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PHL inks free trade deal with UAE

THIS frame grab from footage circulating on social media shows protesters dancing and cheering around a bonfire as they take to the streets despite an intensifying crackdown as the Islamic Republic remains cut off from the rest of the world, in Tehran, Iran, Friday, Jan. 9, 2026. UGC VIA AP

By Samuel P. Medenilla & Andrea San Juan

WORLD » A6

IRAN ALLOWS LIMITED INTERNATIONAL CALLS AMID PROTEST CRACKDOWN; DEATH TOLL MOUNTS, US RAISES PRESSURE

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HE country’s trade with the United Arab Emirates (UAE) is expected to get a significant boost with the signing of the Comprehensive Economic Partnership Agreement (CEPA), which will cover agricultural and electronic products as well as services, between Manila and Abu Dhabi on Tuesday. President Ferdinand R. Marcos Jr. and UAE President Sheikh Mohamed bin Zayed Al Nahyan witnessed the signing of the country’s first ever free trade agreement (FTA) with a Middle East country at the sidelines of the Abu Dhabi Sustain-

ability Week (ADSW) 2026 Summit. “The agreement aims to reduce tariffs, enhance market access for goods and services, increase investment flows, and create new opportunities for Filipino professionals and service providers in the UAE,” the Presidential Communications Office (PCO) said in a statement. Under the trade deal, 95 percent of local goods bound for the Middle Eastern country will enjoy reduced or zero duty, according to the Department of Trade and Industry (DTI). Trade officials also expect the CEPA will boost the country’s trade with the UAE by 9.13 percent. Bilateral trade between the two nations reached nearly $1.83 billion

in 2024 and $1.65 billion in 2025. In 2024, the UAE ranked among the Philippines’s top trading partners and served as a “major export market” in the Middle East, DTI noted. The PCO, meanwhile, noted that the UAE ranked 18th among the Philippines’s trading partners and accounted for nearly 39 percent of Philippine exports to the Middle East.

Opens cooperation

THE DTI said through the statement it issued Tuesday evening it also expects the CEPA will help manufacturers expand exports, scale up production and generate more jobs at home. “Benefiting products include personal care and cosmetic items

[hair creams and deodorants], food products [canned tuna, sardines, snacks, and condiments], electronic equipment [hair dryers, instant-print cameras, and parts of electrical machinery], automotive and aircraft parts, and textile and apparel products,” DTI said. Beyond trade in goods, DTI said the CEPA provides “clearer and more predictable” rules for businesses operating in service sectors such as information technologybusiness process management, tourism, healthcare, education, construction, and professional services. The FTA also has provisions ensuring non-discriminatory environment for Filipino firms, including See “Trade,” A2

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‘WAIT-AND-SEE’ STANCE: FDI INFLOWS DIP TO $642M www.businessmirror.com.ph

Wednesday, January 14, 2026 Vol. 21 No. 94

P25.00 nationwide | 2 sections 20 pages | 7 DAYS A WEEK

By Reine Juvierre S. Alberto @reine_alberto

OREIGN direct investment (FDI) inflows into the Philippines plunged to $642 million in October 2025, as investors adopted a “wait-and-see” stance amid global trade risks and domestic political developments. Data from the Bangko Sentral ng Pilipinas (BSP) showed FDIs fell by 39.83 percent to $642 million in October 2025 from $1.067 billion in the same month a year ago. Still, October’s inflow was the highest in three months and more than double the $320 million recorded in September, which marked the lowest monthly level in five years. According to Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., the drop in FDIs was mainly due to foreign firms cut-

ting back on intercompany loans, which dragged down the headline figure even as equity inflows and reinvested earnings actually improved. “The flood‑control scandal added noise, but the data shows the bigger driver was corporate financing decisions, not politics,” Ravelas said. BSP data showed nonresidents’ net investments in debt instruments declined by 50.78 percent year-on-year to $437 million in October 2025 from $888 million. See “FDI,” A2

DBM VOWS TO PAY TAX PERKS OF CARS, RACE BENEFICIARIES By Samuel P. Medenilla

@sam_medenilla

HE Department of Budget and Management (DBM) gave assurances on Tuesday that the government will settle its unpaid tax perks with the two beneficiaries of Comprehensive Automotive Resurgence Strategy (CARS) and the Revitalizing the Automotive Industry for Competitiveness Enhancement (RACE) Program. DBM Acting Secretary Rolando U. Toledo made the assurance after President Ferdinand Marcos vetoed the unprogrammed appropriations (UA) for both programs of the Department of Trade and Industry (DTI) in the 2026 General Appropriations Act. Prior to the veto, CARS was supposed to get a P4.32-billion Fiscal Support Arrearages, while for RACE it was at P250 million from the government through the UA provision of the 2026 GAA. Mitsubishi Motors Philippines Corp (MMPC). and Toyota Mo-

tors Philippines (TMP), the two beneficiaries of both programs, which are meant to promote local cars assembly through tax incentives, expressed concern about the veto. “We’ll be having our meeting tomorrow with the DTI to look at how we can settle this account as far as our party which is the Toyota and the Mitsubishi,” Toledo said, partly in Filipino, in a press briefing in Malacañang on Tuesday. Toledo said the government is also currently waiting for the necessary Tax Payment Certificate (TPC) from both companies before it can settle the CARS and RACE arrears. “The TPC should be issued before they [are] paid. But at this time, they have only earned; but the TPC has not yet been issued,” Toledo said. The TPC is a non-transferrable certificate, which shall be used to defray the tax and duty obligations of the Philippine car manufacturer to the government. See “DBM,” A2

GOVT FAST-TRACKS CANCER CENTER CONSTRUCTION DPWH Secretary Vince Dizon inspects the ongoing construction of the 20-story Philippine Cancer Center hospital in Quezon City on

Tuesday, January 13, 2026. The facility is being built to house advanced cancer care technologies, including MRI units, a linear accelerator machine, positron emission tomography (PET) scan, a hybrid operating room, CyberKnife, and proton therapy systems. The inspection aligns with President Ferdinand Marcos Jr.’s directive to fast-track and complete pending government infrastructure projects— particularly hospitals—to ensure timely access to critical medical services for Filipinos in need. NONOY LACZA

Infraspend for ’26 down to 4.3% of GDP By Samuel P. Medenilla

@sam_medenilla

ESPITE the developments in the investigation on flood control projects resulting in the filing of charges against erring officials in previous months, government spending on infrastructure projects was reduced to 4.3 percent of gross domestic product this year, according to the Department of Budget and Management (DBM). This is below DBM’s initial projection of 5.1 percent in 2026, which is equivalent to P1.558 trillion. In a press briefing in Malacañang last Tuesday, Department of Budget and Management (DBM) Acting Secretary Rolando U. Toledo disclosed that they had scaled down the projection. “So we’re looking at achieving our

infrastructure target as a percentage of GDP at 4.3 percent, and even at the nominal level that is equivalent to 1.3 trillion [pesos] which is based on GAA [General Appropriations Act],” he said. The DBM chief said he is confident the target infrastructure spending this year will be met as the Marcos administration addresses gaps in ghost public works projects. Under the 2026 GAA, the Department of Public Works and Highways (DPWH) was reduced to P351 billion after the bicameral conference committee decided to cut its proposed P529.6 billion budget.

were riddled with billions worth or anomalies. The review of flood control projects has contributed to a slowdown in economic growth last year. With the crackdown on flood control project anomalies, Toledo said they expect the public works spending to increase in the coming months. “As much as possible, we want to increase further [public spending], moving forward in the medium term so we want to increase investment in terms of our infrastructure project,” he said.

Increased spending

IN another development, DBM also said it will set a 5 percent cap on unprogrammed appropriations (UA) for the proposed 2027 national budget. “From the Public Financial Man-

THE reduction in the proposed DPWH budget follows marked scrutiny of the agency after it was revealed its flood control projects

Unprogrammed appropriations cap

agement’s perspective we are following at least within 5 percent of the total program of the budget,” Toledo said. He said this was in line with international benchmarks and the country’s laws. Former Department of Budget and Management (DBM) Secretary Amenah F. Pangandaman has been pushing for institutionalizing the 5-percent cap on UA. President Ferdinand Marcos decided to veto P92 billion worth of unprogrammed appropriations in the P6.793-trillion 2026 GAA, which he said is being “misused or treated as a backdoor for discretionary spending.” Last week, DBM already called on heads of government departments and agencies to start their preparations for the 2027 national budget.

PESO EXCHANGE RATES n US 59.2410 n JAPAN 0.3746 n UK 79.7680 n HK 7.5987 n CHINA 8.4954 n SINGAPORE 46.0804 n AUSTRALIA 39.7507 n EU 69.1224 n KOREA 0.0404 n SAUDI ARABIA 15.7976 Source: BSP (January 13, 2026)

News

BusinessMirror

A2 Wednesday, January 14, 2026

DBM…

Continued from A1

To qualify for the tax incentive under CARS, automakers must reach the minimum volume target sales of 200,000 domestically produced models of automobiles, which were enrolled in the program, in six years. MMPC enrolled the Mirage G4 model for the program, while for Toyota, it was its Vios model. RACE is the updated version of CARS. MMPC and TMP said they are open to working with the government to address the issue.

PSA: ’25 palay farmgate price falls to ₧17.7 a kilo, a 3-yr low

T Passport… Continued from A12

mobility of the Philippine passport,” Moore said. The Henley Global Mobility Report is an annual publication that brings together commentary from leading academics and professional experts on the major and emerging trends in global and regional mobility. The report offers exclusive insight into mobility and migration patterns and looks on expectations in the coming months. Consultancy firm Henley and Partners, meanwhile, created the concept of residence and citizenship planning in the 1990s. As globalization has expanded, residence and citizenship have become topics of significant interest among the increasing number of internationally mobile entrepreneurs and investors whom we proudly serve every day.

www.businessmirror.com.ph

By Ada Pelonia @adapelonia

HE country’s farmgate price of palay fell to P17.7 per kilo in 2025, the lowest level in three years, according to data from the Philippine Statistics Authority (PSA). Figures from the PSA showed that the average farmgate price of dry unmilled rice declined by nearly a quarter to 24.6 percent, from P23.48 per kilo in 2024. Historical data from the state statistics agency indicated that this was the lowest recorded farmgate price since the P17.44 per kilo recorded in 2022. Calabarzon posted the fastest decline last year, with the average farmgate price slumping by 33.6 percent, according to PSA. Prices in the region averaged P14.14 per kilo in the reference year compared with the previous year’s P21.3 per kilo. This was followed by Ilocos Region, which recorded a 30.7-percent year-onyear contraction, as traders bought palay at P17.95 per kilo last year, from the P25.89 per kilo recorded in 2024.

Top rice-producing regions Central Luzon and Cagayan Valley also recorded annual declines in farmgate prices in 2025. The average price of unmilled rice in these regions stood at P17.13 per kilo from P24.07 per kilo and P16.48 per kilo from P23.66 per kilo, respectively. In 2025, the government rolled out a raft of interventions in its bid to raise the prices of paddy rice, which fell to a low of P8 per kilo in some areas. Among the interventions was the decision of President Ferdinand Marcos Jr. to extend the rice import ban until end-2025, as farmgate prices dropped from their previously gaining momentum when the import freeze neared its lifting in November. He initially suspended shipments of

rice for 60 days from September 1 until October 31 to arrest the sharp drop in palay prices ahead of the wet harvest season. Industry sources cited the unabated entry of imports as the reason behind the decline in farmgate prices. Furthermore, Marcos also issued Executive Orders (EO) 100 and EO 101, mandating the setting of a floor price for government procurement of unmilled rice and directing the full implementation of the Sagip Saka Act, respectively.

Total rice arrivals settled at 3.37 million metric tons (MMT) in 2025, a 30-percent drop yearon-year due to the ban slapped on foreign rice shipments. The government is eyeing to raise the tariffs levied on rice to 20 percent from the current 15 percent on January 16. The agriculture secretary, who also chairs the National Food Authority (NFA) Council, earlier said the grains agency plans to buy wet palay at P17 per kilo and dry palay at P21 per kilo during the dry harvest season.

Trade…

Working visit

Continued from A1

micro, small, and medium enterprises. “This improved business environment supports the expansion of Filipino service providers in the UAE and encourages the UAE firms to invest in the Philippines,” DTI noted. Meanwhile, the trade deal opens cooperation in priority areas such as digital trade, MSME, trade and sustainable development—covering the promotion and protection of labor and the environment—intellectual property rights protection and enforcement, competition and consumer protection, government procurement, and economic and technical cooperation.

Solar PHL… Continued from A12

that the DOE has. So, we’re also studying and evaluating the situation. We will file whatever cases we have to file, whether it’s civil, criminal, administrative, or if there’s any anti-competitive behavior, we will do so,” said the energy chief. This setback has prompted the DOE to craft a catch-up plan, but it assured the public that the RE targets –35 percent of RE in the power mix by 2030 and 50 percent by 2040—outlined in the Philippine Energy Plan (PEP) 20232050 will be achieved. “That’s immovable. The RE targets for 2030, 2040, and even 2050 for us are non-negotiable,” said Garin. Based on DOE data, the total number of relinquished RE contracts in 2024 and 2025 are 38 (2,331.94MW) and 42 (2,934.6MW), respectively. Terminated contracts during the period reached 32 (6,967.94MW)

MEANWHILE, PCO undersecretary and Palace Press Officer Claire Castro said the President is also expected to meet business leaders, including the officers of DAMAC Digital, a global digital infrastructure company, as part of the Chief Executive’s two-day working visit in Abu Dhabi. Castro added that during the said meeting, Marcos will push for the country’s business and technology interests. Before ending his visit, Marcos will also witness the signing of the Philippines-UAE Memorandum of Understanding on Defense Cooperation and meet with the Philippine community in the Middle East country. There are currently an estimated 900,000 Filipinos, who are staying in UAE.

in 2024 and 51 (5,669.54MW) in 2025. “We will fall short but we have enough time to make up for this,” said Garin. Moving forward, the DOE will make sure that it will not tolerate non-compliant power firms that secure contracts from the government. It is also eyeing additional sanctions. “We only want legitimate investors. We do not want fly-by-night investors or flippers. We want legitimate investors,” said Garin. Former Energy Undersecretary Atty. Jay Layug, who leads the Developers of Renewable Energy for AdvanceMent, Inc. (DREAM), said the DOE’s cancellation of nonmoving RE contracts for justifiable reasons is a good signal to serious investors. This, he added, shows DOE’s firm resolve to ensure that projects indeed are developed and areas are freed up for investors with financial capability. “Given the different markets made available for RE projects, there is no more reason for RESC [renewable energy service contract] holders not to pursue development of their projects. We hope the DOE moving forward should grant RESCs only to financially and technically qualified applicants,” he said via Viber. The DOE will include these terminated power generating capacities in future RE auctions.

‘Wait-andsee’ stance: FDI inflows dip to $642M Continued from A1

Net investments in debt instruments consist mainly of intercompany borrowing between foreign direct investors and their subsidiaries or affiliates in the Philippines. The remaining portion of net investments in debt instruments are investments made by nonresident subsidiaries or associates in their resident direct investors, such as reverse instrument. Meanwhile, investments in equity and investment fund shares saw a 14.52 percent increase to $205 million in October 2025 from $179 million a year earlier. Nonresidents’ net equity placements other than reinvestment of earnings also improved by 17 percent to $117 million from last year’s $100 million. Reinvestment of earnings went up by 11.39 percent to $88 million from $79 million a year ago. According to the BSP, the biggest source of FDIs in October was Japan, while corporations engaged in financial and insurance activities were the biggest recipients of FDIs during the month. Moreover, Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said higher US tariffs, trade wars and protectionist policies under the Trump administration dampened global trade and investments, while domestic political noise and disruptions caused by typhoons also weighed on investor sentiment. For the coming months, Ricafort sees improved governance standards and reforms helping improve international investor confidence and sentiment. “FDIs could improve in 2026 if anti-corruption measures and other reforms related to further improving governance standards are taken seriously, as these are also the basis for the catch up government spending to make up for the underspending in the latter part of 2025 due to the political noises largely attributed to the anomalous flood control projects,” Ricafort added. On a cumulative basis, FDI net inflows reached $6.179 billion in January to October, down by 24.49 percent from the $8.184 billion posted in the same period last year. During the 10-month period, equity capital placements were sourced primarily from Japan, the United States and Singapore. Industries that received most of these investments were manufacturing, wholesale and retail trade and real estate. Export-oriented industries would continue to find their way in the Philippines despite local political headwinds, according to Aris Dacanay, economist at HSBC Philippines, citing the country’s tariff advantage over China. “The Philippines still has the strongest demography. These investors are just in a wait-and-see environment,” Dacanay said, noting that the country is in a “critical juncture.” “Will the Philippines be able to enact the institutional reforms that it needs to show that we are in a rulesbased economy, that we are a highly attractive investment destination? Maybe next year. Let’s see what the administration will pull off in terms of policy,” he added. With $6.179 billion in FDIs already booked by October, Ravelas said meeting the BSP’s $7-billion target is “still within reach.” Strong capital from Japan, the US and Singapore, continued investments in manufacturing, retail, and real estate and clearer governance signals that reassure investors could support inflows, according to Ravelas. “If we stay focused on stability and reforms, the Philippines can keep pulling in long‑term capital despite the noise,” Ravelas said.

www.businessmirror.com.ph

Wednesday, January 14, 2026

PCG protects Filipino fishing vessel against Chinese harassment By Rex Anthony Naval

HE Coast Guard (PCG) on Tuesday said that its units swiftly intervened to protect a Filipino fishing vessel harassed by Chinese ships at Bajo de Masinloc, West Philippine Sea (WPS) on Monday, providing critical assistance and documenting the encounter. In a statement, the PCG said the incident took place noontime of January 12 and involved the fishing boat, FFB Prince LJ. Reports said the fishing craft was heading towards its fishing grounds west of Bajo de Masinloc off Zambales, when a People’s Liberation Army Navy vessel (PLAN-621) and a China Coast Guard (CCG) ship (CCGV-23521) closed to within 30 meters, blaring sirens and blocking the boat’s path about 16 nautical miles southeast of the shoal. T he fishing boat’s captain changed course to the southeast to evade the vessels but reported being closely trailed by the CCG ships. As this developed, PCG multirole response vessel, BRP Cape San Agustin (MRRV-4408), responded

promptly, rendezvousing with FFB Prince LJ around 3:48 p.m. The fishing boat’s captain boarded the PCG vessel shortly after 3:59 p.m., where he received medical attention and gave a full account of the aggressive maneuvers. PCG personnel captured photographs and video evidence of the Chinese vessels’ dangerous actions. “In a further act of support, the Coast Guard transferred 10 containers of diesel to the fishing boat, enabling it to proceed with its operations. The captain returned to his vessel by 5:02 p.m., and FFB Prince LJ resumed course toward its intended fishing area,” the PCG noted. Meanwhile, the PCG Commandant, Adm. Ronnie Gil Gavan, reaffirmed the agency’s firm commitment to protect Filipino fishermen and uphold their rights in Philippine waters. “The PCG remains steadfast in defending the safety and maritime rights of our fishermen, in full accordance with the United Nations Convention on the Law of the Sea [Unclos] and the 2016 Arbitral Award,” Gavan stated.

Nartatez orders internal review of PNP disciplinary system

HE acting National Police (PNP) Chief, Lt. Gen. Jose Melencio Nartatez Jr., on Tuesday ordered the review and internal monitoring of the force’s disciplinary systems following a recent shooting incident in Sibulan, Negros Oriental, on January 9 involving one of its active members. This, after a background investigation revealed that the suspect in the shooting, Staff Sgt. Bonifacio Saycon, had a previous administrative case on record for less grave neglect of duty after he allegedly failed to attend a court hearing in connection with a prior search warrant. “This is what we have been saying about the necessity of commanders regularly upholding strict discipline and acting decisively on any misconduct of any personnel under their direct supervision,” Nartatez said. He added that minor infractions in disciplinary mechanisms or any misconduct, no matter how small, must be immediately addressed to prevent any personnel from being involved in serious offenses. He said Saycon’s case is another reminder about the need to strengthen internal monitoring and disciplinary systems to ensure that personnel with prior administrative issues are closely supervised and, if necessary, removed from sensitive assignments.

Nartatez added that an immediate audit is necessary to identify gaps in tracking and enforcement of administrative cases within the ranks, and to make sure that sanctions and corrective measures are properly implemented. The PNP is currently reviewing how the suspect’s prior case was managed. Meanwhile, Nartatez took cognizance of the relief of the Negros Oriental police director Col. Criscente Tiguelo and the designation of Col. Lito Patay as the officer-in-charge. He explained that the relief is not punitive but a command decision based on accountability. Based on the initial investigation, Saycon had killed a woman inside a bar while drinking with three other officers, including the Sibulan police chief, Capt. Jose Edrohil Cimafranca. He later shot and killed Cimafranca and two other colleagues, Senior Master Sgt. Tristan Chua and Pat. Rey Albert Temblor, while being transported to the station. Motive remains unclear as Saycon refuses to speak but investigators noted the group’s severe intoxication. The Sibulan police station’s deputy chief was likewise relieved for filing an inaccurate report, stating in the police blotter that the three officers who were killed went to the bar following the woman’s shooting.

House leader set to file charges against legislator from Cavite By Jovee Marie N. dela Cruz @joveemarie

EPUTY Speaker Ronaldo V. Puno on Tuesday said legal action will be pursued in response to what he described as “baseless and malicious allegations” made by Cavite Rep. Francisco Barzaga against members of the National Unity Party (NUP) that he chairs.

Puno, in a statement, strongly denied claims circulating on social media and in public statements

that NUP lawmakers supposedly received bribes from a businessman to support speaker Ferdinand

Martin G. Romualdez in the 2025 elections, stressing that the accusations are illogical and unsupported by facts. “The Speaker [Romualdez] ran unopposed. There was no contest. To claim that bribes were paid in a situation where there was no contest at all defies logic,” Puno said. Puno confirmed that he will personally file cases against Barzaga, adding that other NUP members who were similarly implicated are also preparing their own legal actions. “He chose to malign all members of the NUP, a party once led by his own father and one that he himself joined. To turn around and accuse the NUP of criminal conduct, without evidence, shows a reckless and deeply irresponsible

contempt for the truth,” Puno said. “I will be filing cases against him,” Puno said. “Other NUP members who were similarly maligned will be filing their own cases as well.” He underscored that the matter will now be resolved through proper legal channels. “We will see him in court,” Puno added. The NUP said it stands firmly behind its members and will exhaust all available legal remedies to protect their rights and reputations. The party noted that Barzaga’s statements have compelled its members to seek accountability through proper legal channels. The NUP is currently the second-largest political party in the House of Representatives.

Restive Mayon emits molten lava, plumes M

AYON Volcano remains restive and continued to spit out molten lava and plumes on Monday, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. Located in Albay, Mayon is famous for having a near-perfect cone. It is Albay’s most famous tourist spot and continues to attract tourists during volcanic eruptions. Over the past 24 hours ending at 12 noon on Monday, volcanic activities at Mayon, one of the country’s active volcanoes, were characterized by the Phivolcs as “lava dome and lava flow effusion.” A lava dome forms when the erupting lava is too thick and sticky to flow away, while an effusive eruption occurs when lava flows steadily and relatively gently out of a volcano onto the ground. Lava domes are unstable, and if they collapse or if gas pressure builds up behind them like a cork,

they can cause explosions or hot rock avalanches. Phivolcs also reported a total of 206 events and 63 pyroclastic density currents (PDC), locally called “uson.” Phivolcs said that at 1:39 a.m. on “ incandescent shor t-lived fountaining” approximately 100 meters in height from the summit craterwas observed at Mayon. The event lasted approximately 35 seconds and was recorded by the monitoring cameras from the Mayon Volcano Observatory and the Mayon Resthouse Station. Phivolcs said it also continues to emit sulfur. As of Tuesday, it emitted 526 tons per day. Moderate emission of plumes reaching 1,000 meters above the crater was also observed. According to Phivolcs, the volcano edifice is still inf lated, indicating magmatic activity. Incandescent short-lived lava

Lawmaker welcomes hike in PDL’s food allowance

LAWMAKER on Tuesday welcomed the increase in the daily subsistence allowance of jail inmates to P100 under the 2026 national budget, calling it a long-overdue step toward more humane treatment of persons deprived of liberty (PDLs). Parañaque Rep. Brian Raymund Yamsuan, a former Department of the Interior and Local Government (DILG) official, said since 2019, the daily subsistence allowance had remained at P70, while the medicine allowance was pegged at P15. “Persons deprived of liberty should be treated humanely and with dignity and compassion. Anyone would say that P70 a day is severely inadequate to cover for their meals. We hope that this long-overdue increase will improve efforts of our jail officials in meeting the nutritional needs of PDLs,” said Yamsuan. “Given today’s food prices, one hundred pesos a day may still not be enough. But at least it’s a start. We will continue to push for humane living

Rex Anthony Naval

See “PDL,” A4

Legislator pushes bill promoting rights of stateless persons, refugees LEGISLATOR is pushing for the swift passage of a measure aimed at promoting and safeguarding the rights of refugees and stateless persons by clearly defining their legal status, rights, and obligations. House Deputy Minority Leader Leila M. de Lima filed House Bill 7062, or the Comprehensive Refugees and Stateless Persons Protection Act, which seeks to establish clear mechanisms and procedures to ensure a safe and protective environment for Persons of Concern (POC). The term “POC” collectively refers to refugees, asylum seekers, stateless

applicants, stateless persons, and populations at risk of statelessness. “For over a century, the Philippines has turned its rich tradition of hospitality and bayanihan into a lifeline, standing as a global beacon of hope and a reliable sanctuary for those fleeing the shadows of persecution and the isolation of statelessness,” Lima said. “By enacting the Comprehensive Refugees and Stateless Persons Protection Act, the Philippines reaffirms that the protection of the dignity of every human person is a non-negotiable State policy. We move from a tradition of hospitality

to a mandate of justice, ensuring that the ‘bayanihan’ we offer to the world is as enduring as the law itself,” she added. The Philippines is a State Party to key international instruments, including the 1951 United Nations Convention relating to the Status of Refugees and its 1967 Protocol, the 1954 Convention relating to the Status of Stateless Persons, the 1961 Convention on the Reduction of Statelessness, and the Global Compact on Refugees, which promotes self-reliance among displaced populations. See “Stateless,” A4

fountaining to approximately 100 meters height was observed at the summit crater of Mayon Volcano at 1:39 AM on 13 January 2026. The event lasted approximately 35 seconds and was recorded by monitoring cameras from the Mayon Volcano Observatory and the Mayon Resthouse Station. Alert Level 3 remains in effect over Mayon Volcano, and entry into the 6-km Permanent Danger Zone (PDZ) is strictly prohibited. Mayon remains under Alert Level 3 or intensified unrest. Meanwhile, a “calmer” Kanlaon Volcano was observed to emit ashes four times, ranging from 10 to 396 minutes long, a summary of the 24-hour observation at Kanlaon covering 12 a.m. Tuesday to 12 p.m. Wednesday revealed. Straddling the provinces of Negros Occidental and Negros Oriental, Kanlaon is under Alert Level 2 or Increased unrest.

Phivolcs said during the period, only two volcanic earthquakes were recorded. It emitted sulfur at an average of 1,502 tons per day. Ph ivolc s s a id volu m i nou s plu mes em it ted by K a n l aon reached up to 750 meters tall. Aside from Mayon and Kanlaon, Phivolcs is also monitoring Bulusan Volcano in the Province of Sorsogon and Taal Volcano in Batangas. Both volcanoes are under Alert Level 1 or low-level unrest. During the 24-hour observation at Kanlaon, Phivolcs recorded 2 volcanic earthquakes and 4 ash emissions, while a voluminous plume created 750 meters tall wall drifting southwest and westsouthwest. At Taal, 2 volcanic earthquakes, including one volcanic tremor 1,560 minutes long, were recorded on Tuesday. Jonathan L. Mayuga

Wednesday, January 14, 2026

DSWD warns vs fixers offering help on minors’ travel clearances

HE Department of Social Welfare and Development (DSWD) has warned the public against unauthorized individuals or groups offering assistance in processing travel clearance (TC) for minors traveling abroad (MTA). Through its Central Processing Office-Minors Traveling Abroad (CPO-MTA), the department reminded parents and guardians to remain vigilant against so-called “fixers” who claim they can facilitate or expedite the issuance of MTA travel clearances. Assistant Secretary Irene Dumlao, DSWD spokesperson, said that the fastest and most effective way to secure a travel clearance is to transact directly with the CPO-MTA and comply with the required documents. She noted that the process has already been streamlined and can now be completed online. The DSWD reiterated that it does not authorize any thirdparty agents to process applications on its behalf, warning that dealing with unauthorized individuals may expose applicants’ personal and sensitive information to risk. Dumlao also underscored the importance of following the proper procedure in securing travel clearance for minors. With the summer break approaching, the department advised parents and guardians to file applications at least 30 days before the scheduled departure to avoid delays, last-minute processing, and the risk of offloading owing to the absence of a DSWD-issued travel clearance or certificate of exemption. The DSWD expects a surge in travel clearance applications during the summer vacation period and urged the public to apply early. To help speed up processing, applicants are encouraged to complete the required forms in advance. Standardized templates for MTA requirements are available at tinyurl.com/ MTATempForms. Applications must be submitted through the MTA Online System at https://mta.dswd.gov.ph/ or via the eGov PH mobile application. Jovee Marie N. dela Cruz

BARMM enacts labor code By Manuel T. Cayon @awimailbox

AVAO CITY—The Bangsamoro autonomous regional government has enacted the Bangsamoro Labor and Employment Code (BLEC) of 2025 last month, a belated report from the region said. The code was marked Autonomy Act 82 and it was signed into law on December 16 in Cotabato City, the seat of the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM). Interim Chief Minister Abdulraof Macacua lauded the Bangsamoro Parliament for the approval of the law. “I acknowledge the Bangsamoro Parliament for bringing this work to completion. This is how governance earns trust, by being clear in purpose, firm in action, and accountable in results.” He also emphasized the importance of implementing the law. “This signing is nothing if it is not implemented,” he added. The Bangsamoro leadership said the code should strengthen workers’ protection and promote fair employment across the region. The Bangsamoro Information Office said the law “seeks to balance labor and management relations, ensuring that

development and productivity do not come at the expense of workers’ welfare.” It sets standards for fair wages, safer workplaces, and stronger labor protections, recognizing Bangsamoro workers as key drivers of regional economic growth. “It is a manifestation of our aspiration to build a just and humane society where labor is valued, protected, and empowered,” said Bangsamoro Transition Authorit y (BTA) Parliament Speaker Mohammad Yacob. Member of Parliament Romeo Sema, the principal author of the Code, said labor is central to the growth of the region. “Labor is at the heart of nation-building. Every worker, every employer, every enterprise contributes to the growth of our region,” he stressed. Sema noted that previous labor frameworks did not fully reflect the region’s realities, culture, and aspirations. To him the BLEC was crafted “to address this gap by protecting workers’ rights, promoting productive employment, balancing labor-management relations, upholding Bangsamoro culture and Islamic values, and ensuring that economic growth and development do not come at the expense of workers, so that productivity and protection move forward together.

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Philippine rice samples stored in Arctic vault By Ada Pelonia

@adapelonia

ORE than 4,000 rice samples from the Philippines were stored in an Arctic vault as part of efforts to protect the country’s rice genetic diversity amid persistent threats from weather-related shocks. The Philippine Rice Research Institute (PhilRice) said the deposit stored in the Svalbard Global Seed Vault in Norway covered 4,417 rice seed samples, which the Department of Agriculture’s (DA) research arm developed and conserved. This marked the first time in four decades that Philippine rice seed duplicates have been stored outside its borders, PhilRice said. For Jonathan Niones, head of PhilRice’s Genetic Resources Division (GRD), storing the country’s rice samples signals the crucial need for conservation. “This deposit highlights the critical role of seed duplication for long-term conservation,” Niones was quoted in the statement as saying. “By storing identical seed samples in secure, distant locations like the Svalbard Vault, we safeguard our genetic heritage against

irreversible loss due to natural or human-induced disasters, and other unforeseen threats,” he added. The Philippine collection includes rice varieties nationwide, including heirloom types such as Dinorado and Milagrosa, which are valued by farmers for their distinct aroma, soft texture, and cultural significance. A second batch of seeds, consisting of newly collected and unique accessions, is planned for future deposit, PhilRice added. F u r t h e r mo r e , t h e a g e n c y noted that additional safety duplicates will also be stored at its branch stations and with partner institutions in neighboring Asian countries. Often dubbed the “Doomsday Vault,” PhilRice said the facility is “carved into a mountain within the Arctic Circle as a global back up storage site for crop seeds.”

It is managed by the Crop Trust to ensure long-term availability of plant genetic resources in case national or regional seed collections are lost, the agency added.

Expand production

EARLIER, the DA has urged PhilRice to ramp up seed production of the award-winning rice variety Dinorado to increase local supply and raise farmers’ income. Agriculture Secretary Francisco Tiu Laurel Jr. made the pronouncement after Mabango 3, commercially known as Dinorado, bagged the silver award at the recent 2025 World’s Best Rice competition. He noted that the Dinorado yield could reach eight metric tons (MT) when grown on irrigated land, higher than the national average yield per hectare of 4.17 MT. However, Tiu Laurel said that only 3 percent of the Dinorado rice variety is being distributed by the DA under the Rice Competitiveness Enhancement Fund (Rcef). He added that the DA is targeting that the majority of the seeds to be distributed under the Rcef program to be Dinorado by the end of 2027. The locally developed rice variety, NSIC Rc218 or Mabango 3, was bred by a team led by Thelma Padolina and Emily Arocena, which was approved by the National Seed Industry Council in 2009 as a premium rice variety.

₧2-M processing center to boost peanut production in Ilocos Norte By Jonathan L. Mayuga @jonlmayuga

HE Department of Agrarian Reform (DAR), in partnership with the local government (LGU) and the Buanga Agrarian Reform Cooperative (ARC), has turned over a P2-million peanut processing center to a group of agrarian reform beneficiaries (ARBs) to boost production in Pinili, Ilocos Norte. Funded under DAR’s VillageLevel Farm-Focused Enterprise Development (VLFED) Program, the modern processing facility will benefit members of the Dalaya Agrarian Reform Community (ARC). The processing center is considered a step toward higher incomes and sustainable livelihoods for the group’s members, as it strengthens the cooperative’s peanut-based food enterprise by enabling value-added production, improving product quality, and expanding

market opportunities. T he proje c t w a s re a l i z e d through a public-private partnership, with P1.5 million from the local government of Pinili, P400,000 from DAR, and P100,000 from the Buanga ARC, demonstrating strong collaboration to uplift local farmers. Designed as a centralized processing hub, the facility will benefit 142 men and women ARBs, allowing them to efficiently produce market-ready products such as peanut butter, adobo peanuts, and sugar-coated peanuts. By addressing long-standing gaps in post-harvest facilities and processing capacity, the center empowers the cooperative to reduce losses, increase productivity, and generate higher and more stable incomes. “ T his processing center is more than infrastructure—it is a pathway to economic growth for our ARBs,” said DAR Regional

Director Maria Ana Francisco. “With the right facilities in place, farmers can move beyond raw production, reach bigger markets, and secure better livelihoods for their families.” She added that the processing center reflects what communities can achieve through unity and shared commitment. “This is only the beginning. Greater opportunities await, and we believe the cooperative is ready to take them on. DAR remains committed to helping every ARB increase income and improve family wellbeing,” Francisco said. Buanga Agrarian Reform Cooperative Chairperson Concepcion U. Felipe welcomed the project, calling it a long-awaited breakthrough for members. “With this center, we can finally produce peanut butter and other products that consumers are looking for. This is truly a dream come true for our families,” she said.

Bataan ready for global semiconductor, electronics investors

HE local government of Bataan and the Board of Investments (BOI) are joining forces to develop a “strong” semiconductor and electronics ecosystem

in the province. In a statement, BOI Managing Head Ceferino S. Rodolfo underscored that the semiconductor and electronics sector

accounts for more than half of the country’s merchandise expor ts and “remains a cornerstone” of the country’s industrial strategy. In line with this, he pointed out that Bataan’s “proactive approach and strong fundamentals” make it an attractive destination for global players. Maria Angela Garcia, Representative of Bataan’s Third District, underscored the province’s “readiness” to welcome investors. “Bataan is prepared to provide the infrastructure, policies, and partnerships needed to support high-value industries. We are committed to creating an environment w h e re b u s i n e s s e s c a n t h r i ve a n d communities can benefit from sustainable growth,” the lawmaker said. See “Bataan,” A8

PDL. . . Continued from A3

conditions for our PDLs, which is a key element in fueling their rehabilitation,” he added. The Legislative Bicameral Conference Committee (Bicam) that deliberated on the proposed 2026 General Appropriations Bill approved the increase in the subsistence allowance to P100 per day, along with a modest hike in the medicine allowance to P20 daily. The adjusted rates will apply to PDLs held in jails supervised by the Bureau of Jail Management and Penology (BJMP), an attached agency of the DILG, as well as those confined in penal facilities managed by the Bureau of Corrections under the Department of Justice (DOJ). As a member of the Bicam, Yamsuan lamented that limited fiscal space under the 2026 budget prevented a more substantial increase in the medicine allowance. He said a P20 daily medicine allocation remains “grossly inadequate,” par ticularly in overcrowded and poorly maintained BJMP jails that are serviced by only a small number of medical personnel. “We will advocate for an increase in the medicine allowance of PDLs in the national budget for the next fiscal year,”Yamsuan said. Yamsuan also raised concern over the absence of funding for the rehabilitation of BJMP-supervised jails in the 2026 budget, which he said could have supported the bureau’s decongestion efforts. He pointed out that the approved increases were based on an assumed BJMP jail population of 141,843 PDLs for 2026— significantly lower than the 182,556 assumed detainees in 2025. “We are all aware of the congestion rate in our jails and the conditions of our PDLs. The BJMP should step up efforts to decongest its jail facilities this year to keep PDLs within the number assumed under the 2026 budget to ensure that the P100 daily subsistence allowance would fully benefit each detainee under its care,” Yamsuan said. Latest available data show that congestion in BJMP jails eased slightly, from 296 percent in May 2025 to 286 percent in September 2025. BJMP records as of July 2025 placed the total number of PDLs under its supervision at 115,065. BJMP data as of July 2025 placed the total number of PDLs under its supervision at 115,065 inmates. Jovee Marie N. dela Cruz

Stateless. . . Continued from A3

“Despite these commitments, our current protections rely on fragmented administrative orders and circulars. Consistent with Section 2, Article II of the 1987 Constitution, which adopts the generally accepted principles of international law as part of the law of the land, there is a vital need to codify these principles into a comprehensive law,” the lawmaker said. HB 7062 proposes the creation of a Refugees and Stateless Persons Protection Office (RSPPO), an independent and autonomous body to be attached to the Department of Justice (DOJ). The RSPPO will centralize and professionalize the identification, determination, and protection of POC, ensuring fair and efficient proceedings. The measure also institutionalizes key procedural safeguards to prevent further harm or victimization. These include the principle of non-refoulement, which prohibits the return of individuals to countries where they face persecution; alternatives to detention, affirming that POC should not be detained solely because of their status and encouraging community-based arrangements; and the suspensive effect, which automatically stays deportation or exclusion proceedings upon the filing of an application. In addition, HB 7062 seeks to uphold the rights of refugees and stateless persons to work, access education, and receive free legal assistance. In May 2015, during her tenure as Justice secretary, de Lima also proposed deploying ships to rescue around 3,000 Rohingya refugees at sea and provide them temporary shelter in the country as a humanitarian response to avert a regional crisis. “By reintroducing and refining this measure in the current Congress, we signal to the international community that our commitment to human rights is not a fleeting political trend but a core precept of our national identity and a priority that transcends successive legislative terms,” de Lima said. Jovee Marie N. dela Cruz

Wednesday, January 14, 2026

Marcos orders extradition talks with Portugal for Zaldy Co; govt closes in on Roque, Bantag By Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand Marcos has ordered concerned government agencies to initiate extradition talks with Portugal for the possible repatriation of fugitive former Ako Bicol Party list representative Elizaldy “Zaldy” Co, who was reported to be in the European country, according to the Department of the Interior and Local Government (DILG).

DENR orders rapid appraisal, action on Binaliw trash slide

It also reported that authorities are now also closing in on former presidential spokesperson Harry Roque, and former Bureau of Corrections director general Gerald Bantag. “The President instructed [us] to study the possibility of applying for extradition of Zaldy Co with Portugal. We are studying this because we still have no extradition treaty [with Portugal,” DILG Secretary Juanito Victor “Jonvic” C. Remulla said in an online interview.

E PA RT M E N T of Environment and Natural Resources (DENR) Secretar y Raphael P. Lotilla has directed the Environmental Management Bureau (EMB) and DENR Region VII to conduct a rapid appraisal and ensure coordinated actions to contain and ensure safety in the sanitary landfill in Barangay Binaliw, Cebu City. At the same time, the DENR chief directed the top officials in the DENR’s field offices in Cebu to develop long-term, resilient solutions for Cebu’s solid waste management system. Lotilla issued the directive as the death toll in the tragic trash slide last January 8 rose to 11 as of January 13, with at least 18 others reported missing. He wants the DENR Region 7 and EMB to strengthen the collective efforts of the DENR7 team on the the conduct of rapid appraisal that would include the Mines and Geosciences Bureau Region VII (MGB-7) and Prime Integrated Waste Solutions, Inc. with waste management exper ts for the needed engineering measures based on the Environmental Management Plan and the formulation of a rehabilitation plan to assess waste pile stability, drainage conditions, and site-specific geotechnical risks. The DENR chief wants waste services to continue using alternative disposal sites for Cebu City and neighboring local government units (LGUs) to ensure uninterrupted waste collection and public health protection in the short term while rapid site assessments of proposed alternative facilities are undertaken by composite technical teams. Situated in the uphill Barangay Binaliw in Cebu City, the sanitary landfill is approximately 15 hectares and serves the waste disposal needs of the highly urbanized Cebu City and nearby cities of Lapu-Lapu and Mandaue, which have a combined population of 2,068,000 based on the United Nations World Urbanized 2026 projections. The combined daily garbage production of the three cities is approximately 1,300 to 1,400 tons per day. According to Lotilla, he expects a comprehensive assessment of the sanitary landfill facility to identify structural and operational deficiencies and provide recommendations for reconstruction and safer operations, including evaluation of slope stability, leachate management systems, and compliance with approved landfill design and safeguards, and develop alternative, long-term solid waste management options for Cebu including revisiting policy on design of sanitary landfill and relevant policies on environmental safeguards and reviewing local government solid waste management plans to address system-wide capacity and resilience challenges. “Solid waste management is a combination of environmental, engineering, and governance challenges that demand comprehensive, long-term, and equitable solutions,” Lotilla added. See “DENR,” A9

national Criminal Police Organization (Interpol) to verify if Co is in Portugal. Citing their initial reports, he said the former lawmaker was spotted in Portugal and has a Portuguese passport. His Philippine passport was already cancelled by the DFA last year. Co is still abroad after undergoing a medical treatment in the United States earlier last year. Aside from Portugal, DILG said Co also travelled to France, Spain,

Alcantara denies recanting, seeks WPP coverage at DOJ amid license revocation By Joel R. San Juan @jrsanjuan1573

By Jonathan L. Mayuga @jonlmayuga

While the negotiations to be led by the Department of Foreign Affairs (DFA) for the extradition treaty is still ongoing, Remulla explained they will consider other venues to bring Co home. “A treaty takes years and years so the other possible avenues are being studied on how we can implement the extradition without it passing through a treaty,” Remulla said. The DILG chief said they are also coordinating with the Inter-

& Justine Xyrah Garcia

ORMER Bulacan 1st District Engineering Office Engineer of the Department of Public Works and Highways (DPWH) Henry Alcantara visited the Department of Justice (DOJ), a day after denying reports that he has recanted his sworn statements implicating several lawmakers in the corruption scandal involving flood control projects of the government. DOJ spokesman Polo Martinez confirmed that Alcantara arrived at the DOJ to discuss matters relating to his possible coverage under the Witness Protection Program (WPP). “He was here for a matter with the WPP. That’s all I can say given the confidentiality of the proceedings,” Martinez told reporters. Alcantara, through his counsel, lawyer Emil Karlo Joven, issued a statement on Monday branding news reports about his client’s alleged recantation as “false and misleading.” Joven assured that his Alcantara committed to helping the justice department to hold those accountable for the flood control scandal. “For the consideration of the public, Engr. Alcantara entered into a Memorandum of Agreement with the Department of Justice as a prerequisite for his regular admission to the Witness Protection, Security and Benefit Program, and is steadfastly committed to cooperating with the Department of Justice,” Joven said. “Engr. Alcantara remains pledged

to fulfilling his obligations under the Memorandum of Agreement to assist authorities in the pursuit of truth and accountability,” he added. Joven stressed that they would leave it up to the DOJ panel of prosecutors to evaluate his statements as well as the other parties in the cases. It may be recalled that Alcantara has complied with the DOJ’s demand for return of the money he allegedly pocketed from flood control projects as a condition for his inclusion in the WPP. He has so far returned P181. 37 million to the DOJ out of the P300 million he earlier committed to return. During his testimony before the Senate, Alcantara named former senator Ramon “Bong” Revilla Jr., Senator Jinggoy Estrada and former Caloocan Rep. Mitch Cajayon-Uy as among those who received kickbacks from government projects. Alcantra also implicated Commission on Audit Commissioner Mario Lipana and his wife-contractor Marilou in the flood control mess. Based on his sworn affidavit, Alcantara claimed that Lipana asked for a list of flood control projects in Bulacan in 2022 and inserted projects amounting to P500 million in 2023, P400 million in 2024, and P500 million in 2025.

Unprofessional and unethical conduct

THE Professional Regulatory Commission (PRC) has revoked the civil engineering license of Alcantara after administrative proceedings found him liable for gross unprofessional

and unethical conduct tied to the processing of payments for non-existent infrastructure projects. In a statement, the Professional Regulatory Board of Civil Engineering (PRBCE) said the ruling was based on the final findings of the Department of Public Works and Highways (DPWH), which completed its own administrative case under DPWH Administrative Case No. OSEC-04-2025. The DPWH’s Special Audit Report found Alcantara, in his former capacity as District Engineer in Bulacan Officer-in-Charge and Assistant Regional Director in Region IV-A, administratively liable for disbursing public funds for “ghost” projects that were not implemented in the field. The PRB-CE reviewed the audit and decision and said it “gave primary weight to the DPWH’s Special Audit Report and Decision.” “The Board established that Engineer Alcantara willfully approved payments for these ghost projects, an act that constitutes a severe breach of the Code of Ethics for Civil Engineers and a betrayal of public trust,” the PRB-CE stated. Under the rules, Alcantara may file a Motion for Reconsideration with the Board within fifteen days from receipt of the decision. If the motion is denied, the respondent may file a notice of appeal before the PRC Commission Proper within fifteen days from receipt of the resolution. “This decision reaffirms the PRC’s steadfast mandate to enforce the highest standards of professionalism, integrity, and accountability among all licensed professionals,” the board also said.

Discaya, et al pleads not guilty for graft, malversation over ₧96.5-M ‘ghost’ flood control project in DavOc

ONTRACTOR Sarah Discaya and several others on Tuesday pleaded not guilty in the graft and malversation case filed before a special court in Lapu-Lapu City in connection with the P96.5 million “ghost” flood control project in Davao Occidental. Discaya was arraigned together with her co-accused Maria Roma Rimando, president of Discaya-owned St. Timothy Construction, and eight officials of the Department of Public Works and Highways (DPWH). They are facing trial for violations of Section 3(e) of Republic Act No. 3019, the

Anti-Graft and Corrupt Practices Act, Article 217 in relation to Article 171 and 172 of the Revised Penal Code on malversation of public funds through falsification of public documents. The project was awarded to STTC on January 22, 2022 and declared completed on October 2, 2022. It was discovered that the project was never implemented despite the release of funds, resulting in the alleged misuse of government money amounting to P96.5 million Lawyer Cornelio Samaniego III, the spokesperson of the Discayas and counsel of Rimando, confirmed that the respondents

entered a plea of not guilty of the charges during their arraignment before the LapuLapu Regional Trial Court Branch 27. Samaniego added that following the arraignment, the court set the marking of exhibits before the branch clerk of court on January 27 and the pre-trial proper on February 3. Rimando’s camp would also seek her temporary release through a petition for bail which would be filed within 10 days. The lawyer said a motion to conduct joint ocular inspection of said subject “ghost” flood control project will also be filed within 10 days. Joel R. San Juan

March 30 polls in Bangsamoro remain in limbo–Comelec

HETHER the Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) will push through with its first parliamentary polls on March 30 remains uncertain, the Commission on Elections (Comelec) said. This comes after the Bangsamoro Transition Authority (BTA) announced on Tuesday that it has passed on third and final reading a new bill apportioning the region’s 32 district representative seats. Comelec Chairman George Erwin M. Garcia said that while this development

is commendable, it remains well past the deadline set by the Supreme Court. Garcia noted that the Court clearly stressed that no redistricting should occur within 120 days before the elections. “We are now confronted with strong legal and operational issues as to whether the conduct of the first Bangsamoro parliamentary election is still feasible by March 30. Since there is no law yet fixing the date of the election, at this point, the same is still a question mark,” Garcia said in a text message.

He, however, acknowledged the BTA’s move as a “giant step” toward holding the region’s parliamentary elections. “Of course, it has to still be signed by the Chief Minister and to hurdle the effectivity clause. Overall, our hope is eternal,” Garcia added. Under Parliament Bill No. 415, the 32 district representative seats will be allocated as follows: Lanao del Sur 9; Maguindanao del Norte 5; Maguindanao See “Comelec,” A9

Singapore, and Japan. He refused to return home due to the alleged threat to his life as he faces malversation of public funds and graft charges for his supposed involvement in the P289.5-million road dike project anomaly in Oriental Mindoro. Remulla said Roque, who is currently facing charges related to alleged illegal Philippine Offshore Gaming Operators (POGO) activities in Pampanga, is expected to return soon after his Philippine

passport was cancelled last year. As for Bantag, who was tagged as the mastermind in the killing of radio broadcaster Percieval Mabasa in 2022 was tracked by authorities in the Cordillera region. “We are closing in on him,” Remulla in Filipino in a press briefing in Malacañang last Tuesday. The DILG chief gave the updates when asked how the Philippine National Police is using its intelligence funds to track high value targets.

41 Chinese ships spotted in four WPS features By Rex Anthony Naval

RANKING Philippine Navy (PN) official on Tuesday said that a total of 41 assorted Chinese ships were detected in four critical features of the West Philippine Sea (WPS) during the first week of 2026. PN spokesperson for the WPS Rear Admiral Roy Vincent Trinidad said the vessels came from China’s People’s Liberation Army Navy (PLAN), Chinese Coast Guard (CCG), and Maritime Militia.

In Bajo de Masinloc, Trinidad said they detected eight Chinese vessels—two PLAN ships, three CCG vessels, and three Maritime Militia. In Ayungin Shoal, no PLAN ships were spotted, but six CCG vessels and eight Maritime Militia were sighted, for a total of 14. Escoda Shoal had 13 vessels, including three PLAN ships, six CCG vessels, and four Maritime Militia boats, while Pag-asa Island waters recorded six vessels which consisted of four CCG ships and two Maritime Militia.

Think tank urges DPWH to pair Andaya Highway rehab with long‑delayed Bicol rail network By Rizal Raoul Reyes

SIDE from rehabilitating the Rolando Andaya Highway, the head of a major think tank on Tuesday urged Department of Public Works and Highways (DPWH) Secretary Vivencio “Vince” Dizon to also build a railroad network to facilitate the faster movement of goods and other products, and enhance the movement of people from Bicol to Visayas and Mindanao. In his article posted in the company’s website, Salceda Research chairperson Jose “Joey” Sarte Salceda said he supports Dizon in fixing the Andaya Highway because of his previous accomplishments in the Department of Transportation (DOTr). Nevertheless, he said Dizon is into a herculean undertaking. “The Ragay corridor is difficult terrain. Bureau of Soils data shows 32 percent of the area has highly acidic soil, which accelerates concrete degradation. These are real engineering problems,” Salceda said.

An overburdened highway

ACCORDING to Salceda, the highway carries 5,000 vehicles a day under normal conditions. During December, it doubled to 10,000, according to the Bicol regional office of the Land Transportation Office. Never theless, the DPWH’s highest design category is for roads exceeding 2,000 vehicles per day. “Andaya Highway operates at multiples of that ceiling. No road survives such abuse indefinitely, whatever the soil conditions,” Salceda pointed out. Aside from the Maharlika Highway, Salceda said it is only the Andaya Highway that serves as the land connection between the industrial heartland of Luzon and half the archipelago. Salceda said the manufacturing output of Cavite, Laguna, Batangas, Rizal, and Quezon (CALABARZON) worth P1.33 trillion in 2024 heading passed either Maharlika or Andaya Highway. “There is no rail. There is no expressway. Two highways [still with two lanes in several sections] serve as the land connection between the industrial heartland of Luzon and half the archipelago,” he said. “Bicol is not the endpoint. It is the land bridge. From Matnog, ferries cross to Northern Samar. The road continues through Eastern Visayas into Mindanao. The corridor

serves not six million Bicolanos but 37 million Filipinos,” he said. A gargantuan undertaking “Tough work ahead for Vince Dizon, but he is one of very few people who can get this right,” said Salceda. “Dizon can improve the Andaya Highway. I believe he will. Dizon was also transport secretary. So, he knows that the long-term solution is rail, and he worked hard towards this before being appointed to head DPWH. If you want trucks off the road, you need rail. There is no other way to move that volume of freight without destroying whatever road you build,” Salceda explained. Salceda added that the government cannot move the volume of freight required by a modernizing Philippines on rubber tires alone without destroying the pavement. Before moving to DPWH, he said Dizon successfully engaged French interest in funding the Bicol rail line after the “stateto-state ghosting” we experienced with previous funders. When he was the chairperson of the Bicol Regional Development Council, Salceda said his team worked very hard to get the PNR South funded. Nonetheless, just when the office was about to get it done. Salceda said some functionaries in the Asian Development Bank proposed to split the Manila to Calamba route and the Bicol route because the former was more “financeable.” China was tapped instead to finance the economically less viable segment to Bicol. “We only got as far as signing the accords for the Project Management Consultancy, but China backed out of the agreement around June 2022 [or so the official narrative goes], in a case of state-to-state ghosting,” he said. “With our relations strained, we had to look for new funders. Prior to helming DPWH, Secretary Dizon was able to get France interested in funding it,” Salceda added. He said the South Luzon Expressway (SLEX) Toll Road 5 will help in lessening the congestion when it becomes operational either in 2028 or 2030. A coastal road between the about-to-be-proclaimed Bicol Ecozone in Pantao, Libon to Quezon via the port and oil depot in Pasacao will divert some of the freight traffic. Salceda said the DPWH funded a See “DPWH,” A9

Wednesday, January 14, 2026

TheWorld

Editor: Angel R. Calso

Iran allows limited international calls amid protest crackdown; death toll mounts, US raises pressure By Jon Gambrell

The Associated Press

UBAI, United Arab Emirates—Iranians could call abroad on mobile phones Tuesday for the first time since communications were halted during a crackdown on nationwide protests in which activists said at least 646 people have been killed. Several people in Tehran were able to call The Associated Press and speak to a journalist there. The AP bureau in Dubai, United Arab Emirates, was unable to call those numbers back. The witnesses said SMS text messaging still was down

and that Internet users in Iran could connect to government-approved websites locally but nothing abroad. The witnesses gave a brief glimpse into life on the streets of the Iranian capital over the four and a half days of being cut off from the world. They described seeing a heavy security presence in central Tehran. Anti-riot police officers, wearing helmets and body armor, carried batons, shields, shotguns and tear gas launchers. They stood watch at major intersections. Nearby, the witnesses saw members of the Revolutionary

Guard’s all-volunteer Basij force, who similarly carried firearms and batons. Security officials in plainclothes were visible in public spaces as well. Several banks and government offices were burned during the unrest, they said. ATMs had been smashed and banks struggled to complete transactions without the internet, the witnesses added. However, shops were open, though there was little foot traffic in the capital. Tehran’s Grand Bazaar, where the demonstrations began Dec. 28, was to open Tuesday. However, a witness described speaking to multiple shopkeepers who said the security forces ordered them to reopen no matter what. Iranian state media had not acknowledged that order. The witnesses spoke on condition of anonymity for fear of reprisal.

Iran says it communicated with Washington

US President Donald Trump has said Iran wants to negotiate with Washington after his threat to strike the Islamic Republic over its crackdown. Iranian Foreign Minister Abbas Araghchi, speaking to the Qatarfunded satellite news network Al Jazeera in an interview aired Monday night, said he continued to communicate with US envoy Steve Witkoff. The communication “continued before and after the protests and are still ongoing,” Araghchi said. However, “Washington’s proposed ideas and threats against our country are incompatible.” White House press secretary Karoline Leavitt said Iran’s public rhetoric diverges from the private messaging the administration has received from Tehran in

recent days. “I think the president has an interest in exploring those messages,” Leavitt said. “However, with that said, the president has shown he’s unafraid to use military options if and when he deems necessary, and nobody knows that better than Iran.” Meanwhile, pro-government demonstrators f looded t he streets Monday in support of the theocracy, a show of force after days of protests directly challenging the rule of 86-year-old Supreme Leader Ayatollah Ali Khamenei. Iranian state television aired chants from the crowd, which appeared to number in the tens of thousands, who shouted “Death to America!” and “Death to Israel!” Others cried out, “Death to the enemies of God!” Iran’s attorney general has warned that anyone

taking part in protests will be considered an “enemy of God,” a death-penalty charge.

Trump imposes tariffs on Iran trading partners

TRUMP announced Monday that countries doing business with Iran will face 25% tariffs from the United States. Trump announced the tariffs in a social media posting, saying they would be “effective immediately.” It was action against Iran for the protest crackdown from Trump, who believes exacting tariffs can be a useful tool in prodding friends and foes on the global stage to bend to his will. Brazil, China, Russia, Turkey and the United Arab Emirates are among economies that do business with Tehran. See “Iran,” A7

www.businessmirror.com.ph

TheWorld

Wednesday, January 14, 2026

Former Apple Daily executives plead for lighter sentences in landmark national security case By Kanis Leung

The Associated Press

ONG KONG—Former executives of a now-defunct, pro-democracy newspaper in Hong Kong who were convicted under a national security law pleaded for lighter sentences Tuesday in a landmark case widely seen as a barometer of media freedom in a city once hailed as a bastion of free press in Asia. The former journalists pleaded guilty in 2022 to conspiracy to collude with foreign forces to endanger national security. They admitted to the prosecution’s charge that said they conspired with their ex-boss and onetime media mogul Jimmy Lai to request foreign sanctions, blockades or engage in other hostile activities against Hong Kong or China. Lai, the Apple Daily founder who pleaded not guilty in the case, was convicted in December. The verdict raised concerns about the city’s declining press freedom and drew criticism from foreign governments. But the government insists the case has nothing to do with media freedom, saying the defendants

used news reporting as a pretext for years to commit acts that harmed China and Hong Kong. Their sentences are expected to be handed down at a later date.

Defendants ask for a sentence reduction

SIX Apple Daily executives were convicted in Lai’s case: publisher Cheung Kim-hung; associate publisher Chan Pui-man; editorin-chief Ryan Law; executive editor-in-chief Lam Man-chung; executive editor-in-chief responsible for English news Fung Waikong; and editorial writer Yeung Ching-kee. Some of them served as prosecution witnesses during the 156-day trial. A conviction on the collusion charge carries a sentence ranging from three years to life in prison. But a guilty plea can result in a sentence reduction. Under the security law, a reduced penalty may be granted to those who report on offenses committed by others. Chan’s lawyer, Marco Li, said if the judges decided to place his client in the upper sentencing band, he suggested the starting point should be 10 years, given her limited role. Citing factors including

her timely plea and assistance to the prosecution, he asked for her sentence to be halved. Li said Chan, who started working at Apple Daily in 1996, regretted not resisting even more firmly when matters arose that made her uncomfortable. But according to her mitigation letter, Chan couldn’t leave her beloved job casually at that time because she was suffering serious health issues and was under financial burden. Chung Pui-kuen, Chan’s husband and a former top editor of the now-shuttered Stand News, was among those in the public gallery. He was sentenced to 21 months in jail in a separate sedition case.

Apple Daily closure dealt a blow to Hong Kong press scene

LAI founded Apple Daily in 1995, two years before Hong Kong, a former British colony, returned to Chinese rule. It attracted a strong following with its sometimes sensational reports, investigative scoops and eventual short animated video reports. Being openly critical of the Hong Kong and Chinese governments, the newspaper was well-received among pro-democracy readers.

During Hong Kong’s massive anti-government protests in 2019, Apple Daily ran articles sympathetic to protesters and supportive of the pro-democracy movement that saw hundreds of thousands of people take to the streets. After Beijing imposed the security law to quell the protests, Lai was one of the first prominent figures to be arrested. Within a year, Apple Daily’s former executives also were arrested. The prosecutions, asset freeze and police raids forced the newspaper’s closure in June 2021. Its final edition sold a million copies. In their December verdict, the three government-appointed judges said Lai had used Apple Daily as a platform for spreading his political ideas and implementing his political agenda before and after the introduction of the security law. The judges on Monday heard arguments about the sentencing of Lai, Cheung and two other nonApple Daily activists involved in the former publisher’s case. When Lai entered the courtroom Tuesday, he smiled at people sitting in the public gallery as a supporter formed a heart shape with her hands.

Trump risks upending US-China trade truce with Iran tariff vow By Bloomberg News

RESIDENT Donald Trump’s announcement of new tariffs on goods from countries trading with Iran could upset the US’s one-year trade truce with China, the world’s top buyer of Iranian oil. “Any Country doing business with the Islamic Republic of Iran will pay a Tariff of 25% on any and all business being done with the United States of America,” Trump posted on social media on Monday. He added the new duty will be “effective immediately,” without providing details about the scope or implementation of the charges. Trump’s threat “underscores just how fragile the trade truce is between Washington and Beijing,” said Wendy Cutler, a former senior US trade negotiator now at the Asia Society Policy Institute. “Even if Trump does not actually go through with this tariff threat, some damage has already been done to our bilateral relationship and the trust that both sides have been trying to build.” Trump and Chinese leader Xi Jinping clinched a truce in their trade dispute during a meeting in South Korea in October — a pact that provides the US with access to rare earths. China dominates the production of the minerals critical to making tech goods and military weapons, and had imposed export

Iran. . . Continued from A6

Trump said Sunday that his administration was in talks to set up a meeting with Tehran, but cautioned that he may have to act first as reports of the death toll in Iran mount and the government continues to arrest protesters. “I think they’re tired of being beat up by the United States,” Trump said. “Iran wants to negotiate.” Iran, through the country’s parliamentary speaker, warned Sunday that the US military and Israel would be “legitimate targets” if Washington uses force to

curbs during the spat. The average US tariff rate on Chinese goods dropped to 30.8% from 40.8% after the two sides reached the truce in October, according to Bloomberg Economics. Now, the threat of further tariffs risks upending that agreement just as Trump eyes an April visit to Beijing. In August last year, White House adviser Peter Navarro downplayed the idea of hitting China with more tariffs over its buying of Russian oil. “We have over 50% tariffs on China,” Navarro said at the time. “We don’t want to get to a point where we hurt ourselves.” China’s Foreign Ministry and Commerce Ministry didn’t immediately respond to a request for comment on Tuesday. Iran has long been a flashpoint in US-China relations, with the two countries taking opposite sides in the Middle East conflict. While Washington has long backed Israel and Saudi Arabia, Beijing has moved closer to Iran, acting as a lifeline for Tehran’s economy by taking close to 90% of the country’s oil shipments. In September, Xi met with Iranian President Masoud Pezeshkian in Beijing and pledged to strengthen trade and investment ties. While China hasn’t officially purchased Iranian crude since June 2022, third-party data providers and traders signal flows have protect demonstrators. More than 10,700 people also have been detained over the two weeks of protests, said the USbased Human Rights Activists News Agency, which has been accurate in previous unrest in recent years and gave the latest death toll early Tuesday. It relies on supporters in Iran crosschecking information. It said 512 of the dead were protesters and 134 were security force members. With the Internet down in Iran, gauging the demonstrations from abroad has grown more difficult. The Associated Press has been unable to independently assess the toll. Iran’s government hasn’t offered overall casualty figures.

been resilient despite US sanctions. That’s because the Chinese have built a supply chain outside of Western control that supports imports of more than 1 million barrels a day. Iranian oil sold at a steep discount is vital for China’s private refining sector and a crucial source of fuel for its economy. The crude is typically held in offshore storage when it arrives. As of late December, those volumes were at a two-and-a-half year high of more than 50 million barrels, according to data from analytics and shiptracking firm Kpler Ltd. The Trump administration has renewed its “maximum pressure” campaign on Iran, threatening sanctions on buyers of Iran oil and petrochemical products. But in June the US president also gave China the green light to continuing buying Iranian oil. That announcement surprised both oil traders and officials in his own government as the president appeared to undermine

Washington’s Iran policy under multiple administrations, which sought to cut the regime’s main source of revenue by making its top export off limits. China’s official imports from Iran fell almost 28% year on-year in the first 11 months of 2025 to $2.86 billion, according to the latest data from the Chinese customs. Top goods imported include plastic materials like polyethylene, metals such as iron ores and zinc ores, and chemicals like acyclic alcohols widely used as industrial solvents in paints and cleaning products. Exports to Iran contracted nearly 23% in the same period to $6.2 billion, Chinese customs data show. The shipments mainly include refrigeration and air-conditioning compressors, cars, phones, and electric motors and generators. Two-way trade with Iran accounts for less than 0.2% of China’s total, according to the official figures. With assistance from Colum Murphy/ Bloomberg

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Customs seizes ₧105-M smuggled cigarettes By Reine Juvierre S. Alberto @reine_alberto

HE Bureau of Customs (BOC) kicked off the year with one of its biggest tobacco hauls yet, seizing more than P105 million worth of smuggled cigarettes in Dinalupihan, Bataan. In a statement on Tuesd ay, the BOC said operatives from the

Customs Intelligence and Investigation Ser vice (CIIS) and the Enforcement and Security Service (ESS) assigned at the Port of Limay inspected a compound in narangay Santa Isabel on January 9, 2026. The inspection led to the discovery of 12 motor vehicles loaded with around 1,030 master cases of cigarettes carrying brands such as Modern, RGD, Nise Baisha, HP, Power,

Carnival, Playboy and President. Based on the packaging and initial investigation, the illicit cigarettes originated from China, Vietnam and Korea, and have an estimated market value of P105.575 million, BOC said. Initial investigation also indicated that these smuggled cigarettes were intended for local distribution in Cagayan Valley and

Central Luzon, the BOC said. “This successful operation demonstrates our relentless drive to combat smug gling and protect government revenue. Through collaboration and cooperation among government agencies, we can work together to solve this problem and ensure that those who attempt to circumvent our laws are held accountable,” Customs Commissioner

Govt uniformed personnel to get pay, subsistence allowance hike

ILITARY and uniformed personnel (MUP) are set to receive higher takehome pay and increased subsistence allowance after the Department of Budget and Management (DBM) rolled out the first tranche of their salary increase. Acting Budget Secretary Rolando U. Toledo issued National Budget Circular 600 on Tuesday to implement the increase in base pay, which will be delivered in three tranches. DBM said the first tranche of the pay increase will take effect on January 1, 2026, with the succeeding tranches scheduled for January 1, 2027 and January 1, 2028.

In addition, the subsistence allowance of all MUP has been raised to P350 per day, starting January 1, 2026. The adjustment covers all MUP in the Armed Forces, National Police, Philippine Public Safety College, Bureau of Fire Protection, Bureau of Jail Management and Penology, Bureau of Corrections, Coast Guard and National Mapping and Resource Information Authority. Based on the updated base pay schedule for MUP, candidate soldiers will receive a monthly base pay of P19,516, while apprentice seamen, fire/jail officer 1 and patrolman/ patrolwoman will get P31,151 and

private first class P31,774. Corporals will receive P32,410, sergeants P33,058, master sergeants P35,082, senior master sergeants P35,783 and chief master sergeants P36,499. Cadets and first chief master sergeants will get P40,284 a month, ensig ns a nd second l ieutena nts P46,020, first lieutenants and inspectors P52,004, captains and police captains P59,411, majors and police majors P65,683, and lieutenant colonels and superintendents P74,879. Colonels and police colonels will receive P84,612, brigadier generals and commodores P95,611, major generals and police major generals

P108,041, lieutenant generals and vice admirals P131,853, and generals and police generals P157,274. The DBM said each agency’s human resource or administrative unit must prepare a Notice of Base Pay Adjustment for every incumbent MUP, subject to the agency head’s approval, and issue the notice to the personnel concerned. Funding for the pay increase and higher subsistence allowance will be charged against each agency’s respective personnel services budgets under the 2026 General Appropriations Act. Agencies that lack sufficient funds may request DBM for the release of additional amounts from available appropriations. Reine Juvierre S. Alberto

Almost 3 centuries needed to equalize women’s rights–UN By Bless Aubrey Ogerio

OMEN worldwide still hold only 64 percent of the legal rights enjoyed by men, and at the current pace of change, the United Nations (UN) Women estimated it could take nearly 300 years to close the gap. In a statement released Monday, UN Women said legal inequalities persist across major areas of life, including work, wages, property, family, mobility, business, safety and retirement. “No nation has fully closed the

legal gaps between men and women, even as we enter the second quarter of the 21st century,” the statement read. For the Philippines, the country has laws aimed at protecting women, including the 1987 Constitution’s gender equality provisions, the 2009 Magna Carta of Women, Republic Act 9262 on violence against women and children, and Republic Act 10354 supporting reproductive health. President Marcos, for his part, has highlighted the role of the Philippine Commission on Women in enforcing these laws and reducing violence against women.

Yet, even with these legal frameworks, disparities remain in practice. Philippine Statistics Authority labor surveys consistently show differences in wages and types of employment between men and women, pointing to ongoing structural inequality in the workforce. International Women’s Day (IWD) 2026, to be observed on March 9, will focus on equal access to justice for women and girls, aligning with the 70th session of the UN Commission on the Status of Women (CSW70) also starting on March 9. UN Women said the observance

aims to address “discriminatory laws, weak protections, and societal norms that undermine women’s rights.” During CSW70, member states, UN agencies and civil society representatives are reported to discuss strategies to strengthen legal systems, eliminate “discriminator y” policies and remove barriers that hinder women and girls from exercising their rights. “IWD 2026, under the theme, ‘Rights. Justice. Action. For ALL Women and Girls,’ marks a moment to amplify our collective determination,” the UN said.

Ariel F. Nepomuceno said. The BOC said the operation may have disrupted possible long-standing cigarette smuggling syndicates. The raid was carried out with the assistance of barangay Santa Isabel officials, the Philippine National Police–Bataan Provincial Police Office and security support from Charlie Company of the 69th Infantry Battalion, 7th Infantry Division of the

Philippine Army. The BOC reiterated its commitment to securing the country’s borders and protecting trade integrity as part of the government’s push to strengthen national security and economic stability. Last year, the BOC conducted 317 seizures of illicit cigarettes and tobacco products with a combined estimated value of P1.866 billion.

PSC stands to get ₧25-B from Pagcor, PCSO with SC ruling By Joel R. San Juan @jrsanjuan1573

HE Supreme Court (SC) has affirmed with finality its 2014 decision directing the Philippine Amusement and Gaming Corporation (Pagcor) and Philippine Charity Sweepstakes Office (PCSO) to remit a portion of their income for the funding of the Philippine Sports Commission (PSC). In an 11-page resolution released on Tuesday and written by Senior Associate Justice Marvic, the Court en banc also directed Pagcor and PCSO to submit a detailed account of the annual amounts owed to the PSC and actual remittances made each year. For Pagcor, the accounting covers the period from 1993 to present and from 2006 to present for PCSO. The SC said the balance of the remittances due may be paid over a period of 10 years. Josseller M. Guiao, former member of the House of Representatives (HOR) and Vice Chairperson of the HOR Committee on Youth and Sports Development and the petitioner in the case, earlier estimated that the PSC could receive as much as P25 billion in

Bataan. . . Continued from A4

Bataan Gov. Jose Enrique Garcia III said the province’s strengths include its strategic location as it is positioned near major economic corridors, reliable infrastructure, skilled workforce, and ongoing investments in renewable energy and logistics. “These advantages, coupled with investor-friendly policies and a collaborative local government, position Bataan as a prime site for hightech manufacturing,” Garcia said. According to BOI, the investment promotion agency attached to the Department of Trade and Industry (DTI): Bataan continues to emerge as a “strategic hub” for the semiconductor and electronics industry with the presence of investment promotion agencies (IPAs) with a “growing

arrears of the SC ruling is fully implemented. The Court’s resolution denied the motions for reconsideration filed by Pagcor and PCSO seeking the reversal of its decision issued on May 28, 2024 which granted Guiao’s petition for mandamus. The petition sought to compel Pagcor and PCSO to remit funds to the PSC under Republic Act No. (R A) 6847, or the law creating the PSC. In granting the petition, the directed Pagcor to account and remit the full amount of 5 percent of its annual gross income from 1993 to present in favor of PSC. Likewise, the Court ordered PCSO to account and remit to the PSC the 30 percent representing the charity fund of the proceeds of six sweepstakes or lottery draw per year, including its lotto draws, for the years 2006 to present. The SC held that Pagcor and PCSO failed to raise new arguments that would warrant the reversal of its decision. “The Motions for Reconsideration of Pagcor and PCSO are denied as the basic issues raised have been duly considered and passed upon by this Court in its May 28, 2024 Decision,” the SC declared.

number” of major locators, coupled with an “enabling” environment that supports industry expansion. Citing the latest data from the Philippine Statistics Authority (PSA), BOI underscored that the Philippines’ semiconductor and electronics industry continues to be a “significant” global player as outbound shipments in the said industry account for 58 percent of total merchandise exports or approximately $45.3 billion as of November 2025. “Bataan is a vital partner of the BOI in shaping the future of the country’s semiconductor and electronics system. The province is determined to foster partnerships, enhance workforce capabilities, and create an enabling environment for innovation and sustainability, solidifying its role in the industrial future of the Philippines,” the BOI underscored.

Wednesday, January 14, 2026

DA expands ₧20 rice program in Pangasinan, aims to support 60 million Pinoys by year-end By Ada Pelonia @adapelonia

HE Department of Agriculture (DA) has expanded the government’s cheaper rice program through a province-wide rollout in Pangasinan. Agriculture Secretary Francisco P. Tiu Laurel Jr. led the turnover to Pangasinan Gov. Ramon Guico III, Vice Gov. Mark Ronald

Lambino, and provincial officials, which marked the formal expansion of the P20 rice program, aimed at reaching 60 million Filipinos by year-end. The DA noted that around 708,000 Filipinos in Pangasinan could gain access to the subsidized rice. The program targets to benefit senior citizens, indigents, farmers, fishers, persons with disabilities, solo parents,

PCC signs deal with LTFRB to promote fair competition and protect commuters in public land transport sector By Andrea San Juan @andreasanjuan

HE Philippine Competition Commission (PCC) and the Land Transportation Franchising and Regulatory Board (LTFRB) have inked a deal to enhance cooperation in promoting fair competition and protecting commuters in the public land transport sector. According to the country’s competition watchdog, the memorandum of agreement (MOA) establishes protocols for notification, policy coordination, investigation support, and information sharing. This deal also mandates both agencies to consult on transport policies, review LTFRB rules for compliance with the Philippine Competition Act (PCA), and jointly address matters involving anti-competitive agreements, abuse of dominant position, anti-

competitive mergers and acquisitions, and other violations of the PCA, the PCC said in its statement. PCC noted that the agreement also provides for joint task forces when needed, logistical support for investigations, and access to relevant information subject to confidentiality and data privacy safeguards. It also covers “capacity-building” activities and advocacy initiatives to raise awareness of competition law among transport operators and commuters. PCC Chairperson Michael Aguinaldo said this agreement strengthens the ability of the competition watchdog to “safeguard commuters by embedding competition principles in public transport regulation.” “Working closely with LTFRB ensures better services, more choices, and fairer prices for the riding public,” added the PCC chairperson.

minimum wage earners, farmers and fisherfolk. The agency considered the subsidized rice as a two-pronged intervention, as it cushions households from volatile food prices while freeing up space in National Food Authority (NFA) warehouses to purchase more palay from farmers. “ Wi t h t h e F Y 2 0 2 6 n at i o nw i d e expansion rollout of the P20 ‘Benteng

Continued from A5

Following the tragic incident, the DENR said it work with the Department of the Interior and Local Government (DILG), provincial and city officials, and other relevant agencies to remove administrative or operational barriers to ensure alternative disposal arrangements and to facilitate the use of transfer stations and interim waste handling measures where appropriate. The DENR’s EMB-7 and MGB-7 technical teams are currently conducting site assessments, geotechnical reviews, and operational audits to inform immediate corrective measures and long-term facility design improvements, including sciencebased evaluations of potential secondary risks arising from rainfall and other natural factors.

DPWH. . . Continued from A5

feasibility study for a road between Pantao and the Bicol International Airport, hoping the circuit could help change the game. Still, volumes will challenge these new roads. “Suppressed demand will surface. Induced demand will follow. New roads are a necessary, but not sufficient, condition,” Salceda said. Salceda said the country is asking Dizon to perform a miracle. “He must rehabilitate a road built on acidic soil that is currently being pulverized by the weight of a nation’s economy,” he said. “I believe he is one of the very few people with the competence and grit to

Comelec. . . Continued from A5

del Sur 5; Basilan 4; Tawi-Tawi 4; Cotabato City 3; and the Special Geographic Area 2. The issue over district allocation stemmed from the Supreme Court’s ruling in September 2024 declaring that Sulu is not part of the Bangsamoro. This triggered questions on how to reassign the province’s originally allocated seven seats. With no clarity on where those seats should go, Comelec said in mid 2025 that itwould proceed with preparations for the parliamentary polls using only 73

Meanwhile, the EMB Region VII’s Ceaseand-Desist Order remains in effect while rescue, retrieval, and cleanup operations proceed. Any enforcement action will follow established legal and administrative procedures, including technical conferences and compliance commitments required of the facility operator. The DENR7 has been instructed to submit a resource and timeline proposal for the rapid appraisal within the next 72 hours, covering the scope of engineering, environmental, and geotechnical assessments to be undertaken. The DENR’s EMB7 will convene the Technical Conference with the operator to stipulate facts and require a compliance commitment, including a 90-day timeline for agreed-upon corrective actions, where applicable, and the submission of a rehabilitation and mitigation plan addressing waste mound stability and leachate control. get it right. But as we fix the asphalt, we must never lose sight of the tracks. To truly honor the legacy of Rolando Andaya Sr., we must finally give his constituents the choice they were promised forty years ago: a road that holds and a train that runs,” Salceda said. The Bicol Express suspended full operations in 2006 after Typhoon “Reming.” The PNR South Long Haul, which was supposed to restore Manila-Bicol rail ser vice, has stalled. China withdrew financing. A 99-kilometer gap remains unrepaired. There is no train to Bicol. There has not been one for nearly twenty years. Andaya Highway is named after Rolando Andaya Sr., who represented the first district of Camarines Sur in the Batasang Pambansa and later in Congress. seats—excluding the seven seats that remained in limbo. However, the High Court stopped this in October after striking down Bangsamoro Autonomy Act (BAA) No. 77, or the Bangsamoro Parliamentary Redistricting Act of 2025, and BAA No. 58, or the Bangsamoro Parliamentary Districts Act of 2024, as unconstitutional. Without a governing law in force, the Court ruled that Comelec has no legal basis to conduct the parliamentary elections within October. Comelec earlier said that at least P1 billion in funds went to waste following the abrupt halt of the Bangsamoro polls last year. Justine Xyrah Garcia

prices. This approach treats food inflation as a logistics and market coordination problem, not just a production issue, it added. Before end-January, the DA plans to expand the program to Nueva Ecija, and Bohol, as well as Zamboanga City and Davao City. These areas are chosen for either high rice output or heavy consumer demand. The budget to bankroll the program

Transport chief: E-driver’s licenses legally valid, physical confiscation not needed By Lenie Lectura @llectura

RANSPORTATION Secretary Giovanni Lopez on Tuesday reminded motorists and traffic enforcers that e-driver’s licenses (eDL) are just as valid as physical driver’s licenses. Department of Transportation (DOTr) Department Order (DO) No. 2023-015 states the use of e-driver’s license, as an alternative to a physical or actual driver’s license. “For example, you don’t have an actual

physical card but you have an e-driver’s license and you are caught or have a violation, let’s say, all you have to do is show the enforcer your e-driver’s license,” he said. The DL can be accessed through the Land Transportation Management System (LTMS) portal. “The driver’s license holder must have an account. That’s what you need to access and show to the enforcer. And this [e-driver’s license] is also a reason why there is no need to confiscate the actual physical license,” added Lopez. He reminded motorists that they can pay

online for a Temporary Operator’s Permit (TOP) in case they are involved in a traffic violation. “The TOP will be the basis for the penalty, the fine, and that’s what you will use to pay and now you can do that online too. That’s the government’s way of making public services convenient and genuine. You can pay that online,” said Lopez. The department order states that the “LTO law enforcement officers and their deputized agents are enjoined to accept an eDL as a valid form of authorization and identification to operate a motor vehicle.”

Sen. Villanueva: Bring back focus on MSMEs By Butch Fernandez @butchfBM

DENR. . .

Bigas, Meron Na!’ program through PLGUs, the DA is institutionalizing food security by ensuring affordable rice for vulnerable Filipinos, while empowering the NFA to procure more palay from farmers at fair and sustainable prices,” Assistant Secretary Genevieve Velicaria-Guevarra said. By capacitating local government units (LGUs) to manage rice distribution, the DA wants to stabilize farmgate and retail

ENATOR Joel Villanueva said the government should boost the country’s micro small and medium enterprises (MSMEs) to address lingering unemployment and underemployment problems. Villanueva, reacting to the latest job data, said the General Appropriations Act of 2026 should focus on enhancing the competitiveness and sustainability of Filipino medium and small businesses to create more jobs and address poverty. “We must improve on our employment figures on a month-to-month and year-toyear basis for a realistic job growth figure and one strategy to raise employment is by strengthening the lifeblood of our economy, the MSMEs, through focused government

support. Where MSMEs thrive, communities prosper,” the senator said. Latest data from Philippine Statistics Authority’s Labor Force Survey showed that the unemployment rate in November dipped slightly to 4.4 percent, translating to 2.25 million jobless Filipinos, which is down from 5 percent, or 2.59 million unemployed, in October. In the Philippines, MSMEs comprise 99.63% of all registered business establishments and account for 66.97% of the total employment as of 2023. “The budget must be used judiciously and effectively to empower MSMEs, create quality jobs and inspire inclusive growth,” Villanueva said. The senator pushed anew for the passage of his Senate Bill No. 1155 or the MSME Stimulus Act to institutionalize support for MSMEs to facilitate their growth for job generation.

A key element in the bill highlights aid for MSMEs to sustain their operations in times of national emergencies, natural disasters, public health crises, and other unforeseen events that pose risk to business continuity. Under the bill, MSMEs may avail of interest free loans from the Land Bank of the Philippines and the Development Bank of the Philippines to support growth assistance, regional job creation and continued business operation. The measure also provides a wage subsidy to cover all or a portion of the wages of the employees of qualified MSMEs. “There’s no more question about the purpose and passion of MSMEs to survive and thrive. What the government needs to do is to match these with programs and policies that would put the so-called economy’s backbone at the center of attention,” Villanueva said.

Remulla: Officials violating anti-epal policy face admin cases, suspension

HE Department of the Interior and Local Government (DILG) warned government officials, who will violate the intensified “antiepal” policy of the government can face administrative cases. “We have administrative cases that can be filed against them, anything from suspension to preventive suspension...we have a lot of them,” DILG Secretary Juanito Victor “Jonvic” C. Remulla said in press briefing in Malacañang last Tuesday. The anti-epal policy aims to prevent politicians from engaging in credit-grabbing when it comes to government projects. Recidivist or those who will commit repeated violations, Remulla said, will face harsher penalties. “Well, if the local chief executive’s attitude is recidivist, we can forward this to

the Ombudsman for admin and criminal cases,” Remulla said. However, he noted the erring officials are unlikely to be removed from office. “The removal from office is on the basis, most often than not, is for graft or other severe forms of violations. But that suspension I think is already a grave punishment for people [who violate the anti-epal policy] like that,” Remulla said. He urged concerned citizens to report to DILG officials, who will violate the anti-epal policy by including their names and pictures in materials of government projects. “When politicians commit violations, we call on citizens to take pictures, post them on Facebook, so we can investigate them,” Remulla said. The DILG chief issued the statement

as President Ferdinand Marcos instructed concerned government agencies to fasttrack the crafting of guidelines for the implementation of the Section 19 of the 2026 General Appropriations Act. The said provision prohibits political involvement in the distribution of cash and other forms of financial assistance. “Let’s wait for the guidelines, but the President wants this to be resolved as soon as possible,” Palace Press Officer Claire Castro said. Remulla said he hopes the guidelines of the anti-epal policy will be institutionalized through legislation. “We still don’t have a codified conduct for that anti-epal campaign. And it will be a great help if the national legislature takes steps to really ban [credit grabbing],” he said. Samuel P. Medenilla

this year was estimated at about P14 billion, including roughly P4 billion carried over from last year, excluding a separate P9-billion allocation for NFA palay procurement. Currently, the grains agency’s total inventories stand at 451,886 metric tons (MT) or about 9.04 million 50-kilo bags of rice, which is enough to cover nearly 12 days of national consumption.

SC: Suspended sentences for CICL covers even those beyond 21 years old

HE Supreme Court (SC) has reiterated its 2011 ruling which allowed suspended sentences for children in conflict with the law (CICL) even beyond the age limit of 21. In a decision written by retired Associate Justice Mario V. Lopez and released last January 12, 2026, the Court en banc affirmed with modification the Court of Appeals’ decision which found the accused CICL guilty of statutory rape and sentenced him to reclusion perpetua. Instead, the Court found the accused guilty of qualified rape of a minor, imposing a penalty of 12 years to 14 years. The crime happened in December 2014, when the accused was still 15 years-old and the victim was only five years old. Based on the records of the case, the accused invited the victim to his house to play but instead sexually molested her. After three years of trial, the Regional Trial Court found the accused, who was then 18 years old, guilty of statutory rape and imposed the penalty of imprisonment. But the trial court suspended his sentence in line with Section 38 of RA 9344 or the Juvenile Justice and Welfare Act. The said provision held that an accused who was a minor at the time of the offense is entitled to the suspension of their sentence. However, two months later, the trial court ordered the issuance of a warrant of arrest against the accused upon the motion of the camp of the victim, noting he had already attained the age of minority. The accused was detained at the New Bilibid Prison (NBP) in Muntinlupa. The Court of Appeals affirmed the accused conviction but imposed a penalty of reclusion perpetua. The SC affirmed his conviction but clarified that the crime was qualified rape and ordered the suspension of his sentence. It pointed out that Section 40 of RA 9344 provides that when the CICL reaches 18 while under suspended sentence, the court may discharge them, order the execution of their sentence, or extend the suspended sentence for a period or until they reach the maximum age of 21 years old. In this case, the accused, who was transferred to the Davao Prison and Penal Farm, is now 25 years old. However, the SC decided to extend the suspension of his sentence to fulfill the law’s legislative intent, which prioritizes the child offender’s restoration, rehabilitation, and reintegration into the community. The SC cited its 2011 ruling in People v. Jacinto, which allowed suspended sentences even beyond the age limit of 21. It emphasized that the CICL’s age at the time of judgment is not important; what matters is that they were children when they committed the crime. The SC explained that the CICL must be “given a chance to live a normal life and become a productive member of the community.” Joel R. San Juan

Remulla orders BFP probe, mandates body cams for inspectors amid extortion claims

OME officials and personnel of the Bureau of Fire Protection (BFP) are now in hot water and facing investigation from the Department of the Interior and Local Government (DILG) for allegedly collecting kickbacks from fire extinguishers sales. In a press briefing in Malacañang last Tuesday, DILG Secretary Juanito Victor “Jonvic” C. Remulla announced he has created a taskforce to look into the matter. “Now what we are formally investigating is the former Bids and Award Committee [of

BFP] last year and the several personnel from the QC [Quezon City] Fire Department and from the NCRPO [National Capital Region Police Office] and the general leadership of the BFP,” he said. The DILG chief made the announcement after it was reported that BFP officials allegedly collected P30 million in kickbacks from sales of fire extinguishers from a single building. A BFP official from Quezon City and another BFP officer in the National Capital Region, were allegedly involved in pressur-

ing establishments to buy overpriced fire extinguishers in exchange for the approval of their fire safety permit. Both BFP officials were placed under administrative relief, while they are under investigation. To prevent similar incidents, Remulla said they will now require fire inspectors to wear body cameras. He said the fire inspectors will also be mandated to use a standard script during their inspections. “So upon inspection, they will tell you

what they see; if they don’t see any violations, right there and then, they have to give you your certificate and your digital copy [of your permit] is to follow so there’s no more delay,” Remulla said. “If they are going to inspect your fire extinguisher, they should inspect it properly, they should tell you what the defect is. But they can’t recommend what fire extinguisher to buy,” he added. BFP currently has around 10,000 fire inspectors according to Remulla. Samuel P. Medenilla

A10 Wednesday, January 14, 2026 • Editor: Angel R. Calso

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Trends and challenges: FAO’s end-of-year dip masks a tough 2025 for Philippine food imports

HE December Food Price Index of the Food and Agriculture Organization of the United Nations (FAO) may have cheered consumers as it recorded a 2.3-percent decline from its level a year ago. Last January 9, the UN agency published a report which showed that the index was also slightly lower than its level in November 2025. Despite the increase in international prices for cereals, declines in other food commodities more than offset the price hikes.

The index for the whole of 2025, however, is quite worrisome particularly for countries like the Philippines, which rely heavily on foreign sources for certain food commodities. Last year, the index averaged 127.2 points, 4.3 percent higher than its average in 2024. FAO said this was due to more expensive vegetable oils and dairy products and the increases outweighed the cuts in cereal and sugar quotations. (See, “FAO: Average food prices higher in 2025,” January 12, 2026). The benchmark for world food commodity prices was higher in 2025 due to more expensive meat, dairy and vegetable oil—three of the food items that the Philippines usually import in huge quantities. Last year, the FAO Vegetable Oil Price Index averaged 161.6 points, up 23.6 points (17.1 percent) year-on-year. Vegetable oil prices rose to three-year high due to tight global supplies. As for dairy prices, FAO’s index averaged 146.9 points in 2025, 13.2 percent above the 2024 average, reflecting strong price increases during the first half of the year. The UN agency pointed to more expensive cheese, whole milk powder and butter as culprits behind the rise in the dairy price index. The three dairy products are also imported by the Philippines. The increases in meat products last year, according to FAO, was largely caused by more expensive beef and lamb. While the Philippines does not import lamb in huge volumes, local institutional buyers like hotels and restaurants purchase beef. Pork and chicken prices may have declined last year but animal disease outbreaks like bird flu and geopolitical tensions may continue to put pressure on prices. These results reflect the increasing need of the world not only for staples like wheat and rice, but also for key ingredients used in food processing as well as for dishes served in restaurants. This development does not bode well for urban residents that are now increasingly relying on restaurants and quick-service restaurants for their meals. The continuous depreciation of the peso would only make it more difficult for local businessmen to keep food prices low. Addressing the inefficiencies that have long plagued the local farm sector was one of the top priorities of the current administration, yet three years after the 2022 elections, the Philippines has yet to significantly narrow the agriculture trade deficit. What this means is that the Philippines is still a net food importer, a country that continues to prop up the incomes of exporting nations and their farmers. And based on official data, reversing this trend would be an uphill battle for the Philippines. Since 2005

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Economic resilience Mark Villar

THE BUILDER

ESILIENT may well be the apt description for the Philippine economy in 2025. The same attribution may also apply this year—the Philippine economy will likely grow further despite the odds and challenges posed by the new world economic order. Even by conservative estimates, the gross domestic product (GDP) this year is expected to expand 5.3 percent from an estimated 5 percent in 2025. The state-funded think tank Philippine Institute for Development Studies (PIDS) sees domestic demand, infrastructure spending and continued expansion in the services sector powering the economy in 2026. The PIDS acknowledged that the figures indicate resilience, although the growth forecasts remain below the government’s official targets. The economy is exhibiting resiliency for reasons I mentioned in my last column. We continue to enjoy a demographic dividend, as a major segment of our population reaches working age faster than the dependent population of the young and old. This demographic dividend has resulted in a labor force of nearly 50 million workers, who are productively contributing to economic activity and household spending. We also have a vibrant consumer market whose purchasing power is sustaining the economy. That pur-

chasing power remains intact. Inflation rose to 1.8 percent in December 2025 from 1.5 percent in November, mainly because of the agricultural disruptions caused by Typhoon Uwan late last year. But the December figure still brought the average full-year inflation in 2025 to 1.7 percent, or below the government target range of 2 percent to 4 percent for the year. This gives the Bangko Sentral ng Pilipinas (BSP) more leeway to reduce interest rates, an incentive for factory expansions that will generate more jobs. I said in the early part of this column that we are establishing a resilient economy. Despite the high tariff regime imposed by US President Donald Trump, our trade figures remain vibrant. Exports jumped 21.3 percent in November 2025 from a year ago as a result of strong electronics shipments. Export sales in November reached $6.91 billion, up from $5.70 billion a year earlier, per the Philippine Statistics Authority (PSA). The latest government data shows that overall total exports in

the first 11 months of 2025 grew 14.5 percent to $77.39 billion from $67.60 billion in the same 11-month period in 2024. Electronic products remained the country’s top export, contributing $4.19 billion or 60.7 percent of total earnings. The sector also saw the highest annual increment at $1.41 billion, followed by machinery and transport equipment, which rose $72.07 million, and gold which increased $61.16 million. Other major export earners included manufactured goods at $348.14 million and machinery and transport equipment at $317.02 million. The US is our biggest trading partner, with manufactured goods making up the majority of total exports. And despite the first year of President Trump’s increased tariffs in 2025, Philippine exports managed well and weathered the trade barrier. The 2026 budget, meanwhile, is supportive of an inclusive economic growth and a low inflationary scenario. This year’s national budget includes a P297.1-billion allocation for the agriculture sector. The funds aim to prioritize farm-to-market roads, cold storage facilities and rice mills to boost productivity and food security. Farm-to-market roads are essential in boosting agricultural output. They open up new production centers, speed up the transportation of crops and increase the rural income in the process. Increased agricultural production equates to more jobs and lower food prices. These align with the government’s Trabaho Para sa Bayan Plan 2025–2034, which seeks to balance the interests of farmers and consum-

ers, while safeguarding food security through targeted policy actions. We have more reasons to be optimistic for 2026. The manufacturing sector is poised for sustained growth amid a stabilizing domestic demand, potential export gains and industrial reforms. The December 2025 rebound in the purchasing manager’s index (PMI) validates the trend. S&P Global Ratings earlier reported that the Philippines’ PMI rebounded to 50.2 percent in November from October’s four-year low of 47.4 percent. An index above 50.0 percent indicates expansion. “The PMI shows we are back in positive territory, a clear sign of resilience. The challenge and opportunity now is to turn this recovery into lasting industrial strength by investing in innovation, diversification and resilience,” says FPI chairwoman Elizabeth Lee. Philippine companies are normalizing their operations after November’s typhoon disruptions, which had sharply curtailed production and deliveries. New orders rose for the first time since August, ending a three-month drop and signaling stronger domestic demand. Companies have resumed purchasing activities in anticipation of future output growth despite supply chain challenges. The economy has persevered despite weather disturbances and the challenges in international trade. It is becoming more resilient and I am optimistic it will not be derailed by temporary setbacks. For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

Padayon sa Pagbabago: The Azotea promise for the Republic By Dr. Pablo S. Trillana III

IZAL gives us a scene that refuses to age. In Chapter VII of Noli Me Tangere—Derbyshire calls it “An Idyl on an Azotea”— Ibarra meets María Clara again, above the street-noise, on the terrace of Kapitan Tiago’s house. After seven years, they do not begin with politics. They begin with remembrance: small relics of childhood, the ache of distance, the tenderness that endured. And then, as always in Rizal, sweetness is braided to duty. Love does not cancel the work below; it makes it unavoidable. That azotea is where the Philippines needs to stand: higher than the din, where conscience can speak in a normal voice, then return downstairs with steadier hands. A nation cannot live forever on the streetlevel quarrel. It must, from time to time, step up to the terrace— breathe, remember, and make a promise worth keeping. This is the spirit of Padayon sa Pagbabago, on January 22–24, 2026, at the Asian Institute of Management, Makati: a national “asotea moment,” three days to rise above

the daily noise and recover a deeper vow—courage with tenderness; reform with mercy; structures with soul. The invitation is gentle—and it asks for something real when we step back downstairs. Padayon is not a slogan. It is what Filipinos say when there is no guarantee of ease, only the obligation to continue. Pagbabago is not the fashionable kind of change that edits vocabulary while keeping old habits. It is the harder kind: changing the operating system—how we decide, how we govern, how we

Padayon sa Pagbabago is not designed to end as a beautiful weekend memory. It carries a practical spine: commitments that can be executed within a defined period; an integrity ledger of what we will no longer excuse; community metrics we will track and publish; and small practices that can be institutionalized in schools, offices, professions, and civic circles. Not applause, but accountability. Not slogans, but habits. teach, how we reward truth, how we restrain power, how we protect the weak. For that kind of change, we do not need more fireworks; we need more counsel. So, the Conference is deliberately built as panel conversations, not long speeches. In a country that often loves microphones more

than listening, that choice is reform in miniature: disciplined exchange, honest disagreement, a refusal to hide behind performance. Democracy without honest disagreement becomes theater—and theater cannot build a nation. The conversations are anchored on four frontiers—four lamps we must keep lit if the Republic is to see its way forward: Artificial Intelligence and Technology: The Frontier of Conscience. Capability is accelerating; wisdom is not. The issue is not whether AI will be powerful—it will be. The issue is whether we remain decent while using it: dignity over manipulation; rights over predation; transparency over the black box. Corruption and the everyday machinery of impunity. Corruption is often not a single scandal but a system: incentives, loopholes, exemptions. Public power is borrowed power. A people who stop enforcing See “Trillana,” A11

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Presumption of regularity in The ultimate betrayal: Why Manuel Bonoan carries the conduct of assessment the greatest weight in the ghost flood control scandal should be abandoned When Secretary Bonoan sat at Dr. Jesus Lim Arranza

MAKE SENSE

Fulvio D. Dawilan

TAX LAW FOR BUSINESS

MONG the powers granted by the Tax Code to the Commissioner of Internal Revenue is the power to make assessment. That power, however, is not without limitation. There are procedures outlined by law and the tax bureau’s own issuances that need to be observed. The Courts had in fact declared in several cases that these procedures are part of the due process requirement in the conduct of examination and the issuance of assessment. Non-observance of these requirements would lead to the nullity of the resulting assessment. Despite the effects, these procedures are often disregarded. A reference to the decisions of the Courts would show that several assessments issued against taxpayers are dismissed due to the non-observance of the due process requirements, some of which are mentioned below. Revenue officers are not properly authorized. The authority to conduct examination and determine the correctness of tax payments is lodged with the Commissioner or through his duly authorized representative. Other than the Commissioner or his duly authorized representative, other revenue officers should be clothed with authority—that is, through a duly issued letter of authority (LOA). The implementing regulations and other revenue issuances mandate specific procedures in which letters of authority are to be issued and revenue officers are to be selected and authorized. The Courts had consistently emphasized the reasons for proper authorization. Based on Court decisions, due process requires that taxpayers must have the right to know that the revenue officers are duly authorized to conduct the examination and assessment, and this requires that the LOAs must contain the names of the authorized revenue officers. Identifying the authorized revenue officers in the LOA is a jurisdictional requirement of a valid audit or investigation by the BIR, and therefore of a valid assessment. Clearly, there must be a grant of authority before any revenue officer can conduct an examination or assessment. In the absence of such an authority, the assessment or examination is a nullity. Thus, unless authorized by the Commissioner himself or by his duly authorized representative, through an LOA, an examination of a taxpayer cannot ordinarily be undertaken. It is undeniable though that examinations are being pursued without proper authority, intentional or not. This is evident by the number of assessment cases cancelled by the Courts without the proper authority of the revenue officers who conducted the examination or who recommended the issuance of deficiency tax assessments against taxpayers. Failure to inform the taxpayer of the facts and the law on which the assessment is based. The law requires that the taxpayer shall be informed in writing of the law and of the facts on which the assessment is made. Otherwise, the assessment shall be void. Compliance with this requirement is outlined with more details in Revenue Regulations No. 12-99, and its amendments. Preliminary Assessment Notices need to show in detail the facts and law, rules and regulations, or jurisprudence on which the proposed assessment is based. Similarly, the Final Letter of Demand (FLD) must state the facts and law on which it is based. Otherwise, the FLD and the related Final Assessment Notices shall be void. Finally, the decision on a disputed assessment shall state the facts and law, rules and regulations, or juris-

prudence on which the decision is based. Failure to do so would invalidate the Final Decision on Disputed Assessment. Apparently, this requirement is not limited to facts and the law used as bases in computing the deficiency taxes. It covers as well the actions or responses on the submissions, explanations and other justifications made by the taxpayer in contesting the assessment. In GR 201398-99 and GR 201418-99 (which was followed by several other cases), the Court declared that the Tax Code and its implementing revenue regulations allow a taxpayer to file a reply or otherwise to submit comments or arguments with supporting documents at each stage in the assessment process. Due process requires the Bureau of Internal Revenue to consider the defenses and evidence submitted by the taxpayer and to render a decision based on these submissions. Failure to adhere to these requirements constitutes a denial of due process and taints the administrative proceedings with invalidity. In other words, due process demands that the taxpayer’s defenses should be considered by the tax bureau in making its conclusions, and that the affected party be sufficiently informed of the reasons for its conclusions or decisions—whether acceptance or rejection. In exercising its power to assess, the tax bureau ought to give due consideration to the arguments and evidence submitted by the affected party. This “duty to give reason” allows the taxpayer to be made aware of the actions made on its submissions—including rejections. This notwithstanding, a lot of assessment cases had been dismissed for failure of the tax authority to properly inform the taxpayers of facts and the law on which the assessment is based—resulting in the nullity of the assessments. These are just among the reasons why assessments issued by the tax authorities are cancelled due to failure on the part of the tax authority to follow the requirements provided by law and by its own rules. And this is not an isolated one. The numbers would show that there are irregularities (perhaps many are unintentional) in the conduct of examinations and issuance of deficiency tax assessments. If government action does not conform with the standard it ought to follow, the presumption of regularity is destroyed and should not be invoked to justify that action. Perhaps, it’s time to abandon the “presumption of regularity” in the conduct of tax examination, which is often invoked by the tax bureau in justifying the exercise of its power to make assessment. The author is a managing partner of Du-Baladad and Associates Law Offices (BDB Law) (www. bdblaw.com.ph). The article is for general information only and is not intended, nor should be construed as a substitute for tax, legal, or financial advice on any specific matter. Applicability of this article to any actual or particular tax or legal issue should be supported, therefore, by a professional study or advice. If you have any comments or questions concerning the article, you may e-mail the author at fulvio.dawilan@ bdblaw.com.ph or call 8403-2001 loc 310.

HE “billion-peso ghost flood control scandal” is more than just a case of systemic corruption; it is a profound breach of the “alter ego” principle that governs the Philippine Cabinet. While various officials and contractors have been implicated, the heaviest weight of accountability must fall squarely on the shoulders of former DPWH Secretary Manuel Bonoan. As the primary steward of the nation’s infrastructure and the direct representative of President Ferdinand Marcos Jr., Bonoan’s failure is not merely administrative—it is a supreme betrayal of public and presidential trust.

The failure of the ‘alter ego’ In our government, a Cabinet Secretary is not just a department head; they are the alter ego of the President. When Secretary Bonoan sat at the helm of the DPWH, he acted with the delegated authority of the Chief Executive. Every “ghost project” that bypassed scrutiny was a stain on the Presidency itself. By allowing billions in taxpayer money to vanish into non-existent riverbanks in Bulacan, Bonoan did more than fail at his job—he compromised the integrity of the administration he was sworn to uphold. The Independent Commission for Infrastructure (ICI) was blunt: this plunder happened “right under Bonoan’s nose.” For a man who has been with the DPWH since 1966, rising from the ranks to the top post, the plea of ignorance is unacceptable. His decades of experience should have been the department’s strongest shield against fraud; instead, that expertise was seemingly used to overlook – or perhaps facilitate—the “inexcusable negligence” that the ICI

now equates to fraud. The anatomy of deception The specifics of the ICI’s findings in Plaridel and Bocaue, Bulacan, reveal a level of audacity that requires high-level complacency. The P72.3 million Plaridel project: Documents were falsified to show a completed riverbank project that simply did not exist. The P95.04 million Bocaue project: Another “non-existent” miracle of engineering that existed only on paper. The ICI notes that these schemes were made possible because Bonoan “miserably failed to exercise simple diligence.” In the world of high-stakes infrastructure, “simple diligence” means ensuring that P167 million in two towns alone isn’t paid out to contractors like Topnotch without a single stone being laid. The lack of geotagged photos, accomplishment reports, and valid disbursement vouchers proves that this wasn’t a clerical error—it was a coordinated raid on the national treasury. A betrayal of Presidential

the helm of the DPWH, he acted with the delegated authority of the Chief Executive. Every “ghost project” that bypassed scrutiny was a stain on the Presidency itself. By allowing billions in taxpayer money to vanish into non-existent riverbanks in Bulacan, Bonoan did more than fail at his job—he compromised the integrity of the administration he was sworn to uphold.

trust Perhaps the most damning indictment of Bonoan’s tenure is the ICI’s observation that the plunder would have continued indefinitely had President Ferdinand Marcos Jr. not flagged the corruption in his 2025 State of the Nation Address (SONA). It is a dark irony that the President had to act as the whistleblower for his own Department of Public Works. Bonoan was reposed with the President’s absolute trust to implement the “Build Better More” agenda. By allowing a “kickback scheme” to flourish among his undersecretaries and district engineers, Bonoan effectively sabotaged the President’s legacy. He was the gatekeeper who left the door wide open, allowing the “plunder of public funds” to reach such heights that only a presidential intervention could halt the bleeding. The flight from accountability The fact that Manuel Bonoan left for the United States in November 2025, just as the ICI was finalizing its recommendations for administrative and criminal charges, paints a picture of a man evading the consequences of his actions. While no hold

departure order was in place at the time, the moral obligation remains. A public servant of 60 years should not be spending his retirement in the suburbs of America while the Filipino people deal with the floods his “ghost projects” failed to prevent. The path to justice To restore the public’s faith in the infrastructure program, the government must take three decisive steps: Forced return: The government must use all legal and diplomatic channels to ensure Bonoan returns to the Philippines to face the Office of the Ombudsman. Financial freezing: The AntiMoney Laundering Council (AMLC) must immediately freeze Bonoan’s bank accounts and assets. If the ICI’s findings of “negligence tantamount to fraud” hold true, the state must ensure that any ill-gotten wealth or assets derived from this period are preserved for potential forfeiture. Full prosecution: He must be held to the highest standard of the Code of Conduct and Ethical Standards for Public Officials (RA 6713). Manuel Bonoan’s sin is the greatest because his position was the highest. He was the “alter ego” who chose to look away, the veteran who “failed to see” the obvious, and the trusted ally who left the President and the public to drown in the consequences of his negligence. The “ghosts” of the country’s flood control projects must now haunt the man who allowed them to exist. Filipinos believe the billion-peso ghost flood control scandal—enabled by Bonoan and spearheaded by DPWH officials—was a grand conspiracy. All of the conspirators must ultimately pay. This is the justice flood victims demand for the deadly consequences of their greed.

Takaichi trade roars back in Japan as snap election bets grow By Alice French & John Cheng

With the prime minister’s popularity running high, a vote could bolster her authority, reigniting the so-called Takaichi trade that’s driven equity gains, bond losses and a weak yen since she came to power in October. The Japanese currency slipped as much as 0.5 percent on Tuesday afternoon to its weakest level against the dollar since July 2024, while the Nikkei 225 and Topix stock benchmarks both rose over 2 percent to hit fresh intraday records. Japan’s 30year government bond yield surged as much as 12 basis points to 3.52 percent. The yen’s brief drop to 158.91 per dollar followed a Kyodo News report that Takaichi has told a senior member of her ruling Liberal Democratic Party she intends to call a snap election. Japan’s currency had earlier

made a small and temporary recovery after Finance Minister Satsuki Katayama said she and US Treasury Secretary Scott Bessent shared concerns about the weakening yen. “As the scenario of the LDP securing a single-party majority becomes more realistic, concerns about further fiscal expansion backed by public support are likely to accelerate selling of JGBs and the yen,” said Rinto Maruyama, an FX and rates strategist at SMBC Nikko Securities Inc. The LDP is currently in a minority in both parliamentary houses. Tuesday’s market reaction mirrors the stock buying and bond selling triggered by Takaichi’s appointment as prime minister last year. Her aggressive fiscal spending policies have helped lift Japanese equities to multiple record-highs,

while keeping JGBs and the yen under pressure. Expectations that Takaichi could cement her mandate in an election are reigniting that trade Tuesday, said Masahiko Loo, senior fixedincome strategist at State Street Investment Management. “The path of least resistance for now is higher Nikkei, weaker yen and JGBs [steeper yield], on a classic backdrop of the ‘Takaichi trade,’” he said. The yen’s weakness risks triggering intervention by the Ministry of Finance if it breaks beyond 161 to the dollar, Loo added. The big yield dispersion at the long end of the Japanese bond curve shows no sign of reversing, which suggests BOJ intervention may be the only way to shore up the market. Moreover, talk of early Japanese elections will further undermine sentiment in JGBs as boosting stocks will be a priority for the government heading into any vote, according to Bloomberg strategist Mark Cranfield. Sectors that stand to benefit from Takaichi’s spending, includ-

Trillana. . .

one house. Technology without conscience becomes a weapon; reform without inner discipline becomes a cycle of promises. We are honored that Justice Conchita Carpio-Morales will join as the Conference Guest of Honor and Speaker. For many Filipinos, she stands for a plain, bracing truth: accountability without spectacle; integrity in full view. In a season when trust is easily spent and rarely replenished, her presence lends the gathering its moral center: the common good, not the convenience of the powerful. Padayon sa Pagbabago is not designed to end as a beautiful weekend memory. It carries a practical spine: commitments that can be executed within a defined period; an integrity ledger of what we will no longer excuse; community metrics we will track and publish; and

small practices that can be institutionalized in schools, offices, professions, and civic circles. Not applause, but accountability. Not slogans, but habits. A Republic is not renewed by one grand gesture. It is renewed by many small obedience to truth. So we keep a short poem close—both blessing and warning: Beloved Land, do not be sold for noise that passes as speech; let law be more than ink, let power learn to kneel. In the azotea scene, the lovers’ reunion does not cancel duty; it deepens it. Love that is real does not end in sweetness; it becomes responsibility. The Philippines needs that kind of love now: not sentimental nationalism, but disciplined affection—affection that reforms incentives, strengthens institutions, teaches children, and refuses to sell

APANESE stocks extended their climb to record highs while the yen and government bonds slumped on speculation that Prime Minister Sanae Takaichi may soon call a snap election.

continued from A10

accountability lose the Republic by inches. Education, Culture, and Wisdom Traditions: The Soul of the Republic. A Republic reproduces itself in the young—through homes, classrooms, communities, and the stories we honor. Slogans do not raise children. Discipline, memory, and moral imagination do. Constitution-making and the future of the Republic. This is not technical debate alone. It is whether our institutions still reflect our values—or whether values have quietly evacuated, leaving only procedures behind. Constitutional culture is built when citizens refuse to normalize decay. These are adjoining chambers of

ing defense, AI and nuclear power, led stock gains in Tokyo. Kawasaki Heavy Industries Ltd. surged as much as 10 percent while chip-gear makers Lasertec Corp. and Tokyo Electron Ltd. soared over 9 percent. Nuclear plant engineer Toyo Engineering Corp. jumped 15 percent. The yen’s weakness was also a boon for Japanese exporters, with Toyota Motor Corp. shares advancing as much as 7 percent and Hitachi Ltd. up 3.8 percent. “We expect significant gains in so-called Takaichi stocks,” including energy and space-related names, “and highly forex-sensitive stocks” in the near term, wrote Citi Research analysts Ryota Sakagami and Keishi Ueda in a note. However, the Takaichi trade revival could be short-lived as the LDP appears to be split on the idea of an election, warned Sakagami and Ueda. Further yen weakness could also “trigger concern about inflation and economic deterioration,” weighing on stocks down the line, they said. With assistance from Momoka

the future for the convenience of the present. Padayon sa Pagbabago is an invitation to step upstairs—above the noise—long enough to remember the promise, and then to go back down with steadier hands. The Beloved Land will not be renewed by despair, nor by anger alone, but by a people who can hold courage and tenderness together: courage to name what is broken; tenderness to keep faith with the Filipino soul; courage to reform systems; tenderness to protect the human being inside those systems. Inquiries for Padayon may be coursed through e -ma i l r izalcenterfoundation@ gmail.com or 0956-0023594 or 0960-8594702. Kung hindi ngayon, kailan—at kung hindi tayo, sino? Padayon. Not tomorrow. Now.

Yokoyama/Bloomberg

A12 Wednesday, January 14, 2026

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PHL PASSPORT’S VISA-FREE DOE: Solar PHL owes govt SCORE SLIPS IN 2025: STUDY ₧24-B contractual obligations T By VG Cabuag

By Lenie Lectura @llectura

EVISTE-LED Solar Philippines failed to deliver over 11,427.83 megawatts (MW) of committed renewable energy (RE) projects and owes the government at least P24 billion in contractual obligations, the Department of Energy (DOE) said. DOE Secretary Sharon Garin said 163 RE service contracts, with a total capacity of 17,904.02MW, were terminated and relinquished in 2024 and 2025. Garin said 33 of the terminated contracts were awarded to the project companies of Solar Philippines Power Project Holdings, Inc. (SPPPHI). Of these, seven RE contracts, with a 1,350MW of committed capacities, were awarded during the first round of Green Energy Auction (GEA-1) and one (20MW) from GEA-2. “Out of the 17,904 megawatts of terminated contracts for 2025 and

2024, Solar Philippines would be about, if I’m correct here, 11,427 megawatts. That’s more or less equivalent to 64 percent of the terminated contracts,” Garin said. Most of these RE projects were awarded to Solar Philippines, one of the project companies under SPPPHI. Solar Para sa Bayan, Corp. another project company under SPPHI, has not completed a power project since inception in 2019, added Garin. The agency has not received any feedback from Solar Philippines despite reminders about the deadline

of its committed projects. “We actually have not received any response. We have consistently sent notices, even show cause-orders, requests for them to renew their bonds,” said Garin. “They’re not complying the requirements in accordance with GEA contract. We waited until last minute, hoping that they will deliver. They have failed to deliver. The last deadline was on December 25, 2025.” Solar Philippines also failed to renew its performance bonds worth around P14 billion. “They need to pay the penalty for these terminated contracts. It’s a big amount. For performance, financial, administrative, and contractual, we are still doing the numbers because these are a lot of contracts. “But if we talk about Solar Philippines, about P24 billion in total. This would include performance bonds because many of the performance funds have not been renewed. Second is the contractual obligation which means the cost of the project supposedly. And then, third would be the financial obligations which means the training and development fund and other obligations indicated in the contract. So, in total, roughly about P24 billion,”

said Garin. Leviste recently drew the attention of the Office of the Ombudsman over the alleged sale of his mega-franchise without approval from Congress. Ombudsman Jesus Crispin Remulla earlier said in his regular radio program that Leviste is trying to divert the attention of the public over the possible legal consequences of the sale of his power franchise by using his position as congressman to make haphazard revelations on the flood control scandal involving officials of the Executive and Legislative branches of the government. Garin said the DOE will work to compel non-compliant RE developers to pay whatever amount they owe to the government. “We will pursue the imposition of their contractual and financial obligations. This is enough a reminder to our developers that if you join GEA, it’s a commitment to the country to deliver and if you do not, then we will go after you. “The DOE has done all the documentary requirements and notices...We have already talked to the Department of Justice and the Solicitor General on the options See “Solar PHL,” A2

HE Philippine passport’s visa free score declined from January 2025 through January this year, but it climbed two places in the global ranking mainly due to increased consolidation among higherranked countries, according to a study released by the Henley Global Mobility Report. Scott Moore, Henley and Partners managing director and Asia head of private clients, said the Philippine passport has performed broadly in line with the global average, against a backdrop in which many passports experienced declining mobility as visa-on-arrival regimes were phased out. During the period, the Philippines visa-free score declined by three points, from 67 to 64, due to the loss of access to Pakistan, Mauritania and Somalia, all of which introduced eVisa systems over the past year. The country’s passport, meanwhile, climbed two places in the global rankings, rising from 75th to 73rd, largely due to increased consolidation among higher-ranked countries. “Over the past decade, the Philippines has demonstrated notable stability, improving both its ranking and visa-free score by three places,” Moore

said in an emailed statement. “On the inbound side, the Philippines took a significant policy step in 2025 by granting visa-free access to Indian nationals. Beyond this move, its openness policy has remained largely unchanged in recent years,” he said. He said the Philippines decision to open to India comes at a critical time, as Chinese tourist arrivals declined in 2025, visa-free access for Indian travelers is expected to help diversify source markets, offset visitor losses, and support domestic tourism revenues. “As a result, the Philippines performs strongly on openness. On the Henley Openness Index, it ranks 16th globally, granting entry to 81.34 percent of the world’s nationalities,” the report said. This openness, however, is not matched by reciprocal access abroad. Filipino passport holders only enjoy visa-free access to just 28 percent of global destinations. “This asymmetry is largely driven by international perceptions of migration and overstay risk, as well as income disparities. Over time, strengthening outbound travel compliance data, improving income levels, and pursuing targeted visawaiver diplomacy will be key levers for enhancing the global See “Passport,” A2

BCDA renews call for bids for ₧2.5-B passive ICT infra in Clark City By Andrea E. San Juan

TATE-RUN firm Bases Conversion and Development Authority (BCDA) has renewed its call for bids from parties interested in leading the “commercialization” of the P2.5-billion passive information communications technology (ICT) infrastructure in New Clark City. In a statement on Tuesday, the BCDA Prequalification Bids and Awards Committee (PBAC) reminded prospective joint venture (JV) partners to submit their proposals for the P2.5-billion project on or before February 16,2026 at 1:00 PM at the BCDA Corporate Office in Taguig City. The project involves the commercialization and, as necessary, the expansion, repair, and maintenance of passive ICT infrastructure in New Clark City. “We invite interested parties to join us in this massive undertaking, which offers a unique opportunity to help shape New Clark City into a smart and digitally connected metropolis,” said Hedda Rulona, BCDA Senior Vice President for Investment and Financial Management and chairperson of the BCDA PBAC. The state-run firm said its prequalification bids and awards arm aims to wrap up the bidding process and sign the JV agreement with the winning bidder by May this year. BCDA explained that the JV selection process is being carried out in strict compliance with Republic Act No. 11966 or the PPP Code and its

implementing rules and regulations. To ensure a fair, transparent, and competitive bidding process, the BCDA said it has also tapped the Asian Development Bank (ADB) as its transaction adviser for this venture. With an estimated cost of P2.5 billion, the project will be implemented under the Open Access Fiber” model to establish a “robust” fiber infrastructure and competitive market for ICT services for government agencies, enterprises, and residents in New Clark City. According to BCDA, this model will allow multiple data transmission providers (DTPs) to utilize the same physical network and split associated costs, enabling them to provide “affordable, innovative and carrier-grade” ICT services to third parties. “The Open Access Fiber model will also serve as a foundation for smart city development and e-government solutions in New Clark City,” BCDA noted, adding this will “set the stage” for the transformation of New Clark City into the country’s first smart and future-ready metropolis. BCDA President and CEO Joshua M. Bingcang said this project aims to provide fast, reliable, and affordable internet connectivity to all residents and businesses in New Clark City. “This initiative will significantly boost the city’s competitiveness, attract high-value, and technologydriven industries, generate highly skilled jobs for Filipinos and ultimately, improve the overall quality of life,” added Bingcang.

BOC HITS THE GROUND RUNNING The Bureau of Customs (BOC) kicked off the year with one of its biggest tobacco hauls yet—over P105 million worth of smuggled cigarettes in Dinalupihan,

Bataan. Operatives from the Customs Intelligence and Investigation Service (CIIS) and the Enforcement and Security Service (ESS) at the Port of Limay inspected a compound in Barangay Santa Isabel on January 9, 2026, and found 12 motor vehicles loaded with around 1,030 master cases of cigarettes from China, Vietnam and Korea. “This successful operation demonstrates our relentless drive to combat smuggling and protect government revenue. Through collaboration and cooperation among government agencies, we can work together to solve this problem and ensure that those who attempt to circumvent our laws are held accountable,” Customs Commissioner Ariel F. Nepomuceno said. Story in A8. PHOTO COURTESY OF BOC

₧2-B Mindoro port to cut costs, lift economy By Ada Pelonia

@adapelonia

HE Department of Agriculture (DA) said the P2 billion deepwater port in Mindoro could cut food costs and boost the local economy. Agriculture Secretary Francisco Tiu Laurel Jr. expressed support for the construction of a deepwater port in Abra de Ilog, Occidental Mindoro, calling it a “structural solution” to high food prices and long-standing farm-to-market bottlenecks. The proposed P2-billion port can accommodate large vessels and move farm products more efficiently between Mindoro, Luzon, and export markets. It will be implemented by the Philippine Fisheries Development Authority (PFDA).

Tiu Laurel said the Mindoro project would provide cheaper logistics that ultimately translate to more affordable food. “Shipping in bulk reduces food costs from inputs to final products, making modern port infrastructure a critical lever in addressing food inflation,” he said. The DA chief noted that President Ferdinand Marcos Jr. plans to complete a chain of at least 10 deepwater ports to complete a logistics network. Such a network will boost economic growth, generate investments, create jobs, cut production cost, stimulate interisland trade, and ensure food security, he added. The agency explained that Abra de Ilog already serves as a maritime gateway through its roll-on/roll-off (Ro-Ro) link to Batangas, but lim-

ited capacity has constrained its economic potential. The proposed deepwater port aims to unlock that growth, building on recent Philippine Ports Authority (PPA) upgrades such as port expansion, additional Ro-Ro ramps, breakwaters and dredging works, the DA said. The Mindoro port project will include a finger pier, a modern fish market, cold storage and ice plants, warehouses, wastewater treatment facilities, solar power systems and reefer vans. “These components could reduce post-harvest losses and ensure compliance with export-grade food safety standards.” Meanwhile, the DA noted that the port could also reshape regional trade flows.

With the expected ease congestion at the Batangas port and shorten shipping times, Abra de Ilog could emerge as a “cost-efficient transshipment hub for fish, meat, poultry, fruits, and vegetables, which are critical as producers face thin margins and volatile fuel costs.” As such, the DA said the port’s construction could generate local jobs, while long-term operations could attract logistics providers, processors, fuel suppliers and tourism-related businesses. The construction is expected to take about 2 years once approved. “The Abra de Ilog port is a targeted intervention to cut input and food costs by fixing logistics bottlenecks and building a more efficient gateway for agricultural trade,” Tiu Laurel said.

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, January 14, 2026

PCC gives nod to Japanese investor’s entry into CLI unit

By VG Cabuag

@villygc

EBU Landmasters Inc. (CLI), a regional property developer, on Tuesday said it secured the green light from the Philippine Competition Commission (PCC) for the proposed subscription by Japan’s NTT UD Asia Pte. Ltd. to 40 percent of the voting shares of CLI Luzon Ventures Inc. CLI Luzon, a unit of the company, was established to spearhead developments in Luzon. Last October, CLI broke ground on the Wave Towers, starting with its first tower Nagomi, the P9.2-billion

first phase of the development. The said development is its collaboration project with Japan’s NTT Urban Development (NTT UD) Asia under their joint venture CLI NUD Ventures Inc.

The company had said it will launch its first foray in Luzon in Pasig area by late this year. CLI Executive Vice President and COO Jose Franco Soberano said the company has already acquired its first Metro Manila property, a 3.5-hectare real estate in Pasig. Soberano said the company will wait for “the dust to settle” on the oversupply of residential condominium units in Metro Manila. “We looked at the urban center of Metro Manila, because we see long term opportunity. We just saw reports that the oversupply (of middle-income condominiums) from 18 months is down to 30 plus now,” Soberano said. “I think once the dust settles, there’s still that prevalent backlog, and then we narrow it down into the specific districts that will need more of these homes. So, we’re really tar-

geting the middle- to upper-middle segment for this first entry, because CLI is really very specialized in this economic to middle-, upper-middle market, because we have proven our products here.” Soberano said the Pasig property will be developed under CLI’s garden series or under the Casa Mira brand although these are still in the planning stage. The development may involve a total of 5,000 units, in about seven to nine towers, spread in about seven to 10 years of phased construction. “We have one and a half years to come up with that edge. We will look for that differentiating factor in terms of affordability level. At that market segment, that’s in the P3-million to P7-million-peso range that that we are really looking at,” Soberano said.

St. Joseph Drug branch opens in QC A romeo, president and CEO of AC Health, said. “By working together across our ecosystem, we turn integration into real, everyday impact as we continue to transform health for every Filipino.” St. Joseph Drug is a dominant pharmacy chain in North Luzon with about 130 stores and 67 years of retail pharmacy history. It was founded as a family-owned business that originated in Dagupan City, Pangasinan AC Health, the healthcare arm of conglomerate Ayala Corp., is aiming

to become a $2-billion healthcare enterprise by 2035. To achieve its 2035 ambition, AC Health said it will continue to deepen and expand its presence in key cities through organic and inorganic expansion of its hospital and clinic network. The company will also expand its retail pharma presence nationwide through a multi-brand retail approach. Key milestones in the next three years include growing its ecosystem to 1,150 retail pharmacies, 300 clinics and 10 hospitals. VG Cabuag

YALA Healthcare Holdings Inc. (AC Health) on Tuesday said it opened a St. Joseph Drug store branch inside Healthway FEU-NRMF Medical Center, the brand’s first location in Metro Manila and introduced its pioneering outpatient store format. Healthway FEU-NRMF is the only level 3 hospital in Quezon City District 3. “Our mission has always been clear: to serve every community-whether big or small, urban or rural--and to make healthcare accessible to all. This partnership

with Healthway FEU-NRMF Medical Center is more than just a collaboration; it is a stepping stone toward AC Health Group’s shared vision of transforming health for every Filipino,” Paolo C. Bernal, St. Joseph Drug’s chief strategy and innovations officer, said. As part of the AC Health group, both St. Joseph Drug and Healthway FEU-NRMF bring “complementary strengths” to the partnership, AC Health said. “For us at AC Health, this reflects how synergy across our ecosystem comes to life,” Paolo Bor-

SK Hynix to build new AI memory chip plant

S&P 500 sets new record amid Trump-fed autonomy scuffle

K Hynix Inc. plans to spend 19 trillion won ($12.9 billion) building a new advanced chip packaging facility, kicking off a major expansion aimed at meeting surging demand from AI applications. The South Korean company will begin construction of the complex in the southern city of Cheongju in April with the aim of completion by the end of 2027, according to a statement on the chipmaker’s website. SK Hynix is the world’s leading supplier of highbandwidth memory (HBM) for Nvidia Corp.’s AI accelerators. The outlay comes as a tightening global memory supply threatens to constrain AI investment. Demand for HBM and other advanced memory chips has surged faster than anticipated as data center buildouts accelerate. Memory — once treated as a commoditized component — has become a bottleneck that directly limits how quickly data centers can bring new AI accelerators online. Suppliers are seeking to boost output of more advanced chips, but long qualification cycles, complex packaging, and limited fabrication capacity mean shortages are likely to persist, keeping pricing firm and giving memory makers unusual leverage over customers. That imbalance is prompting major memory producers like SK Hynix, Samsung Electronics Co. and Micron Technology Inc. to rethink capital expansion plans and accelerate investments in advanced packaging lines. Bloomberg News

S stocks advanced to a record Monday amid a renewed debate around the “sell America” trade following President Donald Trump’s latest attack on the Federal Reserve. The S&P 500 Index finished 0.2 percent higher in New York, setting a fresh all-time closing high. The Nasdaq 100 Index rose 0.08 percent, while the Cboe Volatility Index hovered at around 15. Fed Chair Jerome Powell said Sunday the central bank had been ser ved grand jur y subpoenas from the Justice Department in relation to his congressional testimony on ongoing renovations of the Fed’s headquarters. Powell added that the threat of criminal charges were a “consequence” of the Fed not following President Donald Trump’s preferences for interest rates. “We don’t expect any investigation into Powell to affect markets in any meaningful way,” said Rober t Edwards, chief investment officer at Edwards Asset Management. “The market already knows that Powell’s term as Chair has just months left and the market is looking through any headline risk involving the Fed.” The president’s latest broadside against the Fed poses a threat to the US stock market,

according to JPMorgan’s trading desk. Any de-escalation of the president’s push to upend Fed independence may result in a short-term buying opportunity, according to Andrew Tyler, head of global market intelligence at JPMorgan. “The US equity and fixed income markets regard the independence of the Federal Reserve as paramount,” said Sam Stovall, chief investment strategist at CFR A Research. “Each is keenly aware that over stimulating the economy through overly aggressive rate cuts would fan the flames of inflation.” Trump has frequently butted heads with Powell and the Fed since the beginning of his second stint in the White House. This has included attempting to fire Governor Lisa Cook, as well as repeated calls for aggressive rate cuts. The threats to the central bank’s autonomy has rattled markets before. Now, Trump faces rare opposition from key Republican lawmakers. Senator Thom Tillis, a key GOP on the Banking Committee who is not running for reelection, vowed quickly on Sunday to oppose any Trump nominees to the Fed until the matter is resolved. “There are glimpses of the ‘Sell America’ trade that we saw in the first half of last year, fea-

turing the rare combination of yields rising as the greenback drops,” said José Torres, senior economist at Interactive Brokers. The “sell A merica” sentiment rippled through markets following the Trump administration’s escalating attacks on the Fed, with the dollar and Treasuries dropping Monday. “Political pressure on the Fed is a market risk — not a sideshow,” said Mark Malek, chief investment officer at Siebert, adding that bond markets are “signaling concern early” and that higher yields “pose a real challenge for growth stocks.” Abercrombie & Fitch Co. plunged 18 percent after the apparel retailer’s holiday sales disappointed investors. Sarepta Therapeutics Inc. slumped 11 percent after the biotech reported preliminary Elevidys revenue for the fourth quarter that missed consensus estimates. JPMorgan Chase & Co., Capital One Financial Corp. and other US banks sank after Trump called on credit-card companies to cap interest rates at 10 percent for a year. Meanwhile, precious metals and mining stocks rallied as gold and silver climbed to records in a broad-based rally linked to the Fed being threatened with criminal indictment. Bloomberg News

Araneta’s Ticketnet taps Google Wallet

PHOTO FROM WWW.QUEZONCITY.GOV.PH

By Andrea E. San Juan @andreasanjuan

OVIE and concert goers as well as sports fans may now digitally purchase and store tickets with Ticketnet’s integration of Google Wallet into its service, the ticketing firm said. Irene Jose, chief operating officer of Uniprom Inc., the parent company of Ticketnet and a business unit of Araneta Group of Companies, said in a statement on Tuesday that it is one of the first services that will integrate Google Wallet in its system. “This will mean easier access and more convenient ticketing for our customers,” said Jose. With the integration of the e-wallet, she said physical tickets would no longer be required. “Just whip out your phone, have it scanned and you’re ready to watch a movie, see your favorite artists perform in a concert, or even cheer for your sports teams,” she noted. The ticketing firm said ticket buyers will start to find an “Add to Google Wallet” button when accessing their mobile ticket. With a single tap, eventgoers will be able to store their event or cinema

tickets directly in Google Wallet, giving them “fast, secure, and seamless access on the day of the show.” Ticketnet said the integration taps directly into Google Wallet’s API or Application Programming Interface, allowing digital tickets to live in the same space where users keep their payment cards, IDs, and passes. “We’ve always believed in the power of technology to elevate our entertainment and sporting experiences. This is yet another proof that underscores our commitment to our customers,” Jose said. Ticketnet said it was among the launch partners of Google Wallet as it rolled out in the country last November. “The move also aligns with the broader direction of entertainment venues and ticketing platforms worldwide, where digital wallets are becoming a standard companion for fans heading to concerts, games, and movies,” it said. “We are excited for you to try out this integration with Google Wallet. We know that this will simplify and change how you purchase and use your tickets and we’re excited to bring you more technological solutions to elevate these types of everyday experiences,” Jose said.

Companies BusinessMirror

Wednesday, January 14, 2026

PSE STOCK QUOTATIONS

January 13, 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 CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PHIL NATL BANK PSBANK RCBC SECURITY BANK UNION BANK COL FINANCIAL DOMINION HLDG FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

43 140.8 9.2 123.9 63.05 14.86 12.24 71.5 7.5 61.55 56 25.9 67.85 26.95 1.38 1.44 4.8 0.101 2,030 0.78 202.6 3,550 0.99

43.25 141.2 9.22 124 63.15 15.98 12.34 71.6 7.77 62 56.55 26.3 68.1 27 1.41 1.46 4.85 0.106 2,080 0.8 203 3,600 1.03

42.7 142.5 9.28 123.4 63 15.92 12.24 72.3 7.8 58.6 57 25.75 68.45 27.45 1.38 1.45 4.8 0.103 2,100 0.84 203 3,550 1.02

43.3 143 9.3 124 63.6 16 12.4 72.7 7.8 63 57 25.9 69.65 27.45 1.38 1.46 4.8 0.103 2,100 0.84 204 3,550 1.04

42.7 140.4 9.18 122.7 63 14.86 12.24 71.5 7.8 58.6 56 25.75 67.85 26.8 1.36 1.45 4.8 0.103 2,060 0.78 202.2 3,550 0.99

43 141.2 9.2 123.9 63.15 14.86 12.34 71.5 7.8 62 56 25.9 67.85 27 1.38 1.46 4.8 0.103 2,060 0.79 203 3,550 1.03

34,500 2,714,030 91,600 1,767,640 218,800 6,800 194,300 2,440,960 200 1,261,510 2,800 2,100 706,410 119,700 89,000 82,000 2,000 160,000 205 973,000 10,300 85 339,000

1,482,560 384,203,650 844,412 218,774,708 13,815,398.50 105,270 2,386,704 175,339,731.50 1,560 76,653,002.50 157,235.50 54,135 48,170,681 3,230,255 122,670 119,040 9,600 16,480 422,800 790,750 2,091,128 301,750 343,790

154,800 19,936,662 -280,600 52,197,379 8,231,496.50 457,728 1,519,908.50 12,115,254 -147,044.50 1,264,120.50 -32,880 381,100 -79,000 -481,238 301,750 -17,340

INDUSTRIAL ACEN CORP 3.04 3.06 3.03 3.09 3.01 3.06 16,729,000 51,082,770 -3,085,760 ALSONS CONS 0.54 0.54 0.53 0.53 0.52 0.53 123,000 65,190 0.83 0.83 ALTERNERGY HLDG 0.82 0.83 0.82 0.83 193,000 160,140 148,570 44.2 44.25 44.2 44.65 44 44.2 1,029,500 45,569,975 -238,760 ABOITIZ POWER 0.84 0.86 0.86 0.86 26,000 22,360 RASLAG 0.86 0.86 BASIC ENERGY 0.121 0.124 0.125 0.126 0.12 0.124 10,790,000 1,299,410 4.59 4.59 CITICORE RE 4.5 4.54 4.5 4.59 383,000 1,746,680 -1,054,300 19 19.04 19 19.1 19 19 336,500 6,398,358 -516,066 FIRST GEN 77.1 78.2 78.15 78.2 78.05 78.2 37,370 2,921,956.50 FIRST PHIL HLDG JOLLIVILLE HLDG 4.3 4.3 4.02 4.3 4.3 4.3 1,000 4,300 -4,300 MERALCO 239,858,680 577 583 591 593 576.5 577 412,050 -91,722,100 41.05 41.2 40.95 41.45 40.85 41.05 343,300 14,173,830 1,077,380 MANILA WATER 17.5 17.28 17.74 17.22 17.52 6,738,600 117,913,940 2,562,326 MAYNILAD 17.52 PETRON 2.81 2.9 2.84 2.9 2.76 2.9 3,065,000 8,687,490 -94,450 PETROENERGY 3.83 3.51 3.82 3.58 3.45 3.82 127,000 456,490 10,820 14.66 14.98 15.48 14.52 14.98 14,700 223,970 -13,122 PRYCE CORP 15.48 6.33 6.55 6.55 6.55 6.55 6.55 200 1,310 REPOWER ENERGY SEMIRARA MINING 30.45 30.5 30.95 30.95 30.35 30.5 1,173,400 35,824,245 -16,610,190 SYNERGY GRID 17.9 17.92 18.16 18.3 17.84 17.92 1,432,700 25,781,926 -2,917,084 9.38 9.39 9.38 9.8 8.9 9.38 1,520,500 14,040,985 873,329 SHELL PILIPINAS 10.68 10.72 10.48 10.76 10.46 10.7 206,400 2,193,208 205,010 SPC POWER SP NEW ENERGY 1.14 1.16 1.19 1.19 1.12 1.16 27,984,000 32,282,460 -1,173,690 TOP LINE 1.71 1.72 1.74 1.76 1.7 1.72 1,841,000 3,167,360 -34,410 0.51 0.53 0.51 0.53 35,000 18,440 AGRINURTURE 0.52 0.53 AXELUM 2.26 2.25 2.26 2.25 2.26 67,000 151,000 2.29 CNTRL AZUCARERA 10.2 10.2 10 10.18 10.18 10.2 10,000 101,998 -1,018 CENTURY FOOD 40.35 40.8 40.6 40.85 39.65 40.35 688,700 27,922,815 4,388,845.00 4.54 4.8 4.55 4.55 4.55 4.55 13,000 59,150 22,750 DEL MONTE 4.1 4.12 4.18 4.18 4.05 4.1 6,860,000 28,104,930 -2,465,020 DNL INDUS EMPERADOR 16.04 16 16.02 16.02 15.9 16 2,512,100 40,206,794 -5,722,492 SMC FOODANDBEV 56 56 55.5 55.85 55.5 56 104,940 5,866,383 -1,809,653 0.59 0.6 0.59 0.6 398,000 238,330 -125,400 FIGARO GROUP 0.6 0.6 0.375 0.39 0.375 0.375 0.375 0.375 10,000 3,750 ALLIANCE SELECT FRUITAS HLDG 0.66 0.66 0.64 0.66 0.64 0.64 34,000 21,800 294.2 GINEBRA 294.2 295 299 299 295 2,170 640,228 -584,274 205.6 207 207.8 208 205 207 1,300,480 -5,451,632 JOLLIBEE 268,549,064 2.4 2.42 2.44 2.44 2.39 2.4 3,212,000 7,722,680 -4,548,010 KEEPERS HLDG LIBERTY FLOUR 35.3 35.5 35.75 36 35.2 35.5 5,900 210,095 -14,200 MACAY HLDG 6 6.47 6.5 6.5 6 6 25,500 160,986 2.4 2.42 2.43 2.43 2.4 2.4 15,000 36,030 -7,200 MAXS GROUP 0.062 0.064 0.063 0.063 30,000 1,900 MG HLDG 0.064 0.064 MONDE NISSIN 5.94 5.95 6.04 6.14 5.93 5.95 9,880,800 59,285,804 -14,992,164 SHAKEYS PIZZA 7 7.1 7.19 7.19 7 7.1 102,800 719,843 -298,433 ROXAS AND CO 2.5 2.53 2.5 2.55 2.5 2.5 187,000 470,900 4.86 4.88 4.87 4.89 4.85 4.88 308,000 1,499,930 -705,360 RFM CORP 0.051 0.051 0.051 0.054 170,000 9,090 -1,620 SWIFT FOODS 0.054 0.054 UNIV ROBINA 73 73.1 71 73.55 71 73 3,863,780 281,190,489 57,670,619 VITARICH 0.56 0.55 0.55 0.55 0.54 0.55 360,000 196,900 2.15 2.2 1.91 1.91 2.15 547,000 1,174,030 949,700 2.15 VICTORIAS 0.495 0.5 0.495 0.495 0.495 0.495 150,000 74,250 ATN HLDG A ATN HLDG B 0.495 0.59 0.495 0.495 0.495 0.495 10,000 4,950 CONCRETE A 50.05 54.5 50 50 50 50 200 10,000 47 53 52.9 52.9 52.9 52.9 290 15,341 CONCRETE B CONCREAT HLDG 1.13 1.14 1.17 1.17 1.13 1.14 859,000 985,860 60,450.00 EEI CORP 2.66 2.69 2.69 2.7 2.69 2.69 40,000 107,650 10,810 MEGAWIDE 3.28 3.2 3.24 3.17 3.17 3.24 833,000 2,689,920 -162,530 15.02 15.6 16.5 15 16.4 3,000 47,200 -14,850 PHINMA 16.5 18.52 19.9 24.65 17.5 18.52 19,500 377,795 SUPERCITY 24.65 CROWN ASIA 1.71 1.71 1.68 1.67 1.67 1.71 378,000 641,140 73,100 EUROMED 1 1 0.98 1 0.99 1 21,000 20,930 4.9 5.26 5.34 5.34 4.9 4.9 7,700 37,904 MABUHAY VINYL CONCEPCION 14 14.1 14.46 14.46 14 14.1 20,200 285,376 112,800 GREENERGY 0.184 0.179 0.183 0.184 0.181 0.183 410,000 75,020 INTEGRATED MICR 4.01 4.03 4.12 4.12 3.96 4.03 1,603,000 6,477,130 -2,891,100 1.1 1.09 1.09 1.11 596,000 653,390 142,790 IONICS 1.11 1.11 11.02 10.62 10.62 11.1 192,100 2,122,382 PANASONIC 11.1 11.1 CIRTEK HLDG 0.74 0.74 0.73 0.74 0.72 0.74 1,119,000 825,930

HOLDING & FRIMS

ABACORE CAPITAL 0.305 0.31 0.31 0.315 0.305 0.305 4,770,000 1,473,100 ASIABEST GROUP 16.04 16.38 17.98 17.98 16.02 16.38 21,200 353,416 -61,870 AYALA CORP 504 504.5 505 508 500 504 440,160 221,907,700 58,040,600 30.5 30.55 30.95 31.25 30.55 30.55 410,400 12,614,420 -912,240 ABOITIZ EQUITY 7.93 8 8.09 8.09 7.93 7.93 703,200 5,634,923 -1,240,401 ALLIANCE GLOBAL ANSCOR 14.64 14 14.48 14.7 13.88 14 44,300 645,870 ANGLO PHIL HLDG 0.8 0.82 0.82 0.85 0.8 0.81 979,000 789,600 -544,000 7.37 7.38 7.46 7.46 7.36 7.37 336,900 2,494,584 -146,035 COSCO CAPITAL 10.66 10.72 10.8 10.82 10.64 10.66 3,520,300 37,580,224 6,295,320 DMCI HLDG FILINVEST DEV 4.74 4.75 4.6 4.74 4.6 4.74 17,000 78,620 FJ PRINCE A 2.23 2.57 2.24 2.24 2.24 2.24 1,000 2,240 606 609 605 616 605 606 153,300 93,806,435 81,965,310 GT CAPITAL 24.85 25 24.5 25.1 24.45 25 6,039,000 150,684,135 7,383,060 JG SUMMIT LODESTAR 0.36 0.34 0.35 0.35 0.35 0.35 100,000 35,200 3.82 3.82 LOPEZ HLDG 3.8 3.8 3.8 3.82 50,000 190,840 -38,120 15.16 15.24 15.46 15.46 15.14 15.16 2,726,300 41,573,876 1,523,292 LT GROUP 0.97 1.1 0.97 0.97 0.97 0.97 2,000 1,940 PACIFICA HLDG PRIME MEDIA 1.16 1.18 1.16 1.16 1.16 1.16 27,000 31,320 1.35 1.35 SOLID GROUP 1.34 1.35 1.35 1.35 18,000 24,300 724 730 733 734 723 730 248,580 181,138,625 -17,401,345 SM INVESTMENTS 83.9 84.95 85 85 83.75 84.95 233,700 19,811,362.50 -5,527,597.50 SAN MIGUEL CORP SEAFRONT RES 2.01 2.29 2.01 2.01 2.01 2.01 1,000 2,010 TOP FRONTIER 66 67 63.5 66.5 61.05 66 11,390 750,519 -32,250 PROPERTY AYALA LAND 23 23.05 23.1 23.15 22.8 23 6,886,900 158,369,465 52,458,050 AYALA LAND LOG 1.48 1.5 1.47 1.54 1.46 1.5 1,424,000 2,132,020 93,930 ALTUS PROP 8.4 8.67 8.36 8.4 8.36 8.4 9,500 79,768 0.4 0.42 0.405 0.405 0.405 0.405 120,000 48,600 ARANETA PROP AREIT RT 43.15 43.2 43.5 43.8 43.05 43.15 1,872,600 81,106,485 -11,597,400 A BROWN 1.05 1.05 1.04 1.04 1.04 1.04 510,000 530,650 104,000 CITYLAND DEVT 0.59 0.59 0.58 0.59 0.59 0.59 4,000 2,360 2.48 2.45 2.45 2.49 115,000 284,210 -2,470 2.49 2.49 CEB LANDMASTERS 0.7 0.71 0.73 0.73 0.71 0.71 1,394,000 997,820 -43,820 CENTURY PROP CITICORE RT 3.54 3.55 3.57 3.57 3.54 3.55 2,692,000 9,567,440 -126,970 DOUBLEDRAGON 9.41 9.4 9.4 9.4 9.35 9.4 56,400 530,064 -30,080 1.08 1.08 1.06 1.09 4,401,000 4,742,530 -42,800 DDMP RT 1.09 1.09 4.85 5 5 5.05 8,300 41,515 -1,515 DM WENCESLAO 5.05 5.05 EMPIRE EAST 0.115 0.115 0.113 0.112 0.112 0.115 5,440,000 614,680 112,000 FILINVEST RT 3.05 3.06 3.05 3.07 3.04 3.05 645,000 1,972,090 -920,620 0.82 0.83 0.83 0.84 0.83 0.83 2,523,000 2,097,170 -36,760 FILINVEST LAND 0.75 0.76 0.74 0.75 0.74 0.75 35,000 26,070 GLOBAL ESTATE GOLDEN MV 1,020 1,020 940 1,001 930 1,020 85 84,010 -10,010 KEPPEL PROP 2.73 2.73 2.33 2.73 2.7 2.7 4,000 10,860 0.51 0.52 0.51 0.52 0.51 0.52 60,000 31,120 CITY AND LAND MEGAWORLD 2.21 2.22 2.2 2.22 2.19 2.21 15,361,000 33,955,500 6,141,810 MRC ALLIED 0.84 0.85 0.87 0.88 0.83 0.85 48,547,000 41,132,490 -511,110 MREIT RT 13.92 13.96 13.92 14 13.9 13.96 681,300 9,501,602 -429,546 0.111 0.112 0.113 0.115 0.111 0.111 540,000 61,780 -1,130 OMICO CORP 0.217 0.219 0.219 0.221 0.217 0.218 850,000 185,530 -2,180 PRMIERE HORIZON PREMIERE RT 1.13 1.13 1.12 1.11 1.1 1.12 481,000 537,450 209,150 PRIMEX CORP 1.16 1.23 1.24 1.24 1.24 1.24 2,000 2,480 7.94 8 8.06 8.18 7.9 7.94 40,205,800 323,340,209 164,068,529 RL COMM RT 17.22 16.7 16.7 17.38 2,663,500 45,717,280 35,499,664 ROBINSONS LAND 17.38 17.38 PHIL REALTY 0.12 0.123 0.117 0.124 0.117 0.124 290,000 35,400 -8,400 1.89 ROCKWELL 1.88 1.9 1.9 1.87 1.89 313,000 590,320 3.69 3.7 3.66 3.69 3.64 3.69 168,000 615,790 SHANG PROP STA LUCIA LAND 2.3 2.54 2.54 2.54 2.54 2.54 1,000 2,540 SM PRIME HLDG 23.55 23.65 23.8 23.9 23.45 23.55 9,180,500 217,070,105 -72,703,375 VISTAMALLS 1.25 1.25 1.24 1.24 1.24 1.24 32,000 39,820 0.72 0.74 0.76 0.76 0.73 0.74 81,000 60,470 SUNTRUST RESORT VISTA LAND 1.34 1.35 1.31 1.35 4,248,000 5,678,770 3,410 1.35 1.35 VISTAREIT RT 1.49 1.49 1.48 1.49 1.47 1.49 752,000 1,113,900 97,430 WELLEX INDUS 0.26 0.28 0.265 0.265 0.265 0.265 50,000 13,250 SERVICES ABS CBN 4.01 4.04 4 4.04 3.98 4.01 289,000 1,156,990 GMA NETWORK 5.85 5.86 5.82 5.88 5.73 5.86 276,200 1,613,582 7 7 MLA BRDCASTING 6.75 7 6.75 7 3,500 24,450 0.74 0.75 0.76 0.76 0.73 0.74 10,111,000 7,497,680 -2,184,020 DITO CME HLDG 1,640 1,642 1,637 1,643 1,617 1,640 32,345 52,836,550 -20,744,225 GLOBE TELECOM PLDT 1,325 1,320 1,323 1,321 1,315 1,320 88,030 116,142,540 4,365,005 APOLLO GLOBAL 0.0058 0.006 0.006 0.006 0.0058 0.0059 98,000,000 576,100 15.86 16 15.58 15.26 16 12,254,300 194,587,790 -79,288,200 16.04 CONVERGE 0.76 0.78 0.79 0.8 0.76 0.77 124,000 98,590 -53,600 DFNN INC IMPERIAL 0.84 0.71 0.83 0.84 0.83 0.83 4,000 3,340 ISLAND INFO 0.124 0.126 0.125 0.127 0.125 0.125 840,000 105,050 0.67 0.69 0.69 0.69 0.67 0.67 198,000 134,970 -6,800 NOW CORP 0.138 0.14 0.142 0.142 0.137 0.14 780,000 108,450 15,070 TRANSPACIFIC BR ASIAN TERMINALS 34.65 34.75 34.65 34.8 34.65 34.65 31,000 1,075,720 72,870 CHELSEA 0.93 0.97 0.95 0.97 0.93 0.97 181,000 174,650 33.2 33.25 33.2 33.4 33.1 33.25 70,400 2,339,100 562,265 CEBU AIR 630 625.5 615 630 1,482,910 932,852,210 264,673,895 INTL CONTAINER 631 631 LBC EXPRESS 8.4 8.4 8.2 8.13 8.13 8.4 1,700 14,226 LORENZO SHIPPNG 0.57 0.62 0.57 0.57 0.57 0.57 1,000 570 4.64 4.67 4.7 4.65 4.65 385,000 1,796,940 835,060 4.65 MACROASIA 0.4 0.465 0.4 0.4 0.4 0.4 30,000 12,000 METROALLIANCE A PAL HLDG 3.85 3.85 3.81 3.81 3.81 3.85 73,000 280,930 -250,250 HARBOR STAR 0.61 0.61 0.58 0.59 0.58 0.61 125,000 74,610 1.41 1.41 1.41 1.45 55,000 79,600 1.45 1.45 ACESITE HOTEL BOULEVARD HLDG 0.037 0.038 0.038 0.039 0.038 0.038 13,300,000 505,500 7,600 DISCOVERY WORLD 1 1.03 1.05 1.05 1 1.04 177,000 180,050 38,060 PH RESORTS GRP 0.138 0.14 0.138 0.138 0.138 0.138 1,110,000 153,180 16.04 16.28 16.34 16.4 16.02 16.02 56,300 921,136 CENTRO ESCOLAR FAR EASTERN U 801.5 814.5 801 801 801 801 40 32,040 STI HLDG 1.36 1.38 1.4 1.4 1.36 1.36 2,237,000 3,066,140 -1,219,970 BELLE CORP 1.34 1.38 1.36 1.39 1.34 1.36 71,000 96,770 -5,440 2.63 2.64 2.67 2.61 2.63 6,508,000 17,123,710 -1,165,400 BLOOMBERRY 2.64 1.71 1.81 1.74 1.8 1.74 1.8 36,000 64,660 -3,580 PACIFIC ONLINE DIGIPLUS 15.82 15.58 15.6 15.8 15.08 15.58 7,657,800 117,440,286 -15,945,190 PHILWEB 6.33 6.34 6.34 6.4 6.18 6.33 3,885,900 24,300,145 7,400,595 0.033 0.034 0.034 0.033 0.034 7,500,000 252,800 ALLDAY 0.034 ALLHOME 0.265 0.27 0.27 0.27 0.27 900,000 243,000 35,100 0.275 METRO RETAIL 1.18 1.22 1.23 1.24 1.2 1.23 82,000 99,430 2,430 PUREGOLD 39.95 39.45 39.5 40.4 39.45 39.5 1,286,000 51,112,550 -19,118,100 35.5 35.65 36.1 36.2 35.35 35.5 206,300 7,336,810 -1,000,670.00 ROBINSONS RTL 36.7 36.95 36.95 37 36.7 36.95 135,200 4,984,540 -114,735 PHIL SEVEN CORP SSI GROUP 2.76 2.76 2.75 2.75 2.71 2.76 79,000 217,020 UPSON INTL CORP 0.69 0.71 0.71 0.71 0.71 0.71 11,000 7,810 WILCON DEPOT 7.18 7.19 7.19 7.4 7.17 7.19 4,000,000 28,847,418 3,452,212 0.107 0.116 0.112 0.116 290,000 32,560 APC GROUP 0.116 0.116 IPM HLDG 1.8 2.38 1.8 1.8 1.8 1.8 1,000 1,800 MEDILINES 0.255 0.255 0.246 0.246 0.246 0.255 370,000 92,140 -2,500 PAXYS 2.33 2.46 2.34 2.34 2.34 2.34 10,000 23,400 2,340 1.6 1.7 1.7 1.7 1.7 18,000 30,600 PHILCOMSAT 1.8 MINING & OIL 2.27 ATOK 2.2 2.3 2.3 2.2 2.2 20,000 44,320 -90 APEX MINING 13.62 13.7 13.82 14.28 13.56 13.62 12,690,200 177,005,498 35,953,472 7.36 7.44 7.19 7.45 7.19 7.44 3,068,100 22,610,921 8,346,169 ATLAS MINING 5.37 5.38 5.29 5.37 5.25 5.37 343,900 1,834,016 BENGUET A BENGUET B 5.4 5.4 5.11 5.2 5.01 5.4 2,700 14,226 DIZON MINES 5.09 5.2 5.09 5.38 5.09 5.2 27,300 142,980 0.295 0.31 0.305 0.305 1,240,000 383,900 0.31 0.31 EC VULCAN FERRONICKEL 1.9 1.9 1.97 1.9 1.94 4,294,000 8,330,640 1,607,480 1.94 GEOGRACE 0.125 0.12 0.121 0.13 0.113 0.125 5,550,000 693,330 LEPANTO A 0.211 0.212 0.201 0.222 0.201 0.211 150,030,000 31,497,560 0.21 0.212 0.202 0.219 0.202 0.21 4,830,000 1,018,890 -4,210.00 LEPANTO B 0.008 0.0081 0.0079 0.0082 0.0077 0.0081 323,000,000 2,552,600 MANILA MINING A MANILA MINING B 0.0079 0.008 0.0079 0.008 0.0079 0.008 41,000,000 325,900 0.83 0.83 MARCVENTURES 0.81 0.83 0.8 0.83 2,860,000 2,344,050 -8,100 4.43 4.5 4.38 4.56 4.38 4.5 18,987,000 85,326,860 -1,229,120 NICKEL ASIA 37 36.25 37.4 36.25 37.25 984,600 36,474,985 -2,667,055 OCEANAGOLD 37.25 ORNTL PENINSULA 0.46 0.46 0.44 0.44 0.44 0.46 470,000 213,550 PX MINING 11.6 11.68 11.5 11.8 11.44 11.68 22,088,800 257,902,332 74,194,894 0.0051 0.0052 0.005 0.0052 133,000,000 681,100 UNITED PARAGON 0.0052 0.0052 ENEX ENERGY 3.29 3.43 3.34 3.44 3.26 3.43 6,000 20,100 ORNTL PETROL A 0.011 0.012 0.011 0.012 0.011 0.011 10,000,000 116,200 ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 7,700,000 84,700 0.0088 0.0089 0.0089 0.0089 29,000,000 258,100 0.0089 0.0089 PHILODRILL PXP ENERGY 2.47 2.48 2.51 2.54 2.4 2.47 1,713,000 4,218,140 PREFFERED ACEN PREF B 1,080 1,090 1,080 1,090 1,080 1,090 65 70,300 AC PREF AR 2,496 2,504 2,504 2,504 2,504 2,504 50 125,200 AC PREF B3R 1,990 1,998 1,998 1,998 1,995 1,995 170 339,360 2,004 2,020 2,002 2,002 2,000 2,000 125 250,010 240,000 AC PREF B4R 98.05 99 98.05 98.05 98.05 98.05 20 1,961 BRN PREF A BRN PREF B 101.3 102 102 102 102 102 170 17,340 -17,340 BRN PREF C 106.5 107.3 106.5 107.3 106.5 107.3 7,350 787,716 35.4 35.9 35.5 35.9 35.4 35.4 5,200 184,550 -120,690 CEB PREF 1,005 1,029 1,007 1,007 1,007 1,007 120 120,840 -120,840 CLI PREF A1 CLI PREF A2 1,025 1,067 1,068 1,068 1,025 1,025 305 322,325 CPG PREF B 101 102.8 100.2 102 100.2 102 210 21,402 16,320 96.3 96 96 96.1 26,640 2,559,392 DD PREF 96.4 96.4 EEI PREF B 97.8 98.8 97.8 97.8 97.8 97.8 20 1,956 JFC PREF B 976 990 990 990 990 990 10 9,900 MWIDE PREF 6A 102.4 102.5 102.4 102.4 102.4 102.4 40 4,096 100.2 104 100.3 100.3 100.3 100.3 3,990 400,197 MWIDE PREF 6B MWIDE PREF 6C 103.9 105.8 105.8 105.8 105.8 105.8 100 10,580 PCOR PREF 4A 988.5 1,000 988 1,000 988 999 1,080 1,067,930 PCOR PREF 4C 1,008 1,018 1,018 1,018 1,008 1,008 30 30,440 1,015 1,049 1,015 1,015 1,015 1,015 320 324,800 PCOR PREF 4E SMC PREF 2I 74.4 74.5 74.5 74.5 74.5 74.5 47,700 3,553,650 22,350 SMC PREF 2L 79 79.1 77.8 79 77.6 79 48,360 3,785,266 SMC PREF 2N 79.2 80.65 80.2 80.2 80 80 1,000 80,132 80.95 81.15 81.05 81.3 81 81.15 620 50,255 SMC PREF 2O SMC PREF 2P 75.25 77 77 77 77 77 3,610 277,970 SMC PREF 2Q 75.4 77.3 75.4 75.4 75.4 75.4 13,400 1,010,360 SMC PREF 2R 76.05 77.5 76 76 76 76 40 3,040 75.65 77.85 76 76 76 76 70 5,320 SMC PREF 2S SMC PREF 2U 77.05 78 78 78 78 78 140 10,920 TECH PREF B2D 8.29 8.46 8.28 8.29 8.28 8.29 400 3,314 VLL PREF 2A 90 92.25 92.25 92.3 92.25 92.25 1,470 135,662.50 86.5 90 93 93 90 90 14,550 1,318,948 VLL PREF 2B

PHIL. DEPOSITARY RECEIPTS

ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.61 4.46 5.41 5.65 5.31 5.5 5.31 5.31 20,800 110,662 1.07

SMALL, MEDIUM & EMERGING

BALAI FRUITAS HAUS TALK ITALPINAS KEPWEALTH LFM PROP MERRYMART XURPAS NEXGEN ENERGY

0.335 1.02 0.9 1.2 0.04 0.43 0.248 3.08

1.08

1.09

1.11

1.07

762,000

831,100

2,220

0.35 1.05 0.91 1.35 0.041 0.445 0.25 3.1

0.35 1.03 0.9 1.2 0.04 0.435 0.25 3.08

0.355 1.06 0.91 1.2 0.04 0.435 0.25 3.08

0.335 1.02 0.9 1.2 0.04 0.43 0.25 3.08

0.35 1.05 0.9 1.2 0.04 0.435 0.25 3.08

900,000 499,000 46,000 2,000 500,000 460,000 170,000 4,000

311,000 519,930 41,430 2,400 20,000 198,200 42,500 12,320

30,900 -900 -1,200 -4,300 -

EXHANGE TRADE FUNDS FIRST METRO ETF

104.2

105

104 105 104 105 36,980 3,877,551 -188,503

www.businessmirror.com.ph

MPower, Burgundy Realty seal power supply deals

By Lenie Lectura

@llectura

URGUNDY Realty Corp. and Burgundy Corporate Towers Office Owners Association, Inc. have signed power supply agreements with MPower, the retail electricity supply arm of the Manila Electric Co. (Meralco). T he p a r t ne r s h ip b e t we e n MPower with Burgundy Corporate Tower was forged after the Energy Regulatory Commission (ERC) lowered the threshold for eligible customers from 500 kilo-

watts (kW) to 100 kW—with the transition set to begin in June this year. Burgundy Corporate Tower is the first customer to join the Competitive Retail Electricity Market

(CREM) following lowering of the eligibility threshold. “By joining CREM, we can explore cost saving options without requiring additional funding. Participating in this program and partnering with MPower will deliver meaningful cost savings for the building, making it a strategic and beneficial decision,” Burgundy Corporate Tower Property Manager Bernard T. Ortiz-Luis said. Located in Makati City, Burgundy Corporate Tower is a 38-storey strata-owned office condominium. With its planned transition, the establishment said it leads the way for other developments exploring, smarter and more strategic energy solutions under the ERC’s new threshold. The regulatory move strengthens customers’ power of choice by enabling more commercial estab-

lishments to qualify as contestable customers and benefit from retail competition and open access. “The lowering of the contestability threshold is a major step in expanding access to CREM, giving businesses greater flexibility and control over their strategies. I’m thrilled that Burgundy Corporate Tower is leading the way as a pioneer, setting a strong example of forward-looking energy management while fully leveraging the benefits of increased market competition,” Meralco Senior Vice President and Head of MPower Redel M. Domingo said. Meralco customers reached 8.18 million as of September last year. The utility company also reported a 14-pecent jump in core profit to P40 billion and an increase of 9 percent in net income to P36.8 billion from January to September 2025.

Orsted wins ruling to resume US wind project

US judge ruled Orsted A/S can resume building a wind farm project off the coast of Rhode Island while it challenges the government’s latest stop-work order, a major win for the Danish energy giant in an ongoing fight with the Trump administration over renewable energy. The Revolution Wind project, intended to power hundreds of thousands of homes in Rhode Island and Connecticut, “would be irreparably harmed” unless work was allowed to continue during the legal fight, US District Judge Royce C. Lamberth in Washington concluded Monday. The project is almost 90 percent complete. On December 22, the US Interior Department had ordered a 90-day suspension of five East Coast wind farm projects—including Orsted’s— citing undisclosed national security concerns. The order, which triggered several legal fights, marked President Donald Trump’s latest effort to hobble the industry as he champions fossil fuels. Lamberth’s ruling offers hope to developers facing a flurry of US moves to stop offshore wind projects Trump claims “lose money” and “destroy your landscape.” The same judge is considering Orsted’s request to continue work on its Sunrise Wind project near New York. And it could signal judges will rule favorably in suits over other suspended wind projects, ClearView Energy Partners said in a research note. In a statement, Orsted said “the project will resume construction work as soon as possible, with safety as the top priority, and to deliver affordable, reliable power to the Northeast.” After a two-hour hearing, Lamberth said the government’s claimed national-security concerns may have been a pretext to block the renewable energy project, and never fully explained why those issues couldn’t be remedied by Orsted. The administration also waited almost a month to issue the stop-work order after purportedly discovering new security risks, undercutting its claim that the situation is an emergency, the judge said. “I’m not persuaded any emergency exists in this case,” said Lamberth, who was appointed by President Ronald Reagan. He added that the stop-work order may have been “arbitrary and capricious” in violation of the Administrative Procedure Act, which requires government agencies to issue detailed reasons for major rule changes and

to allow time for public comment. A White House spokeswoman said the federal government will keep fighting offshore wind projects. “The Trump administration paused the construction of all large-scale offshore wind projects because our number one priority is to put America First and protect the national security of the American people,” said Taylor Rogers, a spokeswoman for the White House. “We look forward to ultimate victory on the issue.”

Other projects

IN addition to the Rhode Island development, Orsted filed a separate lawsuit seeking to resume work on its offshore wind project near New York. Challenges also have been filed by Equinor ASA’s Empire Wind and Dominion Energy’s Coastal Virginia Offshore Wind Commercial Project. Lamberth is scheduled to hold a hearing Wednesday on Equinor’s request for an order blocking the government’s stop-work order. Dominion shares rose as much as 0.7 percent in after-market trading. The administration initially halted work on the $5-billion Revolution Wind project in August, triggering a crisis for its owners and the industry as the installation was nearing completion. In September, a federal judge allowed construction to continue, but a second stop-work order was issued last month, when the Interior Department said the massive turbines may interfere with radar systems. In their request for a new preliminary injunction, project owners said the government’s December order was causing losses of about $1.44 million a day. They said they lost about $105 million from the first construction pause. The suspensions are part of Trump’s effort to aggressively thwart the growth of the industry as he rolls back Biden-era climate policies. Shortly after taking office, Trump issued an executive order pausing approvals for wind projects on federal lands and water, though it was recently ruled unlawful by a federal judge. Revolution Wind LLC, co-owned by Orsted and Global Infrastructure Partners, claims in its lawsuit that the administration violated its constitutional right to due process by abruptly blocking construction — twice. The company also claimed the stop-work order violated federal law because it was “arbitrary and capricious,” following years of planning and coordination with the US government. Bloomberg News

MUTUAL FUNDS

January 13, 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. -A226.38 3.03% 1.73% -0.39% -0.06% 5.41% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.2538 20.63% 16.98% 11.19% 8.03% 4.66% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 3.011 0.88% 0.06% -1.15% -1%5.24% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7815 7.07% 3.68% -0.74% N.A3.72% FIRST METRO CONSUMER FUND, INC. -A 0.582 -7.3% -5.63% -4.99% N.A 4.94% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.6034 -0.9% -1.58% -1.78% -0.41% 5.03% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6796 -1.45% -2.3% -2.42% N.A5.64% MBG EQUITY INVESTMENT FUND, INC. -A 91.14 26.6% 5.69% -2.44% N.A 2.82% PAMI EQUITY INDEX FUND, INC. -A 43.8952 0.94% -0.79% -1.61% 0.24% 5.89% PHILAM STRATEGIC GROWTH FUND, INC. -A 475.35 2.69% 1.3% -0.87% 0.14% 5.38% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.613 13.22% 10% 6.32% 4.04% 3.8% PHILEQUITY FUND, INC. -A36.4892 4.1% 1.94% 0.66% 1.62% 5.69% N.A PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9485 6.8% 2.33% 0.41% 6.08% PHILEQUITY PSE INDEX FUND, INC. -A 4.7354 2.74% 0.42% -0.55% 1.17% 5.7% PHILIPPINE STOCK INDEX FUND CORP. -A 779.14 1.71% 0% -0.89% 0.99% 5.78% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7457 4.19% 2.23% 0.34% -0.6% 5.82% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.3823 -3.03% -1.18% -1.73% -0.29%5.13% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8738 0.71% -0.47% -1.3% 0.68% 5.81% UNITED FUND, INC. -A3.43979.19% 2.35% 0.42% 1.87% 5.67% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0951 1.73% -0.09% N.A N.A 5.78% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0915 2.96% N.A N.A N.A 4.44% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9921 -3.97% -3.24% -2.2% N.A 4.63% PHILIPPINE STOCK INDEX FUND CORP. -A 939.67 0.99% -0.23% N.A N.A 5.77% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 106.0858 1.31% 0.27% -0.6% 1.51% 5.85% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0715 30.34% 5.49% -3.59% 2.84% 5.9% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.251 16.74% 15.31% 5.67% N.A 1.47% BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.2178 1.22% -0.81% 0.91% 3.57% 3.37% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.6791 7.39% 3.99% -0.09% 0.19%2.37% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5422 1% -0.38% -0.88% 0.15%3.19% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2381 8.38% 6.27% 3.46% N.A 3.3% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.063 3.96% 1.26% 0.79% 1.86% 2.99% PAMI HORIZON FUND, INC. -A3.9044 5.93% 3.52% 0.43% 1.37% 2.89% PHILAM FUND, INC. -A16.48452.35% 2.15% -0.72% 0.75% 2.83% SOLIDARITAS FUND, INC. -A2.1642 2.81% 2.15% 0.44% 1.22% 2.76% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.5249 0.84% 1.08% -0.5% 0.31% 2.44% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9333 0.8% 1.11% 0.7% 0.62% 2.29% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.991 2.85% 2.23% -0.77% N.A 1.23% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8774 2.18% 0.52% -1.79% N.A 4.06% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.8507 1.45% -0.02% -2.09% N.A 4.74% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03446 7.96% 2.14% -2.35% -0.27% 0.44% 28.31% 9.36% 0.68% 4.03% 2.83% PAMI ASIA BALANCED FUND, INC. -B $1.2377 SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.378 13.54% 10.82% 3.27% 6.09% 0.99% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1864 9.62% 5.97% 0.27% N.A 0.4% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A420.61 4.24% 3.59% 2.54% 2.69% 0.22% ATRAM CORPORATE BOND FUND, INC. -A 1.9603 2.75% 1.36% 0.61% 0.35% 0.12% COCOLIFE FIXED INCOME FUND, INC. -A 3.5878 3.41% 3.52% 2.21% 3.5% 0.18% EKKLESIA MUTUAL FUND, INC. -A 2.4601 3.88% 3.96% 1.4% 1.89% 0.25% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5733 3.25% 2.33% 0.99% 1.57% 0.14% PHILAM BOND FUND, INC. -A4.6258 4.28% 3.38% -0.01% 1.52% 0.4% PHILAM MANAGED INCOME FUND, INC. -A 1.5249 4.88% 4.81% 2.92% 2.81% 0.24% PHILEQUITY PESO BOND FUND, INC. -A 4.3237 3.77% 3.64% 1.65% 2.29% 0.18% SOLDIVO BOND FUND, INC. -A1.1232 4.21% 3.22% 1.57% 2.07% 0.21% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.5645 4.04% 4.08% 2.19% 2.84% 0.37% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8925 3.9% 3.6% 1.61% 2.22% 0.39% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) $529.43 3.71% 3.24% 1.85% 2.35% 0.13% ALFM DOLLAR BOND FUND, INC. -A ALFM EURO BOND FUND, INC. -AЄ223.75 2.35% 2.14% 0.4% 0.83% 0.03% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0749 4.21% 1.87% -3.2% -0.19% -0.02% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0264 6.45% 3.52% 0.08% 0.83% -0.38% PAMI GLOBAL BOND FUND, INC. -B $1.0574 22.75% 6.99% -0.55% 0.02% -0.18% PHILAM DOLLAR BOND FUND, INC. -A $2.4783 7.63% 4.37% -0.26% 1.56% -0.02% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0644327 3.62% 2.4% 0.71% 1.5% 0.03% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9193 7.48% 2.17% -1.75% 0.23%-0.33% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1674 3.06% N.A N.A N.A 0.13% ALFM MONEY MARKET FUND, INC. -A 149.09 4.48% 3.8% 2.8% 2.69% 0.26% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.1993 3.91% 3.73% 2.73% N.A 0.18% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.4834 3.93% 3.46% 2.72% 2.66% 0.17% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 114.11 4.33% 4.29% N.A N.A 0.22% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1775 3.05% 3.22% 2.26% N.A 0.12% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 46.7993 5.19% 2.16% N.A N.A 1.5% SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.213 24.41% 20.45% 13.87% N.A2.24% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1277 6.04% N.A N.A N.A 1.68% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.8205 3.95% 0.11% -3.69% N.A 0.58% 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. * THE FIRST TRANCHE (CORPORATE DEBT FUND 1) OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. MATURED ON MAY 25, 2025.

“While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU.”

www.businessmirror.com.ph

Entrepreneur BusinessMirror

Editor: Vittorio V. Vitug • Wednesday, January 14, 2026 B3

KFC Philippines eyes 100 new branches, invites investors to join provincial push Ready. Fire! Aim.

IG ZIGLAR said that “you don’t have to be great to start, but you have to start to be great.” This is definitely true. While I’m a huge proponent of the 9010 Rule where 90 percent of sales success is planning and only 10 percent is execution, the key is still in the “start.” That’s right! No matter how elaborate your plan may be, it’s useless if you don’t implement it. I was in a firing range many years ago and on my initial attempts to shoot, I tried my best to focus on the target by painstakingly aiming on it, in the hope that I wouldn’t miss. Eventually, it reached a point where my arms and trigger finger trembled due to the strain of the firearm’s weight as I kept my aim. In the end, I realized that it took me so much time and effort just to pull the trigger. And that’s when I finally gained a momentary spark of wisdom— once you’re ready, proceed to fire, then simply adjust your aim afterwards. Ready, fire, aim. But this epiphany was not limited to the shooting range. In fact, I found it to be highly relevant in achieving success as a sales leader. Once you’re ready, proceed to fire, then simply adjust your aim afterwards.

Ready.

HOW do you know that you are now ready to begin? Well, assuming that you did the planning process correctly, a clear set of specific, measurable, achievable, relevant and time-bound (SMART) objectives, emanating from your “why” should now be on the table. Likewise, you should also have delineated project boundaries, along with the responsibilities and accountabilities expected from everyone involved. By this time, you already identified key potential risks, prepared for each possible scenario and determined the essential action steps to implement the plan. Of course it would help if you already have the right tools and data. However, waiting until you have the ideal tools of the trade is most often the cause of delay, along with the disease commonly referred to as analysis paralysis. Keep in mind that to proceed, you just need the most basic of tools and a success mindset triggered by that deepest why that rests in your heart.

Fire!

ONCE everything is set, immediately implement the plan. Do not delay, otherwise

you’ll lose a valuable success ingredient called momentum. Proceed with the plan while the excitement is there. Remember, execution is key, for a plan is useless without it. There is no such thing as perfection in implementing any plan of action. There will always be hiccups and bumps along the way, and in some instances, you may even be led astray. What matters most is that you take that first step forward, After all, “a journey of a thousand miles begins with a single step (Lao-Tzu).” I know of people who weren’t able to take a step to implement their plan due to fear of failure. Imagine, they failed because they feared failure! So if you plan to succeed, choose action over inaction and put urgency in moving forward.

Aim.

I MENTIONED earlier that many things can happen once you implement the plan, and that’s why adjustments must be made along the way. These strategic and tactical refinements should be guided by your SMART objectives and deepest why. The truth is that you will never really know what is to come until you take the steps beyond the familiar. Yes you may experience unplanned setbacks along the way, but such occurrences are normal in any project execution. Besides, these are but some of the risks involved in any success journey. I always remind our team to never fall in love with their output. Yes, they need to pour their hearts into what they do, but they should never allow themselves to become too attached to their accomplishments to a point where they will find it intensely difficult to enhance the original output. So once you implement the plan, refocus if need be in order to achieve your goals. In the Bible, James reminded us—“Do not merely listen to the word, and so deceive yourselves. Do what it says” (James 1:22). Ready. Fire! Aim. You got this! God bless. Alexey Rola Cajilig is the Founder, President & CEO of ARCWAY Consultancy Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of Life is a Classroom, The Effective Seller, Solving the Sales Puzzle and Practical Market Intelligence. Coach Lex is also the creator of ARCH Styles, a behavioral and personality assessment & discovery tool. If you have questions and suggestions, you may connect with him at https://www.facebook.com/coachlexey and at https://www.linkedin.com/in/ alexey-rola-cajilig.

By Rizal Raoul S. Reyes

@brownindio

NVESTING in a franchise is a major decision, one that requires confidence in the brand, the product, and the support system. For potential investors in the Philippines, few opportunities offer the same level of global recognition, local market strength, and proven operational expertise as a KFC (Kentucky Fried Chicken) franchise. Adrian Galindo, Franchise Management Director for KFC Philippines, confirms the brand’s position among the top quick-service restaurants (QSRs) both locally and globally. With over 430 stores nationwide, KFC Philippines is poised for a massive expansion, aiming to open at least 100 new stores in 2025.

peting fast-food outlets specializing in chicken simply cannot replicate.”Our chicken is very different... That’s what will really drive us.” To ensure product integrity, quality assurance begins at the source. KFC relies on a single, dedicated supplier for its chicken, guaranteeing freshness and consistency that meets the high expectations of its global customer base. While some ancillary products may be outsourced, the chicken remains central to the business, safeguarding the brand’s most valuable asset.

An aggressive expansion strategy

A strong operational support system

ACCORDING to Galindo, the thrust is clear: to expand the brand’s footprint nationwide, with a strong focus on bringing KFC closer to provincial markets and local government units that are actively clamoring for branches. This aggressive expansion drive is strategically underpinned by their innovative sub-franchising model. KFC anticipates that a projected 73% of new restaurant openings by the end of 2025 will rely mainly on this approach. In short, KFC is making a major push to rapidly expand its presence across the Philippines, especially in untapped markets, by making it more accessible for capable investors to participate in the brand’s growth. The investment required for an interested party ranges from P25 million for inline, mall-based stores up to P40 million for full-sized, stand-alone drivethru locations.

The competitive edge

THE foundation of KFC’s enduring success is its proprietary product: the Original Recipe Chicken. Galindo emphasizes that in a highly competitive market, KFC’s signature taste provides a distinct competitive edge that com-

ACCORDING to Galindo, a franchise is only as strong as the support it provides, and KFC has developed a sophisticated system designed to guide franchisees toward profitability. This support extends far beyond the initial setup and involves continuous performance monitoring. Franchisees receive a monthly assessment of their store’s performance, allowing for prompt identification of areas for improvement. He explains the relationship is built on open communication and active management. Franchisees have access to daily sales data and are part of regular business review meetings where critical metrics—sales, profit, labor costs, and more—are discussed collaboratively. These hands-on sessions are crucial for addressing local challenges and identifying specific opportunities. Furthermore, a direct line to the franchising team ensures that concerns, even those related to accounting, are addressed immediately, not just during quarterly reviews. This ensures the franchisee is never operating in isolation.

Site selection and development

ONE of the most critical factors in quality service restaurant (QSR) success is location, and KFC’s site development process is rigorous and highly detailed—a necessary protection for the franchisee’s significant investment. Galindo describes the journey from site identification to final approval typically involves a 45-day initial assessment, though the full approval process can take an average of two to three months due to multiple layers of vetting. This exhaustive, multi-level approval process minimizes risk and leverages deep institutional knowledge: n Business Development Team Review n Operations Manager and Head of Operation Presentation n General Manager and Global (Mexico) Approval Operational teams, according to Galindo, who are based regionally and do regular store rounds, are deeply familiar with local market dynamics. Galindo says this involvement extends to the choice of contractors and suppliers, all of whom must be approved by the principal franchisor to ensure brand standard adherence, while still being open to local franchisee feedback for improvements in design or layout.

Financial metrics and return on investment

GALINDO says profitability and return on investment (ROI) for a KFC franchise are heavily dependent on location and store format, but the brand’s deep experience allows for informed financial projections. Using a massive pool of over 430 existing stores, he says the company employs a “comparable store”

model to accurately project the performance of a new location. This rigorous “number crunching”—described as an “MBA case study”—is part of the visibility study provided to investors. He says the payback period (ROI) generally averages around three to five years. This relatively fast payback for a major QSR investment is driven by the brand’s high demand and operational efficiency. “Furthermore, the brand is evolving with the times, moving from old, heavy inline stores to smaller, more adaptable models (as small as 150 square meters) in response to shifts in dining patterns post-pandemic, ensuring future relevance,” he says.

Investor profile

THE typical KFC franchisee is often a family or Gen X individual, viewing the investment as a long-term legacy or a vehicle for business diversification. A key requirement that highlights the brand’s preference for stability and long-term commitment is the current prerequisite that the franchisee should own the property. This strategic move creates a dual revenue stream for the investor: profit from the store operation and rental income from the leasing arm to KFC, ensuring profitability through both channels. While day-to-day operational involvement may be minimal, franchisees are required to attend mandatory seminars and orientation sessions to fully understand the core of the business and their obligations in maintaining the KFC standard. They are also vital in local store marketing efforts, as they best understand the preferences and trends of their immediate customer base, completing a partnership model built for growth and mutual success.

Pangasinan cooperative offers free agri-skills training for OFW hopefuls By Hilda Austria

ALASIQUI, Pangasinan— A cooperative in Asingan town now offers free agricultural training skills to residents aiming to work overseas. Bantog Samahanang Nayon Multi-Purpose Cooperative chairman Rolly Mateo Sr. said Tuesday they established a learning center to provide affordable certificates for employment abroad. “It was somehow costly to attend

training and secure a certificate, so we decided to open our own site and run our own learning center,” Mateo said in Filipino. Training is free for Asingan residents, while others may enroll for P10,000, inclusive of board and lodging. Courses include dairy processing, animal management, and tractor driving, lasting up to 35 days. Mateo said some trainees who started in 2024 now work in Japan, New Zealand and Canada. PNA

OFFICIALS attend the first Kalabaw (Carabao) Food Festival in Asingan, Pangasinan, on April 19, 2024. The local cooperative now uses its expertise to offer free agricultural skills training to residents seeking overseas employment. PNA PHOTO BY HILDA AUSTRIA

Sagay City eyes to transform coastal community into creative village By Nanette Guadalquive

ACOLOD CITY—Sagay City in Negros Occidental is eyeing to transform Purok Bougainvillea in Barangay Old Sagay into a creative village to help capacitate the coastal community in producing local arts and crafts to boost the sustainable income of its community savings groups. The plan seeks to integrate creative industries into its livelihood programs after the Bougainvillea Community Savings Association (BOCSA) gathered PHP1.756 million in community funds from small weekly contributions and shared the amount among its 199 members last December. In a statement on Tuesday, Mayor Leo Rafael Cueva lauded the community-managed savings and credit association (COMSCA) of Purok Bougainvillea. “Community-led initiatives can create lasting change when people work together with discipline and trust. Even small contributions can grow into something that uplifts the entire community,” he added. Cueva said the experience of Barangay Old Sagay shows how community-managed savings can strengthen grassroots leadership and build financial resilience from within.

MEMBERS of Bougainvillea Community Savings Association groups of Barangay Old Sagay gather at C Chen Beach Resort in Sagay City, Negros Occidental in this photo taken sometime in December 2025. Their community fund from small weekly contributions totaling P1.756 million was shared among the 199 members. Based on COMSCA records, the total savings of PHP1.756 million was generated by BOSCA 1, BOCSA 1 Junior, BOCSA 2, BOCSA 3, BOCSA 4, BOCSA 4 Junior, and BOCSA 5. Each group has 21 to 32 members. The initiative began with the Bougainvillea Sikad Guides Association, who took part in two years of savings as part of the sustainability framework of Sagay City

tourism program. Using their savings, each BOCSA group conducted outreach programs within their community, such as rebuilding a neighbor’s house and conducting clean-up drives. BOSCA members also attended a training of trainers conducted by start-up development consulting company Engaging and Empowering Nation Builders in Learning, Research, and Social Entrepreneurship. Through this, they can help replicate the community savings scheme in other puroks and barangays in the northern Negros city. “Purok Bougainvillea is now considered the pilot community for COMSCA in Sagay City,” Old Sagay village chief Rogelio Sayam said, adding that through the COMSCA, members rely less on barangay assistance because they have pooled savings. City Social Welfare and Development Officer Henrik Ollano said the COMSCA initiative is a “scratch-to-riches” model that empowers communities through self-help. “This is a good tool for our communities and we hope to replicate this with the Pantawid Pamilyang Pilipino Program and implement this city-wide,” he added. Ollano said with the COMSCA, young people are also taught the value of money and saving early through junior saver groups. PNA

Banking&Finance BusinessMirror

Wednesday, January 14, 2026 • Editor: Dennis D. Estopace

PHL faces prolonged fiscal drag on slower infra spend

By Reine Juvierre Alberto

@reine_alberto

HE Philippines will face a prolonged fiscal drag, potentially lasting for two years to four years, as tighter scrutiny over public infrastructure spending slows budget execution. HSBC Asean Economist Aris D. Dacanay told reporters last Tuesday that the government will a “difficult time” spending this year’s P6.793-trillion national budget due to ongoing institutional reforms and heightened oversight of public expenditures. “It will be a tall order to meet targets. And because of that, there is more uncertainty in growth, and that uncertainty will likely lead to a higher saving rate,” Dacanay said. The national saving rate has

now exceeded the investment rate in the Philippines, which Dacanay described as “unusual” for a developing country. Citing surveys from the Bangko Sentral ng Pilipinas (BSP), Dacanay said that 50 percent to 55 percent of households choose to save, higher than pre-pandemic levels, as uncertainty over growth and jobs is driving precautionary saving. The government’s ongoing investigation into flood control projects, covering around P145 billion in infrastructure projects—far larger

than the P10 billion scrutinized during the 2013 pork barrel scandal—is contributing to the slowdown. Dacanay said economic growth could have slipped below 4 percent in the fourth quarter of 2025, as infrastructure spending plummeted by 40 percent in October alone. He noted that in 2013, the government only spent about 85 percent to 92 percent of its programmed budget for four straight years. With 10 percent of the workforce employed in the construction sector tied to projects under investigation, Dacanay said a lot of households have boosted their savings to prepare for the uncertain times ahead. Also, consumption is low and will remain tepid throughout 2026 to 2027, Dacanay said, “despite the higher wages [and] strong job growth, the saving rate of the Filipinos increased.” The good news, Dacanay said, is that the fiscal drag could accelerate the government’s fiscal consolidation agenda by improving its debtto-GDP ratio. When the government under-

spent in 2013, Dacanay said it was also able to garner the highly coveted investment grade status and bring the debt-to-GDP ratio below 40 percent. “We are underspending but at the other side of the same coin, we are consolidating our fiscal resources,” Dacanay said. The Philippines also has the demography to continue growing its economy above 5 percent, with its trade engines likely to be strong throughout the next three years. With electronics making up 60 percent of Philippine exports and the country emerging as one of the top suppliers of labelling and annotating services for the AI supply chain, Dacanay said the BPO and export sectors will likely endure. Moreover, Dacanay said weaker consumption and lower infrastructure imports could lead to a “drastic” improvement in the current account. A stronger current account could support the peso, giving the BSP room to cut interest rates even if the US Federal Reserve does not.

Bill seeks to relax restrictions in Bank Secrecy law By Butch Fernandez @butchfBM

MID growing public outrage over corruption in government, Senator Jinggoy Ejercito Estrada has filed a bill to relax certain restrictions under the Bank Secrecy law in order to allow the Bangko Sentral ng Pilipinas (BSP) to better scrutinize bank deposits in cases where there is reasonable suspicion of fraud or other unlawful activities. “Hindi dapat sinasangkalan ang bank secrecy para gumawa ng kalokohan. Kung may malinaw na dahilan ang BSP para maghinala na may katiwalian o iligal na gawain, dapat may kakaya-

han itong silipin ang mga account ayon sa batas [Bank secrecy should not be a reason to shield wrongdoing. If there’s a clear reason for BSP to suspect anomalies or unlawful acts, the central bank should have leeway under the law to test examine a bank account],” Estrada said. Under Senate Bill (SB) 1047, Estrada seeks to amend Republic Act (RA) 1405 (Secrecy of Bank Deposits law) to introduce carefully defined exceptions that would allow the BSP, in the exercise of its supervisory powers, and competent courts to look into suspicious bank accounts linked to bribery, fraud, money laundering, or other serious financial crimes. Under the measure, the BSP may

examine bank deposits when there is a reasonable basis to believe that fraud, serious irregularities, or unlawful activities have been or are being committed. Such inquiry must be authorized by the BSP’s Monetary Board and conducted strictly for official purposes only, such as investigating financial crimes or shuttered banks. The bill provides strong safeguards to prevent abuse, such as bank deposits cannot be examined during an election period if it would prejudice any candidate; funds deposited before the law takes effect remain protected; and the results of any examination cannot be disclosed freely and may only be used under strict conditions for criminal

prosecution. “These safeguards ensure that the law will not be weaponized for political harassment, while preventing bank secrecy from being used as a shield for corruption,” Estrada explained. The proposed amendments will apply to both peso and foreign currency deposits, striking a balance between protecting individual privacy and strengthening the government’s capacity to detect and prosecute financial misconduct. “By amending this law, we empower our institutions to go after dirty money, hold wrongdoers accountable, and restore public trust in government,” Estrada said.

Strong investor demand Private sector activity pushes down bond yields boosts BCDA’s revenues

IELDS on 7-year Treasury bonds (T-bonds) dropped last Tuesday, pushed by the strong demand from investors pricing in more cautious expectations over further monetary policy easing. The Bureau of the Treasury’s (BTr) auction committee was able to raise a total of P40 billion from the debt market. Broken down, the Treasury generated the full P30 billion it intended to borrow, as total tenders for the debt papers reached P95.765 billion. Demand was more than three times oversubscribed and was higher compared to the previous P79.666 billion in tenders for the same tenor last September 9, 2025. According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp., investors sought higher yields after monetary authorities hinted the rate cut delivered last December may be the last while a 25-basis-point rate cut remains possible in February if growth weakens. Ricafort said the slower economic growth at 4 percent in the third quarter of 2025 and still benign inflation at 1.8 percent in December could still support future local policy rate cuts amid recent political noise that could slow down some government spending, especially on infrastructure. Externally, Fed Fund Futures priced in two 25-basis-point rate cuts in 2026, more than twice the estimates of Fed officials, he added. The re-issued 5-year tenor Tbonds fetched an average yield of 5.710 percent, down by 6.2 basis points from the 5.772 percent re-

corded in the previous auction for the same tenor. The yield is also lower than its coupon rate of 6.125 percent. The average rate sought by investors was also slightly lower than the secondary market benchmark rate of 5.730 percent for a 5-year government IOU. Rates for the T-bonds ranged from a low of 5.675 percent to a high of 5.725 percent. The debt papers have a remaining term of five years and three days and will mature on January 18, 2031. Due to the overwhelming demand, the Treasury opened its tap facility window and raised an additional P10 billion via the 7-year tenor notes. Tenders for the security amounted to P52.414 billion, which was more than five times oversubscribed the offering. Next week, the Treasury aims to generate P27 billion from the sale of Treasury bills (T-bills) and P30 billion from T-bonds. This January, the Treasury will borrow a total of P108 billion and up to P160 billion, respectively, through its issuance of T-bills and T-bonds, as part of its full-year financing program worth P2.682 trillion. The government’s outstanding debt climbed to a new record high of P17.647 trillion as of end-November 2025, as the state incurred more obligations amid a stronger peso. (See: https://businessmirror.com. ph/2026/01/08/end-novembernational-government-debt-hits%e2%82%b117-647-trillionrecord-high/). Reine Juvierre S. Alberto

By Andrea San Juan

NCREASED private-sector activity in its economic zones, among others, propelled state-run firm Bases Conversion and Development Authority’s (BCDA) cash revenues to P14.1 billion in 2025, surpassing its target for 2025. In a statement on Tuesday, the state-run firm said revenues not only breached the P10 billion target by over 40 percent but also exceeded the P11.66 billion recorded in 2024 by 20.9 percent. The BCDA attributed its “strong performance” to its “solid” liquidity position and improved cash generation, backed by increased privatesector activity in its economic zones and the “strategic” use of land assets for priority national infrastructure projects. Our 2025 “results show that investor confidence in our economic zones is strengthening, driven by disciplined asset management and projects that are ready for execution,” BCDA President and Chief Executive Officer Joshua M. Bingcang said. “This allows us to convert land value into real cash flows that directly support government priorities.” Cash revenues refer to actual collections received within the year, providing a clear picture of BCDA’s liquidity and cash performance, explained the government-owned corporation. According to the BCDA, last year’s performance differs from prior disclosures based on accrual accounting reflected in audited financial statements, which include revenues recorded but not yet collected.

BCDA’s 2025 cash revenues were generated from a combination of land dispositions, lease arrangements, concession fees, and investmentrelated receipts across BCDA-administered economic zones. “These were supported by higher private-sector investments, improved performance of transportrelated concessions, and continued investor uptake in strategic growth areas such as New Clark City and Camp John Hay,” the state-run firm also noted. From the P14.1 billion cash revenues generated in 2025, an estimated P3.29 billion is expected to be remitted to support the Armed Forces of the Philippines (AFP) Modernization Program. This is on top of BCDA’s cumulative P103 billion contribution to the AFP Modernization Program and the replication of military facilities from May 1993 to December 2025, in line with Republic Act No. 7227 or the Bases Conversion and Development Act. Under the law, BCDA transforms former U.S. military bases and Metro Manila camps into centers of economic growth, generating revenues through land development and partnerships, while channeling proceeds to national defense, priority infrastructure, and socioeconomic programs of the government. Moving forward, Bingcang said BCDA remains “focused on sustaining strong cash performance, adding that this enables the state-run firm to reinvest in “high-impact projects, help strengthen national defense, and deliver long-term value for the Filipino people.”

www.businessmirror.com.ph

Technology and ‘Tech Neck’

HERE is no denying the benefits of technology. Our world has benefited a lot from the positive impact of technology and I do not need to outline the advantages because a lot has been written and said about these. However, we cannot also deny that there are also “downsides” such as cyber risks, social isolation, cyber bullying, fake news and the likes. Furthermore, there are also physical health risks; but maybe, just like me, some of us may not even be aware of technology’s pitfalls. I was just caught “off guard” one day when, after my weight training without my training coach, I felt an excruciating pain in my left upper that ran through my left neck. A Mayo Clinic study calls this ‘’tech neck.” It describes in its article dated April 10, 2024, how a “tech neck” is caused by using technological devices. When a person bends at 45 degrees to look at his mobile phone, the head that, on average, weighs 10-12 pounds puts a lot of pressure on the neck and upper back muscles. Considering that an average person spends three to four hours on their mobile phones and more if they use computers in their work or business. That is quite a lot of time when a person’s neck and upper back muscles are strained and pressed. That is why, even at the early age of forty, people start to feel the effects of this neck problem. Neck pain, according to this same Mayo Clinic study, is the fourth leading cause of disability, with an annual prevalence rate exceeding 30 percent and most of these are business people working on their computers or using mobile phones. Most of these may just be acute and the pain will just disappear with or without treatment. But 50 percent of those affected by this “tech neck” can be chronic and may have frequent occurrences causing some degree of discomfort or fatigue. I checked my mobile phone and found out I was using it for an average of 4-5 hours each day mainly for information purposes. The average hours spent online in the Philippines is 8 hours and 52 minutes making the country third in rank in the world in daily Internet use – behind only Brazil and South Africa. And I was relieved that I am still lower than the average. Furthermore, the majority of the users in the Philippines are in the 18-24 age group, (source: Global Digital Report 2025 dated June 2025). This means, that although they (18-24 age group) are not suffering from neck problems yet, because their neck muscles may still be

strong and not yet overused. But if they are not careful, the statistics of “tech neck” occurring at the start of age 40 may increase. And the Philippines, according to Kepios’s analysis in the 2026 Digital report indicates that the number of internet users in the Philippines increased by 789 thousand or +0.8 percent between October 2024 and October 2025, which is 98 million internet users. There is a total of 137 million cellular mobile connections in late 2025 representing 117 percent of the population. But the total population in October 2025 is only 117 million per United Nations data. The reason why cellular mobile connections of 137 million exceeds the total population of 117 million is because many people uses more than one mobile connections. Thus, the Philippines’s statistics may not only be one of the biggest number of users or mobile connections in the world (not only now but possibly in the future), but on the downside, maybe the highest in terms of cases that will be affected by “tech neck” if we are not careful. How to avoid and treat if you already have one? These are a few but there are more ways. For one, keep your screen at eye level whether computer or mobile phone. What I did was to place my computer and mobile phones on a stand so I am not tempted to look down. It is also important to take breaks. Maintaining good posture cannot be overemphasized by being conscious not to hunch forward which we usually do. Perform exercises too, that will strengthen your neck and upper back and stand. It is important to take breaks every 30 minutes to reset your posture and since sitting for long periods can tighten your muscles and increase neck pain (source: northeastspineandsports.com). And may I add, follow the 20-20-20-rule, which suggests that every 20 minutes look at something 20 feet away for 20 seconds (aoa.com) not only to prevent eye strain but will help rest your neck. Never neglect your neck or upper back pain because the longer it is treated, the longer it will heal and hopefully surgery will not be necessary. Technology advancement is good, but health is still wealth. Wilma Miranda is a FINEX Business Column Writer, the Managing Partner of Inventor, Miranda & Associates CPAs, Member - Board of Directors and Former Head of Business Development of Knowledge, Process, System Outsourcing (KPSO). The views expressed herein do not necessarily reflect the opinion of these institutions.

Automation seen to sap HIMS sector’s growth

HE annual growth of the country’s Healthcare Information Management Services (HIMS) sector may hobble due to a “triple-layered wave of disruption,” including AI and automation advancements, geopolitical developments and evolving market trends. Salin Kataria, board member of the Healthcare Information Management Association of the Philippines (HIMAP), emphasized that adapting talent strategies is “essential” as the sector hits $4.2 billion in revenues in 2024 and employs approximately 190,000 professionals. Kataria’s company, Carelon Global Solutions Philippines Inc., also noted that the industry is expected to continue expanding at a 9-percent annual growth rate through 2028. Carelon noted that the strengths of the Philippine HIMS sector lie in its “world-class talent pool and the proven expertise of Filipino professionals, which collectively deliver exceptional value to global healthcare clients.” However, the sector faces disruptions requiring “future-proofing” strategies, according to the firm. Kataria underscored the importance of transitioning from traditional upskilling to applied learning, which facilitates

the practical application of skills in realworld scenarios. “Applied learning elevates skills to the point where they can address realtime challenges,” Kataria explained. Without “effective” talent initiatives in place, the US-based healthcare services firm pointed out that a global talent shortage could potentially result in a $8.5 trillion dent in annual revenues by 2030, as suggested by consulting firm Korn Ferry. According to Carelon, it addresses applied learning through its Clinical Advancement University, “empowering nurses with critical skills to provide valuebased care and conduct complex reviews.” A pilot implementation showed a 21 percent increase in assessment and skills scores after nurses participated in online modules, received mentorship, and engaged in scenario-based practice. This, it stressed, led to improved structured thinking among participants. “HIMS companies should replicate this success by designing training programs based on actual cases and ongoing team evaluations,” said Kataria. “Blending online learning with mentorship has been effective in integrating learnings into daily operations.” Andrea San Juan

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Trail running legend Kilian Jornet advises beginners to enjoy the view and go easy BARCELONA, Spain—Hikers navigating rugged terrain may have noticed more people speeding along the same trail while leaping over rocks and roots like two-legged mountain goats. Trail running has exploded in popularity in recent years. The sport encompasses everything from off-road jogs on unpaved coastal paths to alpine ultra-marathons. Extreme versions are known as mountain running, which involves moving and sometimes scrambling uphill on varied surfaces, and sky running, which is done with even steeper inclines at altitudes above 2,000 meters (6,562 feet). Few elite athletes have done more to bring longdistance running in the wilderness to the mainstream than Kilian Jornet. The star Spanish mountain athlete from the Catalan Pyrenees holds numerous world records in both trail running and ski mountaineering. He is a four-time winner of Europe’s Ultra-Trail du Mont-Blanc, an ultramarathon that includes a 10,000-meter (32,808-foot) elevation gain over 170 kilometers (105 miles), and a five-time winner of the Hardrock Hundred, a similarly grueling endurance race in Colorado. Jornet shared his tips for beginners in an interview with The Associated Press. The interview was conducted via e-mail because he and his wife were caring for a new baby at their home in Norway. Answers were edited for length. What is the most important advice for someone who wants to start trail running? Don’t rush and enjoy it. Enjoy nature and the landscape, and gradually adapt your body to the terrain, the effort and the environment. You might start walking, then add short running sections. Choose easy trails, and focus on feeling good and safe. What is the most common mistake new trail runners make? Trying to go too far or too fast too early. The body needs time to adjust to elevation, technical terrain and impact. People also often underestimate weather changes or overestimate their energy. Don’t take athletes like me as an example! I’ve been trying every day for more than 30 years so my body is adapted to it, but if you’re starting it might be completely different. What would be a good distance and difficulty level for beginners? A 3 to 5-kilometer (1.8 to 3.1-mile) loop with gentle elevation and wide, non-technical trails. If you finish feeling you could continue, that’s a great sign of healthy progression. Two or three times a week is enough at the beginning. Mix walking and running. Focus on enjoyment more than volume. Should you already be a good runner before trying trail running? No. Road running can help, but it’s not a prerequisite. Trail running also requires other things like balance, coordination, and terrain awareness, all of which you can learn once you start. How is it different from running on a road or track in terms of safety? The terrain is more unpredictable (rocks, roots, mud) so you need more attention and stability. Weather changes faster in the mountains and help can be farther away, so you need to be prepared. Is it a sport for everyone or a specialist sport with risks? It’s for everyone, but it requires responsibility. You can choose routes that match your ability, from very easy to very technical. Always follow some basic safety (let your loved ones know where you go, etc.), respect your limits and progress gradually. And don’t forget to enjoy! Is it critical to run with someone else? Not critical, but helpful for beginners. Running alone can be wonderful, if you’re prepared. Whether alone or not, always tell someone your route and estimated return time. AP

Image BusinessMirror

Editor: Gerard S. Ramos • Wednesday, January 14, 2026

The year that taught you PHOTO BY MARCOS PAULO PRADO ON UNSPLASH

NEW year often arrives with an unspoken demand to start over, to aim higher, move faster, and prove more. Everywhere you look, there are reminders to set resolutions, define goals, and map out the next 12 months as if transformation should happen on command. But the most grounded way to move forward is not to rush into reinventing yourself. It is to recognize a simple truth that you are not starting from zero but from experience. The year that just ended has already shaped you, strengthened you, and quietly prepared you for what comes next. The past year may not have unfolded the way you imagined. There were likely moments of uncertainty, pressure and fatigue that tested your character. You may have faced delays, disappointments, or changes you did not ask for. At times, progress may have felt slow or invisible. Yet each challenge required you to adapt, to stay steady, and to keep going even when everything was not clear. These experiences were not wasted. They refined your judgment, stretched your patience, and built resilience you can now rely on. What once felt like setbacks are now sources of strength. Alongside the struggles were moments of growth that deserve more credit than you may give them. Progress is not always loud or dramatic. Often, it looks like showing up when motivation is low, choosing consistency over intensity, or continuing even without recognition. Perhaps you learned to manage your time better, speak up more honestly, or protect your energy more intentionally. Maybe you became more patient with yourself or more selective with what you say yes to. These changes matter. They are signs of maturity and self-awareness, and they form the foundation for sustainable progress. The year also helped clarify what truly matters to you. Through experience, you learned what drains you and what restores you. You saw how certain habits, routines, and environments affected your focus and well-being. You may have realized the value of rest, boundaries, or simplicity in ways that advice alone could never teach. This awareness is one of the greatest gifts the past year leaves behind. It means the year ahead does not have to be built on guesswork. You already know which choices support the life you want to live. People played a significant role in shaping your journey, as well. Some offered encouragement,

guidance, and quiet support when you needed it most. Others challenged you, disappointed you, or forced you to confront uncomfortable truths. Every interaction, whether positive or difficult, taught you something about connection, trust, and self-respect. As you move forward, you now have the clarity to nurture relationships that strengthen you and to step away from those that no longer align with who you are becoming. A new year is also an invitation to move forward with self-trust instead of self-judgment. It is easy to replay mistakes and dwell on moments you wish you had handled differently. But growth does not come from punishment. It comes from understanding. When you allow the past to teach you instead of define you, you create space for confidence and courage. Forgiving yourself is not about excusing errors. It is about acknowledging that learning often comes through missteps, and that improvement begins with compassion. As you look ahead, let your goals be informed by what you have learned rather than driven by pressure

PLASTIC Spinning Organizer and LED Mirror with Storage

or comparison. Ambition has value, but it becomes meaningful only when it is aligned with your reality. You now know more about your limits, your pace, and your priorities. You understand what kind of effort is sustainable and what leads to burnout. Use this insight to set intentions that are realistic, purposeful, and rooted in experience. Progress does not require perfection. It requires clarity and commitment. The year ahead is not about becoming someone entirely new. It is about becoming more grounded, more intentional, and more confident in your direction. You carry forward the resilience you earned, the lessons you absorbed, and the wisdom gained from showing up when things were uncertain. The path ahead may still hold challenges, but you are better equipped to face them with steadiness and perspective. The year that taught you has already done its work. Now, the year ahead is yours to shape. Step into it with patience, courage and purpose. You are ready, not because everything is predictable, but because you have learned how to move forward even when it is not.

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BED Linen Box

Keeping the good stuff: Decluttering as your New Year’s resolution

Kick off 2026 with new fitness goals at GH Mall READY to trade those holiday leftovers for a healthier habit? Ortigas Malls is turning GH Mall into the ultimate fitness playground this January with a high-energy lineup of sports and wellness activities designed to get everyone moving. Whether you’re looking to master a new sport or just find your flow, there is something for every fitness level throughout the month: ■ TABLE TENNIS ACADEMY (UNTIL JANUARY 31, MALL HOURS): Sharpen your reflexes all month long at the 4F Tech Hub. ■ PICKLEBALL PLAY (UNTIL JANUARY 31, MALL HOURS): Join the craze on the 5F and see what the pickleball hype is about. ■ MOTION IN GLOW (ZUMBA): Light up the 6F Roof Deck every Monday (January 12, 19, 26) from 5 pm to 7 pm. ■ STEP & GROOVE (DANCE CRAZE): Bring your best moves to the 6F Roof Deck every Wednesday (January 14, 21, 28) from 5 pm to 7 pm. ■ YOGA & BLOOM: Find your zen every Friday (January 16, 23, 30) from 5 pm to 7 pm at the 6F Roof Deck. Don’t forget to bring your own mat. Ditch the boring gym routine and join the community at GH Mall for a healthy, active start to the year.

BY PATRICK VILLANUEVA IF this is not yet a part of your New Year’s resolution, then consider yourself reminded. Do you find your room cluttered with a lot of things? Those unused cables, accessories, sentimental items, and maybe duplicated stuff could fill up your house very quickly after all, especially if you have a small space. If so, then make sure to add decluttering a part of your 2026 New Year’s resolution. It is easy to do, you’ll see a tangible outcome, and it is a motivator in bettering yourself. In no time, you will see improvement not only in your space, but also an improved lifestyle. Anko, Australia’s leading home and lifestyle retailer, recently hosted a decluttering workshop in their store at Trinoma, and to say that it is exactly the game-changer it was touted to be. The store has a variety of items that will make decluttering feel just like an activity embedded with a flair for aesthetics. Organizing space is why you start decluttering in the first place. As such, your big spare sheets and bedding could use Anko’s Bed Linen Boxes (₱400) so you could put all of them in order neatly. Meanwhile, another underutilized space is under

the bed. So, use it to store footwear with Linen-Look Underbed Shoe Organizers (₱490). With see-thru enclosures, you no longer have to look through shoe boxes to pick out which footwear you want and need. Another point is that your storage has to blend well with its surroundings. After all, most containers may look like something belonging inside the garage instead of your bedroom. And that’s where Anko’s Linen Look Tapered Rectangle Basket (₱440), 2 Tone Flat Felt Basket (₱530), and Rectangle Boucle Basket with Stripe Lines (₱440) come in because their warm neutrals and linen finishes as sizable containers can be perfectly in place in bedrooms, bathrooms, even utility areas. Lastly, never underestimate the mess that small things can make because they often go unnoticed. As such, you need to have Anko’s Clear Rectangle Turntable (₱530) and Plastic Spinning Organizer (₱250) so that stuff doesn’t just lie around. Decluttering is a chore, but it does not have to take your whole day. You can spend an hour or two, and you can already see big results. Just make sure that you let go of the unnecessary stuff while keeping the good things in. After all, that’s what we want to manifest with this New Year’s resolution.

B6 Wednesday, January 14, 2026

How an Overseas Filipino built her future and helped others do the same

very Filipino working overseas knows this quiet question by heart: After all these years of sending money home, will there be something waiting for me when I finally return?

For Hiyas Hosalla Nohra, that question followed her across countries—from Dubai to Singapore, and later to Cyprus— through years of long days, short video calls, and the constant responsibility of providing for family back home. Like many overseas Filipinos, Hiyas sent money regularly for rent, food, and tuition. But she also saw something many OFWs eventually realized: after years of sacrifice, too many still come home without a place they can truly call their own. “I met so many hardworking Filipinos who worked abroad for decades, only to return and start over,” she shares. “They took care of everyone else but not their future.” That realization changed everything. In 2014, while still working overseas, Hiyas decided to invest in her first home in the Philippines—purchasing a unit at SMDC Grace Residences. It wasn’t a dramatic decision. It was a practical one. “I didn’t earn more,” she says. “I just shifted how I spent. The money I used to spend on dinners and coffee runs I redirected it to something that would last.” What used to disappear at the end of the month became a monthly investment

In the photo from left, Hiyas Hosalla Nohra with her daughter and husband during their time living in Singapore. for her family’s future. Over time, she added two more properties—another unit at Grace Residences and later one at SMDC Fame Residences, strategically located along EDSA and close to major business districts. All three units eventually became rental properties, providing steady income even while she continued working abroad. But one unit meant something more. “I wanted to come home to a home,” she says simply. Today, one of her Grace Residences units serves as her family’s base whenever they return to Manila, a place that welcomes them back after years of living abroad. Living overseas opened her eyes to a pattern she wanted to change. Many of her fellow OFWs — nurses, teachers, and hospitality workers — believed that owning property was out of reach while they were still providing for their families. “Downpayments are the hardest part,” Hiyas explains. “That’s why the flexible, nodownpayment installment plans are lifechanging. You can start small, pay monthly, and still send money home. You don’t have to

be rich — you just have to start.” What began as small conversations soon grew into advocacy. She started helping fellow Filipinos abroad understand that property ownership was possible — explaining payment terms, sharing her experience, and connecting them with trusted brokers. “I always tell them, I bought mine from overseas too. If I can do it, so can you.” For Hiyas, credibility begins with authenticity. As both homeowner and advocate, she believes in earning people’s trust through transparency and genuine care. “When people ask why I’m confident, I tell them this: the places we rely on every day—the malls, the spaces that last—come from the same hands that build our homes,” she shares. “That kind of track record matters when you’re investing from thousands of miles away.” Today, her SMDC properties reflect different stages of her journey: two continue to generate income, while one represents something more personal—a space shaped by years of sacrifice and planning. “Every property is a responsibility,” she adds. “You don’t just buy and forget. You maintain it, you nurture it, because it represents every hour and sacrifice that made it possible.” From investor to advocate, Hiyas Hosalla Nohra embodies the spirit of Filipinos who build from afar, working hard for their families while inspiring others to do the same. “While you’re young and working, invest,” she says. “Because one day, you’ll want to come home — and when you do, it feels different when the key you’re holding is your own.” To learn more, visit www.smdc.com or call the SMDC Hotline at (02) 8858-0300.

Slip ‘Em On and Go: How Pia Keeps on Moving in These Kicks

Pia Wurtzbach

VERYONE wants shoes that move easily from casual to chic, keep pace with a busy holiday schedule, and offer comfort without compromise during the festive season. As seen on Pia Wurtzbach in the latest Skechers ad, Skechers Hands Free Slip-ins® shows how easy it is to step into your shoes without interrupting your routine. No bending. No fuss. Just effortless style and reliable comfort. In her newest commercial with Skechers, Pia Wurtzbach shows exactly how these kicks fit into her routine with ease and style. Whether she’s getting ready to head out or dressing for a relaxed day, Pia proves that Skechers Hands Free Slip-ins® make it easy to look polished without trying too hard. “What makes Skechers stand out compared to other footwear brands is that it is really comfortable. No matter what style you choose,” Pia shared. “If you’re always on the go, you need to be comfortable. Thank goodness for these shoes.” Beyond daily wear, Skechers Hands Free Slip-ins are designed for versatility, whether it’s running errands, traveling during the busy holiday season, or even playing your favorite sport like pickleball. Pia Wurtzbach’s latest Skechers campaign highlights her signature mix of comfort and style. In the behind-the-scenes video and latest TVC, Pia wears standout looks from the Skechers Fall Winter 2025 collection. Here are Pia’s top tips for nailing that effortless look with Skechers Hands Free Slip-ins®. Style Tip #1 Pick a color theme and stick to it Pia knows that a balanced color story can instantly pull a look together, and when it comes to performance and style, the Skechers Viper Court Pro 2.0 stands out as the ultimate favorite among pros, celebrities, and pickleball

enthusiasts alike. Designed for the court but made to move beyond it, this pair brings together high-performance comfort and versatile style. Whether you’re gearing up for a match or winding down after one, the Viper Court Pro 2.0 delivers support and standout flair, proof that true comfort never sits on the sidelines. Style Tip #2 Mix sporty sneakers with elegant pieces for a hi-lo look Pia brings a fresh twist to everyday dressing this holiday season by pairing the Skechers Hands Free Slipins®: Stamina Sport sneakers with a structured blazer and clean neutrals. Whether she’s hopping from one gathering to another or running last-minute errands, the look strikes a modern balance of sporty and refined, perfect for the festive rush. With the Hands Free Slipins® feature, Pia can simply step in and go, making it easier to stay relaxed yet effortlessly put-together amid the season’s celebrations. Style Tip #3 Don’t be afraid to explore beyond your usual look Take a cue from Pia and mix a color-block jacket with classic denim for a look that feels fresh yet grounded in retro sneaker style. The Skechers Hands Free Slip-ins®: Hotshot adds a clean, classic touch that complements playful layers, while the hands-free design and signature comfort make it easy to wear anywhere, from relaxed holiday hangouts to casual days out in the city. Style Tip #4 Glam Up Your Athleisure Turn athleisure into a statement with a fitted matching apparel set for a sleek, put-together vibe. Finish the look with Skechers Hands Free Slip-ins®: Max Cushioning® Endeavour for a sporty yet chic touch. The exceptionally comfy cushioning makes these sneakers perfect for an active day during the holiday break while keeping your athleisure look sleek and chic. Pia’s tips show how easy it is to mix comfort with style this holiday season. From color play to athleisure glam, she proves that Skechers Hands Free Slip-ins® make everyday looks feel chic and effortless.

Marco Polo Ortigas Manila has new executive chef in Alex Ensor

ARCO Polo Ortigas Manila marks the start of the new year with the appointment of Executive Chef Alex Ensor, a New Zealand–born culinary leader whose career spans nearly three decades across Australasia, Southeast Asia, and the Middle East. Recognized for his disciplined craftsmanship, contemporary sensibility, and ability to lead highperformance kitchen teams, Chef Ensor brings a globally informed yet deeply ingredient-driven approach to the hotel’s culinary direction. Chef Ensor’s professional journey has been shaped by senior leadership roles in competitive luxury dining environments, where he has overseen award-recognized restaurants and large, multicultural culinary teams. His cooking philosophy balances refined technique with approachability, drawing on global influences while maintaining a strong respect for seasonality, local produce, and clarity of flavor. “I’m excited to be joining Marco Polo Ortigas Manila at a time of renewed energy and opportunity,” says Executive Chef Alex Ensor. “I have a deep respect for the Filipino palate and its warmth and generosity. My focus is on creating food that feels familiar yet thoughtful, dishes that are comforting, well-crafted, and grounded in quality ingredients.” Now leading the hotel’s overall culinary vision, Chef Ensor introduces his first major dining initiative at Cucina with the launch of The Crafted Table, a new semibuffet concept debuting on January 19, 2026. Available for lunch and dinner from Monday to Wednesday, the concept reflects Chef Ensor’s belief in elevating comfort through craftsmanship and balance. Guests begin with a curated selection of cold dishes, soups, and freshly baked artisan breads, followed by a thoughtfully prepared main course served à la minute.

looking trees reminiscent of gigantic succulents, which carry BE Grand Resort Bohol’s promise of sustainability, as with all their Christmas trees in the past. The trees flanked a gigantic gingerbread house, or as the BE Group COO Nova Noval explained, a gingerbread Hispanic ancestral home. The BE Resort pastry team, led by Pastry Chef-consultant Chef Kria Roleda, concocted this massive Christmas confection to resemble the iconic Filipino heritage house, replete with a candyfilled puerta, a brick-and-stone silong, ventanas of capiz shells, and even teja de curva roofing—all proudly made of 100 percent edible materials. While this year’s holiday season was slated to be grander and the resort celebrating its 10th year in the industry as well as its back to back wins at the World

The experience may be further enhanced with premium dessert selections and optional beef upgrades, offering flexibility while maintaining a clear culinary focus. The introduction of The Crafted Table signals a confident evolution for Cucina, one that responds to modern dining preferences without compromising culinary integrity. Under Chef Ensor’s leadership, Marco Polo Ortigas Manila continues to strengthen its position as a dining destination defined by skill, intention, and memorable guest experiences. For more information and reservations, please call (+632) 7720 7777 or email manila@marcopolohotels.com.

Globe, the Most Reliable Network for iPhone, Brings Back Flagship Forever

LOBE announces the return of its “Flagship Forever” program, offering the latest generation of iPhone: iPhone 17, iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max, to customers with enhanced accessibility and value. The Flagship Forever subscription allows customers to upgrade every year without waiting for your contract to end, guaranteeing effortless access to the newest flagship devices. Globe continues its commitment to bringing the best network experience, as it was hailed the most consistent network for iPhone based on analysis by Ookla® of Speedtest Intelligence® iPhone Consistency Score in the Philippines for the first half of 2025, with the latest and most desired technology within easy reach, offering competitive deals, flexible payment options, and exclusive digital perks to enhance every customer’s digital lifestyle. “We are thrilled to bring back Flagship Forever, making it easier than ever for our customers to experience the newest iPhone technology every year. Coupled with our consistently recognized best network for iPhone in the Philippines, this program underscores Globe’s commitment to providing unparalleled value and the best possible digital lifestyle for our Postpaid customers,” said Globe Vice President for Consumer Mobile Business Eric Tanbauco. Globe Postpaid customers can experience the latest handsets through these exclusive, value-driven plans: iPhone 17: Now available at an affordable cashout of just P2,188 monthly for 24 months with the All-New GPlan Plus 999. This powerful plan now includes 20GB of Mobile Data, Unlimited Calls and Texts, Data Swapping, Unli 5G for 12 months, No Expiry Points, and a one-month free subscription to Gadget Xchange. iPhone Air: Get the highly anticipated iPhone Air at an affordable cashout of just P1,458 monthly for 24 months with GPlan 2499. The plan comes loaded with 25GB of Mobile Data, Unlimited Calls & Texts, and

BE Grand Resort Bohol Lights Up the Season with a Holiday of Hope HE holiday season officially started at the awardwinning BE Grand Resort Bohol, marked by a grand tree-lighting ceremony on November 21, 2025. The lobby of the famed resort was once again transformed into a spectacular showcase of Christmas cheer with a distinctly Filipino touch, with the unveiling of this year’s three Christmas trees, whipped up by the dynamic duo of the Blue Grass Project using upcycled pieces from the resort. Old linens were dyed and shaped into gigantic leaves. Used bedroom slippers were cut into rondels painted in gold to resemble baubles. Empty water bottles, provided with compliments to guests in their rooms, were cut up to serve as ornaments. And all these were stacked on a base of bamboo harvested from the resort’s gardens. The result were unique-

Chef Alex Ensor, Marco Polo Ortigas’ new Executive Chef

Luxury Hotel Awards (Best Luxury Hideaway Villa– Global, Best Luxury Villa Resort–Asia, and Best Luxury Villa–Asia) and the World Travel Awards (Philippines’ Leading Resort, the celebrations were a bit more subdued, in light of the recent earthquake and typhoons that struck Cebu and Bohol. The BE Group President and CEO Grand Benedicto emphasized the need for hope and strength in the face of these calamities. “We at BE Resort have always made a point for our company to be the spark, but this year I made the added call for all of us to also shine with hope. Because even the tiniest ray of hope is enough to dispel the darkness.” And with that, the holidays were well and truly alive in BE Grand Resort Bohol, spreading with it a message of hope for the days to come.

a one-month free subscription to Flagship Forever with Gadget Xchange. Globe is elevating the GPlan Plus experience by integrating Unli 5G for 12 months into the All-New GPlan Plus plans (799 and up). This allows iPhone 17 users to experience hyper-fast speeds, seamless streaming, and instant downloads across Globe’s rapidly expanding 5G network. Globe 5G now spans over 3,000 outdoor and 40 indoor locations, delivering cutting-edge connectivity to more Filipinos nationwide. Customers seeking the premium experience of the iPhone 17 Pro and Pro Max can enjoy the convenience of the Platinum GPlan. iPhone 17 Pro: Now available at an affordable cashout of just P1,592 monthly for 24 months with Platinum GPlan 3799 with a three-month free subscription to Flagship Forever. Effectively, your P599 add on fee starts at month 4 of 24 months. iPhone 17 Pro Max: Now available at an affordable cashout of just P1,550 monthly for 24 months with Platinum GPlan 4999 which now includes free Flagship Forever Subscription for 24 months. This elite Platinum package ensures an unparalleled experience, including true unlimited data, unlimited calls and texts to all networks and landline, access to local airport lounges (via PAGSS and Plaza Premium), Platinum exclusive perks and privileges, and round-the-clock access to Thea of Globe Platinum via Facebook Messenger. Plus, customers get to enjoy priority stocks and delivery as part of their Platinum advantage. Customers can grab their new iPhone from Globe Stores nationwide or shop instantly at the Globe Online Shop. For maximum flexibility, customers can choose zero percent installment options for up to 24 months with partner credit cards (BPI, UnionBank, Metrobank, RCBC, and HSBC). Visit https://shop.globe.com.ph/ to learn more about the new iPhone 17, iPhone Air, iPhone 17 Pro, and iPhone 17 Pro Max offers.

BusinessMirror

Editor: Tet Andolong

Wednesday, January 14, 2026 B7

Liveable Cities Philippines and Ayala group outline new road map for climate resilience

By Rizal Raoul S. Reyes

IVEABLE Cities Philippines, in partnership with Delivery Associates, a global consultancy that works with governments and mission-driven organizations to move from vision to outcome, recently gathered leaders from government, business and civil society for a focused discussion on how cities can move from planning to consistent, measurable delivery of essential services. “Cities face stronger risks every year, but the solutions are within reach. What matters is execution. When cities strengthen their delivery systems, people feel the results in safer communities and more dependable services,” Guillermo M. Luz, Chair of Liveable Cities Philippines, says in the forum. “Strong plans are essential, but resilience depends on what happens next. With clear priorities, good data, and the right partners, cities can move from managing crises to building systems that help communities recover faster and thrive over time,” says Laurel Blatchford, Senior Fellow

during calamities. Fernandez drew on the company’s experience during Typhoon Odette, noting that ACEN utilized helicopters to bypass destroyed roads to deliver essential supplies and financial aid to devastated communities.

@brownindio

at Delivery Associates via Zoom from Washington. She shared practical ways that cities around the world turn plans into real results. This includes being a prop active, spotting problems early, being clear about who is doing what, and checking in regularly to stay on track. Blatchford adds these simple habits help leaders focus on what truly matters for their communities and build systems that keep working even as circumstances or leadership change. In a powerful display of corporate synergy, Ayala conglomerate subsidiaries ACEN Corp. and Globe Telecom

Building ‘hardened’ networks for the future LIVABLE Cities Philippines Chairman Guillermo M. Luz

SENIOR Vice President and Head of Operations at ACEN Miguel Fernandez

have outlined a comprehensive roadmap for climate action and disaster resilience. The strategy, presented by senior leadership, focuses on a dualtrack approach: aggressively transitioning to renewable energy to mitigate climate change while “hardening” critical infrastructure to survive the Philippines’ increasingly volatile weather patterns. Miguel Fernandez, senior vice president and head of operations at ACEN (formerly AC Energy), says it is now a leader in the renewable space, driven by the philosophy that clean energy is the first line of defense against climate disasters. "The transition to renewable energy is instrumental in preventing these disasters in the first place,"

Fernandez stated. He revealed ACEN’s ambitious goal to reach 20 gigawatts (GW) of renewable capacity within the next 5 to 10 years. To manage the operational risks of this transition, ACEN has implemented a sophisticated three-tiered incident management system: n Level 1-3 Response: A scalable framework designed to address everything from minor technical glitches to full-scale national emergencies. n Rotating Rosters: Ensuring the incident management team is always fresh and ready for immediate deployment. n Community Integration: Close collaboration with local government units (LGUs) to ensure energy security

Property valuation outlook: Navigating PHL market dynamics in 2026 Retail: Transit-oriented projects to potentially raise property values

First of two parts

HERE are key opportunities in the Philippine real estate market amid global uncertainty. In our view, proper valuation of assets will be key in guiding developers as they look for the next growth areas. An unbiased appraisal is important in a constantly evolving and gradually maturing Philippine property market. Moreover, proper valuation of assets is crucial for property firms lining up their expansion plans beyond 2026 as well as for investors planning to acquire assets within and outside Metro Manila.

Residential: Differentiation key to higher valuation DEVELOPERS are focusing on mixeduse or township developments in key emerging hubs. Developers are creating competitive advantages by offering differentiating elements in their developments, such as sports facilities, country clubs, golf courses, transportation hubs, and botanical parks. One key differentiating factor is educational institutions locating in integrated communities, such as the Ateneo de Manila University in Riverpark in General Trias, and the Ateneo Graduate School of Business Clark Campus in Mimosa in Clark Freeport Zone. Meanwhile, the University of the Philippines has broken ground on the site of its UP Dasmarinas Technology Innovation campus in Cavite. The property was donated by Vista Land to UP and is part of Villar City’s University Town. Residential properties in township developments that address the needs

and wants of the communities would be in higher demand, which would likely lead to an increase in the prices of these residential properties. Considering the performance of Filipino athletes in the recently concluded Southeast Asian Games in Bangkok as well as millennials’ growing interest in golf, perhaps tennis courts, bowling centers, golf courses, and shooting ranges are in the horizon for future township developments. These features do not only raise land and property prices but also help differentiate masterplanned communities—allowing each township to stand out amid the growing acceptance for masterplanned living.

Office: Flight to quality justifies workplace premiumization SUSTAINED demand in Makati CBD and BGC in Metro Manila keeps vacancy rates low and increases average headlines rates in certain sub-markets and buildings. Business growth of traditional companies and sustained expansion of third-party outsourcing (3PO) firms will drive office leasing transactions in Metro Manila and other key cities outside the capital region. Discerning office tenants continue to prefer office buildings with green certifications, smart building technologies, and sustainable features. Green office buildings have lower operating costs, tend to command higher lease rates, which can contribute to higher asset values for investors. Sustainable and healthy towers also help occupants lure more employees to return to office (RTO). This should raise office buildings’ occupancies, positively influencing valuation.

MALL developers are planning to grow the business by either expanding to key growth areas in the country or redeveloping existing retail leasing portfolio to become more competitive in the market. Malls that have undergone redevelopment can command higher lease rates and can provide higher returns to developers. Property firms are keen to expand operations in regional hubs such as Bacolod, Cebu, and Pampanga. Robinsons Bacolod is set to undergo redevelopment this year, and Power Plant Mall Bacolod and Angeles City by Rockwell and Upper East Mall by Megaworld are slated to open in 2027. The increasing trend of malls becoming lifestyle centers and experiential hubs is evidenced by Ayala Museum in Greenbelt Makati, Samsung Performing Arts Theater in Circuit Makati, and Rockwell Performing Arts Theater and soon-to-open Lopez Museum in Rockwell Center Makati. Another trend we see is the popularity of transit-oriented retail. Institutional clients are looking at the viability of these retail hubs given the Philippine government’s promise of improving the country’s infrastructure backbone. We project more requests for land and property valuations for these transit-oriented spaces in the near term. Overall, mall developers are trying to maximize every shopper’s peso by integrating experiential and immersive retail. More activity centres, coffee and bake shops within department stores, and lifestyle shops and zones mean that more consumers are likely to stay longer and spend more within retail centres. The continued dynamism of Philippine retail and Filipinos’ rising purchasing power are also enticing foreign retailers to enter the Philippine market and expand operations. In Metro Manila, expect limited new retail space but more well-curated shopping floors and refreshed interiors. Outside of the capital region, expect ramped up geographic diversification and pronounced shift to suburbia. To be continued

PARALLEL to ACEN’s energy shift, Globe Telecom is focusing on “physical hardening” and decentralized power. As the first Philippine publicly listed company with approved net-zero targets, Globe is reimagining how a telecom network survives a super typhoon. “During a massive typhoon, the grid is often the first thing to fail,” says Jayme Maniti, senior manager, head of operational management risk management, Globe Telecom explains. To combat this, she says Globe is shifting toward decentralized power sources like solar, making cell sites less dependent on the vulnerable national grid. Key pillars of Globe’s resilience strategy include: n Extreme Tower Engineering: Redesigning and retrofitting towers to withstand wind speeds of up to 340 kph, significantly exceeding current industry standards.

n Strategic Foresight: A three-step process involving deep scenario analysis, community impact assessment, and mitigation. n Emergency Communication: Partnering with the NDRRMC to deploy geo-targeted SMS warnings and cell broadcasts to save lives in real-time.

A Call for radical collaboration THE presentation concluded with a call for stronger public-private partnerships. Beyond infrastructure, the Ayala Group is looking toward social impact, including potential collaborations with the Department of Education (DepEd) to pilot micro-solar power models in "last-mile" or offgrid schools. “Our call to action today is simple,” the presentation noted. “Let us formalize and strengthen the mechanism for collaboration. With Globe [and ACEN], let’s go forward together.” Luz says Liveable Cities Philippines emphasizes the importance of partnerships that bring national agencies, city governments, schools and private utilities together. Stronger collaboration, better data sharing and clearer processes allow cities to respond faster, avoid delays and keep essential services running during crises, according to Luz.

RLC Residences caps a year of collective excellence and industry leadership

LC Residences closes the year marked by meaningful milestones—each one shaped by shared vision, collaboration, and a commitment to building with purpose. Throughout 2025, the brand earned distinctions across both local and international platforms, reflecting its continued focus on thoughtfully designed, future-ready homes that respond to how people live today. Conferred by respected institutions such as PropertyGuru Property Awards, DOT Property Awards, Asia Pacific Property Awards, and The Global Economics Awards, the year’s achievements highlight the depth of work behind every RLC Residences development—from planning and design to execution and community-building.

Leading with purpose, strengthened by experience

RLC Residences’ leadership in the residential sector was affirmed when it was named Developer of the Year for the second consecutive year by the DOT Property Philippines Awards and Best Condominium Developer Philippines by The Global Economics Awards. These distinctions underscore the brand’s strength across a wide range of residential offerings—from starter homes to premium developments. “Our work echoes Robinsons Land’s mission of building better lives—a commitment that shapes how we plan, design, and deliver every project. This milestone is also proof of Filipino excellence, showing how our developments can stand at par with global standards,” said Teddy V. Bernas, OIC–Business Unit General Manager, RLC Residences. These achievements are further strengthened by the legacy and expertise of its parent company, Robinsons Land, which was honored at the PropertyGuru Property Awards as Best Luxury Developer at the Asia level and Best Developer in the Philippines for the fourth consecutive year, reflecting the company’s consistent standards across markets. Together, these honors highlight a shared standard of excellence, combining RLC Residences’ forward-looking vision with Robinsons Land’s decades-long track record in real estate development.

Award-winning developments, united by one vision

RLC Residences’ portfolio demonstrates a careful balance of design excellence, innovation, and sustainability, with each development reflecting a clear understand-

ing of modern living. At the forefront of architectural distinction, Le Pont Residences sets a benchmark for high-end residential living, earning Best Condominium Architectural Design in the Philippines and Southeast Asia from the DOT Property Awards. Its refined design and attention to detail establish a standard for elevated living and style in the region. This commitment to exceptional quality is further exemplified by The Residences at the Westin Manila, honored as Best Completed Condo Development locally and Best Completed Luxury Condo Development in Asia by the PropertyGuru Asia Property Awards. The project combines world-class hospitality standards with premium residential comfort, reflecting RLC Residences’ dedication to flawless execution. Blending accessibility with innovation, SYNC exemplifies how well-designed homes can cater to diverse lifestyles. It received the Gold Award for Residential High-Rise Condominium from the FIABCI Philippines Property & Real Estate Awards held in April, as well as Best Starter Home Condominium from the DOT Property Philippines Awards. The property was also recognized as Best Mid-End Condo Development in Metro Manila and across Asia by the PropertyGuru Asia Property Awards. SYNC demonstrates a thoughtfully planned urban residential development that combines style, functionality, and livability on both local and regional scales. Continuing the focus on forward-looking design, MIRA showcases the seamless integration of technology, smart home features, and family-oriented planning. The development received Residential High-Rise Development and Residential High-Rise Architecture for the Philippines from the Asia Pacific Property Awards in May, along with Best Smart Home Condominium from the DOT Property Philippines Awards - highlighting RLC Residences’ approach to creating homes that combine modern convenience with spaces for families to grow. Environmental responsibility also remained central, as seen in Sierra Valley Gardens, which was Highly Commended— Best Eco-Friendly Condo Development by the PropertyGuru Philippines Property Awards and named Apartment/Condominium Development for the Philippines by the Asia Pacific Property Awards. The project underscores the importance of environmentally responsible design in shaping livable communities. Mantawi Residences further reinforces this promise to sustainable, high-quality living. Recognized as Best Sustainable De-

velopment by the DOT Property Philippines Awards and Highly Commended—Best High-End Condo Development in Metro Cebu by the PropertyGuru Philippines Property Awards, it combines eco-conscious planning with premium residential standards. Beyond high-rise living, The Magnolia Residences demonstrates RLC Residences’ versatility in integrating residential comfort with lifestyle convenience. Named Best Mixed-Use Development Project Philippines by The Global Economics Awards, the project highlights thoughtful urban planning that caters to the needs of modern homeowners. Completing the portfolio, Springdale Baliwag was Highly Commended—Best Subdivision Development by the PropertyGuru Philippines Property Awards, reflecting the brand’s commitment to creating vibrant communities outside metropolitan areas. Together, these projects illustrate a holistic approach to development—where design, innovation, and sustainability converge to deliver homes that stand out locally and internationally.

Shaping the industry beyond developments

RLC Residences’ work extends past the projects themselves. Its approach to responsible building was highlighted through a Special Recognition Award for Sustainable Construction from DOT Property Philippines Awards, along with acknowledgments for Sustainable Design and Energy Efficiency from PropertyGuru Philippines Property Awards—a reflection of how sustainability is embedded across planning, construction, and long-term operations. The brand’s broader influence was also recognized as it was named Manila Bulletin Newsmakers of the Year, citing its role in shaping discussions around urban living, sustainability, and the future of residential development in the country. Behind every milestone is a collective effort—teams, partners, and communities working together toward a shared goal. For RLC Residences, the year’s progress serves not as a finish line, but as a foundation for what comes next. As it looks ahead, it remains focused on building homes and communities that are relevant, resilient, and thoughtfully crafted—supported by collaboration, guided by purpose, and strengthened by the enduring foundation of Robinsons Land. To explore RLC Residences’ award-winning developments, visit rlcresidences.com.

Sports BusinessMirror

B8 Wednesday, January 14, 2026

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

Coach Chot: We’re going all out tonight A PHILIPPINE Sports Commission chairman Patrick “Pato” Gregorio (center) plays with a commemorative ball with (from left) 33rd Southeast Asian Games bronze medalist Tennielle Madis and Navotas Mayor John Rey Tiangco, also the tennis association secretary-general. NONIE REYES

PSC, Rizal Memorial in harness for first-time hosting of WTA tour

RGANIZERS of the Women’s Tennis Association (WTA) 125 Philippine Women’s Open announced on Tuesday that Manila— specifically the Rizal Memorial Tennis Center—is ready to host the global competition. “WTA 125 Manila, we are ready!” Philippine Sports Commission (PSC) Patrick “Pato” Gregorio said during the press conference at the Lanson Place in Pasay City two weeks before the event begins. “We are glad with the partnership of the PSC and the Philippine Tennis Association [Philta] with the PSC as the enabler of events,” said Gregorio who was joined by 33rd Southeast Asian Games bronze medalist Tennielle Madis and Navotas City Mayor and Philta secretary-general John Rey Tiangco during the launch. The WTA 125 is set January 26 to 31 and marks the country’s first-time hosting of a WTA tour event. “You go there [Rizal Memorial Tennis Center] and see hundreds working into the wee hours of the morning,” said Gregorio of the record-breaking upgrade of the age-old facility that has seen better days decades and decades ago. Gregorio acknowledged the support provided by the City of Manila and the Department of Public Works and Highways. “It’s a beautiful transformation,” he said. “So we have no second thoughts in giving financial support for this project and to NSAs [national sports associations] that realize and understand the vision of the PSC,” he stressed. “The fact that we are already using

the courts for a qualifying tournament among our top local players for the Philippine Women’s Open means that it (the Rizal Memorial Tennis Center) is almost ready,” Tiangco said. “We are confident that with the PSC beside us that we will be able to finish on time.” Tiangco, himself a former age group standout and national player, said that hosting the inaugural Philippine Women’s Open was a big deal for Philippine tennis development. “This is big. This is not just a one-time event, an investment for Philippine tennis,” he said. “We are building a whole new ecosystem that will allow our local players to compete against world-class opponents.” The Philta secured a three-year agreement with the WTA to stage the WTA 125 tournament, according to Tiangco. Meanwhile, tickets are now on sale, according to PHILTA executive director Tonette Mendoza, with the price pegged at P200 each and free seating for the qualifying round matches on January 24 and 25. Ticket prices will be at P1,000, with free seating, in the main draw from the round of 32 to the quarterfinals from January 26 to 29. Tickets for singles semifinals and doubles finals on January 30 will cost P1,500 for the standard pass and P2,000 for the premium pass, which will also be the ticket prices for the championship match on the last day on January 31, she said.

Commemorative stamp honors ‘The Greatest’ Muhammad Ali

UHAMMAD ALI once joked that he should be a postage stamp because “that’s the only way I’ll ever get licked.” Now, the three-time heavyweight champion’s quip is becoming reality. Widely regarded as the most famous and influential boxer of all time, and a cultural force who fused athletic brilliance with political conviction and showmanship, Ali is being honored for the first time with a commemorative US postage stamp. “As sort of the guardian of his legacy, I’m thrilled. I’m excited. I’m ecstatic,” Lonnie Ali, the champ’s wife of nearly 30 years, told The Associated Press. “Because people, every time they look at that stamp, they

will remember him. And he will be in the forefront of their consciousness. And, for me, that’s a thrill.”

Fighter, compassionate in life

MUHAMMAD ALI died in 2016 at the age of 74 after living with Parkinson’s disease for more than three decades. During his lifetime and posthumously, the man known as The Greatest has received numerous awards, including an Olympic gold medal in 1960, the United Nations Messenger of Peace award in 1998 and the Presidential Medal of Freedom in 2005. Having his face on a stamp, Lonnie Ali said, has a particular significance because it’s a chance to highlight his mission of spreading compassion and

By Josef Ramos

LL indications are there for TNT marching to a fourth-straight championship appearance with a 3-1 series lead in the Tropang 5G’s semifinals series with the Meralco Bolts in the Philippine Basketball Association (PBA) Season 50 Philippine Cup. But for head coach Chot Reyes, they’re tackling Game 5—set 5:15 p.m. on Wednesday at the Smart Araneta Coliseum—as if there’s no tomorrow. “We’re going to go all-out because we know that Meralco is going to come back really hard,” Reyes said. “I’ve said this since Game 1, we have no illusions that this is going to be an easy series.” TNT controlled took Game 1, 100-95, and Game 2, 109-92, but Meralco charged back with a 97-89 win in Game 3. It was in Game 4 that the Tropang 5G showed their teeth for a masterful 102-81 victory behind JP Erram’s 27 points and nine rebounds effort. “We talked after we lost in Game 3 that it is not going to be easy for us,” said Reyes, saying gunner Roger Pogoy’s a game-day decision because of a hamstring injury. “So we are expecting and we need to be ready for a huge battle in Game 5.” But the Tropang 5G—who’re eyeing the franchise’s 26th title and the 112th for Reyes—aren’t lacking in manpower with Jordan Heading, Kim Aurin, Mike Nieto, Kevin

He added: “We’re used to this kind of situation.” Newsome averaged 16.0 points, 4.0 rebounds and 4.3 assists in the series, numbers that CJ Cansino and Chris Banchero—14.5 and 13.5 points in the semifinals—need to fill up. Trillo also has Cliff Hodge (13.0 points and 6.2 rebounds) and Raymond Almazan (10 points) in tough situations. Barangay Ginebra San Miguel and reigning champion San Miguel Beer, meanwhile, go out to break a 2-2 tie in Game 4 of their own series starting at 7:30 p.m. also on Wednesday. Ginebra rode Scottie Thompson triple-double of 35 points, 11 rebounds and 11 assists in their 105-91 Game 4 that sent the duel back to square one. June Mar Fajardo was limited to just nine points but got 20 rebounds and had five assists for the Beermen in that loss.

2 more Russians get IOC approval for Milano games

TNT head coach Chot Reyes’s not one who’s sitting pretty against a Meralco side that could jolt the series anytime. PBA IMAGES

THIS image released by the United States Postal Service shows the Muhammad Ali stamp featuring a 1974 Associated Press photo of Ali. his ability to connect with people. “He did it one person at a time,” she said. “And that’s such a lovely way to connect with people, to send them a letter and to use this stamp to reinforce the messaging in that life of connection.”

Stamp unveiled in Louisville

A FIRST-DAY-OF-ISSUE ceremony for the Muhammad Ali Forever Stamp is planned for Thursday in Louisville, Kentucky, the birthplace of the famed boxer and home to the Muhammad Ali Center, which showcases his life and legacy. That’s when people can buy Muhammad Ali Forever Stamps featuring a black-and-white Associated Press photo from 1974 of Ali in his famous boxing pose. AP

TNT marching on? Fajardo fading TNT will most likely finish it today. The signs are there— obviously. The Tropang G5 were simply too dominating in winning the last two games to lead Meralco, 3-1, going to Wednesday’s Game Five of their best-of-seven semifinal series in the Philippine Basketball Association (PBA) Philippine Cup. In their Game Four battle alone on Sunday, TNT was in complete control all game-long, limiting Meralco to three under-20 points in winning the first three quarters, 20-19, 25-19 and 27-18. The G5 then poured it all in the fourth and last frame, rampaging for 30 points even as the Bolts belted out 27 in TNT’s 102-83 runaway win. That shoved Chot Reyes’s boys to within a win of advancing to the finals against the winner of the other semifinal series between San Miguel Beer and Barangay Ginebra. The hard-luck Meralco was hobbled and had its back against the wall even before the first jump-ball was tossed

Ferrer, Simon Enciso, Jio Jalalon and Calvin Oftana responding to the heavy demands of the playoffs. Oftana averaged 18.5 points and 6.2 rebounds in four games of the semifinals followed by Pogoy with 14.0 points and Heading with 12.0 points. Besides Pogoy, guard Rey Nambatac still nurses a mild sprain and veteran Kelly Williams’s dealing with the flu—but that’s been taken care off during the one-day break. “It’s the next man up and injuries are part of any battle,” Reyes said. “So we made a lot of moves for situations like this.” Meralco coach Luigi Trillo’s not the guy who’s about to give up even though his team’s heart and soul, Chris Newsome, has issues with his medial collateral ligament, or MCL, that forced him to sit the previous game. “We always thrive in games when our backs are against the wall,” Trillo said. “We must be better and I believe we can do better. We just need to lock in.”

as its top gun, Chris Newsome, didn’t suit up due to a knee injury he suffered in Game Three. Thus, without Newsome, who is Meralco’s heart and soul, the Bolts were mercilessly reduced to sitting ducks as the G5 fired ferociously, shooting baskets at will to easily post that 19-point rout.

US women’s ski team members Mary Bocock (left), 22, and Keely Cashman, 26, do arm exercises as part of “dryland training” after practice at Copper Mountain, Colorado, recently. AP And while TNT might just nail the precious Finals ticket today at the Smart Araneta Coliseum when it plays Game Five against a grimly-menaced Meralco beginning at 5:30 p.m., it’s a completely different scenario in the SMB-Ginebra battle. Set at 7:30 p.m., the pivotal Game Five between the Beermen and the Gin Kings will have as central theme anew the health status of June Mar Fajardo, SMB’s perennial cornerstone. Playing with a sore shoulder the last two games, Fajardo could only produce six and nine points, respectively, in Games Three and Four. San Miguel was lucky in Game Three as off-the-bench Don Trollano exploded with 33 points to spearhead the Beermen victory for a 2-1 lead. But there was no Trollano in Game Four to bail SMB out of trouble, absorbing an eight-point drought in Ginebra’s 105-91 win that tied the series at 2-2. Fajardo had but only 9 points—his 20 rebounds rendered worthless. This time, it was Scottie Thompson’s time to shine, becoming the first local to record a 30-point triple-double in 33 years with his 35 points, 11 rebounds and 11 assists.

AUSANNE, Switzerland— Two more Russian athletes were approved by the International Olympic Committee (IOC) to compete at the Milan Cortina Winter Games next month with neutral status. The total is now five athletes with Russian passports and one from Belarus confirmed by the IOC as eligible for the Olympics that open February 6—they will not have their national identity of team colors, flag or anthem and cannot take part in the opening ceremony athlete parades. Short-track speed skaters Ivan Posashkov and Alena Krylova joined the list updated by the IOC late Monday. The 21-year-old Posashkov competes in the men’s 1,000-meter event and the 23-year-old Krylova in the women’s 500 meters. Neutral status can be given to athletes in individual events judged to have not actively supported their countries’ full military invasion of Ukraine, and who are not contracted to the military or state security agencies. Vetting is done first by a winter sports governing body and then verified by a panel of three IOC members, which includes former National Basketball Association star Pau Gasol. The IOC previously approved Russian figure skaters Adeliia Petrosian—who is a strong medal contender—and Petr Gumennik, plus Nikita Filippov in ski mountaineering. Belarusian figure skater Viktoriia Safonova also passed checks. More Russian and Belarusian athletes, including in Alpine and cross-country skiing, are likely to be added this month. Russian athletes have returned to international winter sports competitions in recent weeks for the first time since the war on Ukraine intensified in February 2022, four days after the last Winter Games closed in Beijing. Russia is still excluded from team sports like ice hockey at the Olympics, as it was at the 2024 Paris Summer Games. AP

The last to do it was Johnny Abarrientos, presently an assistant coach at Ginebra, who did it in 1993. But back in 1990, Ronnie Magsanoc, christened the Point Laureate in his heyday by my buddy Recah Trinidad for his penchant to sink three-pointers with ridiculous ease, became the first local to produce a triple-double, with his 32 points, 13 rebounds and 18 assists in a Formula Shell victory over Pepsi in the All-Filipino Conference. Magsanoc witnessed Thompson’s game-winning performance for Ginebra as he was the analyst in Sunday’s Game Four for the English-only coverage at Cignal’s PBA Rush Channel 260. Should Fajardo fail to reclaim his 20-plus point average tonight, the Beermen could be in stormy seas again. Fajardo, the league’s only nine-time Most Valuable Player awardee, holds the key to either heaven or purgatory. Deny that and you are St. Peter without the rooster. THAT’S IT Fans continue to show up in droves in the PBA games, proof once more that the league gets extremely popular beginning with the quarterfinals. And once the Finals are on, tickets could become as precious as gold. Commissioner Marcial couldn’t be happier.