to be confirmed by the BIR.
“The exclusion shall apply prospectively following the publication of the resolution and upon effectivity of the appropriate confirmatory issuance from the BIR,” the ERC said. Likewise, the ERC is requiring all DUs to modify their billing formats to separately and distinctively the system loss charge a government-mandated line item that is not subject to VAT. “By clarifying the regulatory nature of the charge, the ERC emphasizes that the system loss charge, represents the recovery of costs associated with allowable system losses under the regulatory framework, rather than revenue earned from the sale of electricity of the provision of services,” the agency said.
Kinatabangan River in Sabah, Gabor found that older farmers acted as historians because they could even predict the weather. “Old experience makes the link between the old and young important,” she said. Another aspect the young find exciting is edible landscaping, which is now in some schools. “We have reached up to the Visayas and by the last count, one part of Southern Luzon,” said Gabor Asked about the intrusion of agriculture into forest land which is a serious concern in the region, Gabor cites a practice in Costa Rica which she has already communicated to the Department of Environment and Natural Resources. All around the huge rainforest reservation in Costa Rica are farmlands the government gives free and farmers can keep the income they derive from tilling the land. In return they act as stewards of the forest so no hunting nor destruction occurs in the protected area. She believes this can be a way to protect Sierra Madre while also helping farmers. Places can also be designated as sacred where elders call a ceremony and declare the place sacred, with rules like being clean when entering the place. She cites a place in Indonesia where a spot has been protected and treated as sacred for the last 15 years through this practice.
Taiwan, Malaysia, Indonesia where I conducted training on farm tourism. We have been giving ecotourism courses at ISST and holding conferences for more than a decade to promote farm tourism,” he said. ISST is the only school in Asia-Pacific that offers courses in sustainable ecotourism. The good news is that ISST is now coordinating with CHED for the development of a four-year Bachelor of Science for Sustainable Tourism Management course. They are completing the documents and looking at places to hopefully get it off the ground and have the first batch by next year. Urban farm tourism, Gabor said, is one of the most important trainings they have. She cites Paranaque where after the ‘riles ng train’ portion was fixed, there are now farms and they have produce given to school children. In fact, in urban agriculture where space is a concern, this may not demand a large area. In Manila, she cited three mushroom producers occupying only about 50 sqm who earn some P65 thousand a month. They are not just in production but also in processing, and people watch the process. “The important thing is to get started, even in small ways, and people will follow,” she said. Farm tourism also brings people to the product, which costs less rather than bringing the product to the market. Gabor’s relentless enthusiasm and persuasive passion has also earned government support for farm tourism. In 2015, she met with then Senator Cynthia Villar to convince her that farm tourism is the answer to the problem of ageing farmers and farmers who give up and turn to more reliable sources of income like carpentry or construction work. In November of that year, Villar called for a public hearing where Gabor brought all the supporting documents and some 20 people who were into farming to join her. On May 16, 2016, six months after the hearing, the late then President Benigno ‘Noynoy’ Aquino 111 signed into law RA 10816 or the Farm Tourism Development Act. This RA offers tax privileges and support programs for accredited tourism farms. More recently, on February 16 of this year, the agriculture, trade and tourism departments launched the Strategic Action Plan for Farm Tourism 2016-2031 which expands agritourism from policy
ISST dedication to farm tourism
THE establishment of the ISST is by itself a significant move in strengthening farm tourism. The school started offering only a certificate program with three courses: Farm Tourism 101, Marketing and Finance, Marketing and Promotion. “Today we have 16 courses, one of which is the edible landscape,” she said. “Edible landscaping, designing areas instead of the usual horizontal plots, brings out the passion and creative side of the students, so it is passion complemented by action,” she explained. ISST Board Director Dr. Jose “Jojo” Bernardo brought his experiences from his leadership roles at the Tokyo, Japan—based Asian Productivity Organiztion (APO) to the ISST. He was director of the APO agricultural department where he spearheaded initiatives in sustainable agriculture, and one of his key projects was promoting rural ecotourim. Together with a colleague, he developed a farm tourism program, which he brought home with him after retiring from ATO. “I’m bringing to ISST my experiences in Japan,
Peso...
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ment accounted for 27.9 percent of imports in the first seven months, meaning a weaker peso also raises the peso cost of factory upgrades and other capital spending. “Firms face a stark choice—delay upgrades or borrow at higher cost. Yet industry remains committed to modernization, provided relief measures are in place,” Lee said. Fuel adds another layer to manufacturers’ costs. Mineral fuels, including crude oil, coke and coal, made up 19.4 percent of imports during the period, exposing businesses to both global energy prices and exchange-rate movements. “Unfortunately, we are a price taker here—but we can act to reduce inefficiencies at home,” Lee said. The exposure is reflected in the country’s widening trade gap. Government statistics data showed that imports reached $92.26 billion from January to July, compared with $54.92 billion in exports, resulting in a $37.34-billion trade deficit. Both export and import values were the highest recorded for the period since the PSA’s trade series began in 1991.
The ‘winner’ does not take it all
THE weaker peso may be handing some businesses a win, but at P62 to the dollar, the broader business sector is also absorbing higher costs, according to the Management Association of the Philippines (MAP). MAP President Donald Patrick Lim said exporters, business process outsourcing (BPO) firms, tourism businesses and dollar earners benefit from higher peso returns on foreign-
currency revenues, while Overseas Filipino worker (OFW) remittances gain purchasing power. “But for a large part of the domestic economy, the other side of the equation is becoming more important,” Lim told BUSINESSMIRROR in a message. More than 85 percent of imports consisted of raw materials and intermediate goods, capital equipment and mineral fuels, based on PSA data. For Lee, this dependence could also push up consumer prices as businesses absorb higher landed costs. “With raw materials and energy as essential imports, the peso’s slide past P62 can fuel cost-push inflation. Rising input costs will cascade from wholesale eventually into retail prices, even as rate hikes attempt to slow demand,” she said. The Bangko Sentral ng Pilipinas (BSP), meanwhile, projected August inflation at 5.5 percent to 6.5 percent. Lim said imported fuel, machinery, technology, raw materials and intermediate goods raise operating and replacement costs when the peso weakens, compounding pressure from already elevated inflation. “Businesses can absorb higher costs only for so long. Eventually, companies either have to raise prices, accept lower margins, find cheaper inputs, or postpone certain expenditures,” Lim said. “For MSMEs with limited ability to hedge foreign-exchange exposure or negotiate better supplier terms, the pressure can be even greater,” he added.
Needed adjustments
RATHER than relying solely on the exchange rate to absorb the shock, the government could reduce domestic costs that add to manufacturers’ expenses, the FPI said. The group proposed easing nontariff barriers during periods of exchange-rate volatility,
FOOD–PSA C
growth slowed in the index of mineral fuels, lubricants, and related materials, easing to 27.6 percent in July from 28.3 percent in the previous month. Retail prices of crude materials, inedible except fuels, retained their June growth rate of 5 percent, the PSA added. The GRPI measures changes in the general level of prices at which retailers sell goods to consumers or end-users, making it a key indicator of consumer inflation trends in the region. into execution. This six-year roadmap links farming directly with tourism and gastronomy and encourages hotels and restaurants to buy directly from local farmers. It also aims to make the country a top farm and food destination across Asia. Already, Gabor says that 30 percent of tourists go to farms with about 100,000 visitors at the peak of summer. Despite the potential, by 2023, only 231 farms have been accredited by the Department of Tourism (DOT). ISST, meanwhile, has identified 800 good farming sites. To boost the number, ISST organizes farms for organic agriculture training, a requirement for accreditation. The Cordillera region, which fills 80 percent of the country’s demand for high- value crops, ironically has only 25 farms accredited for farm tourism. Farmers here can take inspiration from the success stories of Northern Blossoms, a must-go destination in Benguet; the Cosmic Farm of Rogel Marzan, now a Tesda- accredited training center for organic farming; and the Living Gifts Nursery that has the biggest collection of cacti specie in the country, for they all started in simple and small ways
For the love of it
DESPITE over a decade of tireless pursuit of farm tourism, Gabor thinks of it as always exciting as every step of the way, every story heard gives a new learning. She has her own story to tell on how old wisdom can be steeped in superstition. As children at her grandmother’s house, they used to throw slippers at a bees’ nest to drive them away, and her grandmother would scold them as the nest brings good luck, although she could not say how. In time, Gabor understood the sound science behind it–where bees build their colony indicate a balanced ecology. “Every province has their own anecdotes to tell. We learn from them more than what we teach them,” Gabor said. Farm tourism promises economic and environmental gains, but its real charm and allure seems to lie in nostalgia, Gabor said that when people were asked why they go to farms, visitors would say it’s because they miss the old and simple ways. With all the stress and complexities of modern life, farms offer the refreshing simple needs of life—fresh air, clean food and the joys of sharing and storytelling.
including faster clearance of manufacturing inputs and fewer administrative delays. “Expedited clearance for manufacturing inputs and removing administrative delays can reduce demurrage, storage, and port handling fees—directly offsetting foreign exchange landing cost increases,” Lee said. If the peso remains at around P62 or weakens further, MAP expects businesses to become more cautious in both pricing and investment decisions. Companies may stagger price increases rather than make one large adjustment, intensify efforts to source locally, renegotiate contracts, and defer dollar-denominated equipment purchases or expansion plans where possible. Businesses with significant foreigncurrency obligations will also have to pay much closer attention to their balance sheets and currency exposure. From MAP’s perspective, what businesses need most is not necessarily a particular pesodollar level but stability and predictability. “Companies can plan around P60, P61 or even P62 if movements are orderly and economic policy remains credible,” Lim told this newspaper. “What is much more damaging is rapid and sustained depreciation because it makes costing, pricing, investment and financial planning much more difficult,” he added. Lim also pointed to a longer-term structural challenge: strengthening domestic production and reducing unnecessary dependence on imported inputs, particularly in energy, food and other strategic sectors. “A competitive economy cannot permanently rely on a favorable exchange rate. Our objective should be stronger productivity, deeper domestic supply chains and businesses that can compete regardless of where the peso trades,” he explained.
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Monday, August 31, 2026
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Calls to protect Sibuyan from mining snowball
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By Jonathan L. Mayuga
@jonlmayuga
ALLS to protect Sibuyan Island from destructive mining activities continue to gain support from various stakeholders.
Last week, led by Sibuyan’s local officials, a petition appealing to protect Sibuyan, signed by over 31,000 individuals from Romblon,
was formally turned over to Environment and Natural Resources Secretary Juan Miguel T. Cuna. The petition is in support of
calls to protect Sibuyan Island, particularly from large-scale metallic mining, and to act on the pending petition to cancel the Mineral Production Sharing Agreement (MPSA) of Altai Philippines Mining Corporation (APMC). Of these, 27,000 signatures came from Sibuyan Island—roughly 77 percent of the island’s voting population—while another 4,000 came from Tablas Island, demonstrating broader province-wide support for Sibuyan’s protection. The signatures were formally turned over by Romblon Gov. Trina A. Q. Firmalo-Fabic, Sangguniang
Panlalawigan Member Cary V. Falculan, and San Fernando Mayor Fernando U. Marin, together with representatives of Bayay Sibuyanon Inc., Sibuyanons Against Mining, Bantay ng Kalikasan ng Sibuyan, Nature Ambassadors of Sibuyan, and Alyansa Tigil Mina. Also submitted were recent resolutions and official actions from the Sangguniang Panlalawigan of Romblon; Sangguniang Bayan of San Fernando; the municipalities of Banton, Concepcion and Odiongan; and barangays Taclobo and España. Faith-based statements and resolutions were likewise present-
ed from the Romblon Ecumenical Forum Against Mining (Refam), Iglesia Filipina Independiente (IFI) Diocese of Odiongan, Clergy of the Diocese of Romblon, and Romblon Diocesan Council of the Laity (RDCL), together with statements from Catholic dioceses surrounding Sibuyan representing an estimated 9.6 million Roman Catholics. The turnover continues a long history of province-wide opposition to destructive mining. In 2012, 128,346 signatures gathered from across the province of Romblon were also formally submitted to the DENR, demonstrating
that the present call builds on more than a decade of organized public action to protect the province’s islands and natural resources. The delegation urged DENR to act on the pending petition for cancellation of APMC’s MPSA 304-2009-IVB, citing Sibuyan’s exceptional biodiversity and watersheds, local government actions, sustained community opposition, and the province’s policy direction toward environmental conservation, protection and rehabilitation, ecologically sustainable development, and climate and disaster resilience.
AFP eyes human Military officers set to testify in Sara impeachment trial smuggling in A raided steel mills M By Samuel P. Medenilla @sam_medenilla
ILITARY authorities are looking into the possibility that the steel mills that were recently raided were being used as possible points of entry for Chinese nationals who illegally enter and stay in the Philippines. In a forum over the weekend, the Armed Forces (AFP) spokesperson for the West Philippine Sea, Rear Adm. Roy Trinidad said: “These are possible points of entry ng mga [of the] undocumented Chinese nationals na pwede kumalat sa [who may deploy in the] area at magkaroon pa ng mas malaking [to pose bigger] threats sa ating [to our] security,” Trinidad said. Officials recently raided the Sanjia Steel Corp. in Misamis Oriental and found 69 Chinese workers, many of whom are undocumented. The Sanjia firm is one of five steel plants raided by the Presidential Anti-Organized Crime Commission and the National
Bureau of Investigation, with the AFP providing additional support. Trinidad said that Misamis Oriental steel factory was located near the Philippine Veterans Investment Development Corporation Industrial Authority estate, an Enhanced Defense Cooperation Agreement (Edca) site, the headquarters of the Army’s Fourth Infantry “Diamond” Division, and the Laguindingan International Airport. He likened it to how Philippine Offshore Gaming Operators were placed near critical government infrastructure. Trinidad said around 500 steel plants were closed in China due to substandard products and some of these were relocated to the Philippines. Authorities are still determining how these steel factories were established in the Philippines in such a short time, Trinidad said. Jane Magturo
Link of vaccine to baby’s death still unconfirmed
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EBU CITY—The Dumanjug Municipal Health Office (MHO) said the investigation into the death of a 7-month-old baby remains ongoing, with authorities stressing that there is still no official finding linking the infant’s death to the measles-rubella (MR) vaccine administered earlier this month. In its latest announcement, the Dumanjug MHO said it continues to coordinate with the Department of Health (DOH) and Cebu Provincial Health Office (PHO) to establish the circumstances surrounding the child’s death. The MHO said it has also ordered the collection and analysis of a water sample from the family’s household as part of its fact-finding efforts. “ Wala’y opisyal nga findings nga nagingon nga ang MR vaccine maoy hinungdan o nakatampo sa pagkamatay sa bata ,” the MHO said, emphasizing that the investigation has yet to establish any causal relationship between the vaccination and the death. The child received the MR vaccine on August 10 and died on August 24, prompting the family to raise concerns over a possible connection between the two events. According to the MHO’s initial review, the child had previously consulted the Dumanjug Primary Care Facility on July 9 for acute gastroenteritis without signs of dehydration. The child was treated and recovered, with no other consultation recorded before the Aug. 10 vaccination. Prior to the vaccination, the child under went health education and assessment, including the checking of vital signs and temperature. The caregiver consented to the vaccination, which was administered by a nurse. Post-vaccination
instructions were also given. The MHO said initial fact-finding showed that the child began experiencing diarrhea and vomiting on Aug. 23. The family reportedly resorted to self-medication using metronidazole. The symptoms persisted and were accompanied by fever the following morning, prompting the caregivers to seek medical attention. Records showed that the caregivers arrived at the Dumanjug Primary Care Facility at about 2:40 p.m. on Aug. 24. One caregiver initially asked at the registration area where to have the child checked because of the fever and was directed to the triage area. The MHO said the sequence of events following the child’s arrival—including the medical assistance provided, referral, and transportation—remains under review. The case was reported to the DOH Regional Epidemiology and Surveillance Unit on Aug. 25 as an adverse event following immunization (Aefi) for investigation. On Aug. 27, representatives from the DOH, Cebu PHO, and Dumanjug MHO conducted a case investigation at the Dumanjug Primary Care Facility and visited the family for dialogue and information gathering. The health authorities are also reviewing the condition of other children who received MR vaccines during the same vaccination activity to determine whether any similar symptoms or reactions were reported. Cebu PHO chief Dr. Sheila Faciol earlier confirmed that a provincial team had been deployed to Dumanjug to conduct its own investigation. The team was gathering information from the local health facility and Barili District Hospital, where the child was brought. Carmel Pedroza
RETIRED military officer a nd a not her one st i l l on active duty are set to testify in the next impeachment hearing of Vice President Sara Duterte at the Senate this week. The two will testify on the alleged misuse of confidential f unds of t he Depa r t ment of Education (DepEd), while Duterte led the agency. Retired Col. Manaros Boransing II and Col. Magtangol Panopio, will be presented as prosecution witnesses. Maj. Gen. Adonis Bajao was initially supposed to be included on the list of witnesses, but was later dropped by the prosecution “due to the difficulty in serving a subpoena.” Deputy Speaker Paolo Ortega V
is confident that the testimonies from Boransing and Panopio will be sufficient to give the full picture of what transpired in terms of the alleged misuse of confidential funds of DepEd. “We will be able to see how the funds were spent, where they went, why there are no receipts, and why there is no additional information regarding the utilization,” Ortega, who represents La Union, said in a statement. Aside from the alleged misuse of DepEd and Office of the Vice President (OV P) conf identia l f unds, Duter te is a lso being impeached for her a l leged unexplained wealth, and having Statement of Assets, Liabilities and Net Worth (SALN) discrepancies as well as threatening the lives of Marcos, First Lady Louise A. Marcos and Leyte Rep. Ferdinand Martin G. Romualdez.
Last week, Former Office of the Vice President Special Disbursing Officer Gina Acosta claimed that she disbursed the confidential fund of the OVP to Col. Raymund Lachica, the former head of the Vice Presidential Security and Protection Group. Ortega noted that Lachica should have not been involved in the use of confidential funds. “That’s not their job, to take [confidential] funds and then give that money away,” the lawmaker said. “Their job is to secure the Vice President,” he added. Hou se i mpeac h ment tea m adviser and spokesperson Ace Barbers stressed the importance of the testimonies from Armed Forces officers, active and retired, to protect the integrity of the institution. “If it turns out they were used
for the personal agenda of certain politicians, someone must be held accountable,” Barbers said. He also ex pressed concern on the reports from AFP on the involvement of foreign power in the spreading of “fake news” related to the impeachment trial and the flood-control issues. Some of the said fake news, Barbers said, were directed to members of Congress, who backed the impeachment of Duterte. A FP noted t hat some of t he misinfor mation involved t w ist i ng n a r rat ives to favor Beijing and attacking government officials, who oppose Chinese e n c r o a c h m e nt i n t h e We s t Philippine Sea. To avoid falling from such ploy, Barbers urged the public to watch the Senate impeachment proceedings so they can distinguish the truth from fake narratives.
RP-US MDT ‘cornerstone’ to peaceful Indo-Pacific
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HE Department of National Defense (DND) on Sunday said the Republic of the Philippines –United States Mutual Defense Treaty (RP-US MDT) remains a “cornerstone” of the two nations’ commitment to a peaceful and free Indo-Pacific Region. The DND issued the statement as the Philippines’ observed the 75th anniversary of the treaty. “As we commemorate the 75th anniversary of the PhilippinesUnited States MDT, we honor an alliance that has endured through generations and has evolved to meet the demands of an increasingly complex security environment. The Treaty remains a cornerstone of our shared commitment to peace, stability, and the defense of a free
and open Indo-Pacific,” it added. The DND said the strength of the alliance is evident in the success, sophistication, and growing scope of the two nations’ bilateral and multilateral exercises, engagements, and people-to-people exchanges. “From large-scale military exercises to operational coordination, capability development, maritime security cooperation, and humanitarian assistance initiatives, these efforts have enhanced interoperability, strengthened deterrence, and demonstrated our collective resolve to uphold regional security and stability,” it added. Likewise, recent bilateral and multinational engagements, including expanded defense cooperation activities, reflect the continuing evolution and deepening
of our partnership. “As we look to the future, we remain committed to building a more sustainable, agile, and productive partnership anchored on mutual respect, shared interests, and adherence to international law. Together, we will continue to advance a rules-based international order, safeguard freedom of navigation, strengthen regional resilience, and ensure that our alliance remains a force for peace, security, and prosperity for future generations,” the DND added. In a separate statement, the Armed Forces (AFP) on Sunday said the MDT is a cornerstone of the longstanding PhilippineAmerican alliance and defense and security cooperation. “For seven decades, the MDT
has provided a framework for sustained cooperation between the two countries, strengthening interoperability, enhancing defense capabilities, and contributing to peace, stability, and security in the Indo-Pacific Region,” it added. And through exercises, maritime security cooperation, humanitarian assistance and disaster response, and other engagements, the AFP and the US military continue to work together in addressing shared security challenges. “As we mark this milestone, the AFP reaffirms its commitment to further strengthen the alliance, enhance our defense capabilities and interoperability, and contribute to a free, open, peaceful, and secure Indo-Pacific,” the AFP said. Rex Anthony Naval
Jennifer Barzaga wins Dasmariñas special polls By Mary Jade Jadormio
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AYOR Jennifer Barzaga of Dasmariñas City was proclaimed as the winning candidate in the special elections called following the expulsion of her son Francisco from the House of Representatives in June. She got 201,893 votes, securing nearly 78 percent of the 258,361 votes cast. Barzaga’s vote count was more than six times that of her closest rival, Raul Rex del Rosario Mangubat, who received 30,373 votes. Jacinto Bautista Frani Jr. placed third with 24,350 votes, followed by Marvin Opamin Dupal-Ag with 1,184 and Leysander Aguilar Ordenes with 561. The Commission on Elect ions (Comelec) recorded a
57.75-percent voter turnout in the special election. Comelec Chairman George Erwin M. Garcia said the poll body extended voting by two hours on Saturday after voters remained outside polling places despite heavy rains. Voting, which was originally set to end at 3:00 p.m., was extended until 5:00 p.m. to accommodate voters who were still waiting to cast their ballots. “We do not regret extending the voting hours because at around 2:00 p.m. to 3:00 p.m., or an hour before the scheduled closing, we saw our fellow Filipinos still near the gates of the schools despite the very heavy rain,” Garcia said. “It would have been very unfair if they could not vote despite the fact that they braved the rain. That is why we decided to
extend the voting by two hours so that our fellow Filipinos would have nothing to complain about,” he added. Garcia also observed that younger voters appeared to be less visible at polling places, particularly those aged 18 to 35, compared with middle-aged and older voters. “I did not see that many young people. The voters I saw were mostly older and middle-aged,” Garcia said. “The young people, particularly those aged 18 to 30 or 35, were not that many,” he added. With the special election completed, Garcia said the Comelec is ready to conduct the next elections, saying it could hold the polls even within a week if necessary. “If you ask the Comelec, from one to 10, we are at number nine.
We are ready to conduct an election even on one week notice. We can conduct an election,” Garcia said. However, the poll chief said any decision to postpone the barangay and Sangguniang Kabataan elections or adjust the terms of elected officials rests with Congress. Garcia said the Comelec needs clarity on the matter before the September 28 to October 5 filing of certificates of candidacy, saying candidates should not be left uncertain about whether the elections will proceed after they file. “It would be unfair to those who will file their candidacies, or those who will expect that after filing their candidacy, the election will proceed, only to find out later that it will not,” Garcia said.
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www.businessmirror.com.ph
DOE set to issue coal transition policy
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By Lenie Lectura @llectura
HE Department of Energy (DOE) will soon come up with a coal transition policy to manage the shift toward renewable energy (RE) while prioritizing energy security and avoiding power brownouts.
“Our transition from coal must likewise be deliberate and supported by timely replacement capacity. We must reduce emissions without compromising reliability and affordability, while ensuring that affected communities and workers
are part of the transition,” Energy Secretary Sharon Garin said during the 15th Energy Smart Forum organized by the European Chamber of Commerce of the Philippines (ECCP) last week. When sought for more details,
Energy Undersecretary Rowena Guevarra said during the panel discussion that there are coal power plants currently operating below full capacity, triggering the rollout of a coal transition policy. She pointed out that in order to stabilize power supply, there is an urgent need to construct new facilities that are legally exempt from the current coal morator ium polic y. However, their compliance is inconsistent across the industry, noting that while some companies are moving forward with construction, others are failing to build despite being permitted to do so. The DOE ban on new greenfield coal power plants took effect in 2000, but the projects that secured certificates of non-coverage or
met substantial completion milestones prior to the ban are allowed to proceed. “We have the coal moratorium policy. We are coming up with coal transition policy,” said Guevarra. “You see, our existing coal plants are breaking down or are derated – they can’t operate at 100 percent capacity. Because of that, we need to build the plants that aren’t covered by the moratorium. They aren’t covered by the ban, yet they still are not building. That is why a coal transition policy is being rolled out. Some are obedient and are already building, but others are not,” she said. The potential capacity for these coal power projects that are not covered by the moratorium could reach anywhere from three to five
gigawatts (GW). Gueverra said these projects were approved and endorsed to the Energy Regulatory Commission (ERC) prior to the ban, have secured permits, have reached financial closure, and some under construction. “It involves about three to five GW—a significant amount. But the issue is, we don’t see them actually building,” Guevarra said. To prevent constant brownouts, the DOE proposed a contract termination mechanism for fossil fuel power plants, similar to existing renewable energy policies. Instead of monetary fines, failing to meet the committed work plan will result in project cancellation. “At the end of the day, we can’t just have constant brownouts.
Is there a penalty for those who haven’t built yet despite having made a commitment? That’s the difference—as I mentioned, RE has a clear work plan. “If they don’t comply, the contract is terminated. But for our fossil fuel power plants, there isn’t a mechanism like that. It’s not a monetary penalty; the ultimate penalty is contract termination. That’s the worst-case scenario because the project won’t push through. So, they will have a work plan too,” Guevarra said. The DOE will hold a series of consultations with industry players to tackle the proposed coal transition policy. “We have to fulfill our RE targets. But at the same time, energy security is on top of that,” she said.
Living wage for workers now urgent–senator Camarines Sur Trade fairs get launches Uptown project a near-half sales T target bump–DTI T By Butch Fernandez @butchfBM
By Bless Aubrey Ogerio
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HE Department of Trade and Industry (DTI) is targeting a near-half increase in sales from its national trade fairs this year, as it expands the number of events and the number of micro, small and medium enterprises (MSMEs) participating in them. Trade Assistant Secretary Nylah Rizza Bautista said that the higher target comes as the agency expands its national trade fairs from four to 13 and seeks to bring more micro, small and medium enterprises (MSMEs) into the events. “We supported more than 2,000 MSMEs and generated over P700 million in sales. And this year, we are aiming even higher,” Bautista said during the opening of the Coconut Philippines Trade Fair in Pasay City. “We target over P1 billion in sales and it’s only on the national level, excluding the regional trade fairs. And greater opportunities for MSMEs across 18 regions,” she added. The DTI is also targeting 3,000 MSME par ticipants this year as it expands tradepromotion activities aimed at giving small businesses access to buyers.
In March, Trade Secretary Ma. Cristina Roque told reporters that the department expected sales from its tradepromotion activities to surpass the P668 million recorded the previous year. The latest trade fair focuses on the coconut industry and features about 300 vendors from across the country. The DTI has been pushing to move the coconut sector beyond raw and minimally processed products toward higher-value goods. Coconut exports rose 34.4 percent in 2025 to $3.6 billion, with the industry supporting about 2.8 million farmers. The department is also working on halal certification for MSME products, which it said could allow more businesses to participate in halal-focused trade fairs and access additional markets. The effort to widen market access is also extending beyond physical trade events. The Asean (Association of Southeast Asian Nations) Digital Economy Framework Agreement (Defa), once implemented, is expected to facilitate crossborder digital trade and create additional avenues for MSMEs to reach consumers and buyers in other markets.
HE government’s economic managers must move toward a legislated living wage as a rational standard for determining minimum pay, even as a court-issued restraining order continues to block a minimum wage increase for hundreds of thousands of workers in Metro Manila. Sen. Joel Villanueva pressed the issue during the Senate’s budget hearing on the proposed 2027 national budget. He was aghast at the notion of a regional trial court stopping the implementation of NCR Wage Order 27 despite Article 126 of the Labor Code expressly barring courts from issuing injunctions or temporary restraining orders against wage board proceedings. “I have served as chairman of Senate Committee on Labor, but this is the only time I have seen a bare faced defiance by the court of the precise provision of the Labor Code,” Villanueva said, partly in Filipino. He noted that the Senate had already adopted a resolution questioning the court intervention. The wage order would raise the NCR minimum wage from P755 to
P840 a day. Implementation remains suspended pending court proceedings. The senator filed Senate Bill 44, or the Living Wage Act, which establishes a mechanism to determine the standards of a living wage that adequately compensate Filipino workers—not only to meet their basic needs, but also to live with dignity. Villanueva asked the Department of Economy, Planning, and Development (DEPDev) to weigh in on the growing wage gap between Metro Manila and neighboring provinces, citing workers in Bulacan who cross into NCR for better pay. “Instead of working there, they will just cross over to the NCR,” Villanueva said, describing the pull of the capital’s higher wages on workers from nearby provinces. Socio-economic Planning Secretary Arsenio Balisacan told the committee that minimum wage decisions should remain with regional tripartite wage boards—the mechanism in place for three decades, instead of legislated wages. However, with a Pasig court’s move to block implementation of the order by the Metro Manila wage board, the clamor for either a leg-
islated wage hike or a living wage has grown louder. Balisacan had noted that NCR wage increases have outpaced inflation in recent years. Villanueva pointed out that the same could not be said for workers outside the capital region, where wages lag further behind the cost of living. While Balisacan maintained that a single nationwide minimum wage was not advisable, citing the need to balance worker earnings with job quality and investment, Villanueva clarified these tripartite bodies must shift their benchmark—using living wage as the standard for setting regional rates. “It’s important for us to be united in our direction towards a living wage, because this is stated in our Charter,” Villanueva said, citing the 1987 Constitution provision which guarantees workers a living wage. Villanueva linked the discussion to the Trabaho Para sa Bayan Act, which he authored to steer investment toward job-generating industries, and asked DEPDev for an update on how the law’s labor demand, supply, and market governance strategies are reflected in the proposed 2027 budget.
Cooperatives push state procurement preference to widen market access By Bless Aubrey Ogerio
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OOPER ATIVES are seeking a bigger role in gove r n me nt pro c u re me nt , with the Philippine Chamber of Cooperatives (Coop Chamber) pushing for policies that would give agricultural and agrarian reform cooperatives preference in supplying government agencies. The proposal forms part of the chamber’s 2026-2028 Executive and Legislative agenda, which it unveiled alongside its “Coop Vote” initiative and “Senatorial Project 2028: Non-Partisan Advocacy in Action” in Manila. The group said giving cooperatives greater access to government purchasing would help open markets for grassroots producers while strengthening the business base of agricultural and agrarian reform cooperatives. The chamber also called for targeted legislative support for transport and utility cooperatives, although it did not specify the proposed measures. The agenda places “grassroots sectors” among its key principles, alongside preserving democratic governance through the “One Member, One Vote” and “One Coop, One Vote” systems, defending cooperative tax exemptions and institutionalizing support from local governments.
The chamber said its push for greater policy engagement is aimed at protecting the constitutional role of cooperatives as “instruments of social justice, selfreliance and inclusive economic development.” On taxation, the group called for closer coordination with the executive branch and the Bureau of Internal Revenue (BIR) to enforce the statutory tax exemptions provided under Republic Act 9520, or the Philippine Cooperative Code. The chamber argued that cooperative surpluses are returned to members and local communities rather than distributed as private profits, making the preservation of their tax treatment important to the sector. It also proposed legislation requiring local government units (LGUs) to establish dedicated Local Cooperative Development Funds and appoint specialized Cooperative Development Officers. T he procurement proposa l comes as cooperatives seek to expand their participation in markets beyond their traditional member-based operations. During the event, the chamber said the cooperative movement is organizing its roughly threemillion voting base ahead of the 2028 elections. Under its “Coop Vote” initiative,
it plans to assess and engage senatorial candidates based on their positions on cooperative-related legislation. The chamber said it would also support candidates from within the cooperative sector who demonstrate a commitment to sponsoring and protecting policies favorable to cooperatives, while maintaining that the initiative is non-partisan. The group said it would continue engaging government agencies, including the Cooperative Development Authority (CDA), as well as congressional committees handling cooperative development. It also cited planned dialogues with government agencies, including a high-level BIR regulatory forum, as part of efforts to address policy and regulatory issues affecting cooperatives. The CDA has described the cooperative sector as comprising more than 20,000 registered cooperatives as of fiscal year 2024. The authority has also rolled out programs aimed at helping micro and small cooperatives raise capital and expand their operations. In 2025, one such program set aside P60 million in financial assistance for eligible cooperatives, covering areas such as working capital, agricultural production, equipment acquisition and relending.
HE provincial government of Camarines Sur has launched CamSur Uptown, a 200-hectare masterplanned global city that is envisioned to be a seat for business, governance and investments outside the national capital and an infrastructure hub for information technology (IT). “CamSur Uptown promises to be even better than the Bonifacio Global City [BGC] as it is envisioned to become a premier hub for business, technology, governance and investments that will bring digital education, modern or hi-tech jobs and now untrodden possibilities for high growth,” said Gov. Luis Raymund Villafuerte at he grand opening ceremony of project on Friday night. “It will be a place where we will invest heavily in health and livelihood, creating for Camsureños a future where economic growth is robust, sustainable, shared and inclusive,” Villafuerte said. Among the business leaders and investors present at the formal launch were Xentro Group of Companies Chairman Alexander Cruz, Green Xentro Chief Executive Officer Noel Ignacio, and Development Bank of the Philippines (DBP) President-CEO Michael de Jesus. Also present were Vice Gov. Sal Fortuno, the Sanggunian Panlalawigan (SP) members; CamSur Reps. Migz Villafuerte, Luigi Villafuerte and Tsuyoshi Anthony Horibata; and Bicol Saro Rep. Terry Ridon. Villafuerte said that CamSur Uptown will “epitomize the economic transformation of our province and our people, and it will be the next financial tech hub in Luzon, with banks, financial technology companies [fintechs] and BPO [business process outsourcing] firms already expressing interest in setting up shop there—on the strength of CamSur’s forward-looking local governance, smart regulation and business-friendly leadership.” The master plan for CamSur Uptown covers barangays Cadlan, San Jose and Sagurong in the province’s capital town of Pili. The iconic, pili nut-shaped Provincial Capitol, which is nearing completion, is at the center of CamSur Uptown, a smart city that will feature not just a digital campus, artificial intelligence (AI) laboratory and logistics and manufacturing facilities but also mixed-use commercial buildings, resorts and parks, medical and lifestyle centers and a golf course. CamSur is putting up there the country’s first ever local government-partnered, stateof-the-art Digital Transformation Center (DTC) with the Department of Information and Communications Technology (DICT) that will propel the province into a “premier hub for world-class IT infrastructure” in the Philippines, according to Villafuerte. “This planned digital campus will mark a historic milestone as the first Level 4 flagship facility that the DICT is putting up in partnership with a provincial LGU under the Department’s Tech4ED-DTC program,” Villafuerte said. Earlier, the Philippine Economic Zone Authority (PEZA) green-lighted an almost seven-hectare special economic zone (SEZ) at the CamSur Uptown, in a development that will clear the way to an even larger stream of capital into this province that is becoming one of the country’s investment magnets outside Metro Manila. See “Uptown,” A8
Republic of the Philippines REGIONAL TRIAL COURT 6th Judicial region Branch 68 P.D. Monfort North Dumangas, Iloilo -oOoCIVIL CASE NO. 24-2208 WILLIAM S. JASTILLANO, WINONAH J. DIAMANTE Plaintiffs, -versusWHILHELM DIVINAGRACIA, SR., REPUBLIC GAS CORPORATION & 88 DRAGONS CORPORATION Defendants, x- - - - - - - -x SUMMONS
Monday, August 31, 2026
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Drought fears spur PHL rice purchases By Ada Pelonia @adapelonia & Justine Xyrah Garcia
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MPORTED rice arrivals jumped to 3.34 million metric tons (MMT) in January to July despite government efforts to limit shipments by halting the entry of the 5 percent broken variant to support domestic farmgate prices. Socioeconomic Planning Secretary Arsenio M. Balisacan said the inability of the country to open more irrigated areas has contributed to the continued reliance of the Philippines on rice imports. In a chance interview during the Senate budget hearing last week, Balisacan said the country’s total irrigated area has practically remained unchanged over the past 10 years, limiting its ability to make farmland more productive. “Our capacity to develop our farmlands into more productive lands by developing irrigation system, constructing (irrigation) has practically been not very slow, (it’s) almost flat,” Balisacan told reporters. Figures from the Bureau of Plant Industry (BPI) showed that imported rice shipments in the 7-month period rose by 29.47 percent to 3.34 MMT, from the 2.58 MMT recorded in the same period last year. On a monthly basis, rice arrivals in July rose by almost 15 percent to 548,046.74 metric tons (MT), from the 477,758.525 MT in June. As of August 13, however, BPI data indicated that rice shipments have reached 3.46 MMT. Of the latest volume that arrived in the Philippines, 2.59 MMT came from Vietnam, which remained the country’s leading supplier of the staple grain. This was followed by Thailand at 378,404.278 MT.
BSP. . . Continued from A1
going. So we think growth will more or less fully recover by next year,” added Remolona. Analysts also expect the central bank to stick to its primary mandate of keeping prices stable despite the weak growth momentum. Ateneo De Manila University (ADMU) economist Ser Percival K. Peña-Reyes said: “BSP Governor Eli Remolona has emphasized that the primary mandate of the BSP is price stability and that monetary policy has limited direct scope to support growth.” Thus, Peña-Reyes said: “It is the government that should utilize fiscal space for economic support.” “Historically, we saw faster growth rates even at 6 percent interest rates. Like I said, someone needs to work harder if we are to avoid recession. That’s the National Government—the Department of Finance (DOF), Department of Budget and Management (DBM), and Department of Economy, Planning and Development (DEPDev),” Peña-Reyes explained to the BusinessMirror on Sunday.
Fiscal side should expand
AS such, while the monetary side tightens, Peña-Reyes pointed out that the fiscal side should expand. “Of what use is borrowing if it won’t be used for such a purpose, right? That’s why the infra spending will catch up this fourth quarter,” the ADMU economist told this newspaper on Sunday, speaking partly in Filipino. Budget Undersecretary Romeo Matthew T. Balanquit earlier told reporters that the government is“definitely”seeing an increase in the third and fourth quarters this year in terms of infrastructure spending. He said growth will be supported by the utilization of funds that the Depart-
The Philippines also purchased rice from other nations, including Myanmar (286,052.650 MT), Pakistan (107,485.5 MT), Cambodia (87,802 MT), and India (13,101.830 MT). Earlier, Agriculture Secretary Francisco Tiu Laurel Jr. asked importers to stop bringing in 5 percent broken rice starting July, as it poses stiff competition to local palay (See: https://businessmirror.com. ph/2026/07/02/da-to-importers-stopbringing-in-5-broken-rice/).
He said the move is meant to help prop up farmgate prices of paddy rice, which tends to go into freefall during the main harvest season. “The farmgate price of palay during the mid-September to October harvest shouldn’t plunge to P8 to P12 per kilo like what happened last year,” he said. “That’s our main challenge, and we’ve thought of a solution. We will no longer allow the entry of 5 percent broken rice into the Philippines starting now. It should only be 25 percent broken rice or worse (grades).” Meanwhile, Agriculture Assistant Secretary Arnel de Mesa attributed the surge in rice imports to the market’s “natural response” to the compounding factors that rattled the sector, such as hike in input costs and the potential impact of El Niño on production. De Mesa also said rice imports this year ment of Budget and Management (DBM) released to the Department of Public Works and Highways (DPWH) in the previous months.(See:https://businessmirror.com. ph/2026/08/17/double-digit-growthseen-for-infra-spend/)
The DBM recently revealed that infrastructure expenditures and other capital outlays fell to P367.4 billion in the first half of the year due to strict audits and validation of projects—an offshoot, in turn of the massive flood-control fund scandal. The amount was nearly half of the P620.2 billion the government spent for infrastructure in the same period a year ago.
Unanchored inflation
ACCORDING to Peña-Reyes, price stability always comes first for the BSP. He said that central banks view unanchored inflation as “deeply damaging” to long-term economic health. This, he said, makes rate hikes necessary, even if they “constrain” near-term activity. In fact, Remolona said the central bank also worries about short-run growth but only to the extent that it affects inflation and the “longer-run trend.” “We don’t really have the tools to boost growth in the short run at the expense of inflation,” he added. As such, Peña-Reyes said that “painful as it is,” the economy can suffer a slowdown now, but there is a need to ensure that inflation expectations remain anchored in the long run. Earlier, former BSP Deputy Governor Diwa C. Guinigundo told the BusinessMirror: “We should not expect monetary policy alone to fix the economy’s growth problem.” “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,” Guinigundo also noted.
could reach a new all-time high due to the spike in fertilizer and fuel prices affecting palay production. Input prices previously skyrocketed to record levels, owing to the Middle East war that closed the Strait of Hormuz and choked off oil shipments. Data from the Philippine Statistics Authority (PSA) showed that palay harvest in January to June slid by 0.6 percent to 9.02 MMT, from the 9.08 MMT recorded in the same period last year.
Population growth
THE country’s chief economist said population growth has also outpaced rice produc tion growth, with the population expanding by 1.23 percent annually compared with 0.9 percent for rice production. He said the gap has persisted for years, leaving imports necessary to meet the country’s rice consumption needs. Apart from limited irrigation expansion, Balisacan also cited the conversion of productive agricultural land to other uses as another factor behind insufficient domestic production. “We should pass our National Land Use Code so that it can properly designate the areas that should not be converted to other uses,” he said. Balisacan particularly pointed to agricultural areas where the government has already invested in irrigation, saying conversion of these lands would mean wasting those investments. The proposed National Land Use Act is among the common legislative agenda identified by the Legislative-Executive Development Advisory Council (Ledac) for passage by the end of the 20th Congress. The measure seeks to establish a national framework for the “rational, holistic, just allocation, utilization, management, and development of land and water resources” across the country. The bill is now being considered by the Senate after the House of Representatives approved the proposal on third and final reading in May. The former BSP deputy governor said that while an easy monetary policy may stimulate demand, it cannot produce more rice, lower logistics costs or remove structural constraints on production. That is why, he added, the response of inflation should be broader. Guinigundo thus prodded the fiscal authorities, trade authorities and“especially” the agriculture sector to address the supplyside sources of inflation while the central bank focuses on preventing second-round effects and keeping inflation expectations anchored.
Improved governance
MEANWHILE, in the view of Emilio S. Neri Jr., Bank of the Philippine Islands’ (BPI) Senior Vice President and Lead Economist, improving governance is“key to our country’s growth recovery and not really about keeping interest rates below inflation.” As such, Neri said: “After a serious lapse in the last 4 years, the legislative and executive branches need to step up big time to restore confidence and improve our country’s potential output.” The BPI’s lead economist warned that “all negative side effects will emerge if BSP tries to compensate for inadequate delivery of public sector services and reforms.” Early this month, the Philippine Statistics Authority (PSA) reported that the economy slowed further to 2.3 percent in the second quarter. This is slower than the 2.8 percent growth pace in the first quarter and was significantly below the 5.4-percent expansion recorded a year earlier. The latest reading was the slowest since the first quarter of 2021, when the economy contracted by 3.8 percent. Excluding the pandemic period, it was the weakest growth recorded since the fourth quarter of 2009, when GDP expanded by 1.8 percent. (See: https://businessmirror. com.ph/2026/08/08/growth-at-2-3-inq2-recovery-dims-in-2026/)
TO: 88 DRAGONS CORPORATION - - - - - -10th Floor, Columbia Towers, Brgy. WackWack, Ortigas Avenue, Mandaluyong City GREETINGS: You are hereby required within thirty (30) days after service of this Summons upon you to file with this Court your answer to the petition, a copy of which is hereto attached, together with the annexes. You are reminded of the provisions in the IBP-OCA Memorandum on Policy Guidelines dated March 12, 2002, to observe restraint in filling a motion to dismiss and instead allege the grounds thereof as defenses in the Answer. If you fail to answer within the time fixed, the plaintiff will take judgment by default and maybe granted the relief applied for in the complaint. WITNESS, my hand under the seal of this Court, this 19th day of August 2025 (SGD.) ATTY. ERIC VOLTER A. ORTIGAS Clerk of Court VI ------------------Republic of the Philippines REGIONAL TRIAL COURT 6th Judicial Region Branch 68 Dumangas, Iloilo -oOoCivil Case No. 24-2208 For: Petition for the Declaration Nullity of the Deeds of Sale and of TCT No. 090-2018006577, TCT No. 090-2018006579, TCT No. 090-2018006580, TCT No. 090-2018006581, TCT No. 090-2018006582, and TCT No. 090-2018010097, Recovery of Ownership and Damages with Prayer for the Issuance of a Temporary Restraining Order (TRO) and Writ of Preliminary Injunction (WPI) WILLIAM S. JASTILLANO, WINONAH J. DIAMANTE, Plaintiffs, -versusWHILHELM DIVINAGRACIA, SR., REPUBLIC GAS CORPORATION & 88 DRAGONS CORPORATION, Defendants, x- - - - - - - -x COMPLAINT COMES NOW, Plaintiffs, through the undersigned counsel and unto this Honorable Court, most respectfully states: 1.Plaintiff WILLIAM S. JASTILLANO is of legal age, Filipino, married and a resident of 238 Ligao, St., San Miguel, Manila while Plaintiff WINONAH J. DIAMANTE is also of legal age, Filipino, widow and a resident of Brgy. Dacuton, Dumangas, Iloilo and has the capacity to sue and be sued and may be served notices and other court processes at their stated addresses and/or through undersigned counsel. 2. Defendant WHILHELM DIVINAGRACIA, SR., of legal age, Filipino, married and a resident of No. 25 Lopez Jaena St., Lapaz, Iloilo City, where he may be served with notices and other court processes. 3. Defendant REPUBLIC GAS CORPORATION is a corporation duly organized and existing under and by virtue of the laws of the Philippines with business address at DagatDagatan Avenue, Brgy. Longos, Malabon City where it may be served with notices and other court processes. 4. Defendant 88DRAGONS CORPORATION a corporation duly organized and existing under and by virtue of the laws of the Philippines with business address 10th Floor Columbia Towers, Brgy. Wack-Wack, Ortigas Avenue, Mandaluyong City, where it may be served with notices and other court processes. The Cause of Action 5. Plaintiffs are the son and daughter and the surviving heirs of the late LORETO JASTILLANO (Loreto for brevity.) Attached herein as Annexes “A” and “B” are the copy of Plaintiffs’ Certificate of Live Birth. 6. On 9 October 1991, Loreto, who was then 64 years old, died in Dumangas District Hospital, Dumangas, Iloilo. Attached hereto as Annex “C” is a copy of Loreto’s Certificate of Death. 7. Plaintiff siblings, namely Gracelyn Jastillano, Franklin Jastillano and Arturo Jastillano took care of the property and the corresponding documents were safekept by their eldest sibling ARTURO. 8. That on May 2000 Francklin Jastillano died and on the same year Gracelyn Jastillano also died last October 2000 and later on, Arturo also died last May 5, 2020. Copy of their death certificates are attached hereto as Annexes “D”, “E” and “F”; 9. That after the death of Arturo, the documents in his possession were turned over to William. One of these documents is Transfer Certificate of Title No. T-55302 registered in the name of Plaintiffs mother Loreto Subibi Jastillano, with an area of ONE HUNDRED SEVEN THOUSAND THIRTY-FIVE (107,035) SQUARE METERS. Attached hereto as Annex “G” is a copy of TCT No. T-55302. 10. Plaintiff William was surprised to learn however that T.C.T. No. T-55302 was cancelled pursuant to an alleged Deed of Absolute Sale dated 4 April 2017, allegedly executed by his late mother Loreto in favor of certain Whilhelm Divinagracia, Sr. Attached hereto as Annex “H” is a copy of a falsified Deed of Absolute Sale. 11. It is very clear at this point that the Deed Of Absolute Sale is FALSIFIED since the records would show that it was allegedly executed on 4 April 2017 or more that 16 years after the death of LORETO, the alleged seller and Plaintiffs’ mother; 12. Pursuant to the FALSIFIED Deed of Absolute Sale, TCT No. T-55302 was cancelled and TCT No. 090-2017010901 with an area of 107,035 was issued in favor of defendant DIVINAGRACIA, Attached here as Annex “I”, is a copy of TCT No. 090-2017010901. 13. On 30 April 2018, records show that DIVINAGRACIA executed a sale in favor of Defendant REPUBLIC GAS CORPORATION (REPUBLIC GAS) for a portion of land with an area of 20,636 SQ.M. Defendant DIVINAGRACIA likewise subdivided the subject lot into six other lots: Lot 505-A Lot 505-B Lot 505-C Lot 505-D Lot 505-E Lot 505-F
10,000 SQ.M. TCT No. 090-2018006577 20,636 SQ.M TCT No. 090-2018006578 1,317 SQ.M. TCT No. 090-2018006582 10,000 SQ.M. TCT No. 090-2018006579 9,029 SQ.M. TCT No. 090-2018006580 56,053 SQ.M. TCT No. 090-2018006581
14. TCT No. 090-2018006578 was registered under the name of defendant REPUBLIC GAS and TCT No. 090-2018006577 was sold by defendant DIVINAGRACIA to Defendant 88DRAGONS CORPORATION (88DRAGONS) on 13 August 2018. Consequently, TCT No. 090-2018006577 was cancelled and TCT No. 090-2018010097 was issued in favor of 88DRAGONS. Attached hereto are the certificate of titles and tax Declaration as Annexes “J”, “K”, “L”, “M”, “N”, “O”, and “P” with sub-markings for Tax Declarations each title whose total assessed value is P1,166,520.00 and the total market value is P6,665,770.00 while the total zonal value is P1,926,630.00; 15. It is clear that all these titles are from the Transfer Certificate of Title No. T-55302 which had been cancelled pursuant to a FALSIFIED deed of Absolute Sale. 16. It is glaring that Defendant DIVINAGRACIA maliciously FALSIFIED the deed of Absolute Sale and the Acknowledgement of the Notary Public that Loreto appeared before him on April 4, 2017 is absurdly FALSE considering that she already died on 9 October 1991. 17. The FALSIFIED Deed of Absolute Sale was then presented to the Bureau of Internal Revenue (BIR) for the issuance of the Certificate Authorizing Registration and the Registry of Deeds for Iloilo for the cancellation of TCT No. T-55302 registered in the name of LORETO REPUBLIC GAS CORPORATION and 88DRAGONS CORPORATION by virtue of the Deeds of sale executed on 30 April 2018 (in favor of Defendant REPUBLIC GAS) and 13 August 2018 (in favor of Defendant 88DRAGONS); 18. That considering that the defendant DIVINAGRACIA has falsified the Deed of Absolute Sale, plaintiff WILLIAM filed a case against him before the Iloilo City Prosecutor’s Office for falsification which copy of the Complaint in which the Prosecutors’ Office found probable cause against him and the instant case is now pending before Branch 3 of the Municipal Trial Court in the Cities. Copy of the Complaint is attached as Annex “Q”; 19. That the defendants REPUBLIC GAS and 88DRAGONS are clearly not buyers in good faith in this case as the subject property is not possessed by defendant DIVINAGRACIA and could have look beyond the certificate of title and thus, failure to exercise degree of precaution makes it buyers’ in bad faith; 20. Moreover, the title issued to defendant DIVINAGRACIA is void as the same having been issued using falsified document and since the title is void, no right can be transferred at all even to defendant Corporation as it is settled that a void title cannot give rise to a valid title; 21. To recall, ownership is different from a certificate of title. A certificate of title is merely an evidence of ownership or title over the particular property described therein, and it cannot be used to protect a usurper from the true owner; nor can it be used as a shield for the commission of fraud; neither does it permit one to enrich himself at the expense of others; 22. That because of the illegal act of the defendant DIVINAGRACIA was forced to spend a lot for this case and was so stressed a lot of times and aghast as to why Divinagracia could do the same to them and this case has caused them so many sleepless nights, anxiety and wounded feeling; 23. That the plaintiffs are in danger of losing their property and thus, has no other choice but begs that a temporary restraining order and/or preliminary mandatory injunction shall be issued ordering defendant DIVINAGRACIA from offering to sell and selling the subject property as well as defendant REPUBLIC GAS and 88DRAGONS from introducing improvements in order to prevent irreparable damage and injury to the plaintiffs of which defendant DIVINAGRACIA is continually offering the subject properties for sale to the public; 24. That due to the unlawful acts of the defendant DIVINAGRACIA, plaintiffs were unnecessarily forced to secure the services of counsel, to which he would suffer attorney’s fees of P200,000.00 and appearance fee P5,000.00 for every hearing actually attended as well as other litigation and incidental expenses. Copy of the Retainer’s Agreement is attached hereto Annex “R”; 25. Clearly, the action of the defendant DIVINAGRACIA who collectively cause the deliberate, malicious, purposeless, senseless, and unjustified act of taking possession of the subject property through illegal acts with full knowledge of illegality or groundlessness of the act is liable for damages; 26. Defendants’ actions are clearly outside the walls of law and causing damage to the plaintiffs making it liable under the provisions of Art. 19,20,21, 2217 and 2219 of the Civil Code of the Philippines which states as follows, to wit: Article 19. Every person must, in the exercise of his rights and in the performance of his duties, act with justice, give everyone his due, and observed honestly and good faith. Article 20. Every person who, contrary to law, wilfully or negligently causes damage to another, shall indemnify the latter for the same. Article 21. Any person who wilfully causes loss or injury to another in a manner that is contrary to morals, good customs or public policy shall compensate the latter for the damage. Article 2217. Moral damages include physical suffering, mental anguish, fright, serious anxiety, besmirched reputation, wounded feeling, moral shock, social humiliation, and similar injury. Through incapable of pecuniary computation, moral damages may be recovered if they are the proximate result of the defendant’s wrongful act for omission. Article 2219. Moral damages may be recovered in the following and analogous cases:
x x x (10) Acts and actions referred to in articles 21, 26, 27, 28, 29, 30, 32, 34, and 35. 27. Plaintiffs, in the exercise of their rights of ownership, possession and utilization of the property of which they were unlawfully deprived is entitled to the issuance of Temporary Restraining Order and enjoining the defendant DIVINAGRACIA from selling or offering the subject property for sale and stopping the defendants REPUBLIC GAS and 88DRAGONS from introducing improvements to the subject properties and the issuance of Writ of Preliminary Mandatory Injunction against defendant DIVINAGRACIA for him to cease and desist from selling or offering the subject properties for sale pending the resolution of this case and that the filling of the injunction has merit which affidavit of merit is attached hereto as Annex “S”; 28. Plaintiffs are willing to post a bond executed to the defendants in an amount which this Honorable Court may fix to answer for whatever damages the latter may suffer should it be finally resolved that the plaintiffs are not entitled to the issuance of the Writ; 29. That because of this case, plaintiffs suffered mental anguish, serious anxiety, wounded feeling, moral shock and social humiliation for which they should be indemnified in the sum of not less than Five Hundred Thousand Pesos (P500,000.00) for moral damages as well as the amount of not less than One Hundred Thousand Pesos (P100,000.00) as exemplary damages; Compliance to A.M. No. 19-10-20-SC 30. The plaintiffs intended to present the following witnesses to prove their claim and the allegations in the Complaint: 30.1. Plaintiffs themselves will testify and to prove that the action of the defendant DIVINAGRACIA is deliberate, malicious, purposeless, senseless, unjustified by making it appear that the late mother of the plaintiffs have executed a Deed of Absolute Sale when in fact and in truth, she already died 15 years prior to the execution of the said document and as a result of the malicious acts of the said defendant, plaintiffs suffered damages. They will further testify that the defendants REPUBLIC GAS and 88DRAGONS are not purchaser in good faith and have not exercises due diligence required under the circumstances. Plaintiffs will likewise identify documents in support of this case and to such other matter relative and important to this case; 30.2. Former barangay Captain Inecita Develos Jamora will corroborate the testimony of the plaintiff and will show proof that defendants are not buyers in good faith and will likewise identify documents in support of this case and to such other matter relative and important to this case; 30.3. Henry Delonio of the subject property who will corroborate the testimony of the plaintiffs and the other witness and will likewise identify documents in support of this case and to such other matter relative and important to this case; 30.4. Reserve witnesses as maybe needed to prove the cause of action of the plaintiffs. 31. The following documentary evidences will be presented: 31.1. Birth Certificates of plaintiffs to prove that they are the biological children of the late Loreto; 31.2. Death Certificate of the late Loreto to prove that the said person died last 1991 and could not have executed the Deed of Absolute Sale used by defendant DIVINAGRACIA in transferring the subject property in his name; 31.3. Death Certificates of the siblings of the plaintiffs to prove that the other heirs of Loreto had already died; 31.4. Transfer Certificate of Title No. T-55302 to prove that the property is covered by the said Transfer Certificate and such title which is in the name of the late mother of the plaintiffs to prove that property is already sold to the family of the plaintiff; 31.5. Deed of Absolute Sale which is a forged one to prove that defendant DIVINAGRACIA use the same to illegally transfer the properties in his name; 31.6 T.C.T. No. 09-2017010901 to prove that the property of the late Loreto was transferred in his name using falsified document and that the void title could not give rise to a valid title; 31.7. T.C.T. No. 090-2018006577, T.C.T. No. 090-2018006578, T.C.T. NO. 090-2018006582, T.C.T. No.090-2018006579, T.C.T. No. 090-2018006580 and T.C.T. No. 090-2018006581 to prove that defendant DIVINAGRACIA immediately and illegally cause the transfers of the property of the late LORETO and was sub-divided and transferred in the name of defendant DIVINAGRACIA and defendant REPUBLIC GAS; 31.8. Retainers Agreement to show that the plaintiffs were forced to secure the services of counsel and was unnecessarily made to pay for his services; 31.9. Affidavit of merit to prove that there is merit in this case for injunction; 31.10. Tax Declarations to prove that the subject properties were illegally transferred and already under the name of defendant DIVINAGRACIA and defendant REPUBLIC GAS; 31.11. Pictures of the area which shows that improvements are erected by the defendants on the subject property in violation of the DENR and DAR Laws particularly the illegal conversion; 31.12. Complaint and record of the case filed by plaintiff William against defendant Divinagracia and to show that he is facing criminal charges in court by reason of the Deed of Sale he falsified; 31.13. Reserve exhibits which prove the cause of auction of the plaintiffs; 32. The following are laws and jurisprudence applicable in this case: 32.1. Civil Code of the Philippines as well as Special Laws (DENR & DAR Laws and related issuances) and recent jurisprudence relating to this case; 32.2. Layag vs. BDO, G.R. No. 222503, September 14, 2021; 32.3. Global Holiday Ownership Corporation, vs. Metropolitan Bank & Trust Company, G.R. No. 184081, June 19, 2009; 32.4. Angeles vs. Intermediates Appellate Court, G.R. No. 75009, September 29, 1989; 32.5. Ardiente vs. Javier, G.R. NO. 161921, July 17, 2013; 32.6. Ms. Violeta Vasñoa, vs. Rodencio and Jovencio, both surnamed De Ramos, G.R. No. 156339 October 6, 2004; 32.7.Menandro A. Sosmeña vs. Benigno M. Bonafe, Jimmy A. Escobar, Joel M. Gomez, and Hector B. Pangilinan, G.R. No. 232677, June 08, 2020; 32.8. Lehner V. Martires, vs. Ricardo Cokieng and Zennie T. Cokieng, Representative of the late Regino Cokieng, G.R. No. 150192, February 17, 2005; 32.9. Iglecerio Mahinay, vs Atty. Gabino A. Velasquez, Jr., G.R. No. 152753, January 13, 2004; 32.10. Irene Sante and Reynaldo Sante, vs. Hon. Edilberto T. Claravall, G.R. No. 173915, February 22, 2010; 32.11. B.F. Metal Corporation vs. Sps. Rolando M. Lomotan and Linaflor Lomotan and Rico Umuyon, G.R. No. 170813, April 16, 2008; 32.12. Yusingco vs. Busilak, G.R. No. 210504, January 24, 2018; 32.13. Cullado vs. Gutierrez, G.R. No. 212938, July 30, 2019; 32.14. Miro vs. Mendoza, G.R. No. 172532 172544-45, 20 November 2013; 32.15. Reyes vs. Pablo, G.R. No. 200713, 11 December 2013; 32.16. Automat vs. De la Cruz, G.R. No. 192026, 01 October 2014; 32.17. Dela Cruz vs. Fajardo, G.R. NO. 184966, 30 May 2011; 32. 18. BPI vs. Hontanosas, Jr., et. al, G.R. No. 157163, June 25, 2014; 32. 19. Heirs of Isabelo Cudal, Sr., vs. Spouses Marcelino A. Suguitan, Jr., G.R. No. 244405, August 27, 2020; 33. In sum, the plaintiffs are clearly entitled to the possession and enjoyment of the subject property in which the defendants have illegally taken from the plaintiffs using falsified document and thus, it is imperative that a Temporary Restraining Order or Preliminary Injunction as plaintiff’s rights over the property as the surviving heir of landowner LORETO had been and is continuously being violated especially by the subsequent sales and transfer of the subject parcel of land made by Defendant DIVINAGRACIA to Defendant REPUBLIC GAS and Defendant 88DRAGONS, respectively and that defendants must be enjoined from selling, disposing, transferring and/or exercising rights of ownership over the subject parcel of land, to prevent further injury and grave injustice to plaintiffs while the instant case is being heard. PRAYER WHEREFORE, it is most respectfully prayed that, after due hearing, judgment be rendered in favor of Plaintiffs as follows: 1. Declaring the Deed of Sale between Defendant DIVINAGRACIA and PALINTIFF’s deceased mother LORETO, NULL AND VOID AB INITIO. 2. Declaring the Deeds of Sale between Defendant DIVINAGRACIA seller, and Defendant REPUBLIC GAS and Defendant 88DRAGONS, buyers dated 30 April 2018 and 13 August 2018, Respectively, NULL AND VOID AB INITIO. 3. Declaring the following Transfer Certificates of Titles Lot 505-A 10,000 SQ. M TCT No. 090-2018010097 Lot 505-B 20,636 SQ. M. TCT No. 090-2018006578 Lot 505-C 1,317 SQ. M. TCT No. 090-2018006582 Lot 505-D 10,000 SQ. M. TCT No. 090-2018006579 Lot 505-E 9,029 SQ.M. TCT No. 090-2018006580 Lot 505-F 56,053 SQ. M. TCT No. 090-2018006581 NULL and VOID AB INITIO and that an Order shall be issued reverting all the illegally transferred property back to the original Transfer Certificate of Title No. T-55302 in the name of LORETO and thereafter cancel all the Tax Declarations issued in the name of the defendants revert the same back in the name of LORETO; 4. Ordering the defendants to vacate the subject property and turn over the same to the Plaintiffs; 5. Ordering Defendants to pay Attorney’s Fees in the amount of Two Hundred Thousand Pesos (Php. 200,000.00) and Five Thousand Pesos (5,000) per court hearing and to pay costs of suit; 6. Ordering the Defendant DIVINAGRACIA to pay plaintiffs the amount of Five Thousand Pesos (P5,000) as Moral Damages as well as the amount of not less than One Hundred Thousand Pesos (100,000.00) as Exemplary Damages; 7. That pending the outcome of the instant case, a Writ of Preliminary Mandatory Injunction, be immediately issued ordering Defendants, their successors, assigns, and all persons acting under him, not to sell, dispose of, transfer and/or exercise any acts of ownership over the parcel of land subject of this case. Other reliefs just and equitable are like prayed for. August 16, 2024, Sara, Iloilo for Dumangas, Iloilo. (SGD.) ATTY. JONEE BILL C. TAÑEZA Counsel for Plaintiffs #44 Serafin Tady St. Sara, Iloilo PTR No. 8337243/ 01/03/2024/I.C IBP O. R. No.378854 12/28/2023 Pasig City Roll of Attorney’s No. 53119 MCLE Compliance No.VII-0009710 Issued on February 14, 2022 Email Add.:joneebill@yahoo.com VERIFICATION & CERTIFICATION AGAINST FORUM SHOPPING We, WILLIAM S. JASTILLANO, of legal age, Filipino and a resident of Ligao Street, San Miguel, Manila and WINONAH J. DIAMANTE, of legal age, Filipino and a resident of Brgy. Dacutan, Dumangas, Iloilo after having been duly sworn in accordance with law hereby depose and say: 1.That we are the plaintiffs in the above-entitled case and the allegations in the Complaint are true and correct based on our personal knowledge, or based on authentic documents and the complaint is not filed to harass, cause unnecessary delay, or needlessly increase the cost of litigation and the factual allegations therein have evidentiary support or if specifically, so identified, will likewise evidentiary support after a reasonable opportunity for discovery; 2. That we have not therefore commenced any action or filed any claim involving the same issues in any court, tribunal or quasi-judicial agency and, to the best of my knowledge, no such other action or claim is pending therein; (b) if there is such other pending action or claim, a complete statement of the present status therefore; and (c) if we should thereafter learn that the same or similar action or claim has been filed or is pending, we shall report that fact within five (5) calendar days there from to the court wherein the original pleading and sworn certification contemplated herein have been filed. 3. We executed this verification/certification to attest to the truth of the foregoing fact and to comply with the provisions of A.M. No. 19-10-20-SC. IN WITNESS WHEREOF, we have hereunto affixed our signatures this AUG 16 2024 in the City of Iloilo, Philippines. (SGD.) WILLIAM S. JASTILLANO (Affiant) (SGD.) WINONAH J. DIAMANTE (Affiant) SUBSCRIBED AND SWORN to before me this AUG 16 2024 in the City of Iloilo, Philippines. The affiants are personally known to me and exempted from presenting competent evidence of their identities as required under the Rules on National Practice. (SGD.) ATTY. KIA MARIE E. PANO Notary Public Doc. No. 397; Page No. 72; Book No. II Series of 2024.
Square A BusinessMirror Special Feature
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Monday, August 31, 2026 | www.businessmirror.com.ph
PHL condominium sector remains ‘intact’—what does it actually mean?
The market shift has given rise to a pragmatic new wave of buyers seeking affordable, ready-to-occupy properties built for long-term stability rather than quick gains.
Condos are no longer viewed strictly as speculative luxury assets, but as accessible, resilient housing options for practical end-users. PHOTO BY BERNARD TESTA/BUSINESSMIRROR.
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By Vincent Peter Rivera
VER the past decade, the Philippine real estate landscape has weathered a dramatic cycle of euphoric highs, sharp corrections, and structural recalibrations. Today, despite macroeconomic headwinds and a record-high unsold inventory, the market remains resilient and is heading towards a more sustainable trajectory. According to Leechiu Property Consultants’ (LPC) First Half 2026 Philippine Market Report, the residential market continues to hold its ground despite geopolitical tensions, elevated interest rates, and accelerated inflation. “The demand is intact despite inflation, higher borrowing costs, and global uncertainty,” noted Roy Golez, LPC Director for Research, Consultancy, and Valuation. He cited that during the first half of 2026, residential take-up grew 6 percent year-on-year to approximately 40,500 units during the first half of 2026, demonstrating persistent demand among buyers. Encouraged by this momentum, real estate developers increased new project launches by 18 percent over the same period, signaling sustained long-term confidence in the market’s trajectory. While the current inventory
sits at a record 82,900 units, Golez emphasized that this represents roughly 34 months of supply— a level market analysts view as healthy and manageable given current absorption rates. During the report presentation, Golez also revealed that the strongest momentum of the real estate sector is now shifting to both Northern and Southern Luzon. Drawing from this first half report, the change in rhythm of production, demand, and accessibility doesn’t only suggest a change in numbers alone but in terms of consumption.
Reshaping consumer behavior
Between 2010 and 2018, the Philippines experienced an unprecedented property boom. Driven by low interest rates, steady overseas remittances, and expanding commercial hubs, residential prices in
Cautious movements. Condo buyers are focusing more on value and affordability, while developers are taking a closer look at which projects to move forward with. PHOTO BY BERNARD TESTA/BUSINESSMIRROR.
Central Business Districts (CBDs) surged by 125%—or 77% when adjusted for inflation—according to Global Property Guide. During those peak boom years, speculative “flipping” became a dominant strategy among real estate investors. The practice, as defined by ebsco.com, involves buying properties to resell quickly for short-term profit rather than holding them for long-term appreciation. Investors typically relied on one of two methods: capitalizing on rapidly appreciating markets to resell with minimal added investment, or purchasing undervalued properties, renovating them, and selling at a premium. However, that momentum hit friction in 2019. A cooling domestic economy combined with the escalating US-China trade war slowed growth dramatically, with house prices edging up by a meager 0.9%—a 1% contraction in real terms. The onset of the COVID-19 pandemic in 2020 dealt an even heavier blow: inflation-adjusted residential prices plummeted by 14.55% in the third quarter alone, leaving the Philippines among the world’s worst-performing residential housing markets by year-end.
In the face of these economic headwinds, speculative flipping has largely lost its luster. Instead, the market shift has given rise to a pragmatic new wave of buyers seeking affordable, ready-to-occupy properties built for long-term stability rather than quick gains. “Demand is still there, but people are being much more careful about where they put their money,” Golez noted. “Buyers are looking harder at value and affordability, while developers are taking a closer look at which projects to move forward with.”
Institutional support in bridging the gap
As buyer priorities shift from rapid speculation to long-term dwelling, the mechanisms through which Filipinos acquire real estate are evolving just as rapidly. Where high entry costs once posed a formidable barrier to middle-income end-users, expanded institutional frameworks and creative developer financing are reopening doors to property ownership. Central to this transformation is the government’s Pambansang Pabahay para sa Pilipino (4PH) Program. According to the Philippine Information Agency, this program
is designed by the Department of Human Settlements and Urban Development (DHSUD) to directly address the country’s massive housing backlog. 4PH relies on public-private development partnerships to make formal urban housing viable. Through key financial channels like the Pag-IBIG Fund (Home Development Mutual Fund), the program provides substantial interest subsidies—effectively reducing annual borrowing costs to singledigit promotional rates (such as 3 percent per annum) for eligible lowto middle-income earners. Supported by extended 30year repayment windows and low equity requirements, the program allows working families to secure condo units without overwhelming their monthly household cash flow. At the same time, private developers are meeting buyers halfway by rolling out aggressive, consumer-friendly payment structures to counter the impact of elevated interest rates. To ease upfront financial pressure, major real estate firms are introducing stretched step-up down payments that allow buyers to start with minimal initial monthly amortization payments that gradually increase over time as their
earnings grow. Additionally, developers are offering zero-interest downpayment terms that spread equity requirements across 24 to 48 months, significantly reducing immediate liquidity strain. Beyond flexible equity schedules, stronger collaborations directly with retail banks—such as BPI, BDO, and UnionBank—are allowing developers to bundle bank registration fees straight into longterm loans, minimizing the initial lump-sum cash required at turnover. Together, this convergence of state-backed subsidies and flexible private-sector terms has effectively democratized condominium living. Condos are no longer viewed strictly as speculative luxury assets, but as accessible, resilient housing options for practical end-users. The Philippine residential property market is no longer defined by speculative frenzies. While macroeconomic friction and high inventory levels present near-term hurdles, the underlying engine— powered by real end-users, government-supported homebuyer programs, and regional infrastructure development—points toward a more mature and durable horizon.
Pag-IBIG loan reforms widen access to affordable homes
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By Marita Moaje/PNA
ANILA—The Department of Human Settlements and Urban Development (DHSUD) backed Home Development Mutual (Pag-IBIG) Fund’s latest housing loan reforms to benefit more Filipinos by making ownership more accessible. Under the new loan program, Pag-IBIG Fund rolled out promotional interest rates of as low as 4.5 percent for economic housing and raised its maximum housing loan amount to PHP10 million. It also retained its lowest three percent interest rate for socialized housing projects under the government’s flagship Expanded Pambansang Pabahay para sa Pilipino (4PH) program. “This is like hitting many birds with one stone. It will trigger economic activity in the housing and
real estate sector; boost government efforts to address the housing need without burdening the national coffers; prop up sales of the private developers; and [will be] good for homebuyers with much wider options in terms of financing schemes and the type of housing units they can avail [of],” DHSUD Secretary Jose Ramon Aliling said in a news release Tuesday. Pag-IBIG also eased its qualification rules by allowing up to three borrowers to combine their incomes under a single loan account.
It likewise began investing in reputable construction companies to support the development of more socialized projects. DHSUD said these measures aim to reach more Filipinos, from minimum wage earners to middleincome families, in line with President Ferdinand R. Marcos Jr.’s directive to expand access to decent and affordable housing, including those in the informal sector and the working class. They also strengthen the Expanded 4PH program by reducing its dependence on state funding. “Malinaw ang direktiba ni Pangulong Marcos Jr.—mas palawakin pa ang Expanded 4PH upang mas maraming pamilyang Pilipino ang matulungan na makamit ang pinapangarap na tahanan na ligtas, disente at abot-kaya (President Marcos Jr.’s directive is clear—expand the Expanded 4PH further so that more Filipino families can achieve their dream of a safe, decent, and affordable home),” Aliling said.
PHOTO FROM PAG-IBIG FUND FACEBOOK PAGE.
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www.businessmirror.com.ph | Monday, August 31, 2026
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Kaia Homes Tarlac: 4PH housing upgraded with private village amenities
As the government continues to encourage greater private sector participation under the Expanded 4PH Program, projects like Kaia Homes Tarlac is proof that affordability and quality can be delivered together. By Francine M. Marquez
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T’S every Filipino’s dream to own a home, but for those living within the lower income standard, the bare minimum is to have a roof over their family’s heads. Besides the government call to fill the 6.5 million backlog of housing units (a figure given by the Department of Human Settlements and Urban Development or DHSUD), and to reimagine what social housing should look like, property developer Citihomes Builder and Development, Inc. (CBDI) was challenged to step up to offer not just living spaces but a better quality of life for its residents. Through its affiliate company Kaia Homes, Inc. the group pushed boundaries and went beyond the regulatory directive. At the grand launch of Kaia Homes Tarlac on July 4, the company unveiled the newest benchmark offering for socialized housing: affordabible, comfortable, built with quality materials, and with a safe and family-friendly environment associated with private gated subdivisions. Located in Barangay Armenia, Tarlac City, it is along Cojuangco Highway and a 15-minute drive from New Clark City. The 48-hectare development, has 39 hectares dedicated to the residential project. It will 7,066 homes, making it one of Kaia Homes Inc.’s largest developments to date and the company’s third Kaia Homes project in its 12-year history of building socialized housing communities. Before launching the project, CBDI had discussions with the Pag-IBIG Fund in line with the government-expanded Pamban-
Socialized housing uplifted. Naya townhomes at Kaia Homes Tarlac. PHOTO BY FRANCINE M. MARQUEZ.
DHSUD Secretary Jose Ramon P. Aliling and Pag-IBIG Fund CEO Marilene C. Acosta (5th and 7th from the left respectively) visited Kaia Homes Tarlac recently as part of their tour of the province’s developments under the 4PH program. Welcoming them to the site are KHI chairperson Rosie Tsai and president John Phillip Wang (4th and 6th from the left respectively). PHOTO COURTESY OF KAIA HOMES TARLAC.
sang Pabahay para sa Pilipino (4PH) Program. Developers were encouraged to offer more than just the conventional socialized housing designs, and instead deliver move-inready homes that families could proudly call their own, with specifications required by law. For Kaia Homes, the Expanded 4PH program challenged it’s developers to deliver quality living spaces within the price ceiling of socialized housing. Kaia Homes, Inc. president John Philip Wang told BusinessMirror, “Our position on the matter Is, yes, there are government regulations on the requirement but why stop and deliver what the government requires? The delivery of the features here at Kaia Homes Tarlac is in line l with what we deliver in our other subdivisions and housing projects. It
scribed under BP 220 Socialized classification. All townhouse units in Kaia Homes Tarlac will be equipped with astrofoil roof insulation to reduce indoor heat and ambient noise, painted ceilings and interior walls, window screens, durable steel rear doors, window grills, lavatories, and other features refined from Kaia Homes’ previous developments, including push-button water closets, telephonetype shower heads, and deadbolt security locks for both front and rear entrances. Recognizing the importance of making connections with people in the neighborhood, Kaia Homes Tarlac has also added village-style amenities such as a basketball court / sports hub, two open basketball courts, two clubhouses, two multi-purpose halls, and play-
comes with trying to understand the buyer, focusing our efforts around the buyer and putting ourselves in the place of the buyer. “It can be as simple as the required standard. Or, you can do it better. Kaia Homes Tarlac, just like our other projects, is designed and built with the buyer in mind, first and foremost.”
Family-friendly
Designed with the growing family in mind, each Naya Townhouse unit consists of a twostorey home with a 32-square-meter floor area on a minimum 30-square-meter lot. It comes with two bedrooms, one toilet and bath, a rear kitchen, and a space for a motorcycle or e-bike. The developer takes its vision further with amenities beyond the minimum standards pre-
grounds throughout the community.
Affordable amortization
Units begin at Php999,000 for an inner Naya townhouse unit with lot area of 30.5 sqm and floor area of 32.5 sqm. A Naya unit at the end or firewall area is Php1,026,000, with lot area of 30.5 sqm and floor area of 32.5 sqm. A corner Naya unit is Php1,165,725, with 41.3 sqm. lot area and 32.5 floor area. Through Pag-IBIG financing, qualified buyers may own a home for monthly amortizations starting at around Php 4,005, showing that improved housing quality need not come at the expense of affordability for ordinary Filipino families. Established in 2014, Kaia Homes Inc. was
always focused on socialized housing. Its vision was always consistent: delivering homes that exceed both industry practice and government requirements. Kaia Homes Tarlac is no exception. As the government continues to encourage greater private sector participation under the Expanded 4PH Program to address ntry’s housing backlog, projects like Kaia Homes Tarlac is proof that affordability and quality can be delivered together. According to Wang, the vision is clear for Citihomes Builder and Development, Inc and its affiliate Kaia Homes Inc. “This is not your typical socialized housing community,” he said. “This is socialized housing thoughtfully elevated, a community that gives Filipino families more than just a house. It gives them a neighborhood they can proudly call home.” On why his company aims to go beyond the standard regulations for s ocialized housing, Wang commented: “There are many ways to answer that question, but there is no single answer on why we keep doing what we do. We just know that this is what we do. It’s our purpose. What I can share is that with the people in the company, it’s not for the money, not for the recognition, not for the accolades, we know it’s just our purpose. “Every day, we’re thinking about the next project and during the research period, we think, ‘How do we make the project better than the last one?’ We practice the principle of Kaizen, which is about always improving on one’s trade or craft Purpose, a single word, answers why we do what we do.”
A8
The World
Monday, August 31, 2026
Editor: Dennis Estopace • www.businessmirror.com.ph
Nepal warns of more floods as rescue ops risk disruption
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EPAL issued a fresh warning as water levels in a key river rose, threatening to disrupt rescue efforts after catastrophic flooding killed hundreds and left thousands still missing along its border with China.
Rescue personnel and those providing relief services in regions surrounding the Bhote Koshi river’s path were told to exercise “utmost caution,” the National Disaster Risk
Reduction and Management Authority said in a post on X. At least 690 people have been confirmed dead, while over 3,000 are still unaccounted
Pilandok. . . Continued from A1
gustiness of up to 55 km/h. It is moving west-northwestward at 15 km per hour. PIlandok, according to Pagasa, is unlikely to make landfall, as it is predicted to be a short-lived tropical depression until it exits the Philippine Area of Responsibility on September 1. However, habagat will continue to dump moderate to heavy rain on many areas in Luzonstill reeling from severe flooding.
Heavy rainfall, severe flooding in Luzon
PAGASA has issued Weather Advisory No 31 for the southwest monsoon. It said 100 to 200 mm of rain are forecast to affect Ilocos Sur, Pangasinan, La Union, Benguet, Bataan, Zambales, Tarlac and Pampanga until August 31, while Ilocos Norte, Ilocos Sur, la Union, Pangasinan, Abra, Benguet, Zambales and Bataan will be affected until Wednesday, September 2.
for, according to figures provided by Nepal and China. The death toll is likely to rise as rescue workers speed up efforts to retrieve bodies. The catastrophe was triggered on Wednesday by a glacial collapse that sent ice, mud, rocks and fast-moving water surging through a valley in Nepal, wiping out entire settlements in their path. Videos showed people attempting to flee as walls of water and debris swallowed buildings, tore down bridges and power lines, and washed away trees, boulders and vehicles. “It was a horror to walk around. It looks like a bomb blew up, a bomb made of mud, there’s nothing left,” David Fisher, head of the Nepal Under these conditions, numerous flooding events are likely, especially in areas that are urbanized, low-lying, or near rivers. The weather bureau also warned of possible landslides in moderately to highly susceptible areas. Angat dam, Ipo dam and San Roque Dam, meanwhile, recorded rapidly increasing water levels amid the heavy rainfall. The NDRRMC said that floodgates have been opened in Ipo Dam, due to continuous rain. Severe flooding is currently affecting Pampanga, Bataan, Zambales, Tarlac, Nueva Ecija, Bulcan, Metro Manila, Rizal, Laguna and Cavite, the NDRRMC reported.
Storm, habagat death toll now 32
IN its latest update on the combined effects of Tropical Cyclones Luis, Maymay, Neneng and the southwest monsoon issued at 6 a.m. on August 30, the National Disaster Risk Reduction and Management Council (DRRMC) said the casualty count has risen to 32 dead, 19 injured and 3 other persons missing. An estimated 2.3 million families or 8.1 million persons were affected. The NDRRMC said that 13,500 families or 43,500 persons remain in 523 evacuation centers. Severe flooding has damaged at least 3,200 homes. The NDRRMC said damage to public and private infrastructure reached P6.16 billion while damage to crops is pegged at P2.32 billion. It continues to assist the affected families, inside and outside evacuation centers, with cost of assistance reaching P1.69 billion.
P6B to repair damaged, flooded schools
THE Department of Education (DepEd) said it needs over P6 billion for the major repair and reconstruction of classrooms and 1,630 schools damaged by flooding and landslides. The DepEd Disaster Risk Reduction and Management Service (DepEd-DRRMS) reported 5,666 classrooms with minor damage, 2,029 with major damage, and 2034 classrooms totally damaged. The DepEd said it would need P1, 027 billion for major repair of 630 classrooms, P5.207 billion for reconstruction of 484 schools, P280. 819 million for minor repairs of 1, 459 classrooms, and another P47.889 million for clean-up and clearing operations. At least 1, 309 classrooms in 348 schools are still being used as evacuation centers for 11, 320 families as of August 30. The department said it maintains close coordination with field offices to track emerging impacts, validate class suspension data through the “Walang Pasok Monitor,” and support timely clearing and repair of affected schools.
AFP deploys rescue units
THE Armed Forces of the Philippines (AFP) has deployed personnel, vehicles,
Taguig. . . Continued from B8
areas on the Taguig City side of Laguna de Bay. The uncovered land titles were based on the materials provided by the Philippine Reclamation Authority (PRA) to Lacson’s office. “I requested the LRA to backtrack the history of the issued OCTs (original certificates of title) and other modes of titling, so we will find out how they were manipulated with the end in
Uptown. . . Continued from A4
Also part of the CamSur Uptown Global City Development is the tech-focused School of the Future, which is nearing completion and will soon be equipped with world-class facilities designed to upskill young Camsureños in digital technology, AI, data analytics, cybersecurity and other
delegation for the International Federation of Red Cross and Red Crescent Societies, told Bloomberg. “People have lost everything.” Fisher last Saturday visited Nuwakot , an affected district still partially accessible by road. Thousands of people who have been displaced are taking shelter in any surviving buildings on higher ground, including houses of worship, hospitals and government buildings, he said. Nepal has mobilized over 18,500 military and police personnel on challenging rescue missions, including in settlements steeped in sludge and at hydropower projects where workers have been trapped in tunnels. Tunnel experts from India and
China have joined in rescue efforts as well. Attempts to open the tunnel entrance at the Trishuli 3 ‘A’ Hydropower Project located in Rasuwa have intensified since early Saturday morning, the prime minister’s office said on X. China said last Saturday it had deployed nine tunnel experts to Nepal to help in rescue operations at a hydropower station, CCTV reported. India sent an 11-member medical and tunnel rescue team. A fourth flight from India reached capital Kathmandu with essential supplies and “technical capabilities” to support rescue and relief operations in Nepal, India’s Foreign Minister S. Jaishankar said on X. Bloomberg News
and other humanitarian assistance and disaster response (HADR) assets to Tarlac, Pampanga, and Bataan to support local government units and disaster response agencies in addressing the severe effects of the southwest monsoon (habagat). AFP disaster response teams assisted in the transport and distribution of relief supplies, supported rescue operations in floodaffected communities and helped distribute food packs to affected areas in Central Luzon. “The AFP continues to work alongside national and local government agencies in delivering timely assistance, protecting communities, and saving lives in support of its mandate for humanitarian assistance and disaster response,” the AFP added. The Philippine Air Force (PAF) Tactical Operations Wing Northern Luzon and Tactical Operations Group 3 (TOG 3) is supporting ongoing search and rescue operations following the collapse of a portion of Agana Bridge in Tarlac on Aug. 29. The incident involved a Toyota Avanza carrying five passengers that fell into the river. One individual was recovered and brought to Tarlac Provincial Hospital, while efforts continue to locate the four others.
the strong current of the Tarlac River. Public Works Secretar y Vince Dizon ordered the installation of barricades and a continuous structural assessment of the collapsed section during an inspection of the bridge, and dispatched engineers from Manila to determine the fastest way to restore access. “Nagpapunta na ako ng mga engineers mula sa Manila, para i-assess kung anong pwede nating gawing mabilis para lang maging passable sa light vehicles itong Aquino Bridge,” Dizon said. The secretary said the immediate plan is a temporary crossing rather than a full replacement. “Let’s build a temporary bridge in the meantime, let’s not focus on building a replacement yet. We just need this to temporarily accommodate light vehicles,” he said. “We need to make this bridge passable because this is critical for our countrymen.” While a detour bridge is available, Dizon noted that it cannot accommodate larger trucks. The move follows a directive from President Ferdinand Marcos Jr. to speed up the response to infrastructure damaged by the Southwest Monsoon (Habagat). Dizon said the President has assured the agency of the funding it will need for the repairs. The Aquino Bridge collapsed after continuous rains brought by the Habagat swelled the Tarlac River, weakening the structure until a portion gave way.
Four river systems under close watch
THE Office of the Civil Defense and the Mines and Geosciences Bureau (MGB) continues its risk assessment of river systems and areas that may be susceptible to flash floods, particularly in Central Luzon. Based on the initial assessment, the OCD said in Zambales, the public and local governments should monitor the water in the Bucao River, which may affect the town of Botolon; Tangway River, which may affect the town of Tabangan, Maloma for the San Felipe town; Maloma River to affect San Felipe; Santo Tomas River to affect San Marcelio and San Felipe. In Pampanga, the Pasig-Potrero River is at risk of overflowing, thereby affecting Sta. Rita, a portion of Porac, and Bacolor; the Porac-Gumain River, which affects Porac and Floridablanca; and the Abacan River, which may trigger flash floods in Angeles City and nearby rivers. In Tarlac, overflow of the O’Donnell River may trigger flash floods affecting portions of Capas and Tarlac City. “Residents living near these river systems and in low-lying and flood-prone areas are advised to remain vigilant for possible rapid increases in water level and flash floods,” says OCD Asec Bernardo Rafaelito Alejandro Jr. The OCD also called on the public to avoid crossing rivers, streams, and flooded areas.
Tarlac bridges
Dam breaks, sweeps away homes
ON Friday, a surge of water overwhelmed the Sto. Cristo Dam on Friday, August 28, portions of its retaining wall and slope protection and sweeping away at least four houses as heavy monsoon rains triggered flooding and forced evacuations in downstream communities in Pampanga. The National Irrigation Administration said the dam could not accommodate the large volume of water coming from upstream, causing water to overshoot and change course. The redirected flow damaged portions of the dam’s slope protection and retaining wall, according to NIA and the Pampanga provincial government. Large amounts of forest and agricultural debris had also accumulated near some openings of the dam, potentially affecting the normal flow of water, officials said. The extent to which the debris contributed to the incident had not yet been established. The Sto. Cristo Dam is located between Barangays Sto. Cristo and Sta. Rita. Governor Lilia Pineda inspected the damaged portion Friday as engineers assessed the structure and monitored water coming downstream. She said authorities were also evaluating whether water levels could continue to rise as additional runoff came from mountainous areas. With Rex Anthony Naval,
THE Department of Public Works and Highways (DPWH) said on Sunday it will build a temporary structure to restore passage for light vehicles across the damaged Aquino Bridge here, after a portion of the span collapsed under sustained monsoon rains and
Lorenz S. Marasigan, Ashley Manabat and Claudeth Mocon-Ciriaco
view of filing criminal charges against those responsible,” Lacson said. These titles may be declared void ab initio (void from the start) once the PRA initiates forfeiture proceedings, he added. Earlier, Lacson said several crates of documents from the Department of Public Works and Highways (DPWH) related to anomalous projects in Taguig City were also set to be turned over to the Office of the Ombudsman. A fact-finding investigation into the Taguig projects has been started by the
Ombudsman who issued subpoenae to the DPWH, PRA, LRA, and the Taguig Registry of Deeds for relevant records. Evidence from at least five case studies involving alleged anomalies in Taguig infrastructure projects, including alleged ghost projects, double appropriations, the use of recycled photographs for billing, and the alleged use of appropriations for slope protection projects to fund reclamation activities, were earlier turned over by Lacson to the Ombudsman.
future-ready know-how to enable them to compete, innovate and lead in the global cyberspace. Right after this year’s breakthrough run of tennis ace Alex Eala in world tennis, Gov. Villafuerte had invited corporations, sports groups and investors to partner with the provincial government in putting up the country’s first-ever tennis academy at CamSur Uptown, with an eye to nurturing more world-class Filipino athletes in Eala’s
mold in this racket sport. Villafuerte wants his proposed tennis academy at CamSur Uptown to be on the par with the premier Rafa Nadal Academy, which was founded in 2016 by Rafael Nadal—once ranked Number 1 in men’s singles by the Association of Tennis Professionals (ATP)—in his hometown of Manacor in Mallorca, Spain, and where Eala trained from the age of 13 until she finished her studies at the academy in 2023.
Gun. . . Continued from B8
and seizures of whatever nature and for any purpose shall be inviolable, and no search warrant or warrant of arrest shall issue except upon probable cause…” He added that if the National Police wants “to inspect our firearms at home, the correct and constitutional way to do it is for them to get a search warrant issued by the court, for every single house inspection. Hence, Remulla’ss suggestion is unconstitutional.” “In addition, given that there are at least 2.5 million lawful gun owners, this is impossible to do in a practical setting. Even if the court allowed this, it would cost billion and billions pesos to do all that every year. All that money can go to something else more productive, like building more hospitals, roads and bridges,” Rico explained. Besides, Rico also cited a Supreme Court ruling in 2019 when the gun group Peaceful and Responsible Owners of Guns (Progun) won in the Acosta v Ochoa (G.R. No. 211559). The SC ruled that while the state can regulate firearms, the National Police cannot enter or inspect the homes of gun owners and license applicants for storage compliance without a court-issued search warrant. “In this Supreme Court ruling, the SC ruled with finality against this and that the PNP-FEO [Firearms and Explosives Office] cannot make lawful gun owners waive their rights away, even if the PNP forced them to, as a requirement to an LTOPF application or firearms registration,” Rico added. In defending his proposal, Remulla explained that: “We do not mean to catch them [legal gun owners] as criminals. We just want to make sure that they’re inspected, that their safekeeping of firearms is done in a proper way and that they have the proper facilities.” The secretary’s call follows the fatal shooting at the Ateneo de Zamboanga University on August 18, where a student gunman killed a fellow student before taking his own life and reportedly livestreamed the attack. The incident came less than two months after three students were killed in the San Jose National High School shooting in Tacloban City and only weeks after thirteenyear-old Aaron Miguel Duran Ontong was fatally stabbed by a fellow student inside Las Piñas National High School.
Garbage. . . Continued from B8
Castro said over the weekend. She said the road leading to the landfill has also been difficult to access. The landfill was scheduled for another temporary shutdown Friday owing to heavy rains and flooding. In a memorandum dated August 28, EcoProtect Management Corp., which manages the sanitary landfill facility, said it would cease operations Friday because of “heavy rain and flooded road networks.” Normal operations and waste acceptance were scheduled to resume Saturday, August 29, at 6:00 a.m. The latest shutdown follows an earlier temporary closure on August 16 and 17 for maintenance and rehabilitation work on the landfill’s disposal cells and internal road networks, according to Porac’s Joint Inspection Team. Castro said the city government handles garbage collection along major thoroughfares, while barangays are primarily responsible for collection within their respective areas. “Barangays are doing their best, but the problem is external,” she said. Castro added that Cenro has been coordinating with barangays on solid waste concerns. At least one barangay has hired a private hauler because of the disruption, Castro said. She also said barangays submit their schedules to Cenro, but the office cannot confirm whether if are consistently followed. “As for the city, we are collecting garbage on a daily basis,” said Castro.
Backlog remains
CASTRO said continued rain has slowed waste disposal operations. Cenro is coordinating complaints with the concerned barangays, she said. “All complaints brought to our office are immediately coordinated with the barangays,” Castro said. Cenro said it will provide the barangay garbage collection schedules once they become available. Residents who experience missed collections are advised to coordinate with their respective barangay, Castro said. Complaints may also be reported to Cenro for referral to the appropriate local authority.
www.businessmirror.com.ph
2nd Front Page BusinessMirror
Monday, August 31, 2026
A9
With ‘zero budget,’ NSWMC PROJECT FOR WATERSHED, TOURISM must implement ‘garbage law’ TIEZA OKS P350-M MT. ISAROG B M. S F. A
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Special to the BM
HE Tourism Infrastructure and Enterprise Zone Authority (Tieza) has approved a project aimed at protecting a critical watershed, as well as boosting visitor arrivals in Naga City, Camarines Sur. Tieza Chief Operating Officer Dr. Mark T. Lapid told the BUSINESSMIRROR he recently visited Naga City Mayor Maria Leonor Gerona Robredo to officially inform her that the Tieza Board has approved her P350-million request to fund the development of the 25-hectare Mt. Isarog National Park. “We are already preparing the bid documents for the project,” he said, which is “necessary to protect a critical watershed, while enabling sustainable economic growth for Naga City and its surrounding communities.” While the vital project was proposed by Robredo for 2027 Tieza funding, Lapid said it needs to be fast-tracked “before our funds run out.” Lawmakers continue to push the removal of the travel tax, without identifying alternative funding sources to aid the development of tourism destinations. The travel tax, projected to reach P9 billion this year, funds vital tourism projects such as the development of tourism master plans for destinations, reconstruction and upgrade of historical or heritage sites, the provision of vital water supply systems in key tourism destinations, provision of hyperbaric chambers, and the like. (See, “Tourism com-
petitiveness at risk in travel tax junking,” in the BUSINESSMIRROR, Feb. 23, 2026.)
Ecological stability in Bicol
AS per the Tieza project brief, Mt. Isarog serves as a “primary source of water and ecological stability in the Bicol Peninsula [and thus,] plays a vital role in sustaining agriculture, domestic water supply, and biodiversity. The absence of proper infrastructure and management mechanisms exposes the area to environmental degradation caused by unregulated access and informal activities.” Tieza added, “The proposed development addresses these concerns through the provision of controlled access, visitor facilities, and environmental protection measures, ensuring that tourism activities are conducted in a sustainable and regulated manner.” Under the project, the scope of work includes the provision of Forest Park administrative office and pre-park amenities; camping grounds, lodges, and spa; the repair of existing facilities; installation of wildlife conservatories; waterfalls development; canopy walks and trails; landscaping; and hauling works; among others. In May, Robredo unveiled a new tourism brand for the city, with the slogan: “Naga is the heart,” identifying it as the gateway to Bicol Region. No updated figures have been made available, but in 2022, Naga City attracted some 2.2 million tourists, of which, 2.13 million were domestic travelers, and 57,522 were foreigners. She has also met with industry leaders to secure their inputs on how to improve tourism in the city. S “T,” A
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B J L. M
@jonlmayuga
HE National Solid Waste Management Commission (NSWMC), the primary government agency tasked with implementing Republic Act 9003—also known as the Ecological Solid Waste Management Act of 2000—is operating on a tight budget: It has zero appropriation and relies only on a meager budget provided by the Department of Environment and Natural ResourcesEnvironmental Management Bureau (DENR-EMB). This was disclosed during the public hearing of the House Committee on Appropriations on August 26, tackling the DENR’s proposed P28.04 billion budget for 2027. Ignatius Loyola A. Rodriguez, DENR Undersecretary for Special Concerns and Legislative Staff and concurrently the NSWMC chair, said the unit has no budget, adding that it only gets around P3.5 million a year from the budget of the DENR-EMB, which acts as the secretariat. Because of this tight budget, the NSWMC has no staff, who are sup-
posed to be the ones monitoring the implementation of the law. Operating under the Office of the President, the NSWMC is chaired by the Secretary of the Department of Environment and Natural Resources (DENR). The Environmental Management Bureau (EMB) provides secretariat and technical support to the commission. Deputy Majority Leader Jose J. Teves Jr. slammed the failure of the NSWMC for failing to implement RA 9003. He said the DENR-EMB is mandated to monitor the implementation of environmental laws, includ-
SAY FLOOD!
A resident takes a selfie as he rides a small boat along a flooded street caused by intense monsoon rains in Quezon City. The flooding was part of the prolonged impact of the enhanced southwest monsoon, or habagat, which has combined with the effects of tropical cyclones Luis, Maymay and Neneng to bring heavy rains and flooding to several parts of the country. As of 6 a.m. Sunday, August 30, the Department of Social Welfare and Development (DSWD) said it had distributed 2,335,404 family food packs, 14,896 non-food items and 23,694 ready-to-eat food boxes to affected communities. The relief assistance, provided through augmentation requests from local governments, covers the National Capital Region and 10 other regions. AP/AARON FAVILA
ing RA 9003. Teves recalled that in the last budget hearing, when now DENR Secretary Juan Miguel Cuna was only an Assistant Secretary, he promised to “fi x the garbage problem.” However, years later, the same problem persists, asking anew how the DENR chief plans to address the solid waste management problem that contributes to severe flooding. In response, Cuna said an interagency meeting was held recently in response to the severe flooding blamed poor enforcement of the garbage law. On top of proposals such as a ban on single-use plastics, he underscored the importance of implementing the law, from segregation to disposal to sanitary landfills. “Improper waste disposal is the root cause of the contribution of solid waste to the flooding,” he said, adding that during the meeting, which included the DPWH and DILG, stricter monitoring and enforcement are needed. Atty. Michael Drake P. Matias, Director of the DENR-EMB, said while 92 percent of local government units (LGUs) have approved 10-year Solid Waste Management Plans by NSWMC, only a few LGUs are actually implementing them. “Our focus right now would be to monitor the compliance of these plans as approved by the NSWMC. The plans include segregation at source, segregated collection, and as mandated by law, only residual waste should go to sanitary landfills,” he said. He also noted that what is being dumped in sanitary landfills is mixed waste, which is why the landfills are quickly filled with garbage. Matias said an order has been handed down to the DENR’s Regional Offices to monitor compliance with the law. Teves, however, noted that while there may be waste segregation, he asked whether the NSWMC has partners to speak off to collect the recycled garbage. Rodriguez, however, said that since it was set up, the NSWMC has been working with various stakeholders and in partnership with the local government units (LGUs), nongovernment organizations, and community-based groups. “Because we have no staffing, it’s the Commissioners themselves that do the rounds to check the compliance. If I am not mistaken, only 15 to 20 [LGUs] are being inspected,” he said. He added that the NSWMC has already asked the DILG to create and activate the Barangay Solid Waste Management Commission, prodding LGUs to pass an LGU resolution or ordinances to that effect. Meanwhile, in a statement, the DENR said while it is undertaking sustained cleanup of waterways, it is also looking at longer-term
measures to address the recurring problem of pollution in waterways, rivers and drainage systems. Cuna underscored the value of Extended Producer Responsibility (EPR) and the Philippine Ecosystem and Natural Capital Accounting System (Pencas) as complementary long-term approaches in managing plastic waste. Under Republic Act No. 11898, or the Extended Producer Responsibility Act of 2022, covered enterprises are required to establish programs for the recovery and diversion of plastic packaging waste, with an 80-percent plastic waste diversion target by 2028. Alongside prevention at the source, DENR also sees Pencas as a tool to strengthen deterrence against repeated abuse of natural resources, including water resources. Pencas provides a framework for recognizing the true value of natural resources and the ecosystem services they provide. By improving how these resources and services are valued, the environmental costs of damage can be better recognized, giving habitual violators greater reason to think twice before repeating activities that harm waterways and other ecosystems. Currently, the Department is utilizing 196 trash traps to collect floating and accumulated waste from waterways, while mobilizing 1,500 Estero Rangers and River Warriors to monitor and clean esteros and rivers in the National Capital Region. DENR is likewise continuing its Adopt-an-Estero Program, under which around 20 private companies, organizations, and government agency partners have adopted designated esteros to undertake corresponding cleanup, rehabilitation, and maintenance activities. “However, while sustained cleanup is necessary to keep waterways clear and reduce the immediate risks posed by accumulated garbage, it cannot by itself solve the country’s recurring garbage problem,” Cuna stressed. “Longterm solutions must also address the problem at its source and strengthen measures that can discourage repeated abuse of natural resources.” Cuna noted that recent cleanup operations in waterways across the country highlighted the urgency of these measures. “Nonetheless, the continuing presence of garbage in waterways also highlights the need for everyone to do their part in preventing waste from reaching these water bodies,” he added. “With government, businesses, local governments and the public working together, the Department is working to shift the focus from repeatedly cleaning up garbage to preventing improper waste management from becoming a recurring threat to waterways, communities and the environment,” he concluded.
LABOR GROUPS PUSH FOR P60 WAGE HIKE; SC TAKES UP CASE B M J J
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ABOR groups are pushing for implementation of the first P60 tranche of the National Capital Region’s (NCR) P85 minimum-wage increase as the Supreme Court takes up a petition challenging lower-court orders that halted the wage hike. The Association of Minimum Wage Earners and Advocates (AMWEA-PTGWO) said Wage Order No. NCR-27 should now be implemented after the temporary restraining order (TRO) issued by the Pasig Regional Trial Court
(RTC) lapsed. “Since the TRO has already lapsed and the preliminary injunction did not become effective, Wage Order No. 27 is now effective,” AMWEA-PTGWO said in a letter to Labor Secretary Francis N. Tolentino. “Companies should now pay the P60 minimum-wage increase,” the group said. AMWEA-PTGWO is among the labor groups that intervened in the declaratory-relief case filed by Readycon Trading and Construction Corp. and R-II Builders Inc. before the Pasig RTC Branch 152. A writ of preliminary injunction was granted on Aug.13 barring the
NCR Regional Tripartite Wages and Productivity Board (RTWPB) and the National Wages and Productivity Commission (NWPC) from implementing Wage Order No. NCR-27. The injunction was conditioned on Readycon and R-II Builders posting a P10-billion bond. Readycon and R-II Builders did not post the required bond and instead sought reconsideration of the amount through a Manifestation and Omnibus Motion dated August 16, the labor group said. AMWEA-PTGWO argued that the case should not cover workers
and employers in the NCR who are not parties to the proceedings. “From the beginning, AMWEAPTGWO believed that workers in the NCR who are not parties to this case cannot be covered because a declaratory-relief action is an action in persona and not in rem,” the group said. The labor group said Readycon and R-II Builders’ pleadings also showed that their petition was intended to protect their own companies rather than all employers in the NCR. “Clearly, there is no longer any obstacle to implementing the first
tranche of the P60 minimum-wage increase,” AMWEA-PTGWO said. Meanwhile, the Federation of Free Workers (FFW) welcomed the Supreme Court En Banc’s action on a separate petition challenging the lower-court orders involving wage order. The Court directed Readycon, R-II Builders, Alliance of Philippine Fishing Federations Inc., the NCR Regional Tripartite Wages and Productivity Board and the National Wages and Productivity Commission to submit comments within 10 days from receipt of notice on the petition for certiorari and pro-
hibition in G.R. No. E-07950. FFW stressed that the Supreme Court’s directive is only part of the proceedings and does not yet constitute a ruling on the merits of the case. The labor group also said the Court has not granted the petition, issued the writs of certiorari or prohibition sought by the petitioners, or granted their requested injunctive relief. “For workers, every day that this is not implemented is another day of waiting for the benefit granted under the law,” FFW President and lawyer Sonny Matula said.
A10 Monday, August 31, 2026 • Editor: Angel R. Calso
Opinion BusinessMirror
www.news.businessmirror@gmail.com
editorial
The capability crisis: Why the MPI changes the poverty discourse
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HE Philippine Statistics Authority’s release of the Multidimensional Poverty Index (MPI) offers a sobering reality check that extends far beyond the headline figure of 12.8 percent— or 14.4 million Filipinos—living in multidimensional poverty in 2024. While the percentage may seem modest when compared to incomebased poverty metrics, the MPI reveals something far more insidious: poverty in the Philippines is not merely about the absence of money, but about the systematic denial of basic human capabilities. (Read the BusinessMirror story: “New PSA index goes beyond income in measuring poverty,” August 27, 2026).
The MPI’s methodology, which examines deprivations across education, health and nutrition, housing, water and sanitation, and employment, exposes the interconnected nature of disadvantage in ways that income statistics cannot. When 40.7 percent of multidimensional poverty stems from educational deprivation—the largest single contributor—we are forced to confront an uncomfortable truth: the country is failing to equip its citizens with the most fundamental tool for social mobility. This is not a new problem, but the MPI’s granular data makes it impossible to ignore. The fact that educational attainment and housing materials each register a 10.7 percent censored headcount ratio—the highest among all 17 indicators—suggests that the foundations of dignified life remain out of reach for millions. A family without adequate shelter and without educated members faces compounding disadvantages that perpetuate poverty across generations. Yet perhaps the most alarming finding is not confined to those officially classified as multidimensional poor. The uncensored deprivation rates reveal that certain forms of deprivation have become normalized across Philippine society. When 38.7 percent of all Filipinos—regardless of income status—suffer from housing-material deprivation, and 26.4 percent lack internet access, we are looking at structural failures that transcend traditional poverty lines. The 24.1 percent without proper sanitation facilities and 20.2 percent facing educational-attainment deprivation represent millions of Filipinos who may earn enough to avoid income poverty classifications but remain excluded from basic standards of modern life. This “hidden deprivation” poses a particular policy challenge. As De La Salle University economist Ma. Ella C. Oplas correctly observes, “being poor based on income should not necessarily mean being deprived of basic services.” The inverse, however, is equally troubling: millions who earn above poverty thresholds are nevertheless deprived of the building blocks of human development. The government’s responsibility extends beyond cash transfers and income support to ensuring universal access to quality education, adequate housing, sanitation, and digital connectivity. The MPI’s value lies precisely in its ability to illuminate these blind spots. With a national MPI of 0.045 and an average deprivation intensity of 34.7 percent among the poor, policymakers now have quantitative evidence of where interventions are most urgently needed. The data suggests that even among the multidimensionally poor, the average individual is deprived in more than one-third of weighted indicators—meaning poverty is rarely singular but rather a cluster of interconnected disadvantages. For a nation that has achieved upper-middle-income status, these numbers represent both a milestone and a mandate. Every child still deprived of education, every family living in substandard housing, every household without sanitation remains a drag on national productivity and a reminder that economic classification must translate into tangible human dignity. The MPI is not merely a measurement tool—it is a mirror held up to Philippine society. What it reflects is a nation where millions remain trapped not just by low incomes, but by systemic deprivation that limits their very humanity. The government’s response must match the scale of this revelation: targeted, multi-sectoral interventions that recognize poverty for the multidimensional crisis it truly is. Anything less betrays the 14.4 million Filipinos whose deprivation has finally been counted, and the millions more whose struggles remain hidden in plain sight.
Heroes Day 2026: Resilience is not a substitute for competence Atty. Jose Ferdinand M. Rojas II
RISING SUN
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AGUIO recorded 1,413 millimeters of rain in nine days this August. That’s nearly a year and a half’s worth of the city’s usual monthly average, compressed into a little over a week. Families climbed onto rooftops in Pampanga and Cavite, whole municipalities under water. Nearly 5 million Filipinos were affected across 10 regions. More than 50 cities and towns declared a state of calamity. And running underneath all of it, the fact that some of the flood-control structures meant to stand between that rain and those rooftops existed mainly on paper—ghost projects, substandard builds, money paid out for concrete that was never poured correctly, or never poured at all. But there is another side to this story: the volunteers wading in with rubber boats, the neighbors sharing what little dry rice they had, the strangers pulling each other out of floodwater. Bayanihan, we called it. Proof of the Filipino spirit. Our re-
silience in trying times. This is something that we should be honest about: how conveniently that resilience gets converted into an ending, as if that is all we need to solve our problems. A politician or influencer who wades through
Marcos’ 1977 proclamation meets 2026 reality: Why the watershed still isn’t safe
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floodwater handing out relief packs gets a viral clip and a socmed Like. The leader, the engineer, or the auditor who insisted two years earlier on proper specs or who flagged a contractor gets nothing. Prevention is not recognized and does not go viral. This is not a flaw in media culture, but rather a structural reason why ghost projects survive as long as they do. It also has to do with who we vote for. We tend to reward the leader we can see caring, one who seems warm, present, and photogenic in a crisis. We choose them over someone who is competent but whose work is harder to photograph or capture because it is simply unglamorous or is done without fanfare. Charisma can be highlighted in 30 seconds. Integrity, on the other hand, can be quite boring and sometimes only shows up in bid documents and maintenance logs. Malasakit. Now that’s a word that we’ve allowed to soften into something like a sentimental fudge. It is often seen as kindness shown after the fact. But the truth is that real
I
N the past two weeks, everything has seemed like a blur: residents wading through waist-deep floods, vehicles unable to move, and trash dumped onto the streets. Whenever hard rains strike Metro Manila, we look downstream—to clogged esteros, inadequate drainage, pumping stations, overflowing rivers, and flood-control projects. We keep asking the same question: why can’t the water be drained out faster?
Perhaps we should occasionally look in the other direction. Upstream. Beyond Marikina and Rizal lies a landscape whose value cannot adequately be measured by the limestone, aggregates or other materials that can be extracted from beneath it. The Upper Marikina watershed performs another kind of economic work. It buys time. A functioning watershed does not make torrential rain disappear. Nor can forests prevent every flood, particularly when extraordinary rainfall falls upon already saturated ground. What forests can do is intercept rainfall, encourage infiltration, increase the roughness of the landscape and slow surface runoff. Water that does not rush immediately downhill is water that arrives downstream later. Sometimes that interval matters. It is nature’s version of flood-control infrastructure. And that is why what has been happening in parts of Rizal
deserves attention far beyond Rizal. The argument over quarrying there has been going on for years. In fact, on April 18, 1977, President Ferdinand E. Marcos issued Proclamation No. 1636, withdrawing specified public lands in Bulacan, Rizal, Laguna and Quezon from sale, settlement, exploration or exploitation and declaring them a National Park, Wildlife Sanctuary and Game Preserve. The language was remarkably clear. Almost half a century later, the problem should have been settled. It wasn’t. But last April 25,2026, the NBI -Rizal District Office arrested two individuals for quarrying operations in Barangay San Salvador, Baras, Rizal. Two backhoes and a mini-dump truck were seized. But the more disturbing detail came from the government itself. A backhoe is difficult to hide. A quarry is even harder. Earth must be excavated. Heavy equipment must en-
ter. Material must leave. Trucks must travel roads. Somebody buys what has been removed. Illegal quarrying is therefore unlike many crimes that can be committed behind a closed door. It leaves marks upon the landscape and movements along public roads. And that raises an uncomfortable truth. Who is supposed to be watching? Gravity has no constituency. And therein lies the larger policy issue. Metro Manila’s flood-control strategy cannot begin only when rainwater has already reached Metro Manila. We build pumping stations to expel water. We deepen waterways to carry it. We construct floodways to divert it. All are necessary. But upstream forests perform another service before concrete infrastructure ever encounters the water. They slow part of its journey. When extreme rainfall is becoming harder to manage, every functioning layer of protection matters. Drainage matters. River capacity matters. Floodways matter. Early warning matters. And, most of all, the watershed matters. The recent catastrophe in the Himalayas offers a different but sobering reminder of how events high in a watershed can become disasters far downstream. Nepal’s tragedy reveals that what happens upstream does not necessarily stay upstream. This is why the continuing reports—and now documented law-enforcement action involving unauthorized quarrying in Baras—deserve more than another investigation followed by another press release. Government should establish pub-
malasakit for one’s fellow Filipinos would mean making sure the drainage works before the rain comes. Compassion that only arrives after the damage is done is, quite frankly, the cheaper version. The harder, more real kind of malasakit is honesty on the front end, the kind that refuses a kickback, rejects substandard materials, says no to a shortcut when nobody is watching. I am not saying we should stop helping each other when disaster strikes. The message is, rather: let us not allow it to end there. The people who lost homes (and loved ones) this August don’t need another tribute to their endurance. They needed that flood wall that was budgeted, approved, and paid for, but existed only on paper. Honoring heroes like Rizal and Bonifacio means refusing to accept less than what we deserve as a people. Let us stop admiring our talents for surviving our institutions’ failures, and start demanding that those institutions simply do the unglamorous work of not failing us in the first place.
licly where quarrying is presently occurring in the Upper Marikina river system; which operations possess valid permits; which do not; which areas fall within protected landscapes; what happened to the cancelled MPSAs; and what enforcement actions have followed. Satellite imagery makes changes in mountainsides increasingly difficult to conceal. Government should use it. Publish the maps. Publish the permits, as well as the coordinates, and the inspection reports. Let citizens see whether what exists on paper is what exists on the mountain. Because this is no longer merely an environmental argument between quarry operators and conservationists. It is a question of risk. More than 13 million people live in Metro Manila. Millions more live in the surrounding provinces. Every rainy season, the government spends enormous sums protecting communities and repairing what floods destroy. Perhaps we should begin assigning an economic value to the infrastructure that sends no invoice. The mountain. The forest. The watershed. We understand that back In 1977, the government looked at part of this landscape and decided that some places were worth more protected than exploited. Nearly 50 years later, the rainfall confronting our cities has become more dangerous. And the population waiting downstream has become vastly greater. The old proclamation therefore poses a surprisingly modern question. If we already know what the watershed protects, why is it still being extracted?
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Building things right Siegfred Bueno Mison, Esq.
THE PATRIOT
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OME politicians build canals. Others build dynasties. That thought occurred to me after a recent visit to Calauag, Quezon, a first-class coastal municipality of 81 barangays and roughly 70,000 people. Before my visit, I knew little about its history. I knew only that Calauag was named after the word crabs for which the town is known and the fact that Calauag’s early leader was a Spanish-born politician whose boyhood friendship with the eventual president of the Philippine Commonwealth helped propel his political career. Conversations with locals introduced me to a more intimate insight of this Calauag mayor who later prospered in the lumber business and acquired vast tracts of land in Calauag and nearby Tagkawayan. His name was Tomas Morato. Today, Morato is perhaps better remembered through Tomas Morato Avenue in Quezon City, which eventually became one of the famous restaurant and entertainment districts. But long before his name became a street, Morato had already left an important legacy in Calauag. He built what residents commonly call the Quezon Canal, connecting several barangays to the town market. Farmers and fisherfolk who previously spent hours traveling by land could transport their products by water in a fraction of the time. The canal reportedly reduced travel time by about 90 percent. Morato’s lumber business also flourished because timber could be transported through the canal. Residents of parts of Camarines Norte, whose barangays were once part of Calauag, likewise used it long after Morato left the town to become the first mayor of Quezon City. But, the interesting part for me is that none of his children or family members took over Calauag politics. Perhaps political dynasties were not yet in fashion in those days! Today, the Quezon Canal remains visible but is no longer the economic artery it once was. Parts of it have become unnavigable. Agricultural and fishing products from coastal barangays now depend largely on land transportation, many of such roads are poorly constructed or incomplete. This infrastructure is familiar throughout the Philippines. In my travels, I have seen roads that are concrete for one stretch and suddenly become gravel or mud. A completed portion abruptly ends, only to resume farther ahead. In major roads, electricity poles remain smack in the middle of newly built roads. These are hazardous for motorists. There can be legitimate explanations such as engineering problems, right-of-way disputes, or funding limitations. But when public infrastructure repeatedly remains unfinished or substandard, suspicions of corruption and political patronage inevitably arise. The recent and repeated floods all over the country have exposed them. It begs the question as to whether the infrastructure project was designed to serve the people in general or to serve the people who controlled the project. Back to Calauag. For more than a decade, the municipality has been politically dominated by the Visorde family. Like many local government units throughout the country, Calauag has gradually acquired the characteristics of a family-controlled political territory. I do not have enough information
to say whether Calauag has progressed or regressed under Visorde leadership. But the larger phenomenon is impossible to ignore. The Philippines has evolved into a collection of political fiefdoms. In many local government units (LGUs), what voters are really choosing is which member of a particular family will occupy the government seat next. The 1987 Constitution attempted to prevent this metamorphosis by prohibiting political dynasties “as may be defined by law.” But, sadly, the law never effectively came. The Constitution imposed term limits but did not effectively prohibit dynastic succession. When a politician reaches his term limit, his wife runs. Then perhaps the son, daughter, sibling or cousin. The position changes, but the surname does not. While democratic elections were observed, power remained in one family. Defenders of political dynasties argue that their constituents repeatedly elect them because they deliver services and provide continuity. But continuity of programs does not require continuity of bloodlines. I dare say that no family has a God-given monopoly on competence. There are many other Filipinos capable of governing in every province, town, or municipality. To suggest that only one family can govern a town, municipality, or province is an argument for political entitlement. This is where the political life of Tomas Morato offers an inconvenient lesson to today’s political dynasties. He built something useful for Calauag. Then he left. He did not insist that his children inherit the municipality. He moved to another political arena and became Quezon City’s first mayor. He left a legacy project instead of leaving behind a dynasty. Perhaps, Morato knew that public office is not private property and that any LGU is not a family corporation or an inherited estate. Yet political families often behave as though public office were a family franchise. The Marcoses have long dominated Ilocos Norte. The Singsons have been a powerful force in Ilocos Sur. The Ortegas in La Union, Villafuertes in Camarines Sur and Ynareses in Rizal are among the other prominent examples. Similar arrangements exist in countless smaller municipalities. Perhaps these families are merely following leadership guru John Maxwell’s principle that success without a successor is a failure. But a successor does not have to be a son, daughter, spouse or sibling. Otherwise, what we have is not succession but an inheritance whose power is kept by blood, as if royalty. Devolution under the Local Government Code was intended to bring government closer to the people. But devolution also brought substantial resources and po-
litical power closer to local political clans. When government resources, political machinery,familyinfluenceandpatronage converge, a local government can begin to resemble a family fiefdom. The result can be an electoral system where meaningful competition gradually disappears. The Bible offers a remarkably relevant lesson. When Moses became exhausted carrying the burdens of governing his people, his father-in-law Jethro advised him to delegate authority: “But select from all the people some capable, honest men who fear God and hate bribes.” (Exodus 18:21) What was not included in the criteria for selection was members of Moses’ family, people with familiar surnames, or relatives who can guarantee political continuity. Leadership was simply entrusted to people of character and competence, especially those not corrupt! That principle remains painfully relevant to the selection of leaders in the Philippines. But, social media has made political discernment harder. Propaganda now travels faster than facts. Candidates can manufacture images of competence, compassion, patriotism and even religiosity with carefully produced posts and videos. For believers, one useful standard is Jesus. His standard is demanding, but the core principle in good leadership is service with humility. Jesus taught that greatness comes from serving others, not from being served. Many politicians in the Philippines believe that government belongs to their family. The politician who believes he is indispensable has misunderstood leadership. He is not the owner. He is merely the temporary steward. Calauag, for me, represents much of the Philippines. Its people are friendly, hardworking, and sometimes resilient to a fault. Some residents have learned to accept poor roads, incomplete bridges and inadequate school facilities as simply part of provincial life. Others have accepted the abandonment of the Quezon Canal as another inevitable chapter in local politics. But resilience should never become resignation. Those in Calauag and the rest of the Filipinos all over should not have to accept unfinished infrastructure because it has always been that way. Nor should we accept political dynasties simply because they have been there, strong and in place. Perhaps Tomas Morato’s greatest lesson is not the canal he built. It is what he did after building it. He moved on and understood that a leader’s legacy is not measured by how long his family remains in power. It is measured by what remains useful after he is gone. Jesus Christ taught others after Him to insure continuity of the Christian faith. The Philippines does not lack leaders. Its citizens lack the political courage to choose the leaders who can continue community projects like the Quezon Canal in Calauag. Filipinos do not have to settle but must learn to discern. We must choose leaders who think and act as stewards of responsibility and not owners of power. Collectively, we must choose leaders who build things right. Siegfred has a diversified set of education and experiences which has made him a game changer and a servant leader in organizations. His professional degrees came from the United States Military Academy at West Point in New York, Ateneo Law School, and University of Southern California, Los Angeles, USA. His corporate experiences include stints as general counsel for the country’s flag carrier, a food exporter with manufacturing plants in Davao and in Laguna, and a sports distributor company. Siegfred is a former soldier and a lawyer by profession, a teacher and inspirational speaker by passion, and a book author and a writer with a mission.
Monday, August 31, 2026 A11
When memory becomes conscience: 1872, 2026, and the making of heroes By Pablo S. Trillana III
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ODAY, August 31, the Philippines observes National Heroes Day. There will be flags, speeches and wreaths. These are proper acts of remembrance. But if the day ends when the wreaths are laid, we may have remembered our heroes without asking the harder question their lives leave us: what makes a Filipino worthy of being remembered as heroic? The observance itself began with Act No. 3827 of 1931, which declared the last Sunday of August National Heroes Day. The law did not define a hero. That harder work came later. The National Heroes Committee in the 1990s spoke of heroes as those who possess a concept of nation, struggle for its freedom and order, contribute to its quality of life and destiny, become part of the people’s expression, and think especially of future generations. In 2023, the National Historical Commission of the Philippines codified and refined those standards, adding sacrifice, motive, methods, moral character and influence upon one’s own and succeeding ages. The Commission kept an equally important principle: heroes emerge through public acclaim and the judgment of time; they are not manufactured merely by proclamation. The standard is therefore demanding. Achievement is not heroism. Celebrity is not heroism. A championship, prize, title or famous name may make a nation proud without placing its possessor beside Rizal, Bonifacio, Aguinaldo, or Mabini. Heroism begins when excellence passes beyond the self —when talent becomes service, success becomes responsibility, sacrifice enlarges freedom, and a life changes the possibilities of those who come after. That is why 1872 remains our great hinge. On February 17, Fathers Mariano Gomez, Jose Burgos and Jacinto Zamora were executed at Bagumbayan. Their deaths did not immediately produce a revolution. They produced something quieter: questions. Rizal was 10. Bonifacio eight. Mabini seven. Lopez Jaena 15. Marcelo del Pilar was 21. Jacinto had not yet been born. Aguinaldo was only three. They were not yet heroes. They were unfinished Filipinos living beneath an injustice whose meaning would deepen with time. Memory fermented. It moved from GOMBURZA into reform; from La Solidaridad into Rizal’s novels; from argument into organization; from Bonifacio and the Katipunan into 1896. Mabini would give political thought and moral rigor to the revolutionary state. Jacinto would give the Katipunan an ethical vocabulary. Aguinaldo—controversial, imperfect, as historical actors usu-
Achievement is not heroism. Celebrity is not heroism. A championship, prize, title or famous name may make a nation proud without placing its possessor beside Rizal, Bonifacio, Aguinaldo, or Mabini. Heroism begins when excellence passes beyond the self—when talent becomes service, success becomes responsibility, sacrifice enlarges freedom, and a life changes the possibilities of those who come after. ally are—would nevertheless help carry revolution into sovereignty: independence was proclaimed under his leadership; the Philippine flag was officially unfurled; the Marcha Nacional Filipina was publicly played; and the First Philippine Republic emerged. Memory became conscience. Conscience became purpose. Purpose became action. Can 2026 be spoken of beside 1872? Not as an equivalent. We live under no identical colonial terror, and we should not manufacture a new pantheon simply because Filipinos win abroad. But 2026 may be another kind of hinge: old limitations are being challenged by artificial intelligence, global communication, science, and new fields of excellence. Young Filipinos increasingly ask not whether they are permitted to enter the world’s great arenas, but what they will do once there. Here we must d ist ing u ish achievers from heroes. The Philippines has abundant exemplar-achievers. Pacquiao showed that a poor Filipino fighter could conquer world boxing. Lea Salonga broke barriers on Broadway and the West End. Nora Aunor carried a distinctly Filipino sensibility into international cinema. Carlos Yulo placed Philippine gymnastics atop the Olympic podium. Gemma Cruz, Margie Moran and Pia Wurtzbach widened our international visibility; Paeng Nepomuceno and Efren Reyes became masters of their sports; SB19 showed that Filipino pop could travel far beyond our shores. Each enlarged confidence. None becomes a national hero simply because of applause. The medal, trophy, crown, or ovation is only an episode. Heroism asks what the whole life means to the nation. Some modern lives come clos-
I am ‘Acct.’: Giving accountants their professional identity Joel L. Tan-Torres
DEBIT CREDIT
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EARLY a decade ago, during my term as chairman of the Professional Regulatory Board of Accountancy from 2014 to 2018, I advanced a simple but meaningful advocacy: “I Am Accountant.”
The statement appeared in the materials I presented to newly licensed Certified Public Accountants during the November 2017 CPA oath-taking ceremonies. It was also embodied in an inspirational video for the profession. “I Am Accountant” was not intended merely as a slogan. It was a declaration of professional identity, accountability and pride. One concrete component of my advocacy was my recommendation that duly
registered and licensed accountants be authorized—and eventually required— to use the professional title “Accountant” or its abbreviated form “Acct.” when identifying themselves professionally. Thus, just as a physician may be addressed as Dr. Juan de la Cruz, a lawyer as Atty. Juan de la Cruz, an engineer as Engr. Juan de la Cruz, and an architect as Ar. or Arch. Juan de la Cruz, a duly registered accountant should be entitled to identify himself or herself
as: Acct. Juan de la Cruz, CPA, or Accountant Juan de la Cruz. This will give accountants a recognizable professional identity comparable with that enjoyed by members of other regulated professions. The titles used by other professionals immediately communicate their qualifications and responsibilities. “Dr.” identifies a medical doctor or another holder of a doctorate, depending on the context. “Atty.” identifies a member of the legal profession. “Engr.” is commonly used by registered engineers, while “Ar.” or “Arch.” identifies registered architects. These titles are placed before the person’s name and have become part of how the public recognizes and addresses members of these professions. Accountants, on the other hand, generally place the initials “CPA” after their names. While CPA is a highly respected professional designation, it is not always understood by the general public in the same direct way that “Doctor,” “Attorney,” “Engineer,” or “Architect” is understood. It’s as if CPAs are embarrassed to communicate to their public
that they are professionals. The word Accountant, or the abbreviated title Acct., immediately tells the public what profession the individual belongs to. My proposal does not seek to diminish the value of the CPA title. On the contrary, it supplements and strengthens it. “Acct.” identifies the profession, while “CPA” identifies the particular professional qualification and licensure of the individual. The use of Acct. Joel L. Tan-Torres, CPA, for example, unmistakably identifies both the profession and the professional credential. This proposal was included in the proposed revision of Republic Act 9298, or the Philippine Accountancy Act of 2004, which was prepared several years ago and submitted for consideration in Congress. The measure, Revised Philippine Accountancy Act of 2020, was introduced through the initiative of thenRepresentative Juan Miguel “Mikey” Macapagal-Arroyo of the Second District of Pampanga during the 18th Congress. The proposed legislation sought broader
structural reforms in the regulation of accountancy, including the creation of an Accountancy Regulatory Office, changes in the composition and functions of the Board of Accountancy, and recognition of different categories of licensed accountants. Significantly, Section 16 of the proposed measure provided that no person could practice accountancy or use the titles “Certified Accountant,” “Certified Professional Accountant” or “Certified Public Accountant,” or their abbreviated titles “Acct.,” “CA” or “CPA,” unless that person had received the appropriate certificate of registration, professional license and professional identification card. This provision expressly recognized “Acct.” as a qualified professional title. Its use would be reserved for those who had satisfied the prescribed education, examination, registration and licensing requirements. I continue to advocate going one step further: duly registered accountants should be encouraged, and ultimately required in appropriate professional
er to that harder measure. Fe del Mundo turned medical brilliance into lifelong service to Filipino children. Ramon Barba converted scientific perseverance into agricultural progress benefiting generations. Hidilyn Diaz’s gold was magnificent, but more enduring was the long discipline through obscurity, failure, and return that transformed personal struggle into national possibility. And then there is Alexandra Eala. By August 2026, at 21, she had already become the first Filipino to win a WTA Tour singles title and the first from the country to reach the second week of Wimbledon. Yet these achievements alone are not why she matters here. She enters a sport where the Philippines once seemed almost absent and carries her identity without apology: PHI beside her name, the flag in foreign grandstands, Filipino symbols in her public presence. More important are the habits beneath the spectacle—discipline after defeat, composure under pressure, humility in victory, gratitude to those who carried her, and her own insistence that representing the Philippines makes what she does “bigger than myself.” A champion tells Filipino children that we can win. An exemplar asks them what kind of people they will become when they do. That is the bridge between 1872 and 2026. The first generation had to discover that Filipinos could become a nation. Ours must discover what kind of nation Filipinos will build when technology and opportunity give them powers earlier generations could scarcely imagine. The printing press did not create Rizal’s conscience. Artificial intelligence will not create ours. Tools enlarge power. Character gives power direction. So perhaps National Heroes Day should ask not merely, whom do we remember? It should ask: who among us is turning talent into service, freedom into responsibility, achievement into sacrifice, and memory into action for people not yet born? We need not name the heroes of 2026. History needs time, and heroism should be difficult to earn. Our task is to keep the standard high. For the finest wreath we can offer our heroes is not made of flowers. It is a life lived so that somebody after us may walk a wider road. Dr. Pablo S. Trillana III is the former chair of the National Historical Institute, which is now the National Historical Commission of the Philippines. He is a distinguished historian who has also served as the president of the Philippine Historical Association.
transactions, to use “Accountant” or “Acct.” in their names, correspondence, reports, official profiles and professional dealings. The proposed title must not be treated as an ornament or a device for personal prestige. Every time a person uses “Acct.” before his or her name, that person publicly represents the accountancy profession. The title should therefore carry a commitment to competence, integrity, objectivity, professional behavior and accountability.
To be continued Joel L. Tan-Torres was the former Dean of the University of the Philippines Virata School of Business. Previously, he was the Commissioner of the Bureau of Internal Revenue, the Chairman of the Professional Regulatory Board of Accountancy, and a partner of Reyes Tacandong & Co. and SyCip Gorres and Velayo & Co. He is a Certified Public Accountant who ranked No. 1 in the CPA Board Examination in May 1979. He provides tax practice and advisory services with his firm, JL2T Consulting. He can be contacted at joeltantorress@yahoo.com.
A12
Monday, August 31, 2026
Sports BusinessMirror
mirror_sports@yahoo.com.ph | Editor: Jun Lomibao
POGACAR DOWN: CYCLING IS BRUTAL
X ALEX EALA is now up to a career-best 18th in the world, and at just 21 appears to be on a trajectory to stardom that has outgrown all but the biggest venues at Flushing Meadows. AP
Eala and her huge fan base, path to stardom N
EW YORK—More than 8,000 fans packed the Grandstand at the US Open last year to witness Alex Eala rally from down, 5-1, in the third set to upset 14th-ranked Clara Tauson. The crowd went crazy, waving Filipino flags to celebrate the comeback. Eala is now up to a career-best 18th in the world, and at just 21 appears to be on a trajectory to stardom that has outgrown all but the biggest venues at Flushing Meadows. “The crowd is going to be wild for her,” ESPN’s Patrick McEnroe said. “Better make sure they don’t put her on one of those side courts early in the tournament.” Eala is back in New York for the latest stop on the whirlwind tour that has her on a path to being one of the future faces of tennis. She is less than a month removed from winning in Washington for her first Women’s Tennis Association (WTA) title, and her popularity is exploding in the process. Back at a Grand Slam after reaching the round of 16 at Wimbledon, she called herself “a drop in the ocean” while downplaying her impact on the sport. “At the forefront of everything is gratitude: I’m very grateful for the support that my fans give me and that my supporters give me,” Eala said Friday. “Every single WTA player and every single ATP player has contributed to the world of tennis and its history just by being here and by putting in the work every single day.” Part of what grounded Eala, she believes, is partnering with Venus Williams in doubles a couple of times this summer. She has also studied tennis history along the way and realized how much work it takes to get to the top. “That really keeps me humble,” Eala said. “It keeps me motivated to work harder and stay among these incredible people.” One of those incredible people is third-ranked Jessica Pegula, who was up a set in the final in Washington. Eala came back to become the first player from the Philippines to win a singles title on the tour. “I’ve gotten to compete against the best of the best a lot more frequently,” Eala said. “I have experienced so much growth in the past year, and so many milestones in my career.” Eala practiced Saturday with former No. 1 player Naomi Osaka. Unsurprisingly, the pair drew an audience. “She brings such a amazing crowd, even for practice,” Osaka said. “I really like her. I think she’s got a really solid head on her shoulders. She seems so grateful for everything. Obviously, she’s a great player.” Mary Joe Fernandez, who once was ranked as high as fourth, called Eala “a big star to highlight” at the U.S. Open. “Her game’s really good,” Fernandez said. “She backs it up. She’s improved tremendously, I think, in the last 12 months when we saw her break through. She’s getting better and better.” AP
ERACO, Spain—Five-time Tour de France champion Tadej Pogacar was sent hurdling head-overhandlebars in a frightening crash that forced him to pull out of the Spanish Vuelta on Saturday. The Slovenian suffered a concussion and broke two bones, one of which will require surgery, after he appeared to lose control when a stone came rolling across the road. “Tadej has been diagnosed with a concussion, displaced left clavicle fracture, a stable C7 cervical fracture, and multiple abrasions,” UAE Team Emirates medical director Adrian Rotunno said. “Fortunately, no other major injuries and no neurological fallout. He will require clavicle surgery which will be delayed due to concussion precautions. Tadej remains under the care of our medical team and we’ll provide further updates following the surgery,” Rotunno added. Pogacar held a big lead in the Vuelta and was heavily favored to win the title to complete a hat trick of cycling’s three Grand Tours. But he got caught in a crash about 33 kilometers from the finish of the eighth stage—he tried to get back on
PLDT, Creamline highlight Invitational on opening day
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EFENDING champion PLDT kicks off its title-retention drive against dangerous EST Cola of Thailand, multi-titled Creamline tests the mettle of a starstudded Nxled side and Farm Fresh takes on Ho Chi Minh of Vietnam in an explosive triple-header at the start of the Premier Volleyball League Invitational at the Smart Araneta Coliseum on Monday. With six playdates squeezed into just eight days, the tournament is shaping up as a virtual sprint to the championship. For Minowa, who knows firsthand the demands of playing in Japan’s highly competitive league, the challenge is not
simply surviving one match but finding enough energy to be ready for the next. “It’s been done before, wherewhere the games were played in quick succession,” Creamline middle blocker Sachi Minowa (formerly Jaja Santiago) said. “So I guess what really matters is how we can recover—in the first game, second game and the ones that follow.” Minowa scored six points in Creamline’s three-set romp over Galeries Tower at the close of the PVL On Tour in Negros Occidental last week, offering a glimpse of what her imposing presence in the middle could mean for a Cool Smashers side determined to regain the Invitational crown. Creamline, which settled for third place last year, gets its first major test at 4 p.m. against a souped-up Nxled side still searching for the right combination to make its star power translate into wins. The Chameleons are loaded with talent, with Brooke Van Sickle, Myla Pablo, MJ Phillips, Jonah Escamilla, Chiara Permentilla, Jovelyn Fernandez, EJ Cariño and Leyann de Guzman joined by new recruits Gel Cayuna and Jackie Acuña. The PLDT-EST Cola showdown at 1:30 p.m. sets the tone for the day’s action. Despite a stellar roster led by Savi Davison, Kim Dy and Alleiah Malaluan, with Majoy Baron and Mika Reyes anchoring the middle, the High Speed Hitters know they face an unfamiliar and potentially tricky opponent in the Thai side. EST Cola’s game is built around speed, tactical creativity and fighting spirit—qualities that can become particularly dangerous against a team still finding its rhythm in a compressed tournament. Farm Fresh, meanwhile, gets the first crack at Ho Chi Minh at 6:30 p.m., with the Vietnamese side, like EST Cola, entering the Invitational largely untested and eager to spring a surprise.
SPAIN’S Enric Mas inherits the overall lead but refuses to wear the red jersey and is fined €1,500 for violating jersey ceremony protocols. VELON CC FB
TADEJ POGACAR is diagnosed with a concussion, displaced left clavicle fracture, a stable C7 cervical fracture and multiple abrasions. ISAAC DEL TORO FB
It didn’t rain on the run THOUSANDS of runners gather at the Ayala Triangle Gardens in Makati on Sunday for the PRU POP (Promise of Protection) Run, turning the streets into a vibrant celebration of movement, community and protection. The fun run is highlighted by the special 30K race that marks PRU Life UK’s 30 years in the Philippines. Gracing the event are (from left, front row) Terry Robles, Crystal Quartz District Manager; Sanjay Chakrabarty, Pru Life UK president and CEO; Teri Rombaoa, Lazurite District Manager; Miguel Reyes, Ace Summit Life Insurance Agency District Manager; and Kathryn Cajucom, Pru Life UK Vice President and Head of Brand and Integrated Marketing Communications. PRU POP PHOTO
his bike but could not carry on and walked to an ambulance. Race organizers confirmed he pulled out of the race. Pogacar was attempting to become the ninth male rider to win all three Grand Tour races. Pogacar won the Tour de France for a third straight time and a record-tying fifth overall in July, and he claimed the Giro d’Italia win in 2024. He had not raced in the Vuelta since making his Grand Tour debut at the event in 2019. TV footage showed Pogacar with cuts on his head as well as his left arm and shoulder. Pogacar swerved to his right, into other cyclists, as he appeared to try to avoid something in the road. The Tour de France champion lost control and flew over his handlebars, hitting his head and shoulder. UAE Team Emirates sports manager Matxin Joxean Fernandez said after the stage that Pogacar had needed stitches in his eyebrow and elsewhere. “It’s no one’s responsibility.... It’s simply one of those things that happens in cycling, unfortunately,” Fernandez said. “He initially wanted to keep going, but we saw he was in a lot of pain in his shoulder and decided he couldn’t continue. There isn’t much else to say. “After seven days Tadej was happy and it’s a very big shame for him, cycling is about good and bad and [we hope] Tadej recovers as soon as
Learning to fly FOLLOWING the Ateneo Blue Eagles’ 83-70 win over the Mapua Cardinals in the quarterfinals of the Pinoyliga Cup, head coach Louie Alas told me, “Malayo pa. Marami pa kaming kailangan ayusin. [“We still have a long way to go. There’s still a lot we need to fix.” It wasn’t false modesty. It is what it is notwithstanding Ateneo being 3-0 in the tournament thus far. Now this one against Mapua was a game of two halves. The first half saw problems with execution and a penchant to commit a rash of turnovers in a hurry. Jared Bahay was having trouble quarterbacking in the first half (but he settled down in the second). Furthermore, I thought there was a lack of awareness in the full court press as Mapua pitched about eight Hail Mary passes in the first half. I don’t think I have ever seen that in the college game or even a National Football League match. Bear in mind though that this team is cramming so all these struggles are normal. What kept the Blue Eagles in the fight was their tough defense. As much as they struggled offensively, Mapua could not really pull away. As long as you get your stops, you are never out of the fight.
Ian Espinosa ran that offense well, but it was his position defense that was of note. Even when the taller Cardinals tried to back him into the post, the entry pass didn’t come. In fact, only once did Mapua score on a post up on Espinosa. Having watched Ian since his Ateneo high days, he always played with a big heart. He could score some back then but is finding it tougher in the college ranks. I would rather that he stick that pull up jumper as opposed to driving in the lane which—in my opinion—often ends up not very well. It was Kieffer Alas—and to an extent, Espinosa—and Grayson Rogers providing the scoring sock in the first half, but when Andrew Bongo, Shawn Tuano, Jared Bahay, EJ Kapihe, and Travis Roberts got going in the second half, Ateneo was tougher to beat. In fact, in three matches thus far in the Pinoyliga, this was the most balanced in terms of scoring. Alas led with 22 points. Roberts added 10 with Espinosa, Rogers, and Kapihe adding nine each. Bongo chipped in eight with Bahay and Rogers each netting eight points. If the Blue Eagles want to be able to rack up some wins this coming University Athletic Association of the Philippines season, they will need Roberts to get untracked. But what a feathery jump shot he has. Now, mark my words… the better
possible because hopefully it’s not something too bad, we’re not going to think about that right now but we’ll see what the doctor says.” Pogacar—who had led since winning the opening stage—had an advantage of three minutes and 50 seconds over Enric Mas of Movistar before Saturday’s stage, which did not feature any major difficulty and offered sprinters a chance to shine along a flat 171-kilometer (106-mile) route from Puçol to Xeraco. Bryan Coquard, from the Cofidis team, claimed the stage win ahead of Mads Pedersen and Jordi Meeus. Mas took the race leader’s jersey from Pogacar, becoming the first Spanish rider to lead the race since Jesus Herrada in 2018. Felix Gall stood second overall, 1:11 off the pace, with Primoz Roglic in third place. The 31-year-old Mas did not put on the leader’s red jersey when he was presented with it in the post-race ceremony, instead just holding it up. He was also not wearing it in television interviews after the stage. “To get the red jersey thanks to a crash, it’s not a good feeling,” he told Eurosport in translated comments. “We’ll try to defend it tomorrow but tonight we need to assimilate what happened and give Tadej all our support and hopefully he will recover soon. We decided with the team that I was not going to wear the red jersey [today] and then if I deserve it tomorrow, I will wear it.” AP
grasp of the game Rogers has, he will be a huge difference maker. More than the offense being spread around, the Blue Eagles had a 19-11 advantage in assists and outrebounded the Cardinals 41-27. When the Blue Eagles began to jam the inbound pass, there went the Hail Marys. Again, the second half adjustments worked. When people tell me that this isn’t the finely tuned offense of Tab Baldwin, yes it isn’t. But remember, the Blue Eagles missed the Final Four two seasons running. So much for the offense. I like the fact, that they mix it up inside and will pound the ball in when need be. The return of Bongo and Tuano after a two-week absence (with the 3x3 national team) was massive. The two are now veterans and having played for the national team gives them confidence, more exposure, and pride. Tuano’s back-to-back triples were the backbreakers. Let me go back to Louie Alas’ statement to me. Yep, malayo pa. But still, 3-0 and into the semis has to feel very good. Every win from OLFU to CSB and now, Mapua, there are facets of the game they are learning as a team. In the first game, it was about settling down and putting up points. In the second, it was coming from behind. In this win, it was once more coming from behind but also nursing a lead. But throughout, it was playing team defense. Now, imagine when they start to fire on all cylinders.
Editor: Jennifer A. Ng
Companies BusinessMirror
STOCK-MARKET OUTLOOK LAST WEEK
Share prices plunged to its steepest level for the year mainly due to the decision of Bangko Sentral ng Pilipinas (BSP) to raise interest rates and after a number of institutions downgraded the Philippines’s growth outlook. The benchmark Philippine Stock Exchange index fell 282.13 points to close at 5,956.33 points. The main index was down almost all week, except on Monday when it gained a mere 12.92 points. Broker 2TradeAsia said this was due to El Niño-linked food disruption, volatile oil prices and pending wage hikes that might happen in the fourth quarter. The BSP raised its policy rate by another 25 basis points last week. Average value of trade reached P7.69 billion. Foreign investors, who cornered 59 percent of the trades, were net sellers at P7.13 billion. Most sub-indices were down except for the Mining and Oil index that gained 722.68 points to close at 20,069.88 points. The broader All Shares index fell 116.24 to 3,318.99, the Financials index shed 77.54 to 1,864.47, the Industrial index declined 282.31 to 7,905.63, the Holding Firms index retreated 144.36 to 4,330.15, the Property index was down 37.74 to 1,866.99 and the Services index plunged 232.04 to 3,131.08. For the week, losers outnumbered gainers 140 to 78 and 28 shares were unchanged. Top gainers were Anglo Philippine Holdings Corp., PAL Holdings Inc., NiHAO Mineral Resources International Inc., Harbor Star Shipping Services Inc., LMG Corp., LBC Express Holdings Inc. and Manila Mining Corp. A and B shares. Top losers, meanwhile, were F and J Prince Holdings Corp. A, First Gen Corp., Century Properties Group Inc., Jackstones Inc., Jackstones Inc., Makati Finance Corp. and Medco Holdings Inc.
THIS WEEK
Share prices may exhibit a technical bounce this week, which will be mostly driven by bargain hunting. It will be a four-day trading week as August 31 is a public holiday for National Heroes Day. Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said the rise in interest rates is expected to temper aggregate demand since it makes borrowing more expensive. This, he said, will pose an additional challenge to the local economy. “The peso has slid to a new record low against the US Dollar, and in doing so, has formally breached the P62 level. Sentiment-wise, the weakness shown by the local currency may discourage foreign investors from getting into the Philippines’ equity market.” Economy-wise, while a weak peso may benefit exporters and overseas Filipino workers, it is also expected to raise the country’s import costs which in turn is an upside risk to inflation, he said. 2TradeAsia said with several stocks at historic lows, there will be “gradual positioning.” “Balance portfolio selection with defensives, and possibly select metals and commodities shares. Meanwhile, continue to monitor inflation and forex trends,” it said. “For now, a meaningful market bounce hinges on domestic institutional funds stepping in to absorb foreign supply, yet conviction remains thin without fundamental catalyst support.” Heading into the final month of the third quarter, the broker said it is leaning defensive and taking BSP’s own signaling at face value that “we are at or near peak rates.”
Continued on B2
Monday, August 31, 2026
B1
Data, digital infra get bulk of capex budget—Globe
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By Lorenz S. Marasigan
@lorenzmarasigan
LOBE Telecom Inc. said over the weekend that it channeled roughly 91 percent of its P26.3billion first-half capital expenditure (capex) budget into data and digital infrastructure. The P26.3 billion in capex for the first six months of 2026 marked a 39-percent increase from the same period a year earlier and represented 31 percent of service revenues for the period. Despite the higher spend, Globe said it remains on track to keep fullyear capital expenditures below $1 billion, part of what it described as a “disciplined capital allocation” strategy that balances expansion with financial flexibility. “Globe’s continued investments in network infrastructure are about more than expanding capacity, they are about delivering a better every-
day experience for our customers and ensuring that more Filipinos can benefit from reliable, highquality connectivity,” said Carl Cruz, president and CEO of Globe. Cruz said the heavy tilt toward data underpinned an accelerated 5G rollout. He noted that outdoor population coverage now exceeds 98 percent across Metro Manila and key cities in the Visayas and Mindanao, while its 5G footprint in non-key cities reached at least 80 percent of the population—extending next-generation connectivity beyond the country’s major urban centers.
“By strengthening our networks and extending our reach, we are helping bridge the digital divide and creating more opportunities for people, families, and communities across the country to participate fully in a more connected future,” Cruz said. Based on Ookla Speedtest Intelligence data covering the second half of 2024 through the first half of 2026, Globe said it was named Most Consistent Mobile Provider four consecutive times, earned the Widest Mobile 5G Coverage recognition twice in a row, and took Most Consistent Home Internet twice in a row. Cruz said the buildout supports national digital-inclusion goals, arguing that directing the bulk of its spending to data and network initiatives strengthens the country’s digital backbone and widens participation in the connected economy. Globe recently disclosed to the Philippine Stock Exchange that its net income fell 11 percent to P11 billion in the first half from P12.4 billion a year earlier.
The company traced the decline mainly to a smaller net gain from the dilution of its stake in Mynt Inc., the parent firm behind mobile wallet GCash, alongside higher non-operating charges. Core net income—which excludes foreign exchange movements and mark-to-market adjustments—stood at P10.2 billion, down 2 percent year-on-year, a far narrower drop that management has pointed to as the truer measure of the business. Despite this, the company said it expects the momentum of its core telecommunications business to carry into the second half and lift its full-year bottom line. Globe CFO Carlo Puno said the Ayala-led telco is confident that the second half would offset the firsthalf decline. “We do believe we should be able to leverage all of the momentum that we delivered in the first half to be able to turn that into upside to the second half of 2026, which should help buoy the bottom-line performance from a full-year perspective.”
First Gen, AGI seal supply deal
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LLIANCE Global Group Inc. (AGI) signed a power supply deal with the First Gen Group (First Gen) for over 25 megawatts (MW) of renewable energy (RE) to power needs of the latter’s key properties and facilities in Metro Manila, Iloilo and Davao. AGI facilities covered by the agreement include Megaworld township developments in Taguig City; the Venice Grand Canal Mall in McKinley Hill also in Taguig; the ArcoVia City in Pasig City; Richmonde Hotel Tower-Iloilo in Iloilo City; the Davao Finance Center in Davao City; and the Emperador Distillers plants in Santa Rosa and Biñan in Laguna. The agreement was signed last August 13 by representatives of AGI and First Gen, the Lopez-led firm said over the weekend. “Electricity usage comprises a significant portion of conglomerate-wide carbon emissions. Our ability to harness more renewable energy to support
END OF THE ROAD
OpenAI said it will end its partnership with Cursor after the AI-coding agent’s acquisition by SpaceX, according to a post on X. In a separate post on its website, OpenAI said it has informed Cursor that it will wind down their contract with a proposed shutoff date of November 12. “We are making this choice because we cannot be confident that SpaceX will use our technology within our terms of service, based on our experience with Elon Musk’s companies violating contracts,” the post read. Photo shows the ChatGPT virtual assistant logo. PHOTOGRAPHER: ANDREY RUDAKOV/BLOOMBERG
‘Chicken to drive McDonald’s sales’ By John Eiron R. Francisco
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CDONALD’S Philippines said its chicken business is a major contributor to overall sales, with the category posting “exponential sales growth” as annual volumes reach several million servings. During a press briefing on Friday at the company’s head office in Makati City, Celina Lagandaon, marketing and menu director of McDonald’s Philippines, said the company has continued to invest in improving its Chicken McDo offering, particularly its bone-in chicken product. The company began rolling out
a larger bone-in chicken offering in 2023, followed by further changes to its preparation procedures in 2025 aimed at improving the product’s taste and texture. Lagandaon said the changes focused on factors that influence consumer preference, including chicken size, juiciness, crispiness and taste. In 2026, the company introduced another iteration of the product. Although Lagandaon did not disclose specific sales figures, she said the changes had “made a positive dent” not only in sales but also in consumer perceptions, including scores in evaluations of the chicken’s taste. The company said affordability
has also been considered in developing the offering. As demand for its chicken offerings grows, McDonald’s Philippines said it is working closely with established poultry suppliers to ensure consistent product specifications across its restaurant network, its quality assurance director Alvin Marcelo said. He added that all chicken used for its chicken offerings, as well as the rice served with them, are sourced locally. “We don’t have commissaries. We highly depend on suppliers. We work closely with the top management, making sure that we’re assured of the volumes.”
He said the company coordinates with suppliers on volume requirements as it expands into regional markets, with suppliers likewise scaling their capacity to support the chain’s growth. Marcelo said the company is also accrediting additional facilities of existing suppliers across the country and broadening its supplier base to meet rising chicken requirements. Its network now includes about five major local poultry suppliers, up from three previously, although their names were not disclosed. McDonald’s Philippines currently has more than 860 stores nationwide and is targeting 900 locations by yearend.
our operations without compromising efficiency or service delivery will greatly reduce our carbon footprint and help us get closer to our goal of achieving carbon net zero,” said Arnulfo Batac, head of sustainability of Megaworld Corp. AGI’s shift to RE is part of the conglomerate’s sustainable development goals, which include scaling RE usage to achieve carbon neutrality by 2035. First Gen will source the RE supply from its Bacon-Manito geothermal facilities in Albay and Sorsogon. “It is always an honor and privilege to partner with like-minded organizations like AGI who are conscious of how their businesses impact people, communities and the environment. Transitioning to geothermal energy, the only RE source that can run baseload capacity, is not just a cost optimization measure, but also a means to manage risk and to do something good for the planet,” said First Gen Chief Customer Engagement Officer Carlo Vega. Lenie Lectura
B2
Companies BusinessMirror
Monday, August 31, 2026
DOE: Deal aims to speed up local offshore wind projects
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By Lenie Lectura
@llectura
HE Department of Energy (DOE) and the Philippine National Oil Co. (PNOC) have signed a memorandum of agreement (MOA) to streamline the acquisition of tenurial instruments for critical onshore infrastructure supporting offshore wind projects (OSW). The MOA, signed by DOE secretary Sharon S. Garin and PNOC President Franz Josef George E. Alvarez, establishes a coordinated framework for developers to secure essential land access for cable landing points, substations, and grid interconnection facilities. “This agreement gives offshore wind developers a clearer and more coordinated pathway for securing
the onshore areas needed to support their projects,” Garin said. “By defining institutional roles and procedures, we are reducing uncertainty and helping address an important requirement in moving viable offshore wind projects toward construction and eventual operation.” The MOA outlines a structured, time-bound process for OSW de-
velopers to secure land or water area access. OSW developers will identify sites and submit technical, legal, environmental, and geospatial documents. The DOE then validates and endorses qualified site proposals to the PNOC which, in turn, evaluates the proposals and helps secure tenurial instruments from the Department of Environment and Natural Resources (DENR). Tenurial instruments issued by the government allow individuals, communities, and the private sector to control and use forestlands and their resources. PNOC must then complete its evaluation of DOE-endorsed proposals in 30 days. Thereafter, PNOC should notify the developer once the DENR issues the tenurial instrument. After which, PNOC and the OSW developer must finalize in 15 days a project-specific use agreement after notification. The initiative is particularly timely as the DOE advances the
Fifth Green Energy Auction (GEA5), the country’s first Green Energy Auction round dedicated to OSW, with a capacity offering of 3.3 gigawatts (GW) of fixed-bottom offshore wind for delivery between 2028 and 2030. Beyond GEA-5, offshore wind will play an important role in the country’s long-term energy transition. The Philippine Energy Plan 2023–2050 sets a target of 19 GW of offshore wind capacity under Clean Energy Scenario 1 by 2050, while the country’s estimated 178 GW of technical offshore wind potential underscores the scale of the resource available for future development. The DOE and PNOC will continue to coordinate with DENR and other concerned agencies to ensure that the framework is implemented transparently, consistently, and in accordance with law. The partnership supports the national goal of increasing the share of renewable energy in the power generation mix to 35 percent by 2030 and 50 percent by 2040.
and cost pressures normalize, margin recovery stays visible, supporting continued earnings growth. Key downside risks include prolonged inflation delaying residential re-
acceleration, and churn outpacing service quality gains.” Converge shares closed last week at P9.10 apiece. VG Cabuag
STOCK-MARKET OUTLOOK Continued from B1 Support for the main index is seen at 6,150 to 6,200 points, while resistance at 6,000 points.
STOCK PICKS
RCBC Securities Inc. has downgraded its short- to medium-term forecast on DigiPlus Interactive Corp. to reflect sustained operational headwinds in the gaming segment. “Persistent macroeconomic pressures, with elevated inflation compressing consumer discretionary spending, continue to weigh on user activity.” It revised projections and cut target price by a third to P18. The broker, however, maintained its
buy rating as long-term catalysts remain at play, including offline revenue diversification through LaVie Resort and Casino, as well as the execution of their international ventures. DigiPlus shares were last traded at P9.99 apiece. Meanwhile, broker Regina Capital Development Corp. also slashed its target price to P18 per share on the stock of Converge Information and Communications Technology Solutions Inc. as near-term headwinds weigh on the company. Its competitive positioning, however, remains intact on a scalable fiber platform and a strengthening enterprise portfolio keeping the medium-term case intact. “As capex [capital expenditure] peaks
MUTUAL FUNDS
August 28, 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. -A210.46 -4.59% 1.41% -0.91% -2.49% -1.7% ATRAM ALPHA OPPORTUNIT Y FUND, INC. -A 2.2731 8.84% 16.64% 8.83% 4.8% 5.16% ATRAM PHILIPPINE EQUIT Y OPPORTUNIT Y FUND, INC. -A 2.8077 -4.89% 0.1% -1.46% -4.35% -1.52% CLIMBS SHARE CAPITAL EQUIT Y INVESTMENT FUND CORP. -A 0.766 0.91% 4.59% 0.74% N.A 4.33% FIRST METRO CONSUMER FUND, INC. -A 0.5047 -14.82% -6.99% -7.42% N.A -9.24% FIRST METRO SAVE AND LEARN EQUIT Y FUND, INC. -A 4.2683 -7.86% -1.75% -2.68% -2.49% -2.39% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6395 -4.45% -1.43% -2.73% N.A -0.48% MBG EQUIT Y INVESTMENT FUND, INC. -A 71.87 -14.65% -4.69% -5.96% N.A -19.66% PAMI EQUIT Y INDEX FUND, INC. -A 41.7701 -2.41% 0.33% -1.45% -2.26% 0.99% PHILAM STRATEGIC GROWTH FUND, INC. -A 441.31 -4.9% 1.02% -1.41% -2.4% -1.83% PHILEQUIT Y DIVIDEND YIELD FUND, INC. -A 1.5857 3.91% 11.35% 5.7% 1.93% 1.56% PHILEQUIT Y FUND, INC. -A35.5922 0.88% 3.04% 0.79% -0.56% 3.37% PHILEQUIT Y MSCI PHILIPPINE INDEX FUND, INC. -A 0.9308 2.92% 4.16% 1.03% N.A 4.86% PHILEQUIT Y PSE INDEX FUND, INC. -A 4.5214 -1.48% 1.39% -0.43% -1.36% 1.16% PHILIPPINE STOCK INDEX FUND CORP. -A 744.39 -1.84% 1.03% -0.71% -1.58% 1.28% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.701 -0.64% 2.27% 0.01% -2.78% -0.16% SUN LIFE PROSPERIT Y PHILIPPINE EQUIT Y FUND, INC. -A 3.1271 -8.77% -1.13% -2.4% -3.02% -2.57% SUN LIFE PROSPERIT Y PHILIPPINE STOCK INDEX FUND, INC. -A 0.8341 -2.04% 0.61% -1.09% -1.84% 1.23% UNITED FUND, INC. -A3.62676.83% 6.56% 2.29% 0.34% 10.32% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUIT Y INDEX UNITIZED MUTUAL FUND, INC. -A 1.0454 -1.8% 1.06% N.A N.A 1.21% COL STRATEGIC GROWTH EQUIT Y UNITIZED MUTUAL FUND, INC. -A 1.0528 -1.52% N.A N.A N.A 0.89% PHILEQUIT Y ALPHA ONE FUND, INC. -A 0.913 -5.31% -2.62% -3.42% N.A -3.31% PHILIPPINE STOCK INDEX FUND CORP. -A 898.22 -1.85% 0.82% N.A N.A 1.33% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUIT Y EXCHANGE TRADED FUND, INC. -A,C 101.5856 -1.57% 1.25% -0.39% -1.16% 1.57% PRIMARILY INVESTED IN FOREIGN CURRENC Y SECURITIES (SHARES) ATRAM ASIAPLUS EQUIT Y FUND, INC. -B $1.2582 31.71% 15.37% 1.27% 3.46% 22.81% SUN LIFE PROSPERIT Y WORLD VOYAGER FUND, INC. -A $2.462 17.74% 16.47% 6.05% 8.91% 10.69% PRIMARILY INVESTED IN FOREIGN CURRENC Y SECURITIES (UNITS) N.A PHILEQUIT Y GLOBAL FUND, INC. -A,2 1.0826 N.A N.A N.A N.A BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1715 0.67% 0.9% -0.27% -0.97% 1.46% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7222 7.16% 5.89% 0.63% -0.61% 5.25% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.4883 -1.65% 0.53% -0.85% -0.69% 1.07% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2289 -1.34% 6.65% 3.6% N.A -1.29% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 1.982 0.75% 0.89% 0.32% 0.25% -1.02% PAMI HORIZON FUND, INC. -A3.7263 -0.91% 2.89% 0.31% -0.4% -1.68% PHILAM FUND, INC. -A15.7408-3.32% 1.62% -0.86% -0.96% -1.68% SOLIDARITAS FUND, INC. -A2.0972 -1.09% 2.07% 0.46% -0.13% -0.15% SUN LIFE OF CANADA PROSPERIT Y BALANCED FUND, INC. -A 3.3774 -4.24% 0.88% -0.83% -1.34% -1.35% SUN LIFE PROSPERIT Y DYNAMIC FUND, INC. -A 0.8894 -4.78% 0.78% 0.03% -1.04% -2.34% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.79 N.A N.A N.A N.A N.A SUN LIFE PROSPERIT Y ACHIEVER FUND 2028, INC. -A 0.977 0.1% 2.05% -0.08% N.A -0.18% SUN LIFE PROSPERIT Y ACHIEVER FUND 2038, INC. -A 0.8253 -4.12% 0.42% -1.69% N.A -1.96% -4.7% -0.1% -2.14% N.A SUN LIFE PROSPERIT Y ACHIEVER FUND 2048, INC. -A 0.7943 -2.08% PRIMARILY INVESTED IN FOREIGN CURRENC Y SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03339 0.66% 1.16% -2.72% -0.81% -2.65% PAMI ASIA BALANCED FUND, INC. -B $1.1659 -1.41% 10.13% 1.26% 2.22% -3.64% SUN LIFE PROSPERIT Y DOLLAR ADVANTAGE FUND, INC. -A $5.6969 11.6% 12.1% 3.47% 5.87% 6.72% SUN LIFE PROSPERIT Y DOLLAR WELLSPRING FUND, INC. -A $1.2089 4.97% 6.96% 0.33% 2.32% 2.15% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.65 2.45% 3.28% 2.64% 2.53% 1.11% ATRAM CORPORATE BOND FUND, INC. -A 1.9856 2.22% 1.19% 0.62% 0.36% 1.38% COCOLIFE FIXED INCOME FUND, INC. -A 3.6103 1.6% 3.07% 2.2% 3.22% 0.29% EKKLESIA MUTUAL FUND, INC. -A 2.4454 0.68% 3.16% 1.58% 1.43% -0.29% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5139 -1.46% 1.41% 0.6% 1.12% -2.14% PHILAM BOND FUND, INC. -A4.5358 -0.77% 2.82% 0.27% 0.69% -1.61% PHILAM MANAGED INCOME FUND, INC. -A 1.5448 3.01% 4.62% 3.26% 2.95% 1.63% PHILEQUIT Y PESO BOND FUND, INC. -A 4.3333 1.39% 3.14% 1.72% 1.91% 0.47% SOLDIVO BOND FUND, INC. -A1.131 2.22% 2.87% 1.76% 1.65% 0.94% 3.4571 SUN LIFE OF CANADA PROSPERIT Y BOND FUND, INC. -A -2.19% 2.4% 1.45% 1.94% -2.36% SUN LIFE PROSPERIT Y GS FUND, INC. -A 1.8339 -2.05% 2% 0.94% 1.35% -2.68% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0101 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENC Y SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $533.15 1.98% 2.88% 1.8% 1.94% 0.77% ALFM EURO BOND FUND, INC. -A Є223.22 0.26% 1.85% 0.23% 0.53% -0.25% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0566 -2% 0.67% -2.62% -0.63% -1.71% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0259 -1.15% 2.15% -0.23% 0.31% -2.26% PAMI GLOBAL BOND FUND, INC. -B $1.0477 -1.61% 7.85% -0.06% -0.62% -1.16% PHILAM DOLLAR BOND FUND, INC. -A $2.4339 -0.14% 3.16% -0.73% 0.55% -1.86% PHILEQUIT Y DOLLAR INCOME FUND, INC. -A $0.0637205 -0.26% 1.71% 0.2% 1.13% -1.13% SUN LIFE PROSPERIT Y DOLLAR ABUNDANCE FUND, INC. -A $2.8702 -0.61% 2.03% -2.14% -0.74% -2.13% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1863 2.73% N.A N.A N.A 1.71% ALFM MONEY MARKET FUND, INC. -A 152.68 4.16% 4.11% 3.18% 2.86% 2.56% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2239 3.47% 3.79% 3.02% N.A 2.19% SUN LIFE PROSPERIT Y PESO STARTER FUND, INC. -A 1.5145 3.61% 3.59% 2.97% 2.76% 2.23% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 116.97 4.12% 4.32% N.A N.A 2.65% PRIMARILY INVESTED IN FOREIGN CURRENC Y SECURITIES (SHARES) SUN LIFE PROSPERIT Y DOLLAR STARTER FUND, INC. -A $1.1948 2.52% 3.32% 2.46% N.A 1.57% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.3983 7.68% 4.05% N.A N.A 4.96% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8685 N.A N.A N.A N.A N.A SUN LIFE PROSPERIT Y WORLD EQUIT Y INDEX FEEDER FUND, INC. -A 2.5591 30.43% 22.33% 13.92% N.A 17.93% SUN LIFE PROSPERIT Y WORLD INCOME FUND, INC. -A 1.2025 12.29% 6.35% N.A N.A 7.78% PRIMARILY INVESTED IN FOREIGN CURRENC Y SECURITIES (UNITS)
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PSE STOCK QUOTATIONS
August 28, 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 PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL FIRST ABACUS FERRONOUX HLDG MEDCO HLDG NTL REINSURANCE PHIL STOCK EXCH SUN LIFE
50.6 116 10.1 100 53.5 10.32 65.85 7 67.5 51.1 22.9 63.8 23.7 0.465 1.39 0.52 4.21 0.091 1.35 210 4,650
50.8 117 10.24 101.5 54 10.4 66.7 7.02 70 52.8 23 64.6 24.5 0.49 1.44 0.53 4.46 0.1 1.37 211.8 4,750
50.05 119.6 10.18 103 54.25 10.78 65.8 7 64 52.7 22.95 65.05 24.15 0.465 1.44 0.51 4 0.091 1.25 205 4,700
50.7 120 10.3 103.5 54.25 10.78 66.7 7.07 70 52.8 23 65.05 24.3 0.49 1.44 0.52 4.6 0.091 1.42 211.8 4,700
50 116 10.1 100 53.05 10.26 64.75 7 64 51.05 22.9 63.6 23.7 0.465 1.25 0.51 4 0.091 1.24 205 4,650
50.6 116 10.1 100 54 10.32 66.7 7 70 52.8 23 63.8 23.7 0.49 1.39 0.52 4.21 0.091 1.38 211.8 4,650
66,340 8,142,870 108,700 4,884,950 469,210 432,700 7,589,400 24,200 840,430 260 300 207,060 287,600 170,000 417,000 87,000 47,000 10,000 2,643,000 60 275
3,332,429 952,563,761 1,103,828 489,545,317 25,145,736 4,553,876 500,009,634 169,726 57,542,581 13,608 6,885 13,252,103 6,818,315 80,400 575,260 45,220 198,330 910 3,509,780 12,572 1,282,750
INDUSTRIAL ACEN CORP 2.86 2.88 2.94 2.94 2.85 2.86 8,681,000 24,827,920 -12,560,820 ALSONS CONS 1.13 1.14 1.2 1.25 1.13 1.14 19,284,000 22,660,410 910,040 ALTERNERGY HLDG 0.76 0.76 0.75 0.75 0.74 0.76 121,000 91,450 1,500 ABOITIZ POWER 45 45.25 45.35 45.65 44.75 45 2,066,900 93,241,180 -18,078,420 RASLAG 1.18 1.17 1.15 1.17 1.14 1.17 299,000 345,290 -81,400 0.109 0.11 0.109 0.109 2,460,000 268,890 BASIC ENERGY 0.11 0.11 CITICORE RE 4.83 4.97 4.98 4.99 4.81 4.97 61,000 302,560 54,890 25.25 25.3 25 25.35 22.95 25.25 138,556,240 FIRST GEN 5,720,200 -304,445 97.9 97.95 100.6 100.7 94.5 97.9 257,910 25,026,233 186,762 FIRST PHIL HLDG MERALCO 460.6 460 470 470 454 460 526,150 241,680,096 -55,117,080 MANILA WATER 34.8 34.85 35 35.4 34.8 34.8 2,737,000 95,822,185 -12,839,510 MAYNILAD 18.7 18.7 18.68 17.98 17.98 18.7 4,595,800 84,902,086 30,262,166 PETRON 2.27 2.3 2.36 2.36 2.25 2.27 2,171,000 4,907,590 2,193,950 PETROENERGY 3.9 4.07 4 4 3.91 3.91 29,000 115,190 19,550 15.02 15.02 15.02 15.28 5,000 75,404 21,112 PRYCE CORP 15.28 15.28 9.6 9.79 9.68 9.8 9.68 9.79 800 7,778 REPOWER ENERGY SEMIRARA MINING 17.18 17.2 18.48 18.48 17.04 17.2 5,406,400 93,568,096 -11,205,370 26.1 26.2 26.85 27.45 25.7 26.1 3,072,900 80,742,240 7,810,575 SYNERGY GRID SHELL PILIPINAS 8.25 8.27 8.01 8.3 7.78 8.25 384,800 3,098,087 -203,061 SPC POWER 9.4 9.4 9.32 9.3 9.3 9.4 24,000 223,811 10,230 SP NEW ENERGY 1.2 1.21 1.25 1.25 1.19 1.21 35,850,000 43,241,960 -12,451,600 TOP LINE 1.69 1.7 1.72 1.72 1.59 1.7 7,451,000 12,297,440 -2,230,840 19.18 20.45 20.5 20.6 20.5 20.6 300 6,160 VIVANT AXELUM 2.83 2.87 2.85 2.82 2.82 19,000 53,880 28,200 2.88 0.305 0.315 0.305 0.305 0.305 0.305 100,000 30,500 BALAI FRUITAS CNTRL AZUCARERA 9.52 9.56 9.57 9.57 9.57 9.57 100 957 957 32.4 32.6 32.25 32.75 31.8 32.4 1,415,900 45,613,680 2,786,750 CENTURY FOOD DEL MONTE 3.77 3.85 3.77 3.77 3.77 3.77 5,000 18,850 DNL INDUS 3.56 3.57 3.55 3.59 3.53 3.56 3,488,000 12,432,990 -425,690 EMPERADOR 15.86 15.38 15.52 15.86 15.32 15.38 494,700 7,618,950 -2,540,790 SMC FOODANDBEV 47.4 47.45 47.4 47.6 47.2 47.45 14,300 677,680 -33,165 0.64 0.66 0.64 0.65 1,230,000 800,960 660 FIGARO GROUP 0.66 0.66 0.64 0.65 0.64 0.64 201,000 130,640 FRUITAS HLDG 0.65 0.65 GINEBRA 217.6 218 218 220 217.8 218 131,490 -11,844,338 28,811,294 150 150.2 156.8 158 150 150 1,795,550 271,613,270 -113,445,436 JOLLIBEE 1.86 1.88 1.86 1.87 1.83 1.86 1,774,000 3,272,800 -2,653,000 KEEPERS HLDG LIBERTY FLOUR 22.3 22.3 21.5 21 21 22.3 2,900 62,365 -2,230 MAXS GROUP 2.22 2.31 2.25 2.32 2.22 2.32 53,000 120,150 -22,400 MG HLDG 0.069 0.073 0.069 0.069 0.069 0.069 20,000 1,380 MONDE NISSIN 6.8 6.82 6.94 6.94 6.77 6.8 5,430,900 36,943,461 -2,954,930 5.57 5.6 5.62 5.62 5.6 5.6 14,800 82,892 560 SHAKEYS PIZZA 2.4 2.52 2.48 2.52 2.48 2.52 8,000 20,050 -2,480 ROXAS AND CO 5.29 5.3 5.31 5.31 5.25 5.3 367,200 1,934,622 -898,291 RFM CORP 0.056 0.057 0.056 0.056 0.056 0.056 1,070,000 59,920 SWIFT FOODS UNIV ROBINA 60.95 60.95 60.5 60.05 59.85 60.95 1,032,860 62,148,330 -46,522,356 VITARICH 0.5 0.5 0.49 0.495 0.495 0.5 290,000 143,750 -59,400 VICTORIAS 1.99 1.9 1.9 1.9 1.9 1.9 34,000 64,600 ATN HLDG A 0.41 0.43 0.415 0.415 0.41 0.41 1,290,000 535,150 ATN HLDG B 0.41 0.415 0.415 0.415 0.415 0.415 810,000 336,150 54.1 57.95 54.05 57.95 54 57.95 320 17,364 CONCRETE A CONCRETE B 51.2 59.9 59.9 59.9 10 599 59.9 59.9 CONCREAT HLDG 1.24 1.26 1.29 1.29 1.22 1.24 4,292,000 5,335,000 374,000 1.85 1.88 1.89 1.89 1.84 1.85 173,000 321,570 -104,930 EEI CORP MEGAWIDE 4.88 4.74 4.77 4.78 4.65 4.77 1,307,000 6,263,990 210,800 PHINMA 14.9 14.9 14 14 14 14.9 6,900 98,760 9.99 SUPERCITY 8.8 8 8 8 8 400 3,200 CROWN ASIA 1.83 1.84 1.88 1.88 1.8 1.83 212,000 384,820 1,810 EUROMED 1.13 1.13 1.12 1.13 1.12 1.12 8,000 9,010 5 5.15 5.15 5.15 200 1,030 -1,030 5.15 5.15 MABUHAY VINYL 10.62 11.02 11.06 10.6 10.6 5,800 61,694 -2,120 CONCEPCION 11.06 0.164 0.167 0.164 0.164 0.167 150,000 24,780 GREENERGY 0.168 INTEGRATED MICR 7.22 7.23 7.1 7.4 7 7.22 3,660,800 26,558,385 -2,097,805 IONICS 2.41 2.42 2.13 2.48 2.13 2.42 11,182,000 26,417,000 1,149,480 PANASONIC 7.32 7.32 7.18 7.32 7.18 7.18 2,100 15,358 CIRTEK HLDG 1.3 1.33 1.29 1.38 1.25 1.3 3,318,000 4,390,250 -337,470
HOLDING & FRIMS
ABACORE CAPITAL 0.345 0.35 0.365 0.365 0.34 0.345 9,580,000 3,319,700 ASIABEST GROUP 53.5 54.2 54.5 54.5 53.5 53.5 746,540 40,001,373 3,367,758 AYALA CORP 495 499 490.2 500 490 495 426,230 211,150,970 2,074,258 ABOITIZ EQUITY 37.1 37.15 37.7 37.7 36.6 37.1 1,140,500 42,319,715 -1,078,970 ALLIANCE GLOBAL 9 9.01 8.82 9.15 8.82 9 3,148,500 28,306,603 -24,462,814 16.62 17 16.8 16.6 16.6 1,600 26,600 ANSCOR 16.8 ANGLO PHIL HLDG 1.5 1.52 1.12 1.55 1.12 1.5 41,770,000 57,623,830 516,630 7.86 7.95 7.86 7.99 7.8 7.95 117,300 923,410 184,268 COSCO CAPITAL 7.74 7.75 7.83 7.84 7.72 7.75 4,211,900 32,640,039 1,572,589 DMCI HLDG FILINVEST DEV 3.65 3.65 3.55 3.6 3.6 3.65 277,000 997,430 968,400 FJ PRINCE A 2.43 2.84 2.41 2.41 2.41 2.41 1,000 2,410 GT CAPITAL 476.4 476.6 489 489 471 476.4 241,650 115,090,494 26,725,928 HOUSE OF INV 4.8 5.15 5.2 5.2 4.7 4.8 475,200 2,309,928 1,887,500 JG SUMMIT 21 21.25 21.5 21.5 21 21.25 1,894,100 40,099,635 -7,518,035 0.355 0.37 0.365 0.365 0.37 390,000 144,300 LODESTAR 0.375 LOPEZ HLDG 5.3 5.4 5.49 5.49 5.2 5.3 683,300 3,620,853 47,037 15.16 15.14 15.1 15.2 2,581,100 39,112,084 -13,272,504 LT GROUP 15.2 15.2 0.85 0.86 0.86 0.86 3,000 2,580 PACIFICA HLDG 0.86 0.86 PRIME MEDIA 1.1 1.29 1.29 1.3 1.29 1.29 52,000 67,510 SOLID GROUP 1.12 1.19 1.17 1.19 1.1 1.19 767,000 858,010 2,220 SM INVESTMENTS 555 560.5 560 564.5 555 555 817,790 456,190,010 -224,506,615 SAN MIGUEL CORP 62.55 63.3 64.9 64.9 62.55 62.55 114,540 7,201,761 -2,111,556 54.5 56 54.5 54.5 54.5 54.5 890 48,505 TOP FRONTIER ZEUS HLDG 0.07 0.073 0.07 0.073 100,000 7,200 0.073 0.073 PROPERTY AYALA LAND 15.54 15.6 15.32 15.76 14.84 15.54 466,433,000 7,229,555,598 -1,555,918,794 AYALA LAND LOG 1.14 1.15 1.15 1.15 1.15 1.15 303,000 348,450 12.5 12.5 ALTUS PROP 12 11.86 11.86 12 41,800 503,570 260,330 ARANETA PROP 0.265 0.295 0.27 0.27 0.27 0.27 690,000 186,300 AREIT RT 36.6 36.75 37.05 37.05 36.6 36.6 2,055,800 75,373,200 -60,714,615 0.7 0.7 0.7 0.73 28,000 19,630 A BROWN 0.73 0.73 CITYLAND DEVT 0.6 0.62 0.6 0.6 0.6 0.6 1,000 600 CROWN EQUITIES 0.088 0.094 0.088 0.088 0.088 0.088 340,000 29,920 CEB LANDMASTERS 2.08 2.09 2.08 2.08 2.07 2.08 445,000 925,400 CENTURY PROP 0.63 0.64 0.67 0.67 0.64 0.64 6,898,000 4,428,310 -59,420 CITICORE RT 3.14 3.17 3.15 3.21 3.13 3.14 4,408,000 13,932,750 -8,093,910 DOUBLEDRAGON 12.16 12.16 11.94 12.02 11.9 12.16 533,000 6,467,966 -1,179,324 DDMP RT 1.04 1.04 1.03 1.04 1.03 1.04 3,217,000 3,324,530 -100 DM WENCESLAO 4.85 5 4.9 4.9 4.82 4.9 15,000 73,240 0.026 0.029 0.029 0.029 200,000 5,800 0.029 0.029 EVERWOODS FILINVEST RT 2.87 2.88 2.89 2.9 2.86 2.87 886,000 2,551,290 17,370 0.68 0.69 0.69 0.69 0.68 0.68 158,000 108,220 -12,090 FILINVEST LAND 0.62 0.63 0.62 0.63 358,000 225,450 -1,240 GLOBAL ESTATE 0.63 0.63 JACKSTONES 1.79 2.04 1.76 1.76 1.76 1.76 1,000 1,760 18,863,200 MEGAWORLD 2.18 2.19 2.25 2.26 2.19 2.19 8,544,000 -398,770 MRC ALLIED 0.7 0.7 0.68 0.69 0.67 0.69 67,532,000 46,580,080 MREIT RT 13.58 13.6 13.78 13.78 13.58 13.6 541,400 7,381,614 -599,244 0.16 0.161 0.161 0.161 0.16 0.16 1,030,000 164,810 144,000 PRMIERE HORIZON 5.01 5.36 5.01 5.01 5.01 5.01 100 501 PHIL RACING PREMIERE RT 1.02 1.02 1.02 1.03 88,000 90,250 -20,400 1.03 1.03 7.1 7.17 7.32 7.32 7.03 7.17 10,698,800 76,319,527 13,496,090 RL COMM RT 17 17.16 17.3 17.3 16.9 17 1,656,200 28,262,274 -456,220 ROBINSONS LAND PHIL REALTY 0.109 0.111 0.115 0.115 0.115 0.115 70,000 8,050 3.26 ROCKWELL 3.01 3.1 3.26 3 3.01 3,152,000 9,525,300 366,880 SHANG PROP 3.21 3.29 3.29 3.3 3.2 3.25 228,000 740,580 -175,890 STA LUCIA LAND 1.73 1.8 1.95 1.96 1.7 1.8 704,000 1,218,200 -13,110 17.84 17.88 17.82 17.9 17.76 17.84 16,417,100 292,717,936 462,928 SM PRIME HLDG 0.41 0.415 0.41 0.41 0.41 0.41 180,000 73,800 SUNTRUST RESORT WELLEX INDUS 0.3 0.325 0.3 0.3 60,000 19,250 0.325 0.325 SERVICES ABS CBN 3.6 3.65 3.68 3.68 3.6 3.6 217,000 786,960 GMA NETWORK 3.95 4 4.16 4.16 3.91 4 443,000 1,751,580 5.49 5.49 MLA BRDCASTING 5.11 5.49 5.49 5.49 800 4,392 DITO CME HLDG 0.69 0.7 0.72 0.72 0.67 0.7 18,221,000 12,564,660 35,460 GLOBE TELECOM 1,629 1,630 1,649 1,655 1,621 1,630 35,510 57,880,540 1,025,450 1,130 1,131 1,136 1,138 1,125 1,130 280,370 -117,347,425 PLDT 316,823,525 0.0061 0.0062 0.0063 0.0063 0.0061 0.0061 165,000,000 1,009,500 APOLLO GLOBAL CONVERGE 9.1 9.26 9.4 9.42 9.1 9.1 9,159,500 -35,945,434 84,658,779 2.28 2.36 2.29 2.28 2.28 5,000 11,410 EASYCALL 2.29 ISLAND INFO 0.123 0.123 0.119 0.12 0.12 0.12 1,520,000 182,430 NOW CORP 0.43 0.45 0.47 0.47 0.435 0.44 810,000 357,700 91,350 TRANSPACIFIC BR 0.119 0.121 0.122 0.122 0.119 0.119 970,000 116,570 0.85 CHELSEA 0.84 0.87 0.87 0.85 0.85 341,000 293,120 28.4 28.4 CEBU AIR 27.9 28.4 27.9 27.9 14,800 413,415 -259,650 884 885 875 906 875 885 4,853,860 4,308,466,365 -525,886,535 INTL CONTAINER 8 8.04 7.9 8.3 7.9 8.05 5,500 43,585 810 LBC EXPRESS 3.7 3.74 3.71 3.7 3.7 281,000 1,044,420 257,150 MACROASIA 3.76 2.71 2.57 2.48 2.71 5,889,000 15,290,540 -1,001,020 PAL HLDG 2.75 2.75 HARBOR STAR 1.82 1.83 1.82 1.86 1.76 1.83 6,418,000 11,683,960 296,570 ACESITE HOTEL 1.39 1.39 1.3 1.39 1.39 1.39 1,000 1,390 BOULEVARD HLDG 0.031 0.032 0.032 0.034 0.031 0.032 38,700,000 1,229,300 3,200 DISCOVERY WORLD 1.09 1.09 0.92 0.98 0.98 1.09 417,000 421,910 5.01 5.03 5.02 5.02 5.02 5.02 100 502 GRAND PLAZA WATERFRONT 0.4 0.4 0.4 0.4 0.4 10,000 4,000 0.43 CENTRO ESCOLAR 14.7 14.94 15 15 14.52 14.7 17,300 253,748 17,712 800 822.5 800 800 800 800 1,090 872,000 FAR EASTERN U IPEOPLE 6.9 7.32 7.32 7.32 200 1,464 7.32 7.32 STI HLDG 1.3 1.31 1.28 1.3 1.28 1.3 418,000 541,990 436,750 BELLE CORP 1.17 1.17 1.14 1.15 1.13 1.17 857,000 973,640 -57,000 BLOOMBERRY 36,378,810 2.29 2.3 2.4 2.42 2.27 2.29 15,744,000 -1,792,050 PACIFIC ONLINE 1.6 1.76 1.7 1.7 1.68 1.68 152,000 257,400 1,700 9.72 9.61 9.55 9.99 7,787,000 76,914,831 38,065,313 DIGIPLUS 9.99 9.99 14.28 14.26 14.62 14.22 14.38 2,475,100 35,696,170 -3,043,398 PHILWEB 14.38 8.5 9.2 9.2 8.5 8.5 2,100 19,250 BERJAYA 8.8 METRO RETAIL 1.05 1.07 1.07 1.08 23,000 24,810 -2,140 1.08 1.08 40.45 39.5 38.7 41.05 3,183,400 129,450,185 -11,263,260 41.05 41.05 PUREGOLD PHIL SEVEN CORP 33 33.35 33 33 32.9 33 221,700 7,295,240 -6,586,600 SSI GROUP 2.03 2.07 2.05 2.1 2.02 2.03 142,000 289,660 120,860 UPSON INTL CORP 0.81 0.83 0.9 0.91 0.8 0.81 1,537,000 1,271,810 236,160 WILCON DEPOT 5.89 5.94 5.9 6 5.87 5.89 488,200 2,885,191 -433,233 0.107 0.111 0.112 0.112 0.111 0.111 20,000 2,230 APC GROUP MEDILINES 0.221 0.232 0.232 0.232 0.232 30,000 6,960 0.233 PAXYS 3.98 4 4.2 3.85 3.98 547,000 2,199,350 85,730 4.04 1.62 1.62 1.62 1.62 1.62 4,000 6,480 PHILCOMSAT 1.65 SBS PHIL CORP 3.01 3.18 3.01 3.18 3.01 3.18 33,000 101,160 -260 MINING & OIL 1.88 ATOK 1.82 1.95 1.88 1.88 1.88 9,000 16,920 5,640 APEX MINING 16.2 16.22 15.74 16.28 15.74 16.22 7,194,700 115,932,218 12,133,482 ATLAS MINING 20.4 20.45 18.9 20.95 18.9 20.45 14,755,600 298,251,244 106,616,734 BENGUET A 7.26 7.47 7.3 7.56 7.26 7.47 174,600 1,293,748 7.3 7.6 7.64 7.64 7.6 7.6 72,700 552,528 BENGUET B DIZON MINES 4.21 4.58 4.4 4.45 4.21 4.21 28,000 123,860 EC VULCAN 0.295 0.3 0.295 0.315 0.295 0.295 190,000 56,850 FERRONICKEL 2.07 2.12 2.13 2.06 2.07 844,000 1,759,190 -951,290 2.08 GEOGRACE 0.106 0.105 0.109 0.109 0.1 0.105 6,130,000 632,960 -51,650 LEPANTO A 0.24 0.241 0.239 0.244 0.237 0.241 39,310,000 9,466,830 0.24 0.24 LEPANTO B 0.239 0.24 0.235 0.239 1,240,000 292,330 2,390 MANILA MINING A 0.0093 0.0094 0.0087 0.0095 0.0087 0.0093 703,000,000 6,514,400 MANILA MINING B 0.0092 0.0093 0.0085 0.0094 0.0085 0.0093 73,000,000 671,400 36,400 0.8 0.79 0.79 0.8 2,077,000 1,663,000 909,600 MARCVENTURES 0.81 0.81 0.54 0.56 0.57 0.55 0.56 270,000 152,420 NIHAO 0.56 NICKEL ASIA 4.13 4.17 4.12 4.18 4.09 4.17 1,355,000 5,609,570 -70,950 35.8 36 35.65 35.5 36 510,600 18,374,300 8,799,350 OCEANAGOLD 36.45 ORNTL PENINSULA 0.56 0.56 0.55 0.55 0.54 0.55 320,000 175,460 -50,400 PX MINING 11.2 11.36 11.34 11.66 11.16 11.3 1,781,300 20,298,666 -2,712,284 UNITED PARAGON 0.0078 0.0083 0.0077 0.0084 0.0077 0.008 183,000,000 1,493,200 -320,000 ENEX ENERGY 3.28 3.55 3.68 3.68 3.58 3.58 7,000 25,360 0.013 0.014 0.014 0.014 0.013 0.013 900,000 11,800 ORNTL PETROL A PHILODRILL 0.0082 0.0082 0.0083 0.0082 0.0083 41,000,000 340,000 0.0084 PXP ENERGY 2.97 3.03 3.06 3.11 2.95 3.03 689,000 2,062,750 -30,700 PREFFERED ACEN PREF A 981 998 995 1,000 995 999.5 600 598,950 ACEN PREF B 1,030 1,042 1,042 1,043 1,042 1,042 145 151,130 104,200 AC PREF AR 2,474 2,494 2,474 2,494 2,474 2,494 15 37,310 -37,310 AC PREF B4R 1,940 1,960 1,951 1,952 1,940 1,946 670 1,302,450 ALCO PREF F 470 474 474.2 474.2 474 474 100 47,412 98 100 98 98 98 98 40 3,920 BRN PREF A BRN PREF B 100.2 103.7 100.1 100.2 100.1 100.2 30 3,005 BRN PREF C 102 102.9 103 103 101.7 101.7 140 14,251 CEB PREF 28.25 29.4 28.3 28.35 28.25 28.25 16,700 472,585 -472,585 CLI PREF A1 933 975 974.5 974.5 974.5 974.5 20 19,490 CLI PREF A2 1,000 1,005 1,000 1,005 1,000 1,005 390 390,250 CPG PREF B 98.5 99.1 99 99 98.5 98.5 230 22,750 DD PREF 93.1 94 93.2 93.3 93.05 93.1 61,240 5,706,680 EEI PREF B 96 96.5 96 96 95.5 96 3,050 292,770 1,936 1,972 1,936 1,936 1,936 1,936 10 19,360 GLO PREF ANV GLO PREF BNV 1,954 1,999 1,965 2,000 1,952 1,952 2,535 5,068,475 JFC PREF B 990.5 995 990 993 990 993 70 69,420 MWIDE PREF 7A 99.05 100.6 101.4 101.4 101.4 101.4 10 1,014 PCOR PREF 4A 974.5 995 990 990 990 990 20 19,800 PCOR PREF 4C 981 982 987 987 982 982 9,330 9,166,890 PCOR PREF 4D 975.5 994.5 994.5 994.5 994.5 994.5 10 9,945 PCOR PREF 4E 997 1,059 1,000 1,000 1,000 1,000 1,000 1,000,000 77.65 80.2 79.8 80 77.65 80 20,580 1,645,200 SMC PREF 2L SMC PREF 2N 77.2 78.9 78 78 77.1 77.1 252,440 19,626,736 SMC PREF 2O 78 78.95 79 79.1 77.65 78.95 13,240 1,044,537 SMC PREF 2P 73.5 74 74 74 73.5 73.5 170 12,575 SMC PREF 2Q 73 76 76 76 76 76 160 12,160 SMC PREF 2R 75 78.45 78.5 78.5 78.5 78.5 100 7,850 SMC PREF 2S 73.6 75 75 75 75 75 100 7,500 SMC PREF 2T 74 76.1 76.1 76.1 76.1 76.1 100 7,610 SMC PREF 2U 74.85 75 76.95 76.95 75 75 2,070 155,460 78.8 79 79.1 79.1 79 79 30 2,371 SMC PREF 2V SMC PREF 2W 79.25 79.4 79.5 79.5 79.5 79.5 20 1,590 SMC PREF 2X 79.5 79.8 79.8 79.9 79.8 79.9 2,280 182,031 TOP PREF A1 99.65 100 100 100 100 100 1,300 130,000 TOP PREF A2 101 101.9 101 101.9 101 101.9 310 31,339 -
PHIL. DEPOSITARY RECEIPTS
ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8148 -0.1% 1.48% -3.82% N.A 0.59% ABS HLDG PDR GMA HLDG PDR 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, AGI WARRANT 2026. 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, 2025. 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. CTS GLOBAL HAUS TALK 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE LFM PROP DEBT VEHICLE, INC. MAKATI FINANCE XURPAS “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no
WARRANTS
3.4 3.51 3.95 4.14 4.38 4.38 4.1 4.1 4,000 16,900
-
1.06
SM A L L, M ED I U M & EM E R G IN G
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.”
1,443,865 -350,750,084 -161,292,055 1,098,514 -965,724 -147,599,736 -7,000 38,088,123 -2,684 -6,539,600 53,475 4,300 2,000,810 561,750
0.335 1.37 0.02 1.83 0.194
1.12
1.06
1.06
1.06
1.06
1,000
1,060
-
0.355 1.4 0.025 2.04 0.21
0.34 1.37 0.02 1.67 0.198
0.35 1.4 0.02 2.09 0.21
0.33 1.37 0.02 1.67 0.198
0.35 1.4 0.02 2.04 0.198
1,650,000 33,000 2,300,000 322,000 180,000
567,900 45,540 46,000 570,050 35,760
5,150 -
EXHANGE TRADE FUNDS FIRST METRO ETF
101
101.2
102 102.5 101.2 101.2 7,600 771,967 -89,454
www.businessmirror.com.ph
Banking&Finance BusinessMirror
AI in finance: The next competitive advantage
A
I adoption across the finance function is broad. More than three-quarters of organizations are leveraging AI in financial planning, reporting and commercial analysis. According to the “KPMG Global AI in Finance 2026” report, 71 percent of senior leaders surveyed found that AI is meeting or exceeding ROI expectations in their finance function. But adoption breadth and exceptional performance are not the same thing. The share of organizations reporting Artificial Intelligence is exceeding expectations sits at 23 percent—a narrower group than the broader satisfaction figure suggests. This mirrors what KPMG’s “Q1 2026 Global AI Pulse” observed at the enterprise level: AI adoption is moving faster than organizations’ ability to translate it into enterprise-wide performance at scale. What stands out is where the gains are concentrating. The strongest improvements are in decisionmaking quality, forecast accuracy and responsiveness. These are judgment-heavy areas, not transactional processes. Organizations deploying agentic AI report at least 32 percent stronger performance across key finance metrics, rising to nearly 40 points on forecast accuracy and ROI. This shows that AI in finance is operating as a decisionengine, not a cost lever.
AI as a decision-engine, not a cost lever
MOST assumptions about AI in finance start with efficiency: faster close, fewer errors, lower cost. The data tells a different story. Active AI use in the finance function has moved from 30 percent to 75 percent in two years. But adoption is moving faster than organizations’ ability to realize enterprise-wide value at scale. Traditional ROI measurement— money in, money saved—does not capture where AI is actually producing value in finance today. Where agentic AI is generating measurable value, it clusters around capacity for growth, responsiveness and improved customer experience. The organizations pulling ahead are not the ones adopting AI most broadly—most organizations already are. They are the ones reaching the orchestrating phase of deployment, directing AI into the work where judgment matters most: planning, forecasting, risk assessment. The finding parallels KPMG’s Q1 2026 Global AI Pulse: at the enterprise level, competitive advantage has shifted from adopting AI to orchestrating it.
Finance points AI where it matters
AI is producing the largest gains in judgment-heavy work: planning, forecasting, risk assessment. Performance gains are clustering in decision-heavy work: decision-making quality (70 percent), decision-making speed (71 percent) and forecasting accuracy (64 percent). Transactional processes are improving, too, but at smaller margins. Judgment-heavy work carries the most accumulated weakness in the finance function. It runs on inconsistent data, under-invested tooling, and the manual judgment built into the numbers. AI has more to gain here, and more leverage to deliver gains when it does. Banking and technology lead on close efficiency and forecast accuracy, where structured data and regulatory discipline have already built the foundation AI needs. Healthcare and Consumer trail Banking and Technology by doubledigit margins on decision quality, close efficiency, and forecast accuracy. The forecast accuracy gap alone is 27 points. The reason is not effort or ambition. It is data: fragmented sources, slower integrations, and legacy systems that limit what AI can act on. The implication for finance leaders is straightforward. AI’s strongest returns in finance
come from improving judgment, not from cutting transactional cost. The next constraint is not technological. It is governance: the controls required to trust what AI produces. Building that trust requires strong governance, effective controls and human oversight to ensure that AI-generated outputs are appropriately reviewed and challenged. These foundations can help organizations scale AI more effectively while improving the consistency and quality of outcomes.
In the Philippine context
AI adoption among financial institutions in the Philippines remains at varying stages, with many institutions still in the exploration stage compared with more advanced markets. However, the gap may narrow quickly as local institutions gain a better understanding of AI capabilities and move from experimentation toward practical use cases that lead to actionable business insights. From financial metrics and operational outcomes analysis, modeling and provisioning, and cash flow forecasting, financial institutions are also moving towards more complex applications in risk management, customer due diligence, fraud management, investment research, trading workflows and wealth management. At the regulatory level, the Bangko Sentral ng Pilipinas (BSP) has expanded its use of AI to support more data-driven monetary policy by analyzing market sentiment and enabling faster and more informed decisions. At the same time, experts emphasize that AI should complement—not replace—human judgment, highlighting that its greatest value lies in improving the quality of decisions. The BSP also recently introduced voluntary AI governance principles that encourage financial institutions to strengthen transparency, accountability, security, and human oversight. These developments reinforce that realizing value from AI requires more than adopting new technology. It requires trusted data, strong governance, and effective collaboration between finance, business, and technology leaders to ensure AI delivers meaningful business outcomes. According to R.G. Manabat & Co.Risk Consulting Partner and Financial Services Sector Head Aline A. Novilla, “the next phase of AI in finance is not about automating more processes—it is about enabling better business decisions.” “Organizations that combine AI with trusted data, strong governance, and effective human oversight will be better positioned to strengthen planning, forecasting, and long-term business performance,” Novilla said. As AI continues to reshape the finance function, competitive advantage will increasingly depend not on how widely organizations adopt AI, but on how effectively they use it to improve decision-making and create long-term business value. This article draws on insights from the KPMG Thought Leadership publication “KPMG Global AI in Finance 2026.” © 2026 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Ltd., a private English company limited by guarantee. All rights reserved. This article is for general information purposes only and should not be considered as professional advice to a specific issue or entity. The views and opinions expressed herein are those of the author and do not necessarily represent KPMG International, R.G. Manabat & Co. or the BusinessMirror. For more information, you may reach out through ph-kpmgmla@kpmg.com, social media or visit www.home.kpmg/ph.
Editor: Dennis D. Estopace • Monday, August 31, 2026
B3
Marcos govt borrowings grow in July as budget deficit swells
G
By Reine Juvierre Alberto
@reine_alberto
ROSS borrowings by the national government grew by three-fourths in July due to a swollen budget deficit that required additional funding from local and foreign financiers. T he gover nment borrowed P291.375 billion in July, an increase of 75.41 percent from P166.107 billion in the same month last year, latest data from the Bureau of the Treasury showed. During the month, both domestic and external borrowings surged to plug the P106.263-billion budget deficit, which expanded by more than fivefold as the money spent by the government outpaced the revenues it collected. Domestic borrowings jumped by 77.86 percent to P271.321 billion in July from P152.540 billion a year earlier. Some P138.121 billion was borrowed through fixed-rate Treasury bonds (T-bonds), while P133.2
billion was through net Treasury bills (T-bills). On the other hand, external borrowings rose by 47.81 percent yearon-year to P20.054 billion from P13.567 billion. Sources of foreign borrowings include program loans worth P1.413 billion and project loans amounting to P18.641 billion. From January to July this year, gross borrowings totaled P2.112 trillion, up by 20.21 percent from P1.757 trillion in the same period in the previous year. This already makes up 77.27 percent of the government’s borrowing target of P2.733 trillion for the year. Of the amount, P1.918 trillion
will come from local lenders, while P815.505 billion will be sourced from foreign financiers. Broken down, seven-month domestic borrowings grew by 15.37 percent year-on-year to P1.547 trillion from P1.341 trillion. This comprised P133.2 billion in net T-bills and P138.121 billion in T-bonds. Of fshore bor row ings likewise climbed by 35.80 percent to P564.856 billion as of end-July from P415.918 billion a year ago. The government has borrowed P92.878 billion in project loans and P157.607 billion in program loans from multilateral development banks, including the Asian Development Bank and World Bank, among others. About P314.371 billion was also raised by the Treasury through the issuance of triple-tenor US dollar bonds in January and another foray in June. End-July budget deficit widened to P893.077 billion after expenditures of P3.763 trillion outpaced revenue collections of P2.870 trillion. The government projects the budget deficit to reach P1.658 trillion, or 5.4 percent of gross domestic product, this year, and P1.694 trillion, or 5.1 percent of GDP, in 2027.
Last week, the Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP), raised its key interest rate by 25 basis points, bringing the Target Reverse Repurchase Rate to 5 percent and the interest rates on the overnight deposit and lending facilities to 4.5 percent and 5.5 percent, respectively. BSP Governor Eli M. Remolona Jr. acknowledged that the move will make borrowing costs more expensive for the government and further squeeze the fiscal space. For this year, the government has allotted a total of P2.045 trillion for debt servicing, which includes interest payments and debt amortization. Interest payments alone would account for 15.47 percent of next year’s proposed P7.2-trillion national budget. The government programmed its gross borrowings for next year at P3.304 trillion, of which P2.389 trillion will be sourced locally, while P925.12 billion will come from foreign lenders. Outstanding debt of the national government is projected to swell to P19.765 trillion at the end of 2026 and P21.479 trillion at the end of 2027.
Inflation rate, pace vulnerable to El Niño, war shocks By Andrea San Juan
W
HILE analysts expect the general increase in the prices of goods and services to have slightly eased in August, they warn inflation remains elevated and its rate and pace vulnerable to shocks from El Niño and the Middle East conflict. In separate commentaries, analysts’ estimates pointed to lower headline inflation for August compared to the 6.2 percent in July while one economist said it likely remained unchanged as the recent monsoon rains may have disrupted the supply of agricultural products, putting upward pressure on food prices. Domini S. Velasquez, Group Chief Economist at China Banking Corp. (Chinabank), said “headline inflation likely held at 6.2 percent in August, unchanged from July.” “Price pressures were likely driven by higher prices of key food items, including rice, corn, fish, vegetables, fruits, eggs, and cooking oil, with more than two weeks of steady rainfall disrupting agricultural supply and pushing up prices of some food items,” Velasquez said. She said higher fuel and LPG prices amid persistent Middle East tensions also added to price pressures. However, Velasquez said these were “partly offset” by lower electricity rates in Meralco-serviced areas and softer meat prices. Meanwhile, Velasquez said core inflation likely eased for a second straight month to 4 percent from 4.2 percent in July, suggesting that “underlying price pressures are gradually moderating.” Bank of the Philippine Islands (BPI) Lead Economist Emilio S. Neri Jr. said the bank’s forecast for August inflation is 6.1 percent. “Selected food items like vegetables and fish, together with pump prices likely kept [consumer price index] CPI near 6 percent,” added Neri. He said this should explain why the Bangko Sentral ng Pilipinas (BSP) had to hike the key interest rate on August
briefs
27 even if growth remains a “serious concern.” Union Bank of the Philippines (UBP), in its latest “MktsFocUs” report, said it sees inflation in August at 6.1 percent. “August inflation above 6 percent year-on-year (YoY) would likely reflect weather-related supply disruptions, flooding-induced logistics bottlenecks, elevated oil prices, a weaker peso, and ongoing cost pass-through,” the bank said in its report published over the weekend. In its commentary over the weekend, ANZ Research said it expects headline inflation to have moderated to 6 percent in August from 6.2 percent in July. “Transportation inflation likely eased compared to July, but it is expected to have remained elevated on an annual basis. Food inflation continued to edge higher on the back of rising rice prices,” added ANZ Research. Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said August inflation is seen to “moderate to 6.1 percent.” Ravelas said this suggests that earlier monetary tightening and improving supply conditions are “gradually gaining traction.” “The encouraging news is that inflation appears to be moving in the right direction, providing some relief to consumers and businesses,” he said. Inflation battle HOWEVER, the foreign exchange analyst said at 6.1 percent, inflation remains well above the central bank’s target range, indicating that price pressures are still elevated and the fight against inflation is “far from over.” “More importantly, while inflation may ease in the near term, the combined impact of the recent wage hike, the potential effects of El Niño on food supply, and ongoing geopolitical tensions in the Middle East and the Russia-Ukraine conflict could pose upside risks to inflation in the coming months,” Ravelas said. These factors, he emphasized, could keep inflation elevated and may require
➔ East West Bank sees P9B from stock offer THE Gotianun-led East West Banking Corp. is set to raise some P9 billion from its stock rights offering at the Philippine Stock Exchange. The lender said its board has approved the said funding exercise, and will be backed by its major shareholders, Filinvest Development Corp. and FDC Ventures Inc. EastWest is the banking arm of the Filinvest Group and one of the country’s leading consumer-focused banks. As of June, it had total assets of P623.9 billion and one of the largest consumer
the BSP to maintain a “hawkish stance” or even consider further monetary tightening if needed to anchor inflation expectations. As such, Ravelas said the key challenge is to ensure that the current downtrend becomes “sustainable” so that purchasing power recovers without reigniting inflationary pressures. Velasquez shared the same view saying upside risks remain significant, particularly from elevated oil prices, a prolonged El Niño episode that could disrupt agricultural output, and the potential pass-through of higher minimum wages to consumer prices. Inflation is likely to remain elevated for the rest of the year and could accelerate further in the fourth quarter, she added. However, given that much of the remaining inflationary pressure is “supply-driven,” the group chief economist of Chinabank said further monetary tightening would have “limited effect” in bringing inflation back to the BSP’s 2-percent to 4-percent target band this year. “For 2027, we are less pessimistic than the BSP, expecting inflation to moderate toward 4 percent, as lukewarm domestic demand should help contain underlying price pressures,” Velasquez added. Neri also noted that inflation will likely remain a challenge for the rest of the year, adding that BSP may have to keep a “tightening bias.” ANZ Research said going forward, inflation is expected to moderate but remain well above the central bank’s target range. “Further upside pressure to inflation could arise if El Niño drives up food prices,” added ANZ Research. But ANZ Research expects the BSP to hold the policy rate steady in its meeting in October and raise the key interest rate anew in December in response to El Niño effects. For its part, Citi said an October hike is possible only if August and September inflation readings “do surprise signifi-
loan portfolios in the Philippine banking industry, amounting to P337.6 billion. Key terms of the transaction, including the final offer size, entitlement ratio, offer price, record date, and timetable, will be determined and announced upon receipt of the necessary approvals, the bank said. VG Cabuag ➔ Manulife, Chinabank renew partnership THE Manufacturers Life Insurance Co. (Manulife) and China Banking Corp. (Chinabank) renewed their bancassurance partnership for another 15 years to expand access to insurance, health, savings and wealth-management solutions. A joint statement issued read that the insurer and
cantly to the upside.” “Apart from being due to El Niño related surprises, diesel prices could also rebound. And along with PHP tradeweighted depreciation, this could reactivate core inflation,” Citi said in a commentary issued over the weekend. Conversely, it said the risk scenario of there being no hike in December could materialize if the El Niño impact on food prices up to November turns out “significantly milder” compared to BSP’s expectation. While the MB opted for a preemptive policy move during its August 27 ratesetting meeting, it revised downwards its inflation forecast for 2026 to 6.1 percent from its 6.4 percent forecast during its June 18 policy meeting. However, it raised its inflation forecast to 5.4 percent for 2027, compared to its 4.5 percent forecast last June 18. According to BSP Assistant Governor for Monetary Policy Sub-Sector Rogelio V. Mercado Jr., “the 6.1 percent inflation is of course driven by lower-thanexpected inflation in June and July, as well as declining oil prices.” “This would be partly offset by the impact of El Niño on rice prices in the fourth quarter,” Mercado said. (See: https://businessmirror.com. ph/2026/08/27/rate-hike-phl-shieldvs-el-nino-inflation/) The central bank, in a statement released over the weekend, said it is looking at a 5.5 to 6.5 percent inflation forecast range for August as it gauges how recent weather disturbances alongside the elevated fuel costs weighed on the prices of food. “Upward price pressures for the month are likely to be driven by higher rice, vegetable, fruit, and fish prices, partly due to unfavorable weather conditions, and elevated domestic fuel costs,” the BSP said. However, the central bank explained that upward pressures are expected to be mitigated by lower prices of meat, as well as lower electricity rates and the peso appreciation.
lender extended their collaboration through the Manulife China Bank Life Assurance Corp. (MCBL). A joint venture between Manulife and Chinabank, the company distributes life insurance and other financial products through 650 Chinabank and China Bank Savings Inc. (CBS) branches nationwide. Both organizations said MCBL has gained fresh momentum since the renewal of the partnership, recording doubledigit year-on-year growth. MCBL began operations in October 2007 and serves customers of Chinabank and CBS. In 2014, Chinabank increased its equity stake in MCBL to 40 percent. Reine Juvierre S. Alberto
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100 YEARS, 65-B BARRELS
What to know about Trump’s Venezuela oil deal By Collin Binkley & Juan Pablo Arráez
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The Associated Press
SCREENSHOT: DONALD J. TRUMP/TRUTH SOCIAL
ESIDES a social media post from President Donald Trump, the White House has said little about what he is calling “THE BIGGEST OIL DEAL IN WORLD HISTORY” in Venezuela.
Trump said the agreement announced Friday night would give the United States a stake in Venezuela’s vast oil reserves, a step toward his goal of extracting energy from the country after American forces captured then-President Nicolás Maduro in a middle-of-thenight raid in January and brought him to New York to face federal drug trafficking charges. Venezuela’s acting president, Delcy Rodríguez, described the deal as a step toward economic recovery that will modernize the country’s oil industry. She said Saturday that the oil reserves would “cease to be an inert, cold statistic and will instead become concrete solutions. Housing is one of them.” She spoke while touring reconstruction efforts following the deadly twin earthquakes that hit in late June, noting that thousands of families were left homeless. “What we are doing is for the development of the country, but
above all, to serve the Venezuelan people, to provide them with more jobs, better wages, and access to public services such as water, electricity, hospitals, schools and adequate food,” she said. But the answers to many questions, including how soon the reserves could be drilled and who will pay to make it happen, were not immediately clear. No text of any agreement has been released. A look at what is known and unknown:
What are the terms?
THE US government and an unnamed private operator in Venezuela formed a new company that was given the rights to untapped oil fields for 100 years. A statement from Rodríguez said the deal involves the development of 17 fields with a proven potential of 65 billion barrels. It said the agreement could draw $100 billion in investment into Venezuela’s
FLAMES rise from flare stacks at the Amuay refinery in Los Taques, Venezuela, January 14, 2026. AP/MATIAS DELACROIX
oil industry and yield over $209 billion in taxes for Caracas. Trump said the agreement was negotiated by Secretary of State Marco Rubio, Defense Secretary Pete Hegseth and Rodríguez. The deal gives the United States 55% effective output of the new private company, including an ownership stake and rights to buy oil at cost. American purchases of the oil will go toward the US strategic oil reserves along with the military, according to a US official who was not authorized to discuss the matter publicly and spoke on the condition of anonymity. The company would be the second largest corporate holder of proven reserves after Saudi Aramco, according to the official.
Will gas prices go down?
PROBABLY not any time soon. Trump says the deal will help lower gas prices for Americans. That is an important objective for
the Republican president as the Iran war slows the shipping of Persian Gulf oil and keeps prices elevated months before November elections in the United States. But experts have repeatedly warned that Venezuela’s dilapidated oil infrastructure will take years and billions of dollars to repair. A substantial boost in production is not expected to happen quickly. The deal could be “helpful in the long run, but it’s not going to do anything to change the price of gasoline at the retail station for Labor Day weekend,” said Amy Myers Jaffe, director of the Energy, Climate Justice and Sustainability Lab at New York University. Neither side made clear who would pay for infrastructure investments and at what cost. The average price of gas in the US stood at about $4.08 a gallon on Saturday, according to AAA. The average price was $3.20 at the same time last year.
Kevin Book, managing director at ClearView Energy Partners, said the oil industry is awaiting clarity on the deal’s details. Venezuela has room to increase its oil production, he said — in the past it produced more than 2.5 million barrels a day above current levels — but investments of this scale don’t happen quickly. “It’s going to take time — many years — to deploy that much capital and produce the kind of incremental results that history suggests possible,” Book said.
How will Venezuelans react?
SOME in Venezuela considered it a betrayal of what their government has stated repeatedly for decades: Venezuelan resources are for Venezuela, and leaders would not allow the US government access to those resources. At a market in eastern Caracas on Saturday, Douglas Borjas said he was upset about the announcement. “I think they’re doing it to cling to power,” he said of Venezuela’s leaders. “It’s like, ‘I’m giving you a vast amount of petroleum as long as you leave me alone here in power.’” He added: “The Venezuelan people deserve better. Venezuela has resources that can be exploited, but for the benefit of the people, not for the benefit of the corrupt elite.” Harvard University professor Ricardo Hausmann, a former Venezuelan planning minister, called it a “shameful deal.” “Venezuelans will not respect this illegitimate deal and no major US oil company will take it seriously because they know it will not last,” Hausmann said on social media, adding that Rodríguez “has no legitimacy or constitutional power to commit Venezuela to any such deal.”
What’s the reaction on Capitol Hill?
A MAN holds a sign with a message that reads in Spanish, “ Yankee out, murderers,” during a protest against President Donald Trump’s deal giving the United States a stake in Venezuela’s oil reserves in Caracas, Saturday, August 29, 2026. AP/PEDRO MATTEY
IT is unclear whether Congress will play a role in the arrangement, but lawmakers from both parties were quick to weigh in. Trump allies called it a win. Sen. Bernie Moreno, R-Ohio, said it was a historic deal that helps both countries. “If it were up to DC Democrats, Maduro would still be in power, Venezuelan oil would be going to China at half price, and
the people of Venezuela would be getting robbed by a corrupt regime,” Moreno wrote on social media. It was condemned by Democrats who said Maduro’s capture was a means to this end. Sen. Tim Kaine, D-Va., said Trump was always after Venezuela’s oil, branding it “corruption at epic scale.” “Will prices come down for Americans? Who knows but likely not as much as Trump has forced them up thru his idiotic Iran War,” Kaine said on social media. Sen. Chris Van Hollen, D-Md., said Trump “put our service members at risk to get Venezuelan oil for his billionaire buddies.”
What questions remain?
MANY important details remain unclear, including who will cover necessary investments, the identity of the private operator and how America’s stake in the company breaks down. The US will get 55% of the company’s effective output, but it was not clear what portion of that comes from an ownership stake and how much comes from the right to buy oil at cost. It also is unclear how the industry will react. Persuading big American oil companies to return to the region could prove a challenge given the political uncertainty and damaged infrastructure. Chevron, the only US oil company actively producing in Venezuela, declined to comment. Separately from Trump’s announcement, Chevron already had been in talks to expand investment in the country. Exxon Mobil also declined to comment. David Oxley, chief climate and commodities economist at Capital Economics, said that on its face, the deal could double US oil reserves and reduce dependence on crude oil from Canada and Mexico. But Oxley, writing in a commentary, cautioned that there are logistical hurdles and said the value of Venezuela’s reserves may have been exaggerated under former President Hugo Chavez. Even with legal and security guarantees, it is not clear that US oil companies “would be eager to invest,’’ he wrote, noting that “there simply might be more enticing commercial opportunities on offer elsewhere.’’
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BusinessMirror
Editor: Gerard S. Ramos • Monday, August 31, 2026
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Stars of the Monsoon Season UNIQLO Philippines local celebrity partners Solenn Heussaff, Anne Curtis, Matteo Guidicelli, Anthony Constantino, Emilio Daez, Alexa Ilacad and Kianna Dy; Ultherapy Prime ambassador Kathryn Bernardo
W UK-based medical aesthetics doctor Christine Hall
Move over, K-beauty: P-beauty has arrived and Careline cosmetics is about to launch its smartest product yet FOR years, the global beauty conversation has been shaped by Korean skincare routines, Japanese minimalism, and French pharmacy staples. Now, a fourth force is stepping into that conversation: P-beauty. Careline Cosmetics is leading the charge. The homegrown Filipino brand is set to unveil its most innovative launch to date. Stackable makeup formats aren’t new to the world, but a full makeup routine built into a single stackable system is a first of its kind for the Philippine market, and it’s what caught the attention of Dr. Christine Hall, a UK-based medical aesthetics doctor named one of Tatler’s Medics of the Moment and one of the most trusted voices bridging Western and Asian beauty audiences. Her verdict: “This might be the smartest makeup launch yet.” It’s not the first time Hall has spotlighted the Philippines. She has previously asked her international following whether Philippine makeup is the next big trend, and her early preview of the upcoming Careline launch has already reached over 50,000 views and at high engagement rates within days, well above typical benchmarks for beauty content on the platform. “We are so happy to see P-beauty become a global movement,” said Carmen Torralba, brand manager of Careline Cosmetics. “Careline has always believed in giving Filipinas better than basic, and this launch takes that promise further than ever.” Full details of the launch will follow soon. More information about Careline Cosmetics is available at the brand’s social media pages on Facebook, TikTok and Instagram via @carelineph.
HILE times may come and go, the focus of Japanese fast-fashion brand Uniqlo remains the same: to create clothing that is timeless, practical and thoughtfully designed to make everyday life better. Every new season is a reflection of how it continues to listen, innovate and evolve alongside its customers. One rain-drenched afternoon, the brand introduced its Lifewear Fall-Winter Collection 2026 at a cramped space at Palacio de Memoria in Parañaque. “This collection is centered on comfort, versatility and ease. Each piece is created with one clear intention: to make clothing that people can depend on season after season. We presented to you our lineup of Lifewear collections essentials with our jeans and casual outerwear, the perfect pieces for every changing weather needs,” said Uniqlo chief operating officer Geraldine Sia. “But as we introduce all these new things to everyone, we are also reminded the impact we hope to create extends beyond clothing. At Uniqlo, we believe that good business should also create good for the society. We want the value we bring to our customers be reflected not only in our community but also make a positive contribution to the world,” shared Sia. Here, the local celebrity partners share the Lifewear essentials they currently swear by: Alexa Ilacad: “I’m wearing my AIRism Bra Sleeveless Top, layering it with the JW Anderson Oxford Boxy Long Sleeve Shirt and Windproof Stand Blouson, paired with a Pleated Skort for a versatile, polished finish. I love the hood. I adore it.” Anthony Constantino: “I can tell you I’m not wearing the AIRism bra top. But what I’m wearing is the JW Anderson Oxford shirt layered with a CPJ sweatshirt and sweatpants. I have the whole set here, but I honestly really love this sweatpants-sweatshirt combo because it’s something that you can really upscale for a press preview like this with the JWA Oxford shirt. Or even if you’re just working out or even just lounging at home, you can wear that too. So, it’s one of my favorite pieces from Uniqlo.” Matteo Guidicelli: “The pants are my favorite. JW Anderson is my favorite. My shirt is that. And my super favorite, finally, it’s here because it’s 100 percent cashmere. Crew neck, super cool, super beautiful.” Side notes from marketing director Jan Jizelle Ang: “Uniqlo is known to really make very expensive, unaffordable clothing, but make it affordable for everyone. So, this cashmere is actually made even better because we have the gem of fiber called cashmere. But because it’s too thin, usually, they actually made it thicker. So, it actually has a yard-size thickness, but also using knit tension technology so that you can use it a lot of times. So, you get the warmth and also the durability. It’s soft.” Solenn Heusaff: “So, I’m wearing these Smart Culottes inspired by me, smart. Aside from that, I’m wearing this coat and jacket. I love that it’s really this relaxed feel. It’s easy to wear. You can dress it down, dress it up. Very versatile. And, of course, this is my favorite, my staple when I travel: my turtleneck, which is also cashmere blend. It’s extra warm and chic.” Kianna Dy: “For today, I actually wanted to
do a lot of layering, as you can see. I have two here and three on top. So, I have the sleeveless front top, the Henley neck sleeveless top, the ribbed V-neck cardigan, cotton easy shorts, and the easy white jeans. These shorts are super comfortable, breathable. So, you can wear it in the weather in the Philippines also.” Emilio Daez: “Wow, it’s an honor for me to be among these guys, these people. And you know, I’ve been a Uniqlo supporter since my high-school days, so it’s really a dream come true for me. And today, I’m also layering like Kianna. I’m wearing the Uniqlo AIRism T-shirt and the Henley long sleeves, fleece jacket and baggy jeans.” Anne Curtis: “My outfit is pretty interesting. I actually like saying this. What I’m wearing is the fluffy yarn. Fleece, full-zip jacket. And then underneath, I have the Uniqlo: C Milano rib, full-zip cardigan. And then I have my barrel jeans. “So, it’s pretty chill, relaxed. And for someone like me who gets cold in the aircon, even in Manila, it’s perfect for me. As you can see, I’m not even sweating. So, it’s comfy, it’s perfect, it’s fluffy. The super yarn. I love it. Honestly, I’m so honored to be part of the family. You know, Uniqlo has always been one of my go-to for everyday essentials, whether it be, you know, HEATTECH when we travel, or whether, you know, just basic Lifewear with everything else in between. So, to be part of the family officially, it really means so much to me. “It’s kind of surreal. So, thank you so much, Uniqlo, for making me part of this family.”
KATHRYN BERNARDO FOR ULTHERAPY PRIME
ANCHORED on the theme “Confidence Without Limits,” Merz Aesthetics, the world’s largest dedicated medical aesthetics business, honored the Philippines’ leading aesthetic doctors and clinics at the Tala Awards 2026, held recently at the Grand Ballroom of Solaire Resort Parañaque. The annual celebration recognized the visionaries whose expertise, artistry, and commitment continue to shape the future of medical aesthetics and P-beauty in the Philippines. The highlight of the event, however, was the official introduction of actress Kathryn Bernardo as the new Philippine ambassador for Ultherapy PRIME. The young superstar talked about “embracing healthy aging through consistency, making thoughtful choices, and seeking guidance from qualified medical professionals—values that naturally align with Ultherapy PRIME’s vision of helping people feel confident at every stage of life.” The moment reinforced the brand’s position as the gold standard in non-invasive skin lifting and tightening. To her 20.1 million followers, the young box-office star wrote: “Started in my 20s. Stepping into my 30s stronger and more confident. “Because taking care of yourself early is one of the best investments you can make for your future self. “So excited to share my Ultherapy Prime journey with you. “My Skin. My Lift. My PRIME.”
Gen45 is a treatment that promises hair strength and resiliency
LIKE many people, I experienced excessive hair fall during the pandemic. I tried supplements, shampoos, and home remedies but the hair fall continued. I started going to Svenson in 2023 (or was it 2022?) and at that time, my problem was not just hair fall but seborrheic dermatitis, which I always blamed on bad shampoos, the heat, or air-conditioning. I started going to Svenson for the Scalp Corrective Treatment, a professional, in-clinic procedure designed to deeply cleanse the scalp, remove stubborn
buildup, and relieve chronic dryness, flaking, or itchiness. I’d call this a lunchtime procedure because it can be done in 30 minutes. It took about a year for me to see benefits from the treatment. You need to have it done thrice a week. I only did it once a week but I was consistent. I never missed a week. The process begins with a consultation, which is free. A trichologist looks at your scalp and hair strands using a microscope. She will also do a hair pull test. Scalp Corrective Treatments begins with a shampoo. After that, your scalp is cleansed with a liquid solution after which the corrective treatment is applied. The corrective treatment can be oil-based or alcohol-based depending on the state of your scalp and hair. In my case, I get the oil-based treatment. The cleanser and corrective treatment are applied using an airbrush tool. For the next step, an iontophoresis device is used. The goal is for the ingredients used in the treatment
to be more easily absorbed by the scalp. The next and last step is red light therapy. This takes just five minutes. Recently, I have been doing Gen45, a new Svenson treatment that detoxifies the scalp, stimulates healthy circulation, blocks DHT (the root cause of thinning), and reinforces weak hair follicles. Gen45 also defends hair strands against UV rays, styling damage, and everyday environmental buildup. The Gen45 tonic contains amino acids (to help hair grow back thicker, stronger, and more resilient), ginseng and burdock (which help detoxify the scalp and promote healthy growth), biotin and niacinamide (for long-term scalp health), and Saw Palmetto (to keep DHT, the root cause of thinning, in check). It also contains antioxidants to help stimulate healthy circulation. The Gen45 procedure is much like the Scalp Corrective Treatment except that after the shampoo, the tonic is applied immediately followed by the use of the iontophoresis device and, finally, red light therapy.
SVENSON’S Gen45 is a new hair-strengthening treatment PHOTOS FROM SVENSON
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Monday, August 31, 2026
Community banking goes digital as MCRBi launches Nextbank mobile banking services
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extbank continues to enable rural financial institutions to expand their digital capabilities through its expanded partnership with Mount Carmel Rural Bank, Inc. (MCRBi) with the implementation of Nextbank’s Mobile Banking Solution. This collaboration demonstrates that community-centered institutions can keep pace with the digital transformation of the financial sector with the support of a trusted technology partner. For Nextbank, empowering institutions like MCRBi is central to its mission of making digital banking simple, secure, and accessible for communities nationwide. “Rural banks are vital to financial inclusion and our role is to equip them with modern, secure, and easy-to-adopt digital tools,” said James To, President & Chief Commercial Officer at Nextbank. “Our expanded partnership with MCRBi shows how institutions can evolve stepby-step into fully digital banks.” MCRBi’s shift to digital banking solutions began with the adoption of the Nextbank Core Banking System, which modernized its internal operations and laid the foundation for long-term digital growth. Building on this foundation, the bank is now bringing mobile banking directly to its customers. Nextbank’s modular, plug-andplay technology makes this expansion seamless, allowing institutions to enhance their digital capabilities without overhauling existing systems. This flexibility enables rural banks to roll out new offerings gradually and sustainably.
In the photo are, from left, Velma Jane Lao, Head of Iloilo City LEDIPO and SIGE Asenso Program; Iloilo City Mayor Raisa S. Trenas; Jack Ng, Head of Commercial, Shopee Philippines; and Jose Gabrielle Petrache, Shopee Public Affairs.
Shopee, Iloilo City deepen partnership with sustained MSME coaching
S Representatives from Nextbank and MCRBi formalize their partnership during a contract signing in Lipa City, Batangas. For institutions like MCRBi, operational upgrades are driven not only by technology but by the evolving needs of the communities they serve. By adopting Nextbank’s Mobile Banking Solution, MCRBi is ensuring that families, small businesses, and everyday account holders in CALABARZON region can enjoy modern banking features without losing the personalized service they value from their local bank. This balance of digital access and community-focused service strengthens the role of rural financial institutions in regional development, helping them stay aligned with the expectations of today’s customers. It also reinforces MCRBi’s commitment to continuously improve its services to better support the changing needs of their community. Founded in 1966 through the consolidation of two Batangas-based rural banks, MCRBi proudly celebrates almost 60 years of unwavering service, helping generations of Filipinos achieve their financial aspirations and build a better future. Today, the bank continues that commitment by embracing technology that enables faster, more accessible, and more reliable services. MCRBi’s adoption of Nextbank’s Mobile Banking Solution marks another step toward delivering a smoother banking experience through digital transactions, and anytime, anywhere access for its
customers. These features are powered by a fully integrated digital system that reflects Nextbank’s commitment to practical, future-ready solutions. By linking mobile services with its existing Core Banking System, MCRBi is building a unified platform that supports real-time transactions, secure access, and a consistent customer experience across multiple touchpoints. This integration shows how rural banks can strengthen their capabilities with confidence with technology partners that understand both their operational needs and customer-first mission. Nextbank continues to support rural banks, thrift banks, commercial banks, and cooperatives with secure and fully integrated banking systems including Core Banking System, Mobile Banking, eKYC, Digital Payments, and Fraud Management System. “Our mission is to help financial institutions build future-ready digital ecosystems that grow with their customers’ needs,” said James To. “Partnerships like ours with MCRBi show how rural banks can embrace digital transformation confidently and sustainably.” Through scalable and interconnected solutions, Nextbank remains committed to advancing rural banking across the country by empowering institutions to innovate at a pace that matches both their capabilities and their communities’ needs.
HTG Sports launches showcase game, sets new benchmark for grassroots PHL basketball
San Beda Basketball Team will join the HTG Sports Showcase game to support and encourage teens and basketball aficionados to make time to develop hobbies like basketball
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RASSROOTS basketball in the Philippines is getting a high-caliber upgrade. On September 12, 2026, HTG Sports will officially launch its platform with the HTG Sports Showcase Game, hosted at the MRB QC District 2 Gymnasium in Quezon City from 10 am to 4 pm. Designed to combine competitive youth sports with professional, broadcast-quality event production, the launch event offers fans, parents, and young athletes a fresh vision for how youth basketball tournaments should be conducted. HTG Sports founder Miggy Al-Alawy said in a press statement, “The core purpose of the Showcase Game is to demonstrate HTG Sports’ commitment to raising operational and production standards in local youth sports. The event provides a platform where young players can compete, develop, and showcase their skills under professional conditions, while acknowledging everyone involved in the ecosystem—from coaches and referees to event staff and families.” Built around the core value “Honor The Gift,” the event aims to create a platform where
athlete’s potential and community contribution are both recognized and elevated. The showcase features four competitive matchups across four age divisions (12U, 13U, 14U, and 15U), bringing together top youth programs from across Metro Manila, including San Beda, Diligent Basketball, R3R, and Jubilee Christian Academy. The action kicks off with the 12U Division at 10 am featuring Diligent Basketball, followed immediately by the 13U Division at 11:30 am featuring R3R. Afternoon action ramps up with the 14U Division at 1 pm, highlighting San Beda, and concludes with the 15U Division at 2:30 pm, featuring the Jubilee Christian Academy. To deliver a high-energy experience for both in-person spectators and digital audiences, HTG Sports is introducing production standards typically reserved for major leagues. MPBL referees will officiate games to maintain high-quality, professional standards on the court, complemented by full media coverage, including professional sports photography, digital content creation, and dedicated media spotlights for participating teams. Furthermore, every game will be streamed via a multi-camera broadcast setup, allowing fans, scouts, and families to follow the action live. Spectators can also look forward to halftime shows across all four games, sponsor activations, and dedicated branding integration to deliver a complete game-day atmosphere. Al-Alawy stressed that beyond the launch event, the Showcase Game serves as the foundation for future HTG Sports leagues, regional tournaments, and athlete showcases. “By bringing athletes, coaches, brand partners, and local communities together, HTG Sports aims to build a sustainable, trusted platform for sporting events across the Philippines,” he added. The HTG Sports Showcase Game will take place on September 12, 2026, from 10 am to 4 pm at the MRB QC District 2 Gymnasium in Quezon City. For inquiries and more information, email htgsportsofficial@gmail.com.
For any kind of stay guests need, there’s always Richmonde Hotel Ortigas
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RAVELERS today rarely fit into just one category. A family may be looking for a quick city escape, and a professional may need to combine work with a little downtime, while one guest may be staying longer to make the most of a business trip and another may require a stay that accommodates their faith, cultural needs, wellness requirements, or sustainable choices. As one of the first hotels that opened in Ortigas Center more than 27 years ago, Richmonde Hotel Ortigas (RHO) has been catering to the needs of the visitors of this continuously growing corporate and commercial district. And for years, whatever the reason for their journey, there’s always Richmonde providing a dependable place to stay with carefully curated options designed around the different ways guests travel, work, relax, and spend time together. Bringing together comfortable accommodations, proximity to the CBD’s business and lifestyle destinations, convenient access to the metro’s neighboring cities, dining choices, attentive Filipino hospitality, and more of what matters to each guest, RHO’s latest room packages are designed for enjoyable stays that feel distinctly personal to them.
For families who want more time together
A family getaway does not always require a long journey.
Sometimes, a change of scenery in the city is all it takes to turn an ordinary weekend into meaningful time together. The STAY TOGETHER Family Time Package caters to families with children from toddlers to pre-teens, whether they are visiting Metro Manila or simply looking for a quick family staycation. Rates start at P4,700 nett with inclusions and perks valued at as much as P2,000. The package includes complimentary breakfast at Richmonde Café for up to two adults and two children aged 12 and below, one complimentary extra bed, and an upgrade to the next room category. Families can also enjoy 20 percent off Room Service and Richmonde Café food and beverage orders, 15 percent off Lobby Café orders with a minimum purchase of P1,000, late check-out until 2:00 p.m. subject to availability, and welcome snacks to share. From a leisurely breakfast to a cozy night in with the family, the package gives guests more opportunities to enjoy their own kind of family time.
For professionals who want to work well, live well
THE modern business traveler is no longer defined by a packed corporate itinerary. Remote workers, digital nomads, and bleisure travelers normally look for accommodations where
productivity and relaxation can both be experienced. The STAY BALANCED Workcation Package is designed for exactly that. Starting at P4,100 nett, it offers perks valued at up to P2,500, including a choice between P500 in dining credits, redeemable at any hotel dining outlet, or complimentary use of alt|space, its co-working area at the Lobby Café, with consumable P500 worth of food and beverage. Guests can also enjoy 20 percent off massage services, 10 percent off airport transfers, early check-in as early as 10 am subject to availability, and a welcome amenity. Whether the day calls for focused work with a change in scenery, a good meal with time to recharge, the package gives guests the flexibility to create a workday that works for them.
For travelers who prefer to take their time
SOME trips are better enjoyed without watching the clock. For bleisure travelers spending more than a night in Metro Manila, the STAY LONGER Extended Stay Package offers greater value while providing a convenient home base in the heart of Ortigas. Rates start at P3,900 nett per night for a minimum two-night stay, and P3,800 nett per night for a minimum five-night stay, with food and beverage discounts and other perks included. With offices, shopping destinations, dining, and lifestyle
HOPEE and the Iloilo City government are deepening their partnership under the city’s Sustainable Income Generation Through Entrepreneurship (SIGE) Asenso program, introducing sustained, quarterly digital commerce coaching, marking the first time a Tatak Pinoy MSME Roadshow engagement has evolved from a single workshop into an ongoing local government partnership. The announcement was made at the culmination of the Tatak Pinoy MSME Roadshow’s first year, which brought practical digital commerce training to more than 1,200 businesses across 20 cities and municipalities. Designed as a grassroots capability-building program, the Roadshow works with local governments to bring training into their communities, making practical e-commerce guidance more accessible to entrepreneurs where they are. During its first year, some LGUs requested repeat sessions to reach more constituents. At the same time, Shopee also developed tailored sessions for groups including families of Philippine National Police Eastern Police District personnel and members of MSME organizations. Tatak Pinoy is also designed to bring together practical guidance across different aspects of running a business online. Rather than having entrepreneurs piece together support from separate providers, the Roadshow combines Shopee’s expertise in helping businesses start and scale online, SPX’s guidance on logistics and fulfillment, and Monee’s financial literacy program for small businesses, including managing finances and cash flow. The Roadshow’s first year also highlighted a consistent insight: bringing training closer gives entrepreneurs an important starting point, but many benefit from continued guidance as they put what they learn into practice. “Meeting entrepreneurs in different communities gave us a clearer view of what they need when starting or growing a business online. Bringing practical training closer makes it easier for them to access support, but we also learned that continued guidance matters as they begin applying what they learn,” said Jack Ng, Head of Commercial, Shopee Philippines. “That’s what’s shaping how we’re evolving the Roadshow into its second year,” he added.
In Iloilo, that learning is taking shape through a quarterly engagement with participants of the city’s SIGE Asenso capacitybuilding initiatives. Under this partnership, the Tatak Pinoy Roadshow coaches will return to Iloilo every quarter to train participants already enrolled in the city’s SIGE Asenso capability-building initiatives. Participating MSMEs will receive: Quarterly coaching from Shopee, SPX, and Monee covering different aspects of running a business online A six-month onboarding support package for eligible graduates who begin selling on Shopee Continued coaching between sessions as they apply what they have learned Access to information on business registration and related government services “Entrepreneurs need different kinds of support as their businesses develop. This partnership complements what the city is already building through SIGE Asenso, giving participants regular access to practical guidance that can help them start selling online or improve how they currently operate,” said Iloilo City Mayor Raisa S. Treñas. Aside from the Tatak Pinoy training, entrepreneurs also received on-site guidance through a one-stop shop for business registration and related services from the Department of Trade and Industry (DTI), Bureau of Internal Revenue (BIR), Food and Drug Administration (FDA), Department of Information and Communications Technology (DICT), Department of Agriculture (DA), and the Bureau of Fisheries and Aquatic Resources (BFAR), among other national government agencies and local government offices. As Tatak Pinoy MSME Roadshow enters its second year, Shopee will explore deeper, more sustained partnerships with other local governments, shaped by what it learned from its first year, ensuring its commitments remain responsive to each community’s needs. “We want to give entrepreneurs practical support wherever they are in their business journey. What we learned from our partnerships in Year 1 and now with Iloilo City will help shape how we build similarly meaningful collaborations with other local governments going forward,” Ng added.
TRICAP-led Project Kapwa brings relief, medical aid to 250 families in Malapatan, Sarangani
T
HE Tribal Communities Association of the Philippines Inc. (TRICAP), together with government, corporate and hospitality partners, brought humanitarian assistance to 250 calamity-affected families in Malapatan, Sarangani on August 19, 2026, through Project Kapwa. Led by TRICAP National President Bae Limpayen Jennifer Pia Limpayen Sibug-Las, the humanitarian team conducted relief operations at the evacuation site in San Roque, Poblacion, where 250 families received relief goods following recent calamities that affected communities in the municipality. The mission was undertaken in partnership with Apo View Hotel, Eurotel, Hotel Sogo of the Global Comfort Group, the NCIP Region XII Medical Team, Ramosco and GOODERA. The participation of the NCIP Region XII Medical Team under the leadership of Regional Director Datu Joey Bogay and Sarangani Provincial Officer, Luciano Lumancas added a critical health component to the humanitarian response, bringing medical assistance closer to affected families at the evacuation site. Prior to the relief operation, the Project Kapwa team paid a courtesy visit to Malapatan Mayor Salway “Jun” Sumbo Jr. at his office to coordinate with the local government and discuss the situation of affected communities. The team was also assisted by Indigenous Peoples leaders and local partners, including Datu Jaime Lantingan and Malapatan Indigenous Peoples Mandatory Representative (IPMR) Fulong Titus Mandalo. For TRICAP, the initiative represents more than the distribution of relief goods. It reflects the organization’s continuing commitment to Indigenous Peoples and vulnerable communities
and its belief in the Filipino value of kapwa—the recognition that communities must stand together during times of crisis. “Project Kapwa is about standing with communities when they need us most. Humanitarian assistance becomes more meaningful when government, civil society, the private sector and communities work together with compassion and dignity,” Sibug-Las said. The initiative also demonstrates the value of cross-sector partnerships in disaster response. TRICAP said the collaboration among Indigenous Peoples organizations, government agencies, private institutions, hospitality establishments, corporate volunteers and humanitarian partners enabled the team to bring assistance directly to families in an evacuation setting. Sibug-Las expressed appreciation to all Project Kapwa partners, particularly Apo View Hotel, Eurotel, Hotel Sogo of the Global Comfort Group, NCIP Region XII Medical Team, Ramosco and GOODERA, for supporting the humanitarian mission. TRICAP also thanked the Municipality of Malapatan and its Indigenous Peoples representatives for facilitating the team’s engagement with affected families. Project Kapwa forms part of TRICAP’s broader advocacy of “Strengthening Indigenous Peoples’ Voices from Roots to Rights,” extending the organization’s work beyond advocacy and representation toward community-based humanitarian action. The organization said it will continue to work with partners and local communities in responding to the needs of Indigenous Peoples and other vulnerable sectors, particularly during emergencies and disasters.
attractions within easy reach, Richmonde Hotel Ortigas allows guests to settle into the city comfortably while making the most of a longer itinerary. For travelers who prefer a little more time to work, explore, rest, or simply enjoy the city at their own pace, staying longer can make all the difference.
locally made welcome amenity, an edible and sustainably made turndown treat, and 20 percent off the hotel’s plantbased menu, making it easier to explore more mindful dining choices during their stay. Beyond the individual experience, a portion of proceeds from every stay will be donated to Project Pearls, extending the impact of the guest’s stay beyond the hotel. It is an invitation to take a pause, enjoy a quieter pace, appreciate local flavors and craftsmanship, and make a positive contribution along the way.
For guests who value a more inclusive stay
A comfortable hotel experience should also be one where guests can observe their faith with ease. Recognizing the needs of Muslim travelers, Richmonde Hotel Ortigas offers the STAY COMFORTABLE Muslim-Friendly Package, designed to provide thoughtful amenities that support a more convenient and inclusive visit. The package includes P1,000 in dining credits for the hotel’s Halal menu, a Qibla in the room, use of a prayer mat and Quran, access to the hotel’s dedicated prayer room, and 10% off laundry services. These provisions allow Muslim guests to enjoy the conveniences of a hotel stay while having access to facilities and services that help them practice their faith comfortably.
For those who want to stay mindful
For travelers looking to improve their well-being and indulge in some quiet reflection while maintaining their eco-friendly way of life, the STAY MINDFUL Sustainable Package incorporates these in a two-night hotel accommodation starting at P9,000 nett. Guests receive a
Different reasons to stay, one place to count on
THE way people travel continues to evolve, and so do their expectations of a hotel. At Richmonde Hotel Ortigas, these different needs are not treated as exceptions—they are part of what makes every guest’s stay unique. Across each experience, one thing remains consistent: a commitment to comfort, convenience, and RHO’s signature Sampaguita brand of warm, caring, and gracious service that guests can rely on. There may be many reasons to travel, but for your kind of stay, there’s always Richmonde Hotel Ortigas. All packages are available for stays until the end of the year. For reservations and inquiries, guests may contact Richmonde Hotel Ortigas at (632) 8638 7777, email stay@richmondehotelortigas.com, or visit www. richmondehotelortigas.com.ph.
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Monday, August 31, 2026 B7
TEACHING PR FOR TOMORROW
Part 2 of a two-part series on PR education
I
N Part 1, I argued that PR education has to “listen” to industry, not merely follow it. The university has to prepare students for the world of work without allowing the world of work to define their education. Technology makes that argument harder. If AI can write, summarize, monitor, analyze, and generate content, should we simply teach students how to use it? Or should we be spending more time on what technology cannot decide for them? The same eight PR educators from Part 1 take the conversation further, this time on technology, AI, and sustainability. Professor Jantima Kheokao of the University of the Thai Chamber of Commerce in Thailand brought our discussion back to judgment. As routine tasks become automated, students need verification, synthesis, fact-checking, critical judgment, and responsible use of generative AI. Communication professionals remain accountable for factual accuracy, particularly in crises. From Indonesia, Nia Sarinastiti, PhD, of Atma Jaya Catholic University of Indonesia draws a useful distinction: “Our responsibility is to help students move from being digital users to becoming strategic communication professionals who can interpret data, manage digital reputation, understand AI, address misinformation, and communicate ethically across multiple platforms.” Hui Zhang, PhD, of Bridgewater State University in the US uses Brandwatch and Mention for media monitoring and social listening, Google Analytics for interpreting web traffic and au-
GALING PILIPINAS OPENS IN BUSAN, PUTTING FILIPINO CREATIVITY ON THE MAD STARS STAGE
FILIPINO creativity stepped into the spotlight at MAD STARS 2026 on August 26, as Galing Pilipinas—a three-day showcase of Filipino creativity—opened with a ribbon-cutting ceremony at its exhibit booth in Signiel Busan, marking the country’s debut as the festival’s first-ever Country of Focus. For the first time in its 19-year history, MAD STARS, Asia’s marketing, advertising, and digital festival, has dedicated a Country of Focus program to a single nation. That distinction went to the Philippines, and the task of bringing it to life fell to adobo Magazine, the festival’s longtime media partner, which conceived
and produced Galing Pilipinas as its creative showcase. The exhibit opening drew a room of dignitaries and industry figures: Vice Consul Maggie Lacaba and Cultural Officer Renan Estrella of the Philippine Consulate General in Busan; MAD STARS’ Chairperson Park and Vice Chairperson Ben Heo; this year’s MAD STARS jury members Roman Calor Olivarez of TREYNA Group Philippines and Nikki Sunga of BBDO Guerrero; and adobo Magazine’s Founder, President, and Editor-in-Chief, Angel Guerrero. Jill Tan Radovan, adobo Magazine’s Editorial & Content Director, hosted the program, welcoming guests to what she called “adobo Magazine’s unique way of showcasing the different facets of Filipino creativity and spotlighting the Philippines as the first-ever Country of Focus.”
A name and a mission
THE name Galing Pilipinas carries a deliberate double meaning. In Filipino, galing can mean “from,” denoting origin, or “ex-
PR education in practice: preparing students to move beyond knowing what to do toward understanding the hows and whys of communication. PHOTO COURTESY OF FEU
dience engagement, Canva for visual storytelling, and ChatGPT to explore the ethical and strategic use of generative AI. She is also thinking about how AI may reshape entry-level PR roles while maintaining “the creativity, critical thinking, and human-centered communication that remain essential to the profession.” Hina Issar Huria of the School of Communication and Reputation in Mumbai, India says the school has introduced Data Analytics for PR, AI in Communication, Technology in Research, and Ethical Use of AI to help students interpret data, draw insights, and use technology ethically and effectively in communication strategies. Students also explore responsible AI use in content creation and storytelling, “learning to balance innovation with integrity.” In South Korea, Suk Won Baek, PhD, of Chungnam National University cites Digital Media Strategy and New Media Advertising as responses to the growing role of online platforms, while Digital Persona, Media Analytics, and AI-based Content Analysis prepare students for data-driven communication environments. At International School of Applied Social Sciences and the Swiss School of Management Barcelona in Spain, Elizabeth Soliday-Naui, PhD, says the program uses virtual teamwork and project management tools “to simulate international cam-
paign coordination,” alongside data analytics and AI-driven communication tools. From Malaysia, Professor Dr. Jamilah Hj Ahmad, Accredited in Public Relations, Fellow of the Institute of Public Relations, of Universiti Sains Malaysia says students examine which social media tools have the greatest impact on corporations, which ones companies use, and why, so they can apply them effectively in campaigns, Corporate Social Responsibility (CSR), research, and stakeholder engagement. Her practical reminder: “Tools are rapidly evolving, making it essential to research current technological advancements.” And in the Philippines, Marco Polo, PhD, of De La Salle University-Dasmariñas says curricula now often include “modules on digital storytelling, social media management, data analytics, and online reputation management,” although infrastructure and teacher training remain challenging. Then there is sustainability. Here, the answers are less uniform. Ahmad proposed a CSR course with 60 percent practical content, including sustainability projects aligned with at least three Sustainable Development Goals (SDGs). She sees this exposure as increasingly important as CSR positions grow in Malaysia, while PR can build trust and transparency around organizations’ sustainability commitments.
cellence,” denoting skill and talent—and the program is built to hold both meanings at once. Angel, addressing the guests, traced the project back to the moment MAD STARS approached adobo Magazine with the opportunity to showcase the Philippines as the festival’s first-ever Country of Focus. “We saw it as an enormous opportunity—not just to showcase trailblazing and award-winning Filipino campaigns, but to recognize the breadth of Filipino creativity across industries and communities. It’s a chance to put the Philippines’ creative economy on an international stage, and proudly celebrate the culture and identity that shape it,” Angel added. Chairperson Choi of MAD STARS also addressed guests on why the organizing committee chose the Philippines as its inaugural Country of Focus, following brief remarks from Vice Consul Lacaba.
Chairperson Park, Vice Chairperson Ben Heo, Vice Consul Lacaba, Nikki, and Roman and cut the ribbon— officially opening the exhibit, followed by a round of photos. Jill then led a guided tour, walking guests through the exhibit’s concept and design before handing off to two of adobo Magazine’s team members for a closer look at its contents. She pointed out design touches drawn directly from Filipino visual culture—including “the font commonly used in signages for Filipino jeepneys” and references to traditional textile weaving patterns—woven into the exhibit’s overall aesthetic. She framed the exhibit’s curatorial approach as deliberately layered: alongside award-winning and commercially successful campaigns, the selection also highlights work that is “uniquely, distinctly Filipino—rooted in our culture and reflecting our national identity,” as well as work so iconic it has become part of everyday Filipino life. The exhibit included a Wall of Cam-
Ribbon-cutting and a guided Tour AFTER the opening remarks, Angel, Jill,
Polo says Philippine higher education institutions are embedding sustainability into coursework, research, and campus operations. He sees PR playing a role in shaping public discourse, advocating transparency, and facilitating stakeholder engagement around sustainability issues. Huria treats sustainability as a reputation issue, with PR helping align purpose with action through transparent storytelling and stakeholder engagement, making sustainability part of organizational identity rather than simply a communication theme. Baek points to Media Ethics, Advertising and Society, Social Marketing, and Crisis Communication as courses that develop social responsibility and prepare students to advocate sustainable values within organizations. Zhang uses CSR and sustainability campaign cases to show how communicators can drive organizational change, connecting classroom learning with campus sustainability initiatives. Kheokao is more cautious about Thailand. Sustainability and the SDGs are increasingly visible in universities, but she could not confirm that sustainability is systematically embedded across PR courses. Soliday-Naui connects sustainability with CSR, ethical communication, and environmental stewardship, with attention to how organizational
paigns and an accompanying reel showcasing a mix of MAD STARS-winning, distinctly Filipino, and iconic Philippine campaigns. It also featured Philippine-made brands and products, several of which— provided through the Center for International Trade Expositions and Missions (CITEM)—have previously been featured at Manila FAME, the country’s premier trade show for lifestyle, fashion, and home products, and at the Likhang Filipino exhibition halls. Jill closed the segment by thanking the exhibit’s roster of partners and supporters: the Department of Foreign Affairs, the Philippine Consulate General in Busan, CITEM, the Design Center of the Philippines, Philippine Airlines, Oishi, Papemelroti, Guzto Banana Chips, Lemon Square, Lucky Me, M25, Think Tank, and LoudBox Studios.
More to follow
THE exhibit opening was only the first of three Galing Pilipinas components.
commitments are communicated credibly across stakeholder groups. Sarinastiti takes a stronger position: “Sustainability is no longer an elective topic in public relations education.” She argues that PR should go beyond communicating sustainability initiatives and help enable sustainable transformation. My appreciation for these insights is less about the tools themselves and more about what we expect students to do with them. I would push students more toward the hows and whys, and less toward the whats. The better AI becomes, the less convinced I am that teaching the tool should occupy the center of PR education. Our students certainly need to know how to use it. But knowing how to construct prompts is different from knowing whether what AI generates is accurate, ethical, useful, or even worth saying. Sustainability presents a similar problem. Communication cannot make an organization sustainable simply by calling it sustainable. Perhaps this is where PR education earns its place in the university. We should teach students how to use what is new, but also how to question it. A PR Matter. PR Matters is a roundtable column by members of the local chapter of the United Kingdom-based International Public Relations Association (Ipra), the world’s premier organization for PR professionals around the world. Rowena Capulong Reyes, PhD is the vice president for Corporate Affairs of Far Eastern University (FEU). She is an executive committee member of the Metro Manila Film Festival 2025 and heads its education committee. She was formerly the Dean of FEU Institute of Arts and Sciences and Colegio de San Juan de Letran. She is the immediate past president of the Philippine Association of Communication Educators (PACE), serving two terms. We are devoting a special column each month to answer our readers’ questions about public relations. Please send your questions or comments to askipraphil@ gmail.com. For more insights and updates on public relations, follow PR Matters by IPRA Philippines on Tiktok, Youtube, Instagram and Facebook.
That evening, a Salu-Salo Social brought together Filipino food, drinks, and MAD STARS delegates and jury members at Lilikoi, organized with support from M25, LoudBox, and Think Tank. The program continues on Friday, August 28 with the Galing Pilipinas conference, bringing together three prominent figures in Philippine marketing and advertising: David Guerrero, Creative Chairman of BBDO Guerrero; Merlee Jayme, Chairmom of Jayme Headquarters and The Misfits Camp; and Dennis Perez, Head of Marketing and Marketing Transformation Lead at Unilever Philippines and Unilever Greater Asia Beauty & Wellbeing. Their sessions will explore how Philippine culture shapes brand strategy and creative output, followed by a cultural dance performance from the United Fil-Korean Families. The exhibit itself will remain open for the full three days of the festival, tracing Philippine creative work from the 1980s to the present alongside past MAD STARSwinning campaigns from the country.
B8
Monday, August 31, 2026
www.businessmirror.com.ph
Legal gun owners to Remulla: Why pick on us? Angeles By Fernan Marasigan
Special to the BusinessMirror
L
EGAL gun owners on Sunday assailed Secretary Juanito Victor Remulla’s plan to have policemen visit their homes to check on the safekeeping of their weapons. Remulla floated the idea when asked by congressmen during the recent budget hearing of the proposed 2027 budget of the Department
of the Interior and Local Government when asked for his response to school violence. School shootings, the latest
of which were in the cities of Tacloban and Zamboanga, involved government issued firearms and not weapons owned by civilians holding License to Own and Possess Firearms (LTOPF). After receiving f lak on his proposal, Remulla immediately clarified that his recommendation would be implemented not by search warrant but by a waiver to be signed by gun owners to allow the police to inspect their homes if their licensed firearms are kept securely. “I really wonder what the Justices of the Supreme Court will say about waivers, as a substitute for a search warrant,” said Charles
Khalid Rico, a gun aficionado who used to work with the technical working group that drafted gun laws in Congress. “In this week ’s episode of ‘blame lawful gun owners for government officials’ mishandling of government-issued firearms,’ Remulla suggested in Congress that the solution to these school shootings, is random lawful gun owner house inspections,” said Rico. He observed that Remulla has been reiterating that gun ownership in the country is just a privilege and not a right, and therefore, the National Police can require gun owners to consent to this. “So the PNP can do random house inspections and
put it in the implementing rules of Republic Act 10591 or the Comprehensive Firearms and Ammunition Regulation Act. “Two things. First, while gun ownership might be a privilege in the Philippines, as Remulla likes to rub it in our faces every 10 minutes, all Filipinos have the right against unreasonable searches and seizures,” said Rico, citing Article 3, Section 2 of the 1987 Constitution or the Bill of Rights which says, “The right of the people to be secure in their persons, houses, papers, and effects against unreasonable searches
@butchfBM
F
OUR parcels of “illegally reclaimed” land in Taguig City have been initially identified as covered by “fraudulentlyissued” land titles, while at least four other parcels have no plotted title lots in the digital file of the Land Registration Authority (LRA), Sen. Panfilo Lacson said.
Lacson said he revealed the details of the initial findings to dispel insinuations that his earlier disclosures on the illegal reclamation activities in Taguig City were “fake news.” “Since Senator [Alan Peter] Cayetano keeps publicly asking for evidence, I’ll give it to him, in the spirit of public interest,” Lacson’s post on X said. The details of the four “fraud-
ulently-titled ” parcels, which he stressed is “not fake news,” include the following: (a) one covered by an Administrative Patent, involving 9,204 square meters under an Original Certificate of Title (OCT); (b) one covered through Judicial-Ordinary Land Registration Processing covering an area of 5,000 square meters under an OCT; (c) one covered by a Homestead
Patent involving 181,077 square meters under a Transfer Certificate of Title (TCT); and (d) one involv ing 193,027 square meters under a TCT. Some details, including the names of those to whom the titles were issued to, as well as the OCT and TCT numbers, were withheld for the time being while the investigation is ongoing, he said.
By Ashley J. Manabat
A
“All of these will likewise be turned over to the Ombudsman fact-finding team for their further appropriate action,” Lacson added. Earlier, Lacson said the LRA has started checking the origin and history of several newly uncovered land titles covering some 38.83 hectares of illegally reclaimed
NGELES CITY—Garbage has piled up in parts of Angeles City, with residents in some areas reporting missed collections lasting more than a week and, in some cases, up to three weeks. Concerned resident Mela Ibañez said the situation was unusual for Angeles City and expressed disappointment over the accumulation of garbage. “ Parang nga yon pa lang po nagkaganyan ang Angeles City, nakakalungkot po,” Ibañez said. Jennifer Castro, officer of the City Environment and Natural Resources Office (Cenro), attributed the disruptions to recent weather conditions, temporary shutdowns at the sanitary landfill in Porac, and difficult access to the facility. “Aside from the weather we have, [the problem] is because our sanitary landfill closed for several days and only recently reopened,”
See “Taguig,” A8
See “Garbage,” A8
See “Gun,” A8
Senator bares titling of ‘illegally reclaimed’ land in Taguig City By Butch Fernandez
chokes in garbage
Dr. Iris Tanchuling of St. Luke’s: To parents on teens’ health, ‘Don’t lose the connection’
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“Start with little things like asking them and letting them be. Don’t do everything for them. You can actually transition them into starting their own health care,” Dr. Tanchuling said. She advised parents, “You can say what you’re concerned with, like, ‘Maybe we can go to that specific doctor. You let me know so that we can check.’” “At least give them some empowerment over their health. I think that’s one of the big things that needs to be done in terms of transitioning them later on into adulthood.”
By Francine M. Marquez
s teenagers become more independent, parents may naturally give them more space. But according to pediatrician Dr. Iris Tanchuling, adolescence is precisely the time when parents should remain connected to what is happening in their children’s lives.
The teenage years bring rapid physical, mental, and emotional development. Beneath the growth spurts, changing moods, and newfound independence, adolescence is a critical period, with effects that can last a lifetime. This Monday on “Freshly Brewed,” BusinessMirror’s weekly podcast, the health challenges facing today’s teenagers and what parents can do to help their children through this journey take center stage. Joining the conversation is guest Dr. Tanchuling, pediatrician and head of the Institute of Pediatrics and Child Health at St. Luke’s Medical Center–Global City, and host Anne Ruth Dela Cruz, BusinessMirror Health and Fitness editor. According to Dr. Tanchuling, it is easy to overlook adolescence because teens are growing up and tend to assert their independence. Parents, on the other hand, give them some freedom, although both parents and adolescents may not readily recognize aspects of the latter’s health that need to be addressed. “(Teenagers) have adult bodies, but their minds are not as mature as adults per se. I think it’s really a precarious time because they can do almost anything and everything, and yet they
Dr. Iris Tanchuling, pediatrician and head of the Institute of Pediatrics and Child Health at St. Luke's Medical Center Global City
still have a little bit to go in terms of maturity and learning how to care for themselves or navigating adulthood,” said Dr. Tanchuling. An uncertain time of growth, adolescence is also a period when misconceptions abound. Among them, said Dr. Tanchuling, is the belief that, “Usually, if they don’t complain about anything, then there’s nothing wrong. Sometimes, parents think a lot of teenagers like to be alone, and they don’t want their parents making kulit.” Parents may therefore step back from interacting with their children and miss certain health cues. Dr. Tanchuling encouraged parents to continue communicating with their teenagers.
Health challenges
AMONG the biggest health concerns during adolescence is mental health, the pediatrician said. “I would say that the biggest concern would really be mental health—especially after the pandemic. I think it really had a toll across all pediatric age groups. But I think teens really feel it heavily because during the pandemic, they were so focused on social media and the computer. All
Anne Ruth Dela Cruz, BusinessMirror's Health and Fitness Editor
Best specialized hospital
Dr. Iris Tanchuling, pediatrician and head of the Institute of Pediatrics and Child Health at St. Luke's Medical Center Global City, talks about the health challenges being faced by today's adolescents with Anne Ruth Dela Cruz, BusinessMirror's Health and Fitness Editor. the interactions were not live,” she observed. “There was always a gap, a distance. So now they’re transitioning into how to get back to that space wherein they can interact with people and let their feelings be known,” she added. For some teenagers, being behind a screen can feel safer than showing their real selves. But this can also make it more difficult for them to navigate everyday interactions and express what they are going through. “It’s not so much that they really do have a problem, but they may have some concerns navigating regular, everyday activities or life.” Technology plays a big part in a teenager’s life, from smartphones and social media to online learning. It also provides access to apps that offer medical information, as well as trackers for menstrual cycles and medication schedules. On the other hand, spending too much time online and on gadgets can lead to a sedentary lifestyle, which could contribute to health problems such as obesity. Excessive screen time can also affect sleep, noted the pediatrician. “Lack of sleep really decreases your immune system and affects how your mental health will be the next day. It also affects your growth and development.” The prevailing online culture also impacts teenagers’ reproductive health, said Dr. Tanchuling. Raising awareness about sexual health is important, especially when information is provided in an age-appropriate manner and in a safe, nonjudgmental space.
“I think what we need to take caution is that sometimes, the younger teens are exposed to many things with sexual content or things that they would probably not be mature enough to handle right away,” she said.
Smoking and vaping
ANOTHER prevalent problem is smoking cigarettes—and now, vaping. The spread of vape shops, in particular, has made e-cigarettes more accessible, even to minors. Often thought to be harmless because they do not produce tar or carbon monoxide in the same way as burning tobacco, vaping also poses health threats, warned Dr. Tanchuling. “Some people think vaping is safe, but truly it’s not. Lately, we’ve been seeing some teens that suddenly have complete respiratory failure,” she said. “They have to be brought to the ICU because their lungs just collapsed or there’s really just so much inflammation that caused scarring all over their lungs.” “Imagine having that at the prime of their life,” she added.
Multidisciplinary approach
TEENAGERS up to 18 years old are still referred to a pediatrician. The Institute of Pediatrics and Child Health at St. Luke’s Medical Center–Global City consists of trained medical professionals who take a multidisciplinary approach. Its specialties include pediatric endocrinology, pediatric allergology, pediatric pulmonology, adolescent psychiatry, and pediatric intensive care.
Its emergency room is open 24/7, assuring patients and parents that pediatric specialists are on standby for emergencies. This collaborative approach provides better care and recovery through holistic evaluation, coordinated diagnostic tests, and integrated goal-setting. St. Luke’s also offers a Teen Wellness Program with set packages starting with basic procedures such as a CBC, urinalysis, stool exam, ECG, chest X-ray, and eye checkup. For parents, however, knowing when a concern is simply part of growing up and when it requires medical attention can be difficult. “First and foremost, I will always say that if it bothers you, have it checked, because we have that mother’s instinct. Or, if you see something in your child, you don’t actually know what it is, but you just can’t place it, go for a checkup because there’s something that your doctor might see that you might not see right away.” With teens, in particular, a behavior change—from being cheerful to suddenly becoming withdrawn—is a valid concern that may need to be checked.
Safe space
AS teenagers try to gain independence, they also yearn for privacy. While this is important in their search for identity, it can also be a sensitive matter when it comes to parents checking in on their health and allowing their children to talk about how they are feeling without being blamed or criticized.
St. Luke's Medical Center Global City, was recently recognized as Number One in the prestigious “Best Specialized Hospitals Asia Pacific 2026” rankings by Newsweek and Statista. Expressing her gratitude, Dr. Tanchuling reflected, “I think it’s really just a validation of what we’ve already been doing because St. Luke’s has really been at the forefront of medical care for quite a number of years. That’s really been the thrust—to have competence, excellence, and really be the first in terms of having new equipment available,” she added. She also mentioned the culture of care that the hospital extends to its patients and their families. “I think it’s really just being there and caring for your patient and having that connection, not only with the parents but with the child as well.” Another factor that sets the hospital apart is the close coordination within the team. “We are a close-knit group that can talk to each other and that it’s easy to refer to. And because of that, it makes it really easier for the overall care of our patients,” she continued. For parents, raising teenagers may be challenging as their children go through emotional and developmental changes. But keeping the lines of communication open is important, said Dr. Tanchuling. “Don’t lose that communication, that rapport. Just get to know a little bit about your teen every day because then that will make it easier for you to pick up if there is something wrong with them, even if it’s just something minute. “It’s easier to get to the bottom of things if you are up to date on what’s happening with their lives,” she stated. • Watch the full interview on BusinessMirror’s YouTube channel. Catch new episodes of Freshly Brewed every Monday at 10 a.m. on BusinessMirror’s YouTube channel, Facebook page, and website.
A BusinessMirror Special Feature
National Heroes Month
Monday, August 31, 2026 C1
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THE FADING REVOLUTION:
GHOSTS OF 1896 IN A CITY THAT FORGOT ITS FIRST CRY To remember 1896 is not only to salute flags or recite dates. It is to recover a map: where Bonifacio stood, where the cedulas were torn, where the wounded were sheltered, where the first battles were lost, where early republics were crushed, and where the bodies of heroes disappeared.
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By Joel C. Paredes
O walk through Tondo and Binondo today is to pass through the noise of modern city life: traffic, commerce, construction, and the restless movement of people. Beneath that surface, however, lies the hidden geography of the Philippine Revolution. Somewhere in this crowded district stood the world of Andrés Bonifacio: his humble beginnings, his home in Tondo where the Supremo of the Katipunan came from, the streets that shaped his politics, and the underground networks of the Kamahalmahalang Kagalanggalangang Katipunan ng mga Anak ng Bayan, from secrecy to open revolt. It was in this laboring-class district that the Supremo was born on November 30, 1863—the feast of St. Andrew the Apostle, 33 years before the 1896 Revolution. Orphaned at age 14, he stepped up to raise his siblings and embraced a proletarian culture shaped by sources ranging from the Bible to the literature of the Propaganda Movement, the lives of American presidents, Jose Rizal’s novels Noli Me Tangere and El Filibusterismo and Victor Hugo’s Les Miserables. His intellectual path eventually brought him into La Liga Filipina and Freemasonry—pursuits uncommon for a plebeian—while his fierce patriotism ultimately led him to guide the masses toward revolution. Yet very little of his world now remains. The site associated with Bonifacio’s old home has been overtaken by Tutuban’s long transformation from rail station to commercial center, leaving only a monument where a national memory should have stood. Some historians have theorized that such a home may no longer have mattered to Bonifacio, who was constantly on the move while organizing the Revolution. Carrying different cédulas and using aliases, he could have torn several of them during mass gatherings to emphasize the need for the people to free themselves from the bondage of colonial abuses. Even the original wooden house at 72 Calle Azcarraga, now CM Recto Avenue, near the corner of Elcano Street, was completely destroyed and replaced by a commercial building when the area became the busy commercial hub known as Divisoria. It was there that Deodato Arellano, brother-in-law of the late propagandist Marcelo H. del Pilar, lived, and where the Katipunan was founded on July 7, 1892, after the arrest and banishment of Jose Rizal.
Historic day, house
Today, we can only trace the place through a mural-like monument in front of the building. It reminds visitors that on that historic day, Bonifacio and Arellano—a civilian clerk at the Maestranza de Artillera in Manila who also wrote for the Diario Tagalog and became the first Presidente Supremo of the Katipunan—were joined by Bonifacio’s brother-in-law Teodoro Plata, a court clerk; Valentin Diaz, a desk officer at the Binondo Court; Ladislao Diwa, a judicial scribe; and Jose Dizon, an engraver and silversmith at the Casa de Moneda in Manila. In nearby Binondo and San Nicolas, the revolutionary press that printed Kalayaan— the Katipunan newspaper that used printing types retrieved from Diario de Manila and helped swell the ranks of the underground movement—has also disappeared into the hard surfaces of the big city. These places where the Revolution instigated by the working class found its voice have become places where history must compete with redevelopment, if not just forgetfulness and neglect.
From Balintawak to Pugad Lawin
THE fading creeps northward along the road of 1896. Balintawak, then a barrio within the
Bonifacio Shrine and Eco Tourism Park in Maragondon Cavite. PHOTO BY NONILON REYES/BUSINESSMIRROR
KKK monument in Divisoria. PHOTO BY NONILON REYES/BUSINESSMIRROR
sparsely populated municipality of Kaloocan, with its sitios of Kangkong and Pugad Lawin, along with Pasong Tamo and Banlat, were once flashpoints on the revolutionary map. After the Katipunan was discovered by Spanish authorities in August 1896, Bonifacio and hundreds of his followers fled Manila and gathered on the northern fringes of Kaloocan, in Kangkong, where they planned their uprising on August 22 in the house of Apolonio Samson, a local farmer, before moving on to Pugad Lawin. Sitio Kangkong was later renamed Barangay Apolonio Samson to honor his role in the Revolution. There in Pugad Lawin, amid shifting accounts and disputed sites, the Cry of the Revolution took form. Katipuneros tore their cedulas and chose armed resistance against Spain. The National Historical Commission later marked the Cry at Pugad Lawin, in what is now Bahay Toro, honoring the gathering led by Bonifacio and about a thousand Katipuneros on August 23, 1896. Still, the date and exact location remain debated, showing how even the first cry of the revolution survives partly as memory, partly as argument, and partly as a plaque. Fifteen years after the Cry, a monument to the heroes of the 1896 Revolution was unveiled in Balintawak, beginning the tradition that the uprising started on that spot as the “Cry of Balintawak” on August 26, 1896. One of the early historians of the Revolution, Teodoro M. Kalaw, as cited by writer Nick Joaquin, was unable to locate the exact date when he was researching his work Revolucion Filipina in the early 1920s. Indeed, his account in the book says only that “the opening scene of the revolution was staged in Balintawak, which is now in the province of Rizal, during the last days of August 1896.” He narrated that the followers of the Supremo were not yet fully prepared for an uprising, but the unexpected discovery of the Katipunan’s existence and the attendant measures of retaliation precipitated the war. When hundreds were arrested, he said, Bonifacio at once called a meeting of the Katipunan in Kangkong, which later “proved stormy and tumultuous.” Kalaw’s account: “After some discussion, the radicals led by Bonifacio and Emilio Jacinto triumphed. Once committed to the grave decision, the meeting adjourned, and the participants, determined to win or die, decided not to return to their homes. To show that from that moment they had broken all ties with Spain, they tore into pieces their certificates of citizenship: the cedulas. Bonifacio later issued a manifesto urging his followers to wage war. August 29 was the day set for the commencement of hostilities.” Even Bonifacio’s widow, Gregoria de Jesus, wrote in her brief autobiography that when some of the movement’s secrets had already been exposed, she and her husband moved to Kalookan. It “was then that the uprising began with the cry for liberty on 26 August 1896.” In 1916, then Speaker Sergio Osmeña opened the Philippine Assembly by paying homage to the heroes of the revolution “on that fateful day of August 26, 1896.”
hiding places. It was also shaped by the people who gave the movement its voice, discipline, and moral destiny until the time it failed due to the greed and ambition of a privileged political clique that undermined the cry of the masses. By December 1895, Bonifacio had been elected Supremo. Around this period, Emilio
Later accounts identified the landscape and the date tied to the historic tearing of cedulas. So after 50 years of celebrating the Cry on August 26, then President Diosdado Macapagal signed a declaration in 1963 officially moving the state commemoration to August 23 at Pugad Lawin. It was based on the recommendation of the National Historical Commission, which relied on mid-century historian Teodoro Agoncillo, whose research drew on the memoirs of Dr. Pio Valenzuela, a member of the Camara Reina, the supreme secret chamber of the Katipunan and an eyewitness to the event. But it was only in 1998 that a shrine was finally built to coincide with the centennial celebration of Philippine independence in Pugad Lawin on Banlat Road, which was presumed to be the exact location of the yard and house of Juan Ramos where Bonifacio and the Katipuneros gathered for the Cry. The old shrine’s marker cited August 23, 1896, as the original Cry. After renovation, however, the shrine carried only the date “August 1896,” with a tableau of life-sized bronze statues symbolizing the 56 revolutionaries identified by the late revolutionary in a 1952 interview of the vernacular newspaper Bagong Buhay with General Guillermo Masangkay with the tearing of cedulas. It is worth noting that Katipunan traditionally pointed to August 26 in Balintawak as the Cry of the 1896 Revolution. The debate may not have diminished the meaning of these places in our history, but it showed how memory survived in fragments, recollections, and competing claims.
A difficult path
PASONG Tamo and Banlat carried another kind of memory: not the shout of revolt, but the shelter that made revolt possible. There, Tandang Sora, later called the “Grand Woman of the Revolution,” fed and cared for the wounded. Her home became a sanctuary for men who had little more than bolos, faith in the revolution, and an almost impossible belief that a colonized people could become free. When Spanish authorities learned about her involvement, she was arrested by the guardia civil and later transferred to the old Bilibid Prison in Manila. For refusing to cooperate with Spanish authorities, she was forcibly exiled to Guam and placed under house arrest with another Filipina, Segunda Puentes, in the residence of Don Justo Dungca, a Filipino who had settled in the Marianas island enclave. When the Americans had fully colonized her homeland, she returned to the Philippines in 1903. She refused to receive any pension, saying that her role in the Revolution was her own free choice, and later became an active member of the Philippine Independent Church until her death on February 19, 1919. Dr. Valenzuela later recalled that the Katipunan grew slowly in its early years. According to his account, Bonifacio said the group had only a few hundred members before its rapid expansion in 1896. The Revolution’s geography was not only made of battle sites, narratives, and
Jacinto emerged as one of the movement’s most important young leaders. In her brief autobiography, written in Filipino, Bonifacio’s wife Gregoria de Jesus—known in the underground movement as Lakambini—wrote that her husband and Jacinto, the secretary of the Katipunan, were like brothers. Jacinto stayed with them in Tondo
when the couple, after their wedding at the Minor Basilica of St. Lorenzo Ruiz across Plaza Calderon de la Barca in Binondo, moved to Calle Anyahan, in front of the Visita de San Ignacio. It was in that house that Gregoria de Jesus and her family sewed the first flag of the Katipunan. They later lost their home after it was razed in a fire that hit the Dulong Bayan district during Holy Week in 1896. Bonifacio was said to have been the “author of the idea” of a Kartilya, but because of his affection for and deference to Emilio Jacinto, the Kartilya written by Jacinto was made to prevail and was put into effect by the Katipuneros. The Kartilya ng Katipunan eventually became the organization’s primer on conduct and principles. Jacinto, who used the revolutionary name “Pingkian,” helped frame its principal ideas of liberty, patriotism, and equality. Jacinto’s memory also followed a difficult path after his death from malaria in Santa Cruz, Laguna, on April 16, 1899. His remains were first buried in the town, later moved to the Manila North Cemetery, and eventually transferred to Himlayang Pilipino in Quezon City, where a monument now honors him.
Continued on C2
VinFast VF 6’s IP67-Rated Powertrain Is Built for Flood-Prone PH Roads
VinFast Philippines leads the local electric crossover race with an IP67-rated powertrain built into theVinFast VF 6. This engineering design makes the VF 6 a weather-ready crossover, designed to withstand different roads and severe monsoon conditions in the country.
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HE crossover segment is the most fiercely contested automotive category in the Philippines, making up 83% of the market in the mid-2025 CAMPI report. Moreover, the segment’s electric subcategory is slowly gaining ground as Filipinos continue to seek mobility options designed to withstand challenges brought by the Philippine rainy season. An IP67-rated powertrain can withstand dust exposure and water submersion for up to 30 minutes. Addressing one concern among prospective EV buyers in the country, the VF 6 features the said battery pack with a 59.6 kWh capacity, indicating protection against dust ingress and temporary water immersion. This engineering ensures that no dust can enter the critical components of the VF 6, keeping its internal hardware safe from tiny debris and sudden floods. Likewise, the rating adds another layer of protection for the vehicle’s battery system, giving drivers peace of mind that their crossover remains safe in heavy rains, splashes, and spills during rainy season driving. This weather-ready engineering answers the severe unpredictability of the Philippines’ rainy season. According to PAGASA, the enhanced Southwest Monsoon (Habagat) this August brought rainfall exceeding 200% of normal monthly averages. The MMDA also recorded 138 millimeters of rains in just two hours on August 17 – rates that mirrored 2009’s Tropical Storm Ondoy – triggering immediate flash floods across major thoroughfares. These downpours compound Metro Manila’s chronic gridlock, where the 2025 TomTom Traffic Index recorded a 57% congestion level and average speeds of just 18.9 km/h. To help drivers safely navigate both severe weather and heavy traffic, the VinFast VF 6 acts as a high-tech urban co-pilot, combining weather-ready hardware, active safety systems, and EV ownership benefits engineered for the rainy season.
High Tech Urban Co-Pilot: Engineered to Challenge WetWeather Conditions
Eager to address one of the major hesitations in EV adoption in the country, the VinFast VF 6 leverages its 170mm ground clearance to navigate through urban flash floods. Its 1,650 kg curb weight provides the grounded physical footprint needed to maintain traction on pooled water. To keep the vehicle planted on slick surfaces, the Electronic Stability Program and Traction Control work alongside Electronic Brakeforce Distribution to help maintain stability and braking control when road conditions become unpredictable. Furthermore, Heated Side Mirrors and Defoggers help maintain clear sightlines when heavy rain and moisture compromise the driver’s view. To reduce the mental strain of navigating busy, rain-soaked roads where torrential downpours blur lane markings and reduce visibility, the VinFast VF 6 is equipped with key Advanced Driver Assistance Systems (ADAS) features. Adaptive Cruise Control maintains a safe distance from the vehicle ahead, helping reduce the need for constant speed adjustments in slower-moving traffic. Meanwhile, the 360-degree camera makes it easier to navigate tight streets and parking spaces by giving drivers a bird’s-eye view of their immediate surroundings. Blind Spot Detection andRear Cross Traffic Alertadd another layer of awareness. These features can be particularly useful in congested conditions, where reduced visibility and heavy traffic can make it more difficult to monitor vehicles approaching from different directions. This is especially timely, given the MMDA recorded 23,260 road crashes in Metro Manila from January to May 2025 alone, underscoring the need for technology that supports driver awareness and safety. For passive safety, the VF 6 Plus also
comes equipped with eight airbags, while the Eco features four, providing additional protection for occupants in the event of a collision.
A Premium Mobility Investment Built for the Rainy Season
The VF 6’s electric powertrain delivers 310 Nm of torque with responsive and controlled acceleration, helping drivers manage the frequent starts and stops of congested city traffic. When sudden rains conceal sharp potholes beneath standing floodwaters, the crossover’s rear multi-link suspension – a setup typical for higher-segment SUVs – helps provide a more composed ride over uneven roads. Rainy season gridlocks can turn a usual one-hour drive into a four-hour standstill – a scenario where traditional gas vehicles continue consuming fuel while idling. The VinFast VF 6, meanwhile, uses an electric powertrain that does not require the engine to idle while stationary. With over 450 km of NEDC-rated range and DC fast charging from 10% to 70% in 35 minutes, the VF 6 also offers the range and charging flexibility needed to fit into demanding daily routines. Ownership is further protected by a 7-year or 160,000-km vehicle warranty and a 10-year or 200,000-km battery warranty, delivering vital long-term protection against the harsh wearand-tear of the rainy season. VinFast also offers free unlimited charging at V-Green stations until March 31,2029, alongside complimentary accessories like a home wall charger with installation. Priced at P1,699,000 (battery included) and P1,409,000 (battery subscription), the VinFast VF 6 fuses weather-ready engineering with intelligent driver assistance and comprehensive ownership support. Whether you are navigating rain-soaked city streets or braving the daily Metro traffic, the VinFast VF 6 is engineered to make the journey more confident, comfortable, and manageable.
A BusinessMirr
C2
Monday, August 31, 2026 | www.businessmirror.com.ph
National He
THE FADING REVOLUTION:
GHOSTS OF 1896 IN A CITY THAT FORGOT ITS FIRST CRY Continued from C1 On April 12, 1895, Bonifacio, who used the revolutionary name “Maypagasa,” brought several Katipuneros to the hills of Montalban (now Rodriguez, Rizal). At Pamintinan Cave, an inscription using charcoal associated with the movement— “Viva la Independencia de Filipinas”—has been remembered as an early expression of the desire for freedom and independence. Meanwhile, Tandang Sora’s memory has often been reduced to road names and scattered markers, while the old landscape of revolutionary refuge has been swallowed by congestion. Her remains were first interred at the Mausoleum of the Veterans of the Revolution at the North Cemetery, and later at the Himlayang Pilipino Memorial Park. They were eventually transferred to a national shrine built by the city government near her daughter Saturnina’s home in Banlat, where she died on February 19, 1919, at the age of 107. Banlat has since been renamed Barangay Tandang Sora, along with its main road. The old house, which originally housed a large bust of Tandang Sora, had marked her death as February 20, 1919, following earlier erroneous accounts by local historians until the date was later clarified in the Official Gazette. The house, however, was eventually torn down and rebuilt as a multistory city government multipurpose center within the interior of a social housing community. The new Tandang Sora shrine where her remains are now interred was built a block away from her old home along the main road, along with a “women’s museum” that helped recover part of that memory—not only for Tandang Sora, but also for the women who sustained the Revolution from behind the lines and beyond.
The first battles
The “first shot” of the Revolution was documented as the “Battle of Pasong Tamo” on August 25, 1896, when Bonifacio and a group of poorly armed Katipuneros encountered a Spanish guard patrol led by Lt. Manuel Ros on the ridges of Banlat near the property of Tandang Sora. Outgunned in modern armaments, the revolutionaries made a tactical withdrawal to Balara, realizing it was futile to hold an open field position. With the uprising under way, Bonifacio’s forces struck at Pinaglabanan in San Juan del Monte (now San Juan City) five days later, targeting strategic Spanish installations, including the water reservoir and gunpowder depot. The battle ended in severe losses for the Katipuneros, but it announced that the revolt was no longer a secret conspiracy. It had become a war. The following month, on September 4, the Spanish government also started its mass executions. Eight days later, the socalled “Trece Martires de Cavite” were put to death. In Bulacan and Nueva Ecija, revolutionary action formed part of the wider northern front, along with the whole of Cavite, showing that the uprising had begun to stretch beyond Manila into the provinces that would later sustain armed resistance. The tragedy of the Revolution did not come only from Spanish rifles. It also came from within. Bonifacio was not merely the Supremo of a secret society. Some historians argue that when the Katipunan transformed into a revolutionary government, Bonifacio stood as president of the Haring Bayang Katagalugan, making him, in their view, the country’s first revolutionary president. This claim, however, remains outside the usual official list of presidents, where Emilio Aguinaldo was recognized as the first president of the First Philippine Republic. The argument remains historically powerful because it restores Bonifacio’s political vision: a revolution of the masses, not merely a transfer of authority among elites.
Tandang Sora bust at the Tandang Sora National Shrine in Quezon City. PHOTO BY NONILON REYES/BUSINESSMIRROR
The Kakarong de Sili Shrine, also known as Inang Filipina Shrine, in Barangay de Kakarong, Pandi, Bulacan. PHOTO BY NONILON REYES/BUSINESSMIRROR
The Sigaw sa Pugad Lawin Shrine in Bahay Toro, Project 8, Quezon City. PHOTO BY NONILON REYES/BUSINESSMIRROR
Tejeros and Maragondon
That vision was broken at Tejeros. What began as an attempt to settle leadership among revolutionary factions became the turning point where Bonifacio’s authority was stripped away. The Magdiwang and Magdalo rivalry in Cavite exposed not only military division, but also a class fracture inside the revolution itself. Bonifacio’s election to a lesser post was treated as an insult, his objections were ignored, and his attempt to invalidate the proceedings led to his arrest, trial and execution. In Maragondon, Cavite, the founder of the revolution was judged by fellow revolutionaries and condemned as an enemy. He and his brother Procopio were executed by a detachment under Major Lazaro Makapagal at the foot of Mt. Buntis, later identified as Mt. Nagpatong. To this day, their remains have never been conclusively traced, despite the recovery of bones exhumed by Bonifacio’s trusted lieutenant, Guillermo Masangkay, after the alleged remains were spotted in January 1918 by Fr. Lupo Dumandan between Nagpatong and Marikaban. Makapagal later claimed that the exhumed bones were fake, saying the brothers had been buried in a different place. The original grave may have also been washed away through the years because a river runs near the execution site, where Makapagal and his men reportedly buried them in a shallow grave. The alleged exhumed remains were reportedly placed in a coffin-like structure at the Library and Museum of the Philippines by its director Epifanio delos Santos, where it was later transferred to the old Legislative Building on P. Burgos Street when the National Library moved there before the outbreak of the war. They were later destroyed, and Bonifacio’s alleged remains vanished. Ironically, Tejeros was a sitio in the town of San Francisco de Malabon, which was later renamed General Trias in honor of Gen. Mariano Trias. Trias had originally belonged to Bonifacio’s Magdiwang faction but later shifted toward the Magdalo side when he accepted the nomination for vice president in Aguinaldo’s revolutionary government. Gen. Mariano Noriel, who was president of the Council of War that sentenced the Bonifacio brothers to death for sedition and treason, later figured prominently in the Pact of Biak-naBato and the “Battle of Zapote.”
He was eventually executed by hanging six years after he was charged with the murder of a man at a cockpit in Bacoor, Cavite, in May 1909. Still, a historical marker for the general was recently unveiled in Bacoor, and a centennial park was named after him in Sto. Domingo, Nueva Ecija. The street where the ancestral house of Teodorico Reyes stands—the place where the Bonifacio brothers were tried and convicted—was renamed after Col. Crisostomo Riel, a member of the Consejo de Guerra who refused to sign their final death sentence. It is also worth examining the fate of Aguinaldo’s trusted political lieutenants, then-Colonels Agapito Bonzon and Jose Ignacio Paua, who were the primary implementers of the violent raid and arrest of Bonifacio and his brother Procopio in Limbon, Indang, Cavite, on April 27, 1897. The Supremo’s other brother, Ciriaco, was killed. Bonzon was identified as the gunman who shot Bonifacio during the skirmish and was later accused by Bonifacio’s wife, Gregoria de Jesus, of attempting to violate her. Paua, on the other hand, stabbed Bonifacio in the neck during the arrest. While Bonzon faded into historical obscurity after allegedly leading the slaughter of 300 Kapampangans in Macabebe, Pampanga, Paua went on to earn a promotion to full general during the Filipino-American War. After surrendering to the Americans, Paua settled in Albay and became mayor. For a time, he was even considered by parts of the Chinese community as a local revolutionary hero: a Chinese-Filipino blacksmith who started his military career by helping manufacture and repair weapons during the Revolution. The Maragondon site remains one of the most painful pieces of unfinished memory. The Teodorico Reyes ancestral house associated with Bonifacio’s trial survived, was declared a national historical landmark by the government, and was converted into the Museo ng Paglilitis ni Andres Bonifacio. Yet the broader story around it remains uneasy: a place of judgment, betrayal, and death preserved more as a relic than as a national reckoning. Despite the establishment of a national shrine and an ‘eco-park,’ the site where the Bonifacio brothers were killed remains nearly isolated. Ironically, the area is currently maintained by the Department of Tourism, which built a villa-type office
near the shrine, but without people manning the park. This isolation persists simply because visitors must pass through rugged roads leading to the foot of the mountain where they need to pass through a privately owned agro-tourism farm, which lacks any signage of the Shrine at the gated entrance. If Tutuban represents the erasure of Bonifacio’s beginnings, Maragondon represents the obscurity of his end. A nation that cannot locate the bones of the man who ignited its revolution is forced to confront a deeper absence—the absence of justice in its own historical memory. Kakarong de Sili and Biak-na-Bato In Bulacan, the tragedy widened. At Kakarong de Sili in Pandi, Bulacan, Katipunan revolutionaries built a fortified settlement when the Revolution broke out in 1896, with a complete set of officials. Canuto Villanueva, a local landowner, was elected Supreme Chief, with schoolmaster Eusebio Roque as Captain General of the Armed Forces. Popularly known as Maestrong Sebio, Roque was also head of the local Katipunan organization, Balangay Dimasalang, along with Casimiro Galvez. Accounts describe the Kakarong Republic as one of the earliest organized revolutionary governments in the country, predating Biak-na-Bato and Malolos. On January 1, 1897, Spanish forces attacked and destroyed the stronghold. What should have stood as proof that ordinary revolutionaries could govern themselves through the Republica de Kakarong de Sili instead became a battlefield of massacre and collapse. Eusebio Roque was captured and eventually executed on January 16, 1897. Villanueva, on the other hand, managed to escape with his retreating revolutionaries, who eventually shifted to guerrilla warfare in Bulacan. Among those wounded in that siege was the “Boy General”, Gregorio del Pilar, a lieutenant at that time, and together with his troops was able to escape to nearby Barangay Manatal, and rejoined the Aguinaldo forces. In 2024, Lodge No. 168 of the Legionarios del Trabajo erected a historical monument known as “Inang Filipinas” on the historic grounds of the Battle of Kakarong de Sili, providing a permanent memorial to the 1,200 Katipuneros who died during the New Year’s Day massacre. From Kakarong, the revolution staggered toward Biak-na-Bato, where
Aguinaldo and the revolutionary government later retreated into the mountains of San Miguel, Bulacan. The Pact of Biak-na-Bato promised exile, money, reforms, and a temporary halt to hostilities. In reality, it marked another tragic interruption. The Revolution that had begun with cedulas torn in defiance ended that phase in negotiation, exile, and uncertainty. When independence was proclaimed in Kawit in 1898 and Aguinaldo later became president of the “First Philippine Republic,” the official commemorative landscape shifted southward to Cavite and Malolos. The victors gained monuments while the scattered dead gained markers, if they were fortunate enough. Aguinaldo, however, was not spared from early setbacks after emerging as the Revolution’s leader and president of the Philippines’ short-lived independence. Apolinario Mabini immediately openly questioned the June 12, 1898 declaration of independence on June 12, criticizing its dictatorial structure and its claim that “the United States would be the protector of the Filipinos.” His objections foreshadowed the tensions that would emerge in the Aguinaldo-led republic. On August 1, 1898, through the Bacoor Assembly, th Aguinaldo-led independence was “re-ratified” through the Acta de Independencia penned by Mabini in an effort to correct the flaws of the June 12 declaration. Mabini also pushed for a transition from a fragile military dictatorship to a civilian-based republic, but that vision never fully materialized. He later offered a constitutional program and a moral code for the new nation. Historian Onofre D. Corpuz, however, cautioned against looking at the Revolution as lacking political ideas before Mabini. The ideas of Rizal, the Propaganda Movement, Bonifacio, and Jacinto were already part of the revolutionary tradition. Filipino revolutionaries soon faced the overwhelming force of the American military, and the course of Philippine history shifted once again—this time under a new colonial power and with local collaborators adjusting to American rule. In mid-July 1898, before moving his forces north, Aguinaldo invoked the Katipunan in a circular letter. He said the whole country had become the true Katipunan because Filipinos were united by one goal: to free the motherland from bondage.
The Katipunan spirit did not disappear. Corpuz wrote that Aguinaldo revived its network in late 1899 when he turned to guerrilla warfare against the new colonizers. Katipuneros in the towns supported the guerrillas and helped prolong the Filipino-American War beyond its early phase. After his surrender, Aguinaldo later spoke favorably of American governance. Nationalist leaders, including Manuel L. Quezon, challenged that view.
An “Unfinished” revolution
This is why the 1896 Philippine Revolution, to many nationalist historians, can still be called unfinished. Politically, its promise of liberty was cut short by factionalism, compromise, American conquest, and old inequalities that survived the fall of Spain. Bonifacio had warned against dependence on outside powers and called on Filipinos to rely on their own strength. In his essay “Ang Dapat Mabatid ng mga Tagalog,” he described colonial rule as a chain that dishonored any people who wished to live with dignity. His message was direct: freedom required unity of feeling, thought, and purpose. A divided people could not defeat the evils that ruled the country. Socially, the revolution also remained unfinished because the masses, who formed the backbone of Bonifacio’s Katipunan, did not inherit the freedom they fought for. Mabini, in one of his writings, summed it up by saying that the Supremo’s death “had plainly shown Mr. Aguinaldo’s boundless ambitions for power.” “May we not forget so terrible a lesson, learned at the expense of unspeakable sufferings,” he concluded after witnessing the fall of the Aguinaldo republic before his death in 1903. Historian Renato Constantino later observed that the Katipunan already linked anti-colonial struggle with democratic aspiration. But he also noted its limits: many leaders still carried old habits of hierarchy inherited from Spanish rule. For Constantino, the early revolution briefly suggested that equality was within reach. Yet the masses, newly awakened to dignity, often trusted ilustrado leadership in the provinces without seeing how elite ambitions could redirect the revolt. Physically, the Revolution remains unfinished in the places that should anchor national memory. Many have been neglected, privatized, disputed, or paved over.
ror Special Feature
eroes Month
www.businessmirror.com.ph | Monday, August 31, 2026
C3
The Heroes We Choose To Remember
Our nation was built not only by the heroes whose names became legends, but also by patriots like Cayo Alzona—individuals whose faithful service helped transform a dream of independence into the institutions of a Republic.
On August 26, the National Historical Commission of the Philippines unveiled the National Historical Marker dedicated to Cayo Alzona at his birthplace in Biñan City. The marker formally commemorates the life and legacy of one of Biñan’s distinguished sons and his place in the history of the Filipino nation. PHOTO COURTESY OF BCHATO.
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By Bryan Jayson T. Borja
VERY August, the Philippines celebrates three observances that, at first glance, seem unrelated. We commemorate National History Month, celebrate Buwan ng Wikang Pambansa, and conclude the month with National Heroes Day.
Yet these are not separate celebrations. They tell one story. History gives us memory. Language gives us identity. Heroes give us purpose. The heroes we honor are not only those whose monuments dominate our plazas or whose names fill our textbooks. Many helped build the country in quieter but equally meaningful ways. Their stories may have faded from public consciousness, but their contributions remain woven into the nation’s foundations.
Shared history
This August, the City of Biñan joins the country in that act of remembrance. Just last week, historians, educators, researchers, museum workers, and cultural advocates gathered in Biñan for the 2026 National Conference on Local History and Heritage organized by the National Historical Commission of the Philippines. It was a timely reminder that history is not merely studied in classrooms or preserved in archives. It is continually rediscovered, revisited, and shared by every generation. That commitment finds another expression on August 26 with the unveiling of the refabricated National Historical Marker dedicated to Cayo Alzona (1868–1927), one of Biñan’s distinguished sons. Alzona’s life reflects the many ways patriotism can be expressed beyond the battlefield. A lawyer by profession, he belonged to the generation that transformed the ideals of the Revolution into nation-building. He taught alongside Apolinario Mabini before joining the Malolos Republic as Secretary of Foreign Affairs in 1899.
During his sojourn in Hong Kong, he maintained ties with the revolutionary movement led by Galicano Apacible before returning to public service as fiscal, judge, and government official in various provinces across the country. His career reminds us that winning independence was only the beginning. A nation also needed laws to uphold justice, institutions to preserve order, and public servants willing to dedicate their lives to the common good. Men like Cayo Alzona quietly carried that responsibility. Yet today, few Filipinos know his name. Perhaps that is why historical markers matter.
Restoring the forgotten
They are not simply plaques. They restore forgotten lives to our national consciousness. They invite us to pause, to ask who these people were, and to understand that history is richer than the handful of names we learned in school. But recent events in Biñan have also made me confront a more difficult question: Are we doing enough to make people understand why these markers matter? Early August, several local historical markers installed in privately-owned heritage houses in Biñan were looted. These markers were mounted by the LGU to identify and commemorate places connected to the city’s history. Their disappearance was not only a loss of physical objects. It was a painful reminder that preserving history and making people value history are two different challenges. We can install markers. We can restore heritage houses. We can build museums, hold
conferences, publish research, and commemorate important dates. But if the stories behind these efforts remain inaccessible or irrelevant to the people we hope to reach, then preservation risks becoming an exercise that happens around communities rather than with them. Perhaps this is where our work in the promotion of history must evolve. We need to find more ways to amplify history—to tell it in classrooms and communities, in museums and theaters, through digital platforms and popular culture, and in the language that people actually use and understand. We need to make history not only something to be protected, but something people can recognize as part of their own lives. The same is true of language.
Delegates of the National Conference on Local History and Heritage gather at historic Plaza Rizal in Biñan City, the host city of this year’s conference. In the backdrop stands the Alberto Mansion, one of Biñan’s most iconic heritage landmarks and a living testament to the city’s rich historical legacy. PHOTO COURTESY OF NHCP.
20 Everyday Filipinos Honored for Extraordinary Acts of Courage Through “Hero For All”
The initiative reflects the values of empowered courage and integrity by recognizing individuals whose actions uplift others and helping sustain the communities connected to their stories.
Deeper meaning
History survives because it is told. It is preserved through documents, speeches, letters, literature, and the languages that carry them across generations. Language allows memory to endure, while history gives language its deepest meaning. Together, they shape our understanding of who we are as Filipinos. Perhaps this is the deeper connection among National Heroes Day, National History Month, and Buwan ng Wikang Pambansa. All three ask us to remember - but remembrance is not simply knowing a name or reading a date. It is understanding why a person, a place, a word, or an event matters enough to be carried forward. As we celebrate National Heroes Day, National History Month, and Buwan ng Wikang Pambansa, may we look beyond the familiar faces of our past. Our nation was built not only by the heroes whose names became legends, but also by patriots like Cayo Alzona—individuals whose faithful service helped transform a dream of independence into the institutions of a Republic. Our challenge today is not only to remember them. It is to make sure that the generations that come after us understand why they should remember. Remembering them is more than an act of nostalgia. It is an act of nation-building.
“Hero For All” honors Rhodora Alcaraz-Toñacao for her bravery and heroism during the fire in Tai Po, Hong Kong, where she shielded her employer’s threemonth-old infant with her own body through thick smoke on the 13th floor, wrapping the baby in a bedsheet until rescuers reached them.
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WENTY ordinary Filipinos whose courage, compassion, and selflessness have made a meaningful difference in the lives of others are being recognized through “Hero For All: Honoring Stories of the Everyday Filipino,” a nationwide initiative dedicated to celebrating the unsung heroes whose stories deserve to be heard. First announced on the Day of Valor April 9, 2026, “Hero For All” shines a light on Filipinos who choose to help others despite their own circumstances—demonstrating that heroism can be found in everyday people who simply choose to do what is right when it matters most. The initiative is supported by Casino Plus, one of the country’s leading responsible digital entertainment platforms licensed by the Philippine Amusement and Gaming Corporation (PAGCOR), and championed by the AR Foundation, with Alden Richards serving as Hero For All Lead Advocate. Driven by the belief that positive experiences can create meaningful impact, the initiative reflects the values of empowered courage and integrity by recognizing individuals whose actions uplift others and helping sustain the communities connected to their stories.
Recognizing Heroes, Strengthening Communities
Each of the 20 honorees will receive a commemorative trophy alongside a total award of P1,000,000: P500,000 awarded directly to the recognized hero in recognition of their personal sacrifice and bravery, and P500,000 provided to their partner community organization to help
support and scale their local advocacy efforts. The initiative was inspired by living examples of heroism such as Rhodora AlcarazToñacao, a 28-year-old overseas Filipino worker from San Pablo City, Laguna, who was named the campaign’s first awardee. On her first day at work in Hong Kong on November 26, 2025, Toñacao shielded her employer’s three-month-old infant with her own body through thick smoke on the 13th floor, wrapping the baby in a bedsheet until rescuers reached them. “Hindi ko inaakala na may kakayanan pala akong tumulong pagdating sa ganung tragedy. Nasa puso ko po talaga na, ikaw ’to. Matapang ka, kaya mong tumulong,” she had said. Her story embodies the spirit of Hero For All: that heroism does not always come from people seeking recognition, but from ordinary Filipinos who choose to act with courage and compassion when someone needs help. “We want to normalize how people see heroes—today, they are everyday Filipinos who, despite their own struggles, still choose to help others,” said Alden Richards, Founder of the AR Foundation and Hero For All Lead Advocate. “Rhodora’s courage is a powerful reminder of the inherent goodness in our countrymen that deserves to be celebrated.” Alden emphasized that Hero For All looks beyond the scale of an individual act and instead recognizes the intention behind choosing to help. “What we really look for is intention more than the impact. Kindness and goodness, may it be big or small, can go a long way,” he added.
A Nationwide Search for Everyday Heroes
To ensure nationwide inclusivity, nominations were gathered digitally across social media and web portals, as well as offline through physical nomination postcards distributed across the country to reach communities without reliable internet access. All submissions underwent independent verification before advancing to a distinguished multi-sector jury panel composed of respected leaders across government, media, civil society, and academe: Joy Flavier-Alampay, Director, Ramon Magsaysay Transformative Leadership Institute, Ramon Magsaysay Award Foundation; Tina Arceo-Dumlao, Business Features Editor, Philippine Daily Inquirer; Ma. Teresa Habitan, Vice Chancellor, Philippine Tax Academy; Daniel Cecilio, Senior Vice President for Land-Based Operations, PAGCOR; and Alden Richards, multiawarded actor, founder of AR Foundation, and Hero For All Lead Advocate. Nominees were evaluated based on selflessness, courage, sustainability, and “story transferability,” considering how an individual’s act of service could inspire similar communityled solutions across the country. “Hero For All” is a celebration of Filipinos who do good not because they expect recognition, but because helping others is simply doing the right thing. By recognizing their courage and supporting the communities behind their acts of service, Hero For All seeks to amplify stories of integrity, empathy, and meaningful social impact—and remind Filipinos that there are heroes all around us.
A BusinessMirror Special Feature
National Heroes Month The Trilogy of Conscience C4 Monday, August 31, 2026
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We did not begin in 1521. We did not begin in 1898. We did not begin when others finally wrote about us. We were already here—praying, trading, sailing, burying, remembering, promising, failing, repairing, and beginning again. By Dr. Pablo S. Trillana III Former chair, National Historical Commission
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HREE Dates, One Nation: The Flag, the Republic, and the Conscience of Rizal A flag sewn by women. A Republic carried in a hammock. A dawn entrusted to Basilio.
I. The Flag: A Cloth That Remembers.
EVERY year, toward the end of May, the Philippine flag begins to appear more visibly in our streets, schools, public buildings, offices, and homes. It is raised, saluted, photographed, printed on posters, and sometimes worn almost as decoration. Children stand before it. Soldiers march before it. Officials speak beneath it. But a flag is never merely cloth. If it is true, if it has been earned by suffering and sacrifice, a flag is memory made visible. It is the soul of a people lifted into the wind. During my years at the National Historical Institute, the days from late May to June were among the busiest in the historical calendar. There were flags to be raised, wreaths to offer, speeches to deliver, protocols to observe. History, during those weeks, seemed to put on barong and stand under the sun. But what often stayed with me was not the speech. It was the child. One sees him in almost every ceremony: restless at first, shifting from one foot to another, perhaps more interested in the heat, the crowd, or the snack waiting after the program. Then the flag begins to rise. The anthem begins. Something happens. For a brief moment, the child straightens. He may not yet understand 1896, Bagumbayan, Alapan, or Kawit. But he senses that the cloth climbing the pole is not ordinary cloth. That moment is where Flag Day should begin. On May 28, 1898, after the Filipino victory at Alapan, the Philippine flag was first hoisted. But before it flew in Cavite, it had to be made by human hands. In Hong Kong, Marcela Agoncillo, with her daughter Lorenza and Delfina Herbosa Natividad, sewed the flag within five days. This is the anecdote we should never lose. Before the flag became a national symbol, it was first a work of patience, fabric, thread, eyes, fingers, and faith. A nation was being stitched before it was declared. Carlos P. Romulo once called the Filipino an “inheritor of a glorious past” and a “hostage to the uncertain future.” That phrase still cuts deeply because it remains true. We inherit courage, sacrifice, faith, language, memory, and wound. But we are also answerable to the future. We cannot simply claim the past like ancestral jewelry and then live carelessly under its shine. The Philippine flag did not invent the Filipino soul. It gathered it. It gathered memories older than the Republic. The discovery of Homo luzonensis reminds us that the human story in these islands reaches into deep time. The Manunggul Jar tells us that our ancestors imagined death as passage, the soul as voyager, and the boat as bearer between worlds. The Laguna Copperplate Inscription of 900 CE shows a society of law, debt, kinship, writing, and obligation, already part of a wider Southeast Asian world. We did not begin in 1521. We did not begin in 1898. We did not begin when others finally wrote about us. We were already here—praying, trading, sailing, burying, remembering, promising, failing, repairing, and beginning again. Then came 1521: encounter, conquest, cross, wound, gift, violence, conversion, humiliation, transformation. The centuries that followed did not erase the older Filipino. They buried him under new names, trained him in new rituals, wounded him with new hierarchies, but also gave him new instruments of imagination. Out of that long contradiction came the Filipino who could kneel and rebel, pray and write, endure and rise. By the time the flag appeared in 1898, it was not a sudden decoration for a successful battle. It was 1896 given color and wind, the flowering of an older life-force. Beneath its colors were the barangay and the galleon,
SWEEPING THROUGH HISTORY. A heritage groundskeeper tidies up the Zapote battlefield ahead of this year’s National Heroes Day commemoration. The site, along Zapote Road at the Las Piñas–Bacoor border, witnessed two pivotal clashes in Philippine history: the 1897 Battle of Zapote Bridge against Spanish forces, which claimed the life of General Edilberto Evangelista, and the 1899 Battle of Zapote River against American troops during the Philippine-American War. Today, historical markers, statues, and a promenade along Zapote Bridge honor these moments of bravery. PHOTO BY NONIE REYES/BUSINESSMIRROR.
the babaylan and the friar, the datu and the gobernadorcillo, the peasant and the ilustrado, the book and the bolo, the prayer and the blood. Its sun was awakening. Its stars were direction. Its colors were vows. This is why we dishonor the flag when we reduce it to protocol. We salute it in the morning, then sometimes betray it by noon— through corruption, cruelty, indifference, historical forgetfulness, or the selling of public duty for private gain. A flag asks something from the people beneath it. It asks whether courage still lives among us. It asks whether freedom has become merely comfort. It asks whether patriotism has been reduced to slogans while children struggle to read, farmers struggle to live, rivers are poisoned, and public office too often becomes private enterprise. The flag should not be rescued only from disrespect. It must be rescued from emptiness. When we look at it, we should see not only the Revolution, but the entire arc of our becoming: ancient soul, colonial wound, revolutionary courage, republican hope, and the unfinished work of national formation. We should see the overseas Filipino worker carrying the nation quietly in airports, hospitals, ships, homes, and construction sites abroad. We should see the teacher who keeps teaching with little support, the nurse who heals, the soldier who watches, the farmer who feeds, the judge who must stay honest, the artist who remembers beauty, the child who still believes the country can be good. The flag is not asking us to worship the past. It is asking us to become worthy of it. This is why Flag Day should not be treated as a minor prelude to Independence Day. It is the beginning of a national examination. Before we declare freedom, we must ask what kind of people are declaring it. Before we celebrate sovereignty, we must ask whether the soul of the sovereign people remains awake. A country does not become great because its flag flies high. It becomes great when the life beneath the flag rises with it. The Philippine flag remembers. The question is whether we still do. A flag is not honored by waving it alone. It is honored when the people beneath it become worthy of its wind.
II. The Republic: The Man in the Hammock
Every June 12, the Philippines returns to Kawit. We remember the balcony, the proclamation, the flag, the music, and the trembling hope of a people declaring itself free. These are necessary images. Without them, memory thins, gratitude weakens, and citizenship becomes merely administrative. But there is another image near that moment which deserves equal reverence. Apolinario Mabini, paralyzed, was carried in a hammock by relays of men so he could reach Aguinaldo and help give the Revolution a mind.
Pause there. The Republic, in that image, is no longer only a ceremony. It is a burden carried by ordinary backs. It is a wounded body bearing a lucid conscience. It is the people carrying wisdom toward power, so that freedom may become government, and government may become duty. The Revolution of 1896 opened the door. June 12, 1898 declared that the Filipino people claimed the right to exist as a free nation. But a Republic cannot be completed by proclamation. Like the human soul, it must be formed, defended, disciplined, corrected, and renewed across generations. Freedom is not a date. It is a daily discipline. Mabini gave us the severe moral grammar of nationhood when he wrote that one must “strive for the happiness of thy country before thy own,” making her a “kingdom of reason, of justice and of labor.” That is not sentimental patriotism. That is republican doctrine. A people cannot build a country if everyone first asks what can be taken from it. The easy part of independence is freedom from foreign rule. The harder part is freedom from our own unfreedoms: poverty, corruption, ignorance, fear, patronage, dynastic entitlement, weak institutions, shallow education, and the quiet cynicism that teaches citizens to expect little from public life. The Filipino has been politically independent for many years. Yet the deeper work of republican formation remains unfinished. We have had constitutions, elections, courts, congresses, commissions, heroes, martyrs, and movements. We have also had authoritarian temptation, elite capture, transactional elections, and repeated disappointment. But disappointment is not destiny. The Republic is not a machine that runs by itself. It is the moral life of a people organized into public institutions. When the people are awake, institutions can be renewed. When public office becomes private property, the Republic becomes costume. This is why Mabini in the hammock matters. He could not walk, but he helped teach a nation how to stand. His body was limited, but his mind enlarged the Revolution. He reminds us that power needs conscience, courage needs discipline, and freedom needs thought. A revolution may begin with fire, but a Republic must be built with reason. Our struggle for independence moved through many thresholds: ancient communities of sea and river; the wound and gift of 1521; the awakening of the nineteenth century; Rizal’s birth in 1861; the Revolution of 1896; the proclamation of 1898; the formal sovereignty of 1946; the rupture of Martial Law in 1972; the moral uprising of 1986; and the unfinished work of building a nation worthy of its own promise. Seen this way, Independence Day is not nostalgia. It is summons. It asks: What have we done with freedom? Have we used it to build schools that truly form the young? To protect rivers, forests, farms, and seas? To create honest work, fair opportunity, and institutions worthy of trust? Have we used it to raise citizens, or merely
A KITE FOR THE FLAG. In Sto. Tomas, Batangas, 13-year-old Edwin Sibugna carries a tri-colored kite inspired by the Philippine flag as he crosses the Magampong Bridge toward the South Luzon Expressway (SLEX) on his way to an open field, where he planned to fly it. Sibugna said he made the kite as a tribute to the country’s national heroes, whom he admires. The gesture comes as the Philippines observes National Heroes Month this August, honoring Filipinos who have contributed to the nation’s history and identity. PHOTO BY BERNARD TESTA/BUSINESSMIRROR.
voters? Leaders, or merely personalities? The great task before us is development. But not development understood only as roads, airports, bridges, investments, statistics, and ribbon-cutting. These are necessary. A poor country cannot romanticize poverty. Infrastructure matters. Jobs matter. Technology matters. Competence matters. But development without soul becomes extraction. Development without justice becomes spectacle. Development without education becomes shallow growth. Development without conscience becomes the old inequality wearing newer clothes. The Philippines needs development with depth. It needs a people formed in soul, skill, and service. Soul, because without inner anchoring, freedom decays into appetite. Skill, because love of country without competence cannot build anything durable. Service, because talent without sacrifice becomes vanity. This is why education lies at the heart of the Republic. The classroom is not separate from Independence Day. It is where Independence Day either lives or dies. A child who cannot read well, think clearly, speak truthfully, work honestly, and care for others is not merely an educational statistic. He is a warning about the future of the Republic. The same is true of public leadership. A nation cannot rise if its leaders treat public power as inheritance, business, revenge, or theater. The Republic requires stewardship, not domination; service, not performance; intergenerational duty, not short-term advantage. The Filipino people are not lacking in soul. We have endured too much, loved too deeply, prayed too stubbornly, laughed too often in suffering, and risen too many times from ruins to be dismissed as a failed people. But we must stop confusing endurance with transformation. Survival is not yet progress. Ceremony is not yet citizenship. June 12 should therefore be celebrated, but also allowed to disturb us. It should disturb every official who speaks of patriotism while weakening public trust, every citizen who complains about corruption but sells a vote, every institution that displays the flag but neglects its duty. And yet, Independence Day should not leave us bitter. It should make us serious. Mabini was carried to Kawit because the newborn nation needed more than victory. It needed conscience, law, thought, and the difficult discipline of becoming worthy of freedom. We are still being asked to carry that Republic. Not only presidents and generals. Not only judges, legislators, teachers, and soldiers. Every citizen carries it, either by strengthening it or by adding weight to its wounds. When the speeches end, the real Republic begins. The Republic was not born only on a balcony. It was carried on the shoulders of men who understood that freedom, if it is to live, must be borne.
III. Rizal: Those Who Will See the Dawn
NEAR the end of Noli Me Tangere, a wounded man lies in the darkness as a boy gathers wood. The boy is Basilio. His mother, Sisa, is dead. The
man is Elias, though Basilio does not yet fully know the meaning of the life departing before him. Elias has given everything. He has helped Ibarra escape, drawn danger away, and received the wound meant by history for men who give more than they keep. He will not see the morning. Still, before dying, he turns toward the east. He speaks of a dawn he will not live to welcome, and asks that those who will see it should not forget those who fell during the night. That is one of Rizal’s messages to the Filipino future. History is not inherited as comfort. It is inherited as obligation. If we have seen any dawn at all—freedom, education, sovereignty, speech, memory—we have received what others died without seeing. We are Basilio. Rizal’s birthday, June 19, must therefore be more than homage to the child born in Calamba in 1861. It must be an examination of those who survived into the morning. Rizal was not born to decorate plazas. He was born to disturb the conscience of a people. He did not command 1896, but entered it as moral fire. If we remember him only as statue, portrait, holiday, or quotation, we have already begun to lose him. His greatness was not simply that he died. Many have died bravely. His greatness was that he formed himself inwardly until his death became the final expression of discipline. He walked toward it with eyes open, mind sharpened, heart wounded, and conscience awake. The graveyard scene with Elias and Basilio tells us why Rizal still matters. Rizal understood that nations are not built only by those who triumph. They are also built by those who plant in the dark, suffer without applause, speak before they are believed, and die before the dawn they made possible. Elias is not the official hero of the novel. He disappears into sacrifice. Yet it is Elias who entrusts the future to Basilio. This is the Filipino question: What have we done with the dawn entrusted to us? Rizal’s novels did not merely attack abuses. They revealed a society where power had lost conscience, religion had lost humility, education had lost truth, and the people had been trained to fear their own dignity. He exposed not only colonial oppression but the deeper slavery of the mind. That is why Rizal remains dangerous. A living Rizal asks uncomfortable questions. Why are our schools still failing so many children? Why does public life reward spectacle more than wisdom? Why do we praise heroes but often punish integrity? Rizal’s answer was not rage alone. It was formation. Dapitan is the proof. In exile, Rizal could have spent his days in bitterness. Removed from the centers of power, separated from the wider movement, watched by authorities, and placed at the edge of empire, he did not merely wait for history to happen to him. He built. He taught boys. He practiced medicine. He studied nature. He improved water systems. He planted, organized, healed, measured,
carved, wrote, and formed a small community of learning and usefulness. Dapitan was not a pause in Rizal’s life. It was a revelation of his method. It showed that Rizal’s patriotism was not noise. It was formation, work, discipline, and love made practical. There, the future Republic appeared in miniature: school, clinic, water, garden, science, art, order, service, and moral seriousness. No grandstand. No slogans. No applause machine. Just the hard, quiet labor of making human beings better and community life more livable. This is why Rizal’s birthday belongs naturally after Flag Day and Independence Day. The flag gives the Filipino a symbol. Independence gives the Filipino a political claim. Rizal gives the Filipino a moral measure. Without the flag, memory has no visible form. Without independence, memory has no public sovereignty. Without Rizal, sovereignty may lose conscience. Rizal reminds us that the true measure of the nation is not only territory, population, GDP, military strength, or diplomatic posture. These matter, but they are not enough. The deeper question is anthropological and spiritual: What kind of human being is the Filipino becoming? The world today is wealthy in technology but poor in wisdom. It can move capital, edit genes, build artificial intelligence, and destroy cities from the sky, yet still struggles to form human beings capable of compassion, restraint, truthfulness, reverence for life. Here the Filipino may yet have something to offer. Our history has wounded us, but it has also deepened us. We know suffering, migration, family, prayer, laughter amid ruin, and the art of absorbing many worlds while still singing in our own voice. At our best, we know that life is not merely possession, but relation—kapwa, loob, kaloob, bayanihan. These are not museum words. They may be seeds for the future human being. Rizal understood this before we fully did. He was modern, but not soulless; rational, but not cold; patriotic, but not narrow. He loved the Philippines, yet belonged to the world. He carried pain, but turned it into vision. That is why June 19 must not be allowed to shrink into annual homage. It must become an annual self-examination. Are we forming Rizalian Filipinos — young people who can think clearly, feel deeply, work competently, serve generously, and stand courageously before falsehood? Are we preparing citizens for the Republic, or merely workers for the economy and voters for the next election? Rizal’s birthday reminds us that national destiny begins in formation. Before a country can rise, a human being must rise. Before a Republic can be renewed, conscience must be awakened. Before development can become humane, the soul must govern skill. Elias died before morning. Rizal died before the Republic matured. We have seen more dawn than they did. The question is whether we have become worthy of the light.