ECONOMIC growth will not be sustainable without better health outcomes, the country’s socioeconomic planning secretary said on Thursday.
National Economic and Development Authority (Neda) Secretary Arsenio Balisacan emphasized that a productive economy drives innovation, creates quality jobs, and reduces poverty and inequality. Yet, sustaining these gains requires a healthier workforce.
“Achieving and sustaining rapid inclusive economic growth, however, depends on robust health outcomes, which serve as the indis-
pensable foundation for long-term progress,” Balisacan said in a video message at the launch of the Philippine Institute for Development Studies’ (PIDS) Health Economics and Finance Program (HEFP).
He pointed out that increased public health spending is linked to higher labor productivity, citing research that highlights this connection.
“Cross-country examples from Asean nations also highlight a strong correlation between higher gross domestic product, or GDP, per capita, investments in health, and improved life expectancy,” he said.
Despite this, he acknowledged the country still faces significant challenges. He cited a PIDS report
on early childhood care and development found that one in three children suffers from stunting, and nine out of 10 struggle with reading and proficiency.
Data from the Philippine Statistics Authority showed that in 2023, nearly 44.4 percent of the country’s total health spending came from out-of-pocket expenses, highlighting the need to reduce healthcare costs and expand access to affordable, quality services.
“Ensuring financial risk protection will allow households to allocate resources toward other essential needs,” Balisacan said.
To tackle these issues, the Marcos administration has rolled out its Eight-Point Action Agenda,
aligned with the Philippine Development Plan 2023-2028, which prioritizes health reforms. Moreover, a significant part of this effort involves pushing forward with initiatives under the Universal Health Care (UHC) Act.
“Given the scale of challenges in this sector, the need for evidencebased health reforms has never been more urgent,” the Neda chief said. He then praised the creation of the HEFP as a critical step in addressing the country’s healthcare challenges, saying that it is “a testament to the sector’s importance and the commitment to evidencebased policymaking.”
improved net income contributes to the stronger economic outlook for the Philippines driven by its effective financial management and strategic initiatives, according to Reyes Tacandong & Co. Senior Adviser Jonathan Ravelas.
“It’s a positive development that reflects the central bank’s resilience and adaptability in navigating economic challenges,” Ravelas said. Broken down, BSP’s revenues climbed to P300.4 billion, a 41.3-percent increase from P212.7 billion in the previous year.
Of the amount, bulk or 80 percent of the central bank’s revenues came from interest income. This amounted to P240.8 billion in 2024, up by 21.67 percent year-on-year from P197.9 billion. Miscellaneous income also expanded by fourfold to P59.6 billion in 2024 from P14.8 billion in the previous year. This includes trading gains
By Ma. Stella F. Arnaldo
By Reine Juvierre S. Alberto @reine_alberto
“[This
By Reine Juvierre S.
BSP posts fourfold surge in net…
or losses, fees, penalties and other operating income.
Meanwhile, BSP’s expenditures fell to P226.7 billion in 2024, from P243 billion incurred in the previous year.
Of the expenses, the BSP’s interest expenditures declined by 0.65 percent year-on-year to P167.2 billion from P168.3 billion.
Other expenses, recorded as net trading losses starting in December 2022, decreased by 20.24 percent to P59.5 billion in 2024 from P74.6 billion in 2023.
Further, the BSP also recorded higher net income before net gain/ loss on foreign exchange rate fluctuation, income tax expense/benefit and capital reserves.
BSP data showed its net income amounted to P73.7 billion in 2024, coming from a net loss of P30.3 billion in 2023.
The central bank also posted a net gain on foreign exchange rate fluctuations worth P44.1 billion in 2024.
However, this was a contraction of 22.63 percent from the P57-billion net gain the BSP generated in 2023.
Net gain/loss in foreign exchange rate fluctuations represents realized gains or losses from fluctuations in foreign exchange rates arising from foreign currency-denominated transactions of the BSP, according to the central bank.
DA pins hopes on cooling tech to boost veggie farms
By Ada Pelonia
THEDepartment of Agriculture
(DA) on Thursday introduced a zero energy cooling technology that would prolong the shelf-life of vegetables like tomatoes and eggplants.
The DA Cagayan Valley office said the Zero Energy Cooling Chamber (ZEC-C) provides farmers with a sustainable, costeffective, and energy-efficient storage system that extends the quality of their harvests, reduces wastage at the farm level, and bolsters profitability.
“My anxiety level rises around this time of the year, when farmers harvest their produce, especially vegetables like tomatoes. We constantly worry about hearing news of vegetables being dumped by the roadside,” Rose Mary Aquino, regional executive director for DA Regional Field Office II, said in a statement.
For his part, Agriculture Secretary Francisco Tiu Laurel Jr. commended the DA-RFO II for this initiative, which he said would prop up the government’s aim to enhance food security by helping farm-
ers increase their income.
“This is the kind of creative thinking we need to modernize agriculture, increase farmer profits, reduce waste, and improve food security,” Laurel said.
The agency said it took two year to develop ZEC-C and involved a collaborative approach with researchers, farmers, cooperatives, and agribusiness partners.
A team of technology developers, led by principal technology author Mary Jane Ibarra of the Cagayan Valley Research Center, conducted trials comparing different walling materials, including coconut coir, charcoal, and a bricks-and-sand mix.
The trials in Aurora and Roxas in Isabela found that charcoal insulation effectively lowered temperatures by 5-10 degrees Celsius, and maintained humid-
ity levels of 85-90 percent, which are ideal for vegetable storage.
Aquino noted that the ZEC-C preserved tomatoes for up to 21 days and eggplants for up to 5 days, based on freshness, firmness, and color. Furthermore, other vegetables like bottle gourd (upo) and sponge gourd (payola) stayed in “excellent condition” for up to 6 days.
“We needed a solution to this persistent problem, and our Cagayan Valley Research Center delivered ZEC-C,” Aquino said.
A unit of ZEC-C which could store 500 kilos of produce costs around
P45,000, with reduced costs for larger capacities.
An economic analysis showed a return on investment of at least 71 percent for tomatoes and 32 percent for eggplants over a 5-21 day storage cycle, the agency said.
The launch of the ZEC-C technology is slated later this March at the Nueva Vizcaya Agricultural Trading Center (NVAT), where two units with one-ton capacities will be awarded.
Additional units with capacities ranging from 200 kilos to one ton will be distributed to other towns in Isabela, the DA said.
Through the program’s research and technical assistance, the Department of Health and the Philippine Health Insurance Corporation (PhilHealth) can refine their strategies to expand benefits, improve access to healthcare and enhance financial risk protection. The HEFP, officially launched on Thursday, was established under Republic Act 11975 in 2023 to study reimbursement reforms in PhilHealth and conduct research that supports the effective implementation of the UHC Act.
recent resolution, commits to their duties to fully enforce environmental and fisheries laws,” Osorio added.
The Convergence Summit highlighted the aggravating threat of the court’s decision on the already dire poverty and hunger situation in coastal communities. Municipal fisherfolk who are among the poorest in the country with a poverty incidence reaching 30.6 percent in 2021, face further hardship.
“Full implementation of our laws, particularly stopping commercial fishing inside municipal waters, is not only desirable but also essential. This requires a collaborative effort involving government agencies, scientists, and local communities to implement science-based policies that protect both the ecosystem and the livelihoods of those who depend on it,” the summit organizers stated. Karagatan Patrol found 860 detections of vessel lights inside municipal waters on March 2-8, 2025. This is an 18.9-percent increase from 723 detections recorded from the previous week, on February 23–March 1, 2025.
A year-on-year analysis of VIIRS data further showed a 15-percent increase in boats detected inside municipal waters with 27,654 in 2023 to 31,843 in 2024. The hotspots among the municipalities are Zamboanga City; Cuyo, Palawan; San Pascual, Masbate; Tongkil, Sulu; Languyan, Tawi-Tawi; Pagbilao, Quezon; and Carles, Iloilo.
Osorio urged the local government officials, and other enforcement agencies to uphold their mandates to protect municipal waters and champion the interest of poor artisanal fishers and their families in coastal communities. “We are grateful that the League of Municipalities of the Philippines [LMP] has joined our call and through a
The LMP issued a resolution, dated February 10, 2025, upholding local autonomy as enshrined in Article X of the 1987 Constitution and the Local Government Code of 1991, granting municipalities the authority to manage, conserve, and protect municipal waters, ensuring ecological balance and sustainable use of marine resources. In the resolution, the league said the Supreme Court ruling not only disregards the rights and responsibilities of LGUs but also sets a dangerous precedent that could further erode decentralized governance and weaken LGUs’ capacity to enforce environmental and fisheries regulations.
During the summit, the stakeholders urged the BFAR, LGUs and other enforcement agencies to file criminal cases to ensure that more stringent fines and penalties under the Fisheries Code, as amended, are enforced.
In a commitment statement read to representatives of DA- BFAR and the Department of the Interior and Local Government (DILG), the summit participants sought to develop sustainable fishing programs and alternative livelihoods to help affected communities recover.
To recall, in Panay Island, fisherfolk led by Pamalakaya-Panay and various sectors launched the “Aton ang Kinse Kilometro” alliance.
In La Union, the Timek Ken Namnama dagiti Babassit a Mangalap ti La Union (TIMEK), Pamalakaya’s provincial chapter launched a petition against the controversial SC ruling.
Pamalakaya earlier warned that the municipal fisheries output might “fall significantly” if the Court ruling takes effect.
we are an independent country,” she added.
Reputational backlash
on Crimes Against Humanitarian Law, Genocide, and Other Crimes Against Humanity.
RA 9851 allows the government to surrender or extradite suspect or accused persons in the Philippines to the appropriate court, if any, or to another State pursuant to the applicable extradition laws and treaties. Castro also denied the country compromised its sovereignty when it surrendered Duterte to the ICC.
“We do not want to become a province of any [country] because
slow in bringing back and growing international arrivals, and thus even more so now is a domestic market—as the starting point of arrival numbers overall is comparatively low.”
Some 5.95 million foreign tourists arrived in the Philippines last year, missing the 7.7-million target of the Department of Tourism (DOT) for the year, and the 8.3-million arrivals in 2019. Palmqvist was the first analyst to forecast that the country would miss its arrivals target in 2024, in an interview with this paper in June 2024.
Aligned with Aspac neighbors THE DOT has tried to flip the script by bragging that visitor receipts have exceeded prepandemic levels, reaching US$13.1 billion in 2024 versus $9.3 billion in 2019. In terms of the local currency, foreign tourists spent P760 billion last year, surpassing the DOT’s P505-billion target for the year. (See, “Missed goal: 5.95-M foreign tourists visited PHL in 2024,” in the BusinessMirror, Jan. 6, 2025.)
“Looking ahead, both occupancy and ADR growth in hotels will be more moderate than before, which aligns with many parts of Asia Pacific countries,” said Palmqvist, underscoring “cost pressures [that will remain] strong throughout 2025.”
In a panel discussion at the recent Asia Pacific Real Assets Association Ltd. Philippines Conference, he added, “No doubt the opportunity is there, but at this pace in terms of inbound people/ investment and trying to enhance the broadcast of a great market, it feels more pressing to ensure domestic travel/returns/investments get a boost.”
Construction slowdown in Cebu HE also cited the slowdown in planning and construction in new hotels, especially in Cebu, where the construction cost in Cebu’s is higher than in Metro Manila. Also, “We continue to see much fewer global brands in hotels in PH, compared to rest of Southeast Asia,” he added.
According to the Philippine Accommodation Pipeline 2024 Report of the Philippine Hotel Owners Association and Leechiu Properties Consultant, some P250 billion in private sector investments will go to the construction of 158 hotels and resorts, which will supply 40,084 keys. This falls short of the 120,463 keys needed for the DOT to meet its 10-million to 12-million foreign visior target for 2028. (See, Over 456,000 rooms needed by 2028–DOT, in the BusinessMirror, Oct. 17, 2024.) In a presentation at the Asian Hotel Industry Conference & Exhibition Southeast Asia, STR data showed the Philippines ADR and hotel occupancy rose by close to 5 percent in 2024 and 2 percent, respectively, versus 2023. Gross operating profit per available room (Goppar) by Metro Manila hotels hit a peak growth of $12 in November 2024, compared to November 2023, and fell by $1 in March 2024, versus March 2023. Goppar assesses how efficiently a hotel converts revenue into profit, after deducting operating expenses.
CASTRO wondered aloud why Senator Marcos decided to launch the Senate hearing on the matter despite said legal basis for the turnover.
“We don’t know what the real reason was for calling the hearing, and it’s clear, even our other legal experts, like retired Justice Carpio, said that it was done in accordance with the [the law] the surrender of former President Duterte to the ICC. So, we don’t know why Senator Imee Marcos is still having such a huge issue [on this],” she said.
The Palace official warned the hearing can result in a reputational backlash to Senator Marcos, especially if the administration successfully justifies the transfer of Duterte during the Senate hearing.
“This is not a slap in the face of the government. Maybe it’s the other way around,” Castro said in Filipino when asked about the administration’s reaction to how senator Marcos is openly challenging its position. Senator Marcos is currently seeking a reelection under the administration-backed Alyansa Para sa Bagong Pilipinas (APBP) in the May 2025 National and Local Elections (NLE).
Number of cases filed at ICC sufficient to establish pattern
By Jovee Marie N. dela Cruz @joveemarie
COUNTERING claims that the number is too small to be significant, a lawmaker on Thursday said the 43 cases cited by the International Criminal Court (ICC) are sufficient to establish a pattern of systematic violence during the Duterte administration.
House Assistant Majority Leader Jude Acidre emphasized that the ICC’s investigation into alleged extrajudicial killings (EJKs) during the Duterte administration’s drug war is not about the number of cases but about seeking justice.
“This is not a survey or a statistical study. In fact, a single case is enough for conviction. There is no need for a complex equation to prove that a flawed system exists. Each case under investigation is documented evidence of a broader and more alarming pattern of violence,” Acidre, a nominee of the party-list group of Tingog, said. He explained that the ICC is not attempting to compile a statistical sample representing every drug war-related death but rather to demonstrate that these documented cases reveal a consistent pattern of abuse and brutality against the population.
“These 43 cases were chosen because of the quality of the evidence and their ability to demonstrate a systematic violation of human rights. This is not about numbers but about the gravity and truth of each case,” Acidre explained.
Citing the ICC Prosecutor’s argument, Acidre stressed that the selected cases aim to establish a pattern of abuse rather than represent the total number of victims.
“If there are 43 cases with clear evidence showing a common method of violence, that is enough reason to proceed with the investigation. The point is that systematic violence exists, and those respon -
sible must be held accountable,” Acidre emphasized.
He explained that the details in these 43 cases reveal widespread police violence and civilian deaths under Duterte’s drug war.
“These killings are not isolated incidents. The victims’ stories are eerily similar—no due process, no justice. And this evidence reveals a larger system of abuse,” Acidre said.
The House leader argued that focusing on the number of cases is misleading and a deliberate attempt to downplay the reality of systematic killings.
“Each of these 43 cases represents a lost life. Families have been left grieving. Justice has been denied. It is wrong to dismiss this as a small number because every case carries weight and meaning,” he underscored.
He explained that the ICC’s investigation is not about compiling statistics but about exposing a clear pattern of state-sponsored violence and ensuring accountability.
“The ICC’s role is to deliver justice to the victims. The number of cases is not the measure of justice, but the truth and gravity of each case being pursued,” he said.
“Justice should not be measured in numbers alone. Every lost life matters, and every case is a step toward achieving the justice long denied to the victims and their families,” he added.
Earlier, House Deputy Majority Leader Paolo Ortega V, said Duterte, who faces 43 counts of murder in a crimes against humanity case, could receive a minimum of 30 years or a life sentence for each conviction.
Under ICC rules, a conviction for one murder alone can earn the former leader at least 30 years of incarceration, at a minimum, or a life sentence, at a maximum. The global court, on the other hand, is not a tribunal tasked with trying single murder cases but mostly “crimes against humanity.”
Cabinet officials defend service of ICC warrant
By Butch Fernandez @butchfBM
KEY Cabinet officials on Thursday defended the process by which Philippine law enforcers assisted the International Police Organization in serving the warrant of arrest issued by the International Criminal Court (ICC) against former President Rodrigo Duterte, who is facing charges of crimes against humanity.
Defense Secretary Gilbert Teodoro, Justice Secretary Crispin Jesus Remulla and Interior Secretary Jonvic Remulla were grilled by Sen. Imee Marcos, chairwoman of the Committee on Foreign Relations, which opened a motu proprio hearing to clarify the involvement of various government agencies in the implementation of the warrant served by the Interpol and issued by the International Criminal Court.
Justice Secretary Remulla maintained that the government will not cooperate and is not cooperating with the ICC in its investigation on the crimes against humanity allegedly committed during Duterte administration’s war against drug, and reiterated the stand of President Marcos that the Philippines helped the Interpol through the National Police and the Philippine Center for Transnational Crime. Senators expressed confu -
Palace to dela Rosa: We will track you down if...
By Samuel P. Medenilla @sam_medenilla
MALACAÑANG said the government will not leave any stone unturned to find Sen. Ronald dela Rosa if the International Criminal Police Organization (Interpol) seeks its assistance to serve the arrest warrant from the International Criminal Court (ICC) against him for his role in the bloody drug war of the Duterte administration.
Dela Rosa earlier said he would invoke parliamentary immunity and stay at the Senate premises indefinitely in the event that the ICC issues a warrant for his arrest.
In a press briefing on Thursday, Palace Press Officer Claire Castro said the country is duty-bound to
comply with such a request from the Interpol since it also benefits from the cooperation of the Lyonbased organization in pursuing Filipino fugitives abroad.
She cited the same reason, when President Marcos authorized the country’s cooperation with the Interpol in the serving of the ICC
arrest warrant against former President Rodrigo Duterte.
Both Duterte and dela Rosa, as well as other Duterte administration officials, are facing crimes against humanity charges at the ICC for their alleged involvement in the deaths of more than 6,000 people in the intensified campaign of the previous administration against illegal drugs and criminality.
“It is necessary [to comply]. We will still do the same [as we did with Duterte]—We will still coordinate with Interpol and we can still use what is stated in the law, in RA [Republic Act] 9851,” Castro said in Filipino.
Under RA 9851 or the Philippine Act on Crimes Against Humanitarian Law, Genocide, and Other Crimes Against Humanity, the government may surrender or extradite suspect or accused persons in the Philippines to the appropriate court, if any, or to another State pursuant to the applicable extradition laws and treaties.
Castro made the remark after
dela Rosa said he is considering staying indefinitely within the Senate, where he is covered by parliamentary immunity, or to go into hiding to avoid arrest from the Interpol.
Castro chided dela Rosa, who is Duterte’s first National Police chief, for making a statement on evading arrest.
“Well, anyway, we said we would not—we do not agree with that kind of belief and what he wants to do. It would not be good for our countrymen if their leader will not face any case of complaint that has been filed or will be filed against him,” Castro said. She also called out dela Rosa for not accompanying Duterte, despite being one of his close allies, during a campaign sortie in Hong Kong earlier this month amid rumors that ICC will also be issuing an arrest warrant against him soon.
“Shouldn’t friends always watch each other’s back?” Castro asked, commenting on dela Rosa’s absence when Duterte was arrested.
‘Marcos continues to trust Guevarra’
OLICITOR General Menar -
Sdo I. Guevarra continues to enjoy the trust of President Marcos despite his refusal to represent the government in the three habeas corpus petitions filed by the children of former President Rodrigo R. Duterte at the Supreme Court (SC).
In a press briefing on Thursday, Palace Press Officer Claire Castro said the President did not call for Guevarra’s resignation after the latter said he cannot effectively mount a defense for the respondents in the three petitions.
“When I asked him [Marcos] if SolGen would resign, he said, ‘I am not asking for his [Guevarra’s]
sion over the jurisdiction of ICC, questioning how the ICC could still exercise jurisdiction over the Philippines, given that the country had withdrawn from the Rome Statute on March 17, 2018.
"I am perplexed. The Department of Foreign Affairs made it very clear that as we withdrew (from the ICC), we are no longer a state party to the treaty. And now you are saying that we can nevertheless fall under the ICC under the general rubric of international humanitarian law. So, it doesn’t matter whether you sign or do not sign a (treaty) or ratify or do not ratify,” Marcos told Justice Secretary Jesus Crispin Remulla National Security Adviser Eduardo Año also attended the hearing as Duterte was indicted on charges of crimes against humanity, which include extrajudicial killings during his tenure as Mayor of Davao City and as President of the Philippines, until the country’s withdrawal from the Rome Statute in 2019. Año said he is not aware, much more a part, of a core group that planned the arrest of Duterte, and that his mandate is to ensure that any situation will not escalate into a security crisis.”
Año served as chief of staff of the Armed Forces (AFP), and later on as the Secretary of the Interior and Local Government during the Duterte administration.
resignation.’ So, that’s all he said. So, his trust in SolGen Menardo Guevarra is still there,” Castro said in Filipino.
On Monday, Guevarra said he cannot defend the government on the said petitions, which questioned the legality of International Criminal Police Organization’s (Interpol) arrest of Duterte through an International Criminal Court (ICC) arrest warrant.
Duterte is currently detained in the Netherlands awaiting hearing of his crimes against humanity case for the deaths of 43 fatalities in his war on drugs, both nationwide and in Davao City, where he served as mayor before assuming the presidency.
Guevarra maintained that the ICC should be barred from exercising jurisdiction in the country and that its intervention is unnecessary since local investigative, prosecutorial, and judicial systems are working.
Castro called on Guevarra last Tuesday to assess himself if he is still worthy of maintaining his position after his recusal
The Solicitor General said he will let President Marcos decide on the matter.
Castro said last Thursday Marcos already talked to Guevarra and he said he still trusts the incumbent Solicitor General.
Marcos’ decision to retain Guevarra comes after he accepted the resignation of high ranking officials in his administration including former Philippine Health Insurance Corporation (PhilHealth) President and chief executive officer Emmanuel R. Ledesma, Jr., former Department of Transportation (DOTr) Secretary Jaime J. Bautista, former Presidential Communications (PCO) Cesar B. Chavez, former Presidential Security Command (PSC) chief Major General Nelson B. Morales, and former Department of Information and Communications Technology (DICT) Secretary Ivan John E. Uy. Samuel P. Medenilla
Civil unrest concerns unfounded–legislators
CONCERNS about possible civil unrest following the arrest of former President Rodrigo Duterte by the International Criminal Court (ICC) are unfounded, House leaders said, as law enforcement agencies maintain normal alert levels despite misleading narratives circulating on social media.
House Assistant Majority Leader Zia Alonto Adiong dismissed claims that mass protests have erupted nationwide in response to Duterte’s detention.
“I don’t think there should be any reason for us to say that this would lead to something massive because it is not happening. All these pockets of rallies are just mere expressions of sentiment of their supporters,” Adiong said in a news conference.
He said that while the police are monitoring the situation, there is
Pno justification for raising the national alert level.
Adiong, of Lanao del Sur, warned that the real issue is the spread of fake news on social media, where misleading images and videos have been used to exaggerate public reaction to Duterte’s ICC case.
“We need to counter fake news because some people both here and abroad—might get the wrong impression that civil unrest is happening,” he cautioned.
House Deputy Majority Leader Paolo Ortega V echoed Adiong’s concerns, pointing out that disinformation has been deliberately used to create a false perception of nationwide chaos.
“People need to be more discerning, especially with the rise of fake news. I’ve seen some so-called protest images, but the lighting in those photos is pink. That alone
is questionable,” Ortega, of La Union, said.
He emphasized that the House of Representatives is actively addressing the issue through congressional hearings.
“This has become a serious concern, which is why the House, through the Tri-Com hearings, is ensuring that freedom of speech is preserved while preventing the misuse of social media,” he said.
Ortega added that these hearings aim to strike a balance between protecting free speech and preventing its exploitation for misinformation.
When asked about the apparent targeting of journalists by disinformation campaigns, Adiong stressed the importance of distinguishing between professional journalism and unverified vlogging content.
“Journalists follow ethical standards and internal editorial processes before publishing information. Their work undergoes fact-checking, unlike vloggers who often blur the line between opinion and factual reporting,” Adiong explained.
He warned that many vloggers mislead their audiences by presenting opinions as facts without proper verification.
“They tend to act as if they are there to provide information when in fact, if you look at it, it’s more of their opinion backed up by unverified references,” he said.
Ortega emphasized that journalism, unlike vlogging, is governed by professional and ethical standards. He urged the public to be more discerning about their sources of information, especially on social media. Jovee Marie N. dela Cruz
Banana exporters ask govt to coax Japan to lower tariff
By Manuel T. Cayon @awimailbox
DAVAO CITY—Banana exporters here renewed their appeal to the Philippine government to persuade Japan to lower its tariff on Philippine bananas to level the playing field with new exporters to this prime market that was once the dominated by Filipino banana exporters.
Members of the 24-member strong Pilipino Banana Growers and Exporters Association Inc. ( PBGEA ) issued the appeal anew to the Department of Agriculture “to push for the elimination, if not the reduction, of tariffs for Philippine fresh Cavendish bananas in Japan.”
Tiu-Laurel prior to its participation in Foodex Japan 2025 on March 10, Pbgea raised its position to in time for his meeting with his Japanese counterpart, Minister Eto Taku of the Ministry of Agriculture, Forestry and Fisheries (MAFF), the Pbgea said in a statement.
The Philippines has been Japan’s biggest source of fresh bananas, it said, “yet its market share has been decreasing annually with the entry of neighboring Asian countries such as Viet Nam, Lao PDR, and Cambodia.”
compared to Philippines.
Japan imposed a tariff of 8 percent during summertime, and 18 percent during winter season.
Pbgea said tariff is higher during the winter months because it is harvest time in Japan, “a sort of protectionism for local fruits.”
It added that the Philippines dropped its dominance in the Japan market to only 74.7 percent as of last year, from a high of 94 percent in 2012.
Marcos vetoes measure declaring Pampanga PHL’s
‘culinary capital’
By Ashley Manabat
NGELES CITY—
ACiting concerns over its historical basis, lack of thorough research, and potential to foster regional biasm, President Marcos vetoed the enrolled bill that declares Pampanga as the “Culinary Capital of the Philippines.”
The veto sparked various reactions among Capampangans, especially among culinary advocates and experts.
PBGEA’S appeal also came in the wake of increasing preferred status of banana exports from newcomers in the Japanese market, which were currently granted as much as zero tariff owing mainly to the favorable concession also granted by their respective governments in bilateral trade agreements with Japan.
In a face-to-face dialogue with Agriculture Secretary Francisco
It said these countries were the new suppliers, aside from Latin American suppliers, whose tariffs were either zero or gradually reduced. PBGEA said previously that particularly for the Asian exporters, these were not exporters of banana, nor were they known to be growers of the exportable Cavendish variety. But multinational banana exporters with plantations in Mindanao began to tap these countries for expansion three decades ago, over their projected advantage position as nearer the choice markets of Japan, China, South Korea and the Middle East,
Developers, businessmen undeterred by political noise–consultancy firm
WITH the current political bickering, real estate developers are instead focusing on making the Philippines a good investment destination, a property consultant firm said.
Joey Roi Bondoc, director and research head of Colliers Philippines, said developers are wise enough to tune out all these political noise that they are hearing and are more concerned on the issue such as National Land Use Bill or the Right of Way Acquisition Act. “I think developers, investors, buyers and businessmen were able to isolate this political bias from
the usual daily business,” Bondoc said at the company’s briefing. With elections coming, just before an election ban, the local officials ramp up the construction of local infrastructure projects.
“And as we always say, when you look at these infrastructure projects, they have the potential to raise the prices of property, of land that you own,” he said. During presidential elections, meanwhile, it has a “positive impact” on real estate sales, especially 12 months after the election of a new president. A major demand-driver for
assisting certain sectors.”
Solidum explained that USAid has its own projects where
property product, he said, is that whoever sits as a new President in Malacañang, there will be a spillover on sales on real estate products.
“But I think right now, what’s interesting is that even if we have some political differences and political differing, with the left and right, the government, not just the current administration, but even the previous administration implemented a lot of crucial reforms,” he said.
The liberalization of the economy, he said had a positive impact on retail space absorption, on office space take up.
DOST is a partner, rather than a recipient of direct financial support.
“We don’t have a project that they fund. It’s their project, and they’re asking us to work with them,” he added.
The United States previously announced significant cuts to foreign aid, including devel -
PBGEA added that Mexican and Peruvian bananas imported in Japan also have zero import duties as provided in its respective economic partnership agreements with the Asian country.
It also pointed out that these South American exporters enjoyed government subsidy that their exporters did not have to worry on freight and storage costs making them all the more competitive, if not, cheaper than Philippine bananas.
Japanese tariff on Philippine bananas, on the other hand, were as high as 30 percent, and Pbgea said this has to do with the general consensus points in the country’s trade agreement with Japan.
“Developers are, of course, very positive with all of these pro-reform, pro-business reforms being implemented by our politicians. So I think that enacting all these pro-business policies is essentially shielded from all these political mist that we see in the market right now,” he said.
The country’s removal from the grey list of the Financial Action Task Force also had a positive impact on the country’s real estate sector.
“It reduces the transaction cost for a lot of Filipinos working abroad, therefore, allowing them to send more money to the Philippines and as you saw the residential purchases or money being allocated to residential leasing,” he said, adding that more money will be funneled into the real estate sector.
VG Cabuag
opment assistance programs, under US President Donald Trump’s administration.
Meanwhile, the DOST chief assured that the agency continues to focus on research and development programs supporting local innovation, disaster resilience and technology advancement in the country. Bless Aubrey Ogerio
The bill, authored by Sen. Lito Lapid in the Senate, and by Pampanga Repsm. Anna York Bondoc, Carmelo Lazatin II, Aurelio Gonzales Jr., and Gloria Macapagal Arroyo in the House of Representatives passed both chambers with unanimous support.
While acknowledging Pampanga’s culinary excellence, Marcos said the bill could undermine the country’s diverse culinary traditions and emphasized that the Filipino cuisine’s strength lies in regional variations which collectively define the country’s culinary identity.
Part of the President’s veto message read: “It cannot be denied that Pampanga is celebrated for its diverse and flavorful dishes, traditional cooking methods and a strong culture of food innovation. I believe that one must travel to our islands to identify the tastes and flavors that express our culture. This richness in terms of regional differences is the strength of our Filipino cuisine.”
“In consideration of the possibility that the enrolled bill may cause negative cultural implications, discrimination, regional bias, and loss of diversity, I am constrained to veto the abovementioned enrolled bill,” Marcos also said.
Renowned Capampangan chef and culinary advocate Jam Melchor said the President’s veto “opens an important conversation about the state of the Filipino food system,” stressing that Pampanga’s culinary heritage “has long been acknowledged, not by decree but by the quality and authenticity of its food traditions.”
Melchor added:
“Pampanga has long been recognized as the Culinary Capital of the Philippines— not by request, but by the weight of its rich history, culinary excellence, and the generations of artisans who have kept its traditions alive. This recognition was bestowed upon the Kapampangans long before the internet amplified our food stories.”
Director Robby Tantingco of the Center for Capampangan Studies, also expressed his thoughts on the veto and highlighted that the country already celebrates its distinct culinary heritage. In his Facebook post, Tantingco pointed out the unanimous support of both the Senate and Congress. He also cited international recognition from food experts and global publications who have recognized its value such as The New York Times, Conde Nast, and Anthony Bourdain.
Lapid, Arroyo, and the other Pampanga legislators have yet to comment on the bill’s veto. have released comments on the veto as of this writing.
PCC seeks inclusion of competition law in curricula
By Andrea San Juan @andreasanjuan
THE Philippine Competition Commission (PCC) has partnered with the Legal Education Board (LEB) and the University of the Philippines College of Law Competition Law and Policy Program (UP CLPP) on programs aimed at integrating competition law into academic curricula.
In a statement on Thursday, PCC said the Specialized Academic Track and Post-Graduate Certificate Program on Competition Law was launched in a ceremonial signing event on March 14.
The country’s competition watchdog said this initiative will strengthen legal education and expertise on competition law in the Philippines.
“Developed through extensive consultation with legal education institutions, the two academic programs align with the Philippine Competition Act and international best practices on competition law,” PCC said.
For her part, PCC Commissioner Lolibeth Ramit-Medrano underscored the importance of these programs amid globalization of trade.
PCC said the Specialized Academic Track under the Juris Doctor program consists of a 12-unit curriculum focused on core competencies in competition law.
“It covers essential topics such as anti-competitive agreements,abuse of dominance, merger control,and the impact of emerging technologies on competition,” PCC explained.
The competition watchdog said the Post-Graduate Certificate Program is a 64-hour or 16-week intensive course designed for professionals—including lawyers, economists, and policymakers—seeking specialized training in competition law.
“It delves into key areas such as anti-competitive practices, market monopolization, mergers and acquisitions, consumer protection, and regulatory enforcement,” PCC noted.
According to PCC, the program also follows a “stackable credential system,” allowing participants to credit completed courses toward a Master of Laws degree.
Following the ceremonial approval, PCC said the Technical Working Group (TWG) behind the specialized programs discussed next steps,including the conduct of training for law college professors and instructors,and integrating competition law principles into “broader” legal subjects.
The TWG is composed of members from the PCC,LEBA, and UP CLPP.
“With globalization of trade,investments and services,competition law is a powerful tool to provide safeguards designed to protect consumer welfare at the same time foster a balanced,competitive and dynamic business environment,” Medrano said.
March 21, 2025 A5
DepEd enlists NBI to investigate alleged abuses in senior high voucher program
By Claudeth S. Mocon-Ciriaco @claudethmc3
The Department of e d ucation (Dep e d ) tapped the National Bureau of Investigation (NBI) to launch an independent investigation into alleged abuses in the Senior h i gh School (S h S ) Voucher Program.
e d ucation Secretary Juan e d gardo “Sonny” Angara said that the probe is part of their commitment in upholding transparency and accountability.
“We will ensure that the ShS Voucher Program remains a tool for educational access, not a loophole for fraud. We are strengthening safeguards, reinforcing accountability, and making sure only rightful beneficiaries receive assistance,” said Angara, who is already eight months into his term, rallied the Central Office to inform the public of anomalies in the program.
he authorized the executive Committee to pursue all legal and administrative actions necessary to protect the program’s integrity and prevent future irregularities.
Stricter measures
De PeD also assured lawmakers of its full cooperation in addressing concerns regarding the program’s implementation during a house committee hearing last Wednesday, March 19.
To prevent future irregularities, Dep e d is implementing stricter measures and enhanced validation protocols.
The verification process now involves multiple layers, beginning with crosschecking data between the Voucher Management System (VMS) and the Learner Information System (LIS) to ensure that learners listed in the billing statements are genuinely enrolled in the school.
The second level of validation is conducted at the Central Office (CO), where discrepancies between billing statements and LIS records are flagged.
If inconsistencies are found, payments to schools are withheld until the issues are resolved.
A post-billing monitoring process follows, conducted by the Private e ducation Assistance Committee (Pe AC), which oversees participating schools on the ground.
The final layer of verification is Depe d ’s post-validation review, ensuring all prior verification processes have been completed before payments are made.
Dep e d has also engaged Regional and Schools Division Offices (ROs/ SDOs) to conduct school inspections and submit detailed reports to the Central Office, a measure implemented in SY 2024-2025. Additionally, Pe AC validation for the second semester is set to begin next month.
School monitoring has also been expanded, with the percentage of schools undergoing evaluation increasing from 10 percent to 20 percent.
Upgrading LIS
De P eD is set to upgrade the LIS to include an audit trail to track all changes, automatic email alerts for data updates, and a system that maintains a complete learner history.
In addition, Dep e d is reviewing proposals for the recognition of S h S p rivate schools to further refine program implementation.
As investigation progresses, Dep e d reaffirms its commitment to transparency and assures its full cooperation with Congress, the NBI, and other relevant authorities in holding accountable those responsible for any wrongdoing.
Solons welcome survey result on Duterte EJK war on drugs
By Jovee Marie N. dela Cruz @joveemarie
LEADERS of the House of Representatives on Thursday described the latest Social Weather Stations (SWS) survey as a clear reflection of public sentiment, showing that a majority of Filipinos support holding former President Rodrigo Duterte accountable for extra-judicial killings (EJKs) linked to his administration’s war on drugs.
House Assistant Majority Leader Zia Alonto Adiong said the survey results convey a strong message from the people.
“It’s a clear message that the public supports this development. especially in terms of allowing the former president to have his day in court at the ICC,” Adiong, of Lanao del Sur said in a news conference.
Commissioned by the Stratbase Institute, the SWS survey found that 51 percent of respondents agree that Duterte should face charges for EJKs before the International Criminal Court (ICC), while 25 percent disagree. Another 14 percent remain undecided, and 10 percent are unfamiliar with the issue.
House Deputy Majority Leader Paolo Ortega V said that the survey results reflect the true voice of the Filipino people.
“ Pulso ng bayan iyan . Whatever the people’s sentiment is, we respect it,” Ortega, of La Union, said during the same briefing.
Adiong pointed out that the public is more concerned about why Duterte is facing charges at the ICC rather than the legal technicalities surrounding his case.
“I think people are focused on why he’s there in the first place, not so much on the technicalities. That’s the core issue here. Does he deserve a day in court at the ICC or not?” he said.
He noted that the charges against Duterte are severe, involving crimes against humanity.
“Now, if yes, then what are the cases being filed against him? It’s a crime against humanity. You know, 30,000, I guess, is the number. So, 30,000 died during his time,” he pointed out.
Adiong added that Filipinos have a strong sense of morality and justice.
“No amount of legal maneuvering can distract the public from the core issue at hand—the need for Duterte to answer for the thousands of deaths under his administration, Adiong also said.
Protecting Filipinos from the scourge of text and online scams
DESPITE the implementation of the SIM Registration Law (Republic Act 11934) aimed at curbing the proliferation of text and online scams in the country, we continue to grapple with a surge in these fraudulent activities. This development raises concerns about the effectiveness of the law in achieving its intended purpose, and whether it has merely driven scammers to adapt and evolve their tactics, rather than being deterred by the new regulations.
T he recent leadership change at the Department of Information and Communications Technology (DICT) presents a timely opportunity to reassess and strengthen the country’s efforts to combat the rampant text and online scams that have been plaguing our citizens. Camarines Sur Rep. Luis Raymund Villafuerte’s call for a comprehensive review and overhaul of the SIM Registration Law is a welcome move that deserves urgent attention from our lawmakers and law enforcement agencies. (Read the BusinessMirror story: SIM law’s ‘ineffectivenes’ worries CamSur legislator, March 18, 2024).
T he fact that millions of phone numbers have been blacklisted or deactivated due to suspected cyber fraud, and the Cybercrime Investigation and Coordinating Center (CICC) continues to receive numerous complaints about unwanted text messages, is a stark reminder of the law’s ineffectiveness in curbing these scams. The penalties imposed by RA 11934, including prison terms of up to six years and a cash fine of up to P4 million, have clearly not deterred unscrupulous individuals from perpetrating these crimes.
V illafuerte’s proposal for a collaborative effort to amend the 2022 law is a step in the right direction. Mandatory in-person registration, limiting valid IDs to restrict the types of government-issued IDs accepted for registration, and authorizing the National Telecommunications Commission (NTC) to regulate the number of SIM cards individuals can register are all measures that can help prevent the misuse of SIM cards and reduce the incidence of text and online scams.
Moreover, our authorities need to double down on their anti-cybercrime efforts and stricter enforcement of RA 11934 and RA 10175, or the Cybercrime Prevention Act of 2012. The latter law imposes penalties ranging from P50,000 to P1 million or imprisonment of up to 12 years for cybercrimes like illegal access to or interception of computer data, cybersquatting, computer-related fraud, forgery or identity theft, and unsolicited commercial communications.
T he fight against text and online scams requires a multi-faceted approach that involves not only tougher laws and penalties but also increased public awareness and education. Our citizens need to be empowered with the knowledge and skills to protect themselves from these scams, and our law enforcement agencies must be equipped with the necessary resources and tools to track down and prosecute perpetrators.
A ll citizens deserve to feel safe and secure in their digital interactions, unburdened by the ongoing threat of scams and fraud. The DICT, under the leadership of Undersecretary Paul Mercado, must heed the call for reform and work closely with Congress, the NTC, and other relevant agencies to overhaul the SIM Registration Law and bolster the country’s anti-cybercrime measures.
O nly through a comprehensive and collaborative approach can the government truly protect its citizens from the scourge of cybercrime and restore their trust in the digital landscape.
TKUWENTONG PEYUPS
HE Chinese animation “Ne Zha 2” showcases elements of Confucianism, which in essence reflects Filipino values that have been significantly influenced by Christian morals.
Watching “Ne Zha 2” last weekend revived my interest in Confucianism, which I first encountered during my history and philosophy classes at the University of the Philippines.
Nezha is a prominent figure in Chinese mythology as a child warrior deity known for his rebellious spirit and powerful abilities, often depicted as a protector of the innocent and a fighter against evil.
“
Ne Zha 2” continues to delve into the captivating story of the iconic character deeply rooted in Chinese folklore, loosely adapting the two-volume 16th century Chinese novel called Investiture of the Gods (Fengshen Yanyi).
It explored themes of rebellion, fate, and self-worth, while also showcased the spirit of collectivism and traditional Chinese values.
T hroughout the film. Ne Zha’s human mother Lady Yin showed many acts of kindness to her third son—despite his mischievous nature as a demon.
Lady Yin protected Ne Zha several times, even when he performed horrendous actions such as the killing of Ao Guang’s third son, Ao Bing.
A n emotional scene was when
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Ne Zha was struck by the “heartpiercing curse,” a brutal spell that covers his body in ten thousand thorns, causing unbearable pain and keeping him under control by targeting his heart.
L ady Yin clings to him as his thorns pierce her skin—yet she refuses to let go—a moment of heartbreak, parental love and inner awakening.
A s Lady Yin takes her final breath, in Ne Zha’s grief, his body shatters into a million pieces. And then, he is reborn and awakens to “Rén” (benevolence).
I n Confucianism, “Ren” (benevolence humaneness, and love for others) is one of Five Constant Virtues while the other four are “Yi” for righteousness, justice, and acting according to what is morally right; “Li” for propriety good manners, and rites; “Zhi” for wisdom, knowledge, and understanding; and “Xin” for trustworthiness, faithfulness, and integrity.
C onfucianism emphasizes the importance of having a good moral character, which can affect the world around a person through the idea of cosmic harmony.
Ne Zha’s rebirth from a lotus
blossom and his acquisition of new weapons and abilities is a Confucian metaphor for personal transformation and the potential for growth and self-improvement. In essence, Confucianism does not deviate from Filipino values, which has been greatly influenced by Christian morals.
It carries out what is known as the alpha and omega of one’s moral life— the principle of Chung (loyalty)—do to others what you wish yourself— and Shu (consideration)—do not do to others what you do not wish yourself.
T his Chinese golden rule is the same as that of the biblical teachings of the Christian church to the Filipinos.
Just like the followers of Confucianism, the Filipino Christians value their relationships with others (loyalty); giving what is due to others and making sure they do not impede on freely exercising the human rights and dignity of their fellow Filipinos (consideration).
T he Filipino concept of utang na loob (debt of gratitude or obligation) has similarities to the Confucian concept of “en” (reciprocity), emphasizing the importance of repaying favors and maintaining social relationships.
T he concept of “xiào” (filial piety) resonates with the Filipino concept of pakikisama (social harmony) and respect for authority.
Filipinos are known for their strong respect for elders, a value that aligns with Confucian principles of hierarchical social order.
Mothers like Lady Yin, in Confucian thought, play a crucial role in maintaining social harmony and upholding familial values, including filial piety and respect for elders.
Just like the followers of Confucianism, the Filipino Christians value their relationships with others (loyalty); giving what is due to others and making sure they do not impede on freely exercising the human rights and dignity of their fellow Filipinos (consideration).
Mothers nurture their children and instill in them the values of virtue, speech, comportment, and work. Confucianism teaches that true morality is not imposed by rules but arises naturally from within. W hile Ne Zha is often portrayed as a rebellious figure, his story also touches upon important Confucian themes of social order, filial piety, and the pursuit of a righteous path.
Ne Zha does not just seek revenge but he fights for those who have been oppressed, embracing his identity with unwavering resolve.
A lthough Confucianism was not directly adopted by Filipinos as a religion or a formal system of beliefs, certain Confucian values have been integrated into Filipino culture through interaction and adaptation. I w atched Ne Zha 2’s special screening at Fishermall, hosted by the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII).
(Peyups is the moniker of University of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@sapalovelez. com, or call 0908-8665786.)
Turkey detains Erdogan’s top rival, triggering market meltdown
By Beril Akman, Inci Ozbek & Tugce Ozsoy
TURKISH authorities detained President Recep Tayyip Erdogan’s top political rival on corruption charges and later intervened heavily in the currency market to stem the worst selloff the country has seen in years.
Istanbul Mayor Ekrem Imamoglu, the most popular Turkish politician who could one day challenge the president’s rule, was taken into custody on Wednesday, sparking protests from members of opposition parties.
T he mayor’s detention highlights an increasingly aggressive campaign that Erdogan is waging against critics to silence dissent. He also needs to broaden his support base at parliament to have a shot at running for office again after hitting the two-term constitutional limit. The probe against his most formidable challenger serves as a stark reminder of the risks involved in investing in Turkey, where assets posted the biggest declines worldwide. Authorities said as much as $9 billion were spent in less than a day to support the lira, which showed some signs of stabilizing as investors bet the risk of a reversal in economic
policies remains limited.
Erdogan has “always said that he respects the election process and his term limits. What has happened this week throws that into fundamental doubt,” said Richard Segal, a fixedincome analyst at Ambrosia Capital in London. “With that in mind, it is likely a repricing in progress, rather than a continuing deterioration of market sentiment and economic policies should remain orthodox.”
Market mayhem
TREASURY and Finance Minister Mehmet Simsek, whose decision to join Erdogan’s government two years ago boosted markets, stepped in to reassure investors, saying that the government’s economy policy remain unchanged.
“ The economy program we have been implementing continues in a determined fashion,” he said on X.
T hat did little to mitigate the slump in equities and government debt. The nation’s stocks dropped so abruptly that they twice triggered trading halt, before trading 7.9 percent lower at 4:01 p.m. in Istanbul. The yield on lira denominated, 10-year government bonds surged 210 basis points to 30.29 percent.
The lira weakened as much as 11
percent before trimming losses to 3.5 percent to trade at 37.9535 per dollar.
The currency’s relative stability was underpinned by an intervention by the nation’s banks, which sold between $8 billion to $9 billion on Wednesday, a central bank official with direct knowledge of the matter told Bloomberg.
T he bank is “closely monitoring developments in foreign exchange markets and intervening against volatility when it deems necessary,” the official said, asking not to be identified, citing the sensitivity of the matter.
T he severity of the latest political crisis means market downturn may last longer than many anticipate, according to Bernd Berg, a Londonbased strategist at In Touch Capital.
I think the news out of Turkey is shocking and will put Turkish assets under heavy selling pressure for months to come unless President Erdogan reverses course,” Berg said. “For me it is a deja-vu, It reminds me of similar periods over the last decade when negative domestic news were the trigger for a sustained and longer lasting selloff.”
Imamoglu’s diploma A DAY before Wednesday’s probe burst into public, authorities decided to
revoke Imamoglu’s university diploma, citing irregularities. If finalized, that alone would bar the mayor from challenging Erdogan in future elections as having a university degree is required to run for president. A conviction on the current charges including bribery and corruption would also disqualify him from holding national office.
I mamoglu, who already beat Erdogan’s handpicked candidates in municipal elections twice in the last six years, said the police force was being weaponized to bring his political career to an early end. He was set to be named by the main opposition party CHP on Sunday as their presidential candidate. Turkish authorities banned any protests, rallies and press conferences for four days to preempt mass rallies. National TV outlets showed footage of a group of students protesting in front of Istanbul University, where Imamoglu obtained his diploma. L awmakers of the opposition party also protested his detention in the Turkish general assembly, bringing parliamentary sessions to an end for the day. (With assistance from Srinivasan Sivabalan, Ugur Yilmaz and Selcuk Gokoluk / Bloomberg)
Dennis Gorecho
The anatomy of lying
Lying to the young is wrong.
Proving to them that lies are true is wrong. Telling them that God’s in his heaven and all’s well with the world is wrong.
TTito Genova Valiente
ANNOTATIONS
—Lies by Yevgeny Yevtushenko
HE question about lies is not so much how difficult it is to spot them, but how easy it is at present to form followers around them. Disciples abound with regard to any kind of institutions that require faith or following; loyalty to politicians has turned into cults, creating divisions among communities and polarizing human groups.
T he recent arrest, for example, of former president Duterte, has spawned varied reactions, the variants of which could only be characterized in general by those that can be checked as either real or imagined. No amount of logic can dislodge lies so blatant they are disproved on the spot. The narrative about Duterte being kidnapped and forced onto the plane persists even up to the moment Medialdia, the former executive secretary, recites it as a legal point before the International Criminal Court (ICC). The retort of course from those who bristle at the outright lying is the logical “if Duterte were kidnapped, what were you doing there in the plane with him?”
Senator Bong Go, in Davao, tearfully recalls how his “president” was allowed to go unshod, with this comment placed alongside Duterte shown with his shoes on. The protests that were reported to have followed the said arrests were a prime example of the great untruth: massive Marian processions were passed off as huge crowds for Duterte and even the massing of football fans in Argentina was not spared from utilization. It did help how social media, a favorite instrument of deceit, has become also the tool for gloriously amusing revelation. Perhaps, the adage indeed is true about how a lie when repeated over and over is transformed into truth?
A nd so we ask, what are the uses of lying? Why do people lie?
C arole McGranahan in her paper “An anthropology of lying. Trump and the political sociality of moral outrage” provides a fitting context by telling us how we know that politicians lie and we expect them to lie. She says: “But for many of us in the United States right now—anthropologists included—it feels like we have surpassed ‘politicians lie’ as a normative or hegemonic sort of claim.” She continues: “Things feel different. Donald Trump is different. By all metrics and counting schemes, his lies are off the charts. We simply have not seen such an accomplished and effec-
Top leaders flee pipeline safety agency as Trump pushes to build
By Jacob Wendler
AN exodus of senior officials is adding pressure to the already strained agency that oversees millions of miles of US oil and gas pipelines.
Five senior leaders at the Pipeline and Hazardous Materials and Safety Administration (PHMSA), including the head of the Office of Pipeline Safety, accepted a buyout offer from Elon Musk’s Department of Government Efficiency, and two other staff members decided to retire, Bloomberg previously reported. T he exits, combined with Trump’s federal hiring freeze, will leave more than half of the senior executive roles at the agency empty. Pipeline inspectors are not eligible to take buyouts, but as DOGE and agencies lay off workers across the government, the regulator has dismissed some rank-and-file employees, including administrative assistants at its regional offices. The downsizing of PHMSA comes as the Trump administration aims to deregulate the energy industry and ramp up pipeline construction in North America. He has openly supported projects such as the Constitution Pipeline—which was previously cancelled—and the Alaska LNG project that will transport natural gas across the state. PHMSA, which is part of the US Department of Transportation, had nearly 650 full-time employees as of May 2024.
PHMSA is a notoriously underfunded, under-resourced agency as it is,” said Bill Caram, executive director of the watchdog group Pipeline Safety Trust.
“We have new pipelines being built, we have a whole new class of pipelines being introduced,” he said, referring to the network of CO2 pipelines being built out for carbon capture and storage. “This is a time when we should be building up the agency to take on all these new challenges, and any reduction would definitely be a concern to us.”
A PHMSA spokesperson said the agency “is proud of the work it does to protect the public from the transportation of energy and other hazardous materials, and that mission has not changed.”
Vacant positions could be particularly challenging to fill at PHMSA, which has historically struggled to compete with the private sector to attract and retain talent, said the agency’s former administrator,
Cynthia Quarterman. And more staff could retire, given that a large share of the federal workforce is eligible. That would be “a huge hit to the agency,” she said.
T hose employees who stay could end up demoralized, said Richard Kuprewicz, a process safety engineer who has advised PHMSA on pipeline safety regulations. “I can see PHMSA taking stretched resources and becoming a lot worse,” he said.
T he agency responds to about 600 incidents a year around the country. One well-publicized recent example is a jet fuel leak in Bucks County, Pennsylvania. A pipeline operated by Sunoco Pipeline LP—a unit of Energy Transfer—was likely leaking for at least 16 months, contaminating water wells in the Upper Makefield Township neighborhood, according to a preliminary report by PHMSA. About 156 barrels (6,550 gallons) of jet fuel seeped into the community according to initial estimates by Sunoco Pipeline, making it the largest refined fuel leak in the state since 2019. The Pennsylvania Attorney General’s Office is currently investigating whether Energy Transfer committed environmental crimes in relation to the leak, according to a spokesperson for the office. We remain fully committed to working with PHMSA and all other applicable regulatory agencies, the Upper Makefield Township and impacted landowners to safely and swiftly resolve this situation,” a representative for Energy Transfer said.
Future funding cuts
PHMSA regulates interstate pipelines, and state agencies oversee intrastate pipelines, but most of states’ funding to hire inspectors comes from PHMSA grants. The agency is authorized to reimburse up to 80 percent of states’ pipeline inspection programs, but it has struggled to meet that threshold in recent years, according to Tristan Brown, who served as the agency’s deputy administrator under the Biden administration. Congress agreed to increase funding to the agency for fiscal year 2024 to help. But that funding
remains up in the air with the agency’s reauthorization currently on the legislative agenda.
C ongress has also consistently raised concerns that the agency is not implementing new rules fast enough, according to Brown. PHMSA attempted to finalize two new rules in the last days of the Biden administration, one concerning the regulation of carbon dioxide pipelines and the other regulating methane emissions. But the fates of both remain uncertain after plans were withdrawn from publication following a regulatory freeze signed by Trump on his first day in office.
R ich Felder, the founder of Common Ground Alliance, a nonprofit trade group for protecting underground infrastructure, says the potential for cuts to state pipeline funding is his biggest concern.
I think that the greatest vulnerability is if they get substantial budget cuts and they can’t sufficiently support the state partners who help them and do the lion’s share of the work in working with companies whose pipelines have significant environmental effects,” says Felder, who spearheaded an overhaul of the Office of Pipeline Safety following the disastrous 1994 Texas Eastern Transmission Corporation natural gas pipeline explosion.
In Pennsylvania, Democratic Senator John Fetterman and Republican Representative Brian Fitzpatrick have called on PHMSA to shut the Energy Transfer pipeline’s operations entirely until investigations and remediation efforts are complete, joining similar calls from Bucks County’s elected officials in the statehouse.
“ No one should have to worry if the water coming out of their tap is safe to drink,” Fetterman said in a statement to Bloomberg News.
D emocratic State Senator Steve Santarsiero said he worries personnel cuts in US regulatory agencies could threaten public safety in Pennsylvania, the country’s second-largest net supplier of energy to other states.
“ When you start laying off as many people as the Trump administration has begun doing, it will have an impact on our ability to regulate industries, and that will impact safety and health for people,” he told Bloomberg. “I think we are kidding ourselves if we think those things aren’t connected.” Bloomberg
tive liar before in US politics. His lies, their content, and their context are as important as the work they do.” Can we say the same thing of the lies being manufactured around the new breed of politicians in the Philippines?
Here is where the value of anthropology factors in our discussion. For the McGranahan paper, which appears in The American Ethnologist, it states how “an anthropology of lies must not ask to correct them but how to understand lies and liars in cultural, historical and political context so that we see clearly the work of lies.”
T hus, an anthropology of lies must ask not how to correct them but how to
understand lies and liars in cultural, historical, and political context so that we see clearly the work of lies, including their meaningful and sometimes violent consequences.
For McGranahan, if truth is social, so too are lies. She talks of lies, which rely on fabrication and interpretation as “forms of intentional manipulation and deception.” From this, she proceeds to inquire on the sociality of lies and answers it thus: “Trump’s lies and his relentless dismissal of facts make him seem authentic to his followers.” The word is “relentless dismissal” and in our local context, this can be similarly phrased when politicians speak of “walang ku-
wenta yan” (that has no value at all) or “hindi natin kailangan yan” (we don’t need that). The anti-intellectual wins! T he paper mentions this kind of lying as “aspirational” and this creates what McGranahan calls as affiliative truths. For her, the “US citizens’ responses to Trump are both affective and social in creating communities of both supporters and protesters. Trump’s lies galvanize moral outrage in (at least) two directions: for some, a moral call for change as a return to a “great” America, but for others, as an outraged response to the racism and misogyny embedded in this call.” As the paper continues, we are called to note how “contradictions lie at the heart of all cultures and Trump’s rhetoric highlights a conundrum of US society….” This confusion plays a role in how Americans think of themselves within their nation.
I n many ways, the lies for the Filipinos function to provide avenues for them to see themselves in the nation that is professed before their very eyes. Who am I? Thus, we have slogans bannering about being Filipinos. For the OFWS, the lies/truths are even more dramatic because distance has created in them the desire to be emotional about their identities. For this anthropologist, “lies are never neutral.” Quoting the political philosopher Hannah Arendt, lies “are also calls to action since they are claims to truth.” Political lies foster new realities, and these realities are there to take the place of other facts that may run counter to them. These so-called lies can rally people behind actions and there can be found their valuation and worth in the game for power.
Understanding weak policy rate pass-through in PHL: Why are bank lending rates so sticky?
By Pim-orn Wacharaprapapong
SINCE inflation in the Philippines started to surge in 2022, the Bangko Sentral ng Pilipinas (BSP) has raised the policy rate by as much as 450 basis points over a threeyear period, with the rate peaking at 6.5 percent in the first half of 2024. However, three months after the last rate hike, the average bank lending rates has risen by only around half of the policy rate hike (Figure 1).
A lthough the hiking cycle has ended with the BSP cutting the policy rate in August 2024, it is worth examining why bank lending rates were so sticky in this last tightening cycle. Given that bank lending is the principal source of financing for households and firms in the Philippine economy, effective monetary policy transmission through changes in bank rates is crucial for achieving the country’s price stability targets.
Figure 1. Philippines Interest Rates
Source: BSP; CEIC
Figure 2. Average Bank Funding Cost
Source: BSP; CEIC
Abundant low-cost deposits, slow bank funding cost adjustments
DESPITE a smooth pass-through from policy rate to short-term market rates, bank funding costs have remained largely unresponsive. Following the 450-basis-point rate hike, average
funding cost for Philippine banks increased by less than one-third of that amount (Figure 2). With funding cost sticky, bank lending rates have also been slow to adjust.
A key reason behind this rigidity is the dominance of low-cost deposits. Close to 90 percent of the liabilities of Philippine banking system come from deposits. Of this, 75 percent are lowcost deposits, mainly demand deposits, negotiable order of withdrawal (NOW) accounts, and savings deposits. This ratio is significantly lower in peer countries like Malaysia (53 percent) and Indonesia (61 percent). As these savings and demand deposits pay lower interest rates and adjust more slowly than term deposits, they keep banks’ funding costs insulated from policy rate shifts.
O ne factor for the abundance of low-cost deposits in the Philippines is the lack of competition from other safe and liquid savings alternatives in the market. In addition, ample liquidity in the banking system reduces the incentive for banks to compete actively for funding by raising deposit rates or attracting more term deposits. Indeed, the Philippines’ loan-to-deposit ratio of around 70 percent is considerably lower than that of peer countries.
Uneven pass-through across loan types
IN addition to the weak transmission to the average lending rate, the passthrough rate varies significantly across loan types. During the latest interest rate upcycle, while corporate loans experienced the strongest passthrough at around 64 percent, SME and household loans saw only 32 percent and 20 percent pass-through rate, respectively. Moreover, interest rates on salary and motor vehicle loans declined even as the BSP raised its policy rate.
T he divergence stems largely from the significant credit risk premium embedded in SME and household lending rates. Due to deficiencies in the credit data infrastructure, banks struggle to accurately assess the risks associated with small borrowers.
Enhancing transmission in lending rates
TO increase the effectiveness of monetary policy transmission to bank lending rates, the following policy approaches can be considered:
1 I ncrease competition in the deposit market by promoting greater availability of savings alternatives, including higher-yielding term deposits and capital market investment products, such as unit trust funds. This initiative can go hand in hand with the BSP’s financial inclusion and financial literacy efforts. At the same time, the government can consider expanding tax incentives for capital market investment vehicles and introducing government-led investment funds. A regional example of these is Malaysia’s Permodalan Nasional Berhad (PNB). These efforts will not only expand savings alternatives but also deepen the domestic capital market.
2 Improve credit data infrastructure to enable banks to better price credit risk and interest rate risk in their lending rates. In addition to borrowing records, credit data can be expanded to include non-traditional sources such as utility payments and online transactions to provide a more comprehensive picture of borrowers’ creditworthiness. A more robust credit reporting system can also improve financial inclusion, as it allows borrowers with strong credit histories to access credit at more favorable rates.
U ltimately, the weak pass-through of policy rate to bank lending rates during the 2022-2024 hiking cycle was primarily due to the insensitivity of banks’ funding costs to the policy rate and the weakness in credit data. Strengthening competition in the deposit market and improving credit data infrastructure will not only enhance the effectiveness of monetary policy in the Philippines but also advance broader financial development and inclusion.
While both public and private credit information providers exist in the Philippines, problems with data quality, coverage, and consistency limit their usefulness. Furthermore, many Filipino households still lack formal credit histories. For these reasons, banks often impose uniformly large mark-ups on lending rates as a prudential measure. When lending rates are dominated by large credit risk premium, changes in the policy rate become muted.
Friday, March 21, 2025
‘Overfishing pushes PHL fish stock to brink of collapse’
By Jonathan L. Mayuga
ILLEGAL commercial fishing activities in municipal waters continue to threaten coastal communities and the country’s food security. Making commercial fishing legal will push the country’s fish stock to the brink of collapse, the country’s food security organizers and participants of a Convergence Summit for the Protection of Municipal Waters said.
They attribute the strong opposition to commercial fishing in municipal fishing ground to the unfair competition between commercial fishers and artisanal and small fishers who depend mainly on fishing as a way of life.
Citing the 2017 National Stock Assessment Program report of the National Fisheries and Research Development Institute (NFRDI), Oceana said 87 percent of the coun-
try’s fishing grounds are already overfished.
The Pambansang Lakas ng Kilusang Mamamalakaya ng Pilipinas (Pamalakaya), a summit participant, said they are banding together to strengthen the ranks of smallscale fisherfolk and civil society organizations for the protection of the municipal waters.
In a brief talk, Pamalakaya Secretary General Salvador France
discussed the implications of the ruling.
There are over 2 million registered small fisherfolk across the country who stand to be affected, he said.
Summit participants expressed their alarm over the compounding impacts of the Malabon Regional Trial Court’s decision that declared unconstitutional the preferential access accorded to municipal fisherfolk and the jurisdiction of local governments in the 15-kilometer municipal waters. The Supreme Court 1st Division issued a resolution last year, upholding this decision.
“Municipal waters are reserved for small-scale fishers. This is aligned with the Constitution that promotes social justice. Yet we see illegal commercial fishers blatantly violating this and outcompeting our artisanal fishers, further intensifying socioeconomic inequalities. This isn’t just an environmental crisis; it’s an economic and food security emergency,” Atty. Liza Eisma-Osorio, acting vice president of Oceana said.
Citing data from the FB Page Karagatan Patrol, monitoring in the
detection of Visible Infrared Imaging Radiometer Suite (VIIRS) from night lights of commercial fishing vessel revealed that commercial fishing illegally operating inside the 15-kilometer municipal waters continues and remains one of the significant threats to efforts to recover the country’s fisheries resources from overfishing, habitat destruction, marine pollution, and coastal projects.
A briefer prepared by the Philippine Association of Marine Science (PAMS), citing the presentation of Dr. Wilfredo Campos in their forum on January 22, said the average catch per fisher dropped from 5 kilograms in 2010 to 4 kilograms in 2023.
Over the past 13 years, the Philippines has lost an estimated 591,136 metric tons of fish. The quantity of fish lost during this period is sufficient to sustain 42 million Filipinos, based on an average per-capita consumption of 14 kilograms.
“This goes beyond mere statistics; it’s a crisis threatening the nation’s food security and the livelihoods of countless Filipino families,” said Osorio.
See “Overfishing,” A2
By Bless Aubrey Ogerio
MORE contributions from the creative sector helped lift the country’s overall economic performance in 2024, preliminary data from the Philippine Statistics Authority (PSA) revealed.
Figures from the PSA showed that the creative economy was valued at P1.94 trillion at current prices, reflecting an 8.7-percent increase from P1.78 trillion in 2023. This sector contributed 7.3 percent to the country’s gross domestic product (GDP).
“The creative economy consists of the following industries: Audio and audiovisual media activities; Digital interactive goods and service activities; Advertising, research and development, and other artistic service activities; Symbols and images and other related activities; Media publishing and printing activities; Music, arts and entertainment activities; Visual arts activities; Traditional cultural expression activities; and Art galleries, museums, ballrooms, conventions and trade shows, and related activities,” the statistics agency stated.
Jobs in the creative field also went up, with 7.51 million people employed in 2024—a 3.9-percent increase from 7.23 million in 2023. That showed 15.4 percent of the country’s workforce was part
of the creative economy. Traditional cultural expression activities employed the most people at 36.6 percent, or 2.75 million jobs. Symbols and images followed with a 29.5-percent share (2.21 million jobs), while advertising, research, and artistic services employed 1.34 million people, or 17.9 percent. The lowest share was in music, arts, and entertainment activities, employing only 0.4 percent or 34,000 people. When it comes to revenue, symbols and images led the way, pulling in P640.29 billion, which made up 33 percent of the total creative economy. Advertising, research, and artistic services brought in P414.53 billion (21.4 percent), while digital interactive services contributed P398.95 billion (20.6 percent). On the lower end, art galleries, museums, ballrooms, conventions, and trade shows had a smaller share, contributing P5.73 billion or 0.3 percent. The agency noted that these numbers are from a pilot study, with the methods still being refined.
“The PSA intends to institutionalize the compilation of the Philippine Creative Economy Satellite Account subject to the approval of the PSA Board and provision of budgetary support from the national government,” it said.
6 aliens, 2 Pinoys with POGO ties held in Subic Palace to Imee panel: Be fair in hearings on Duterte warrant issue
By Samuel P. Medenilla @sam_medenilla
MALACAÑANG on Thursday urged the Senate to be fair in its ongoing hearings on the Marcos administration’s decision to surrender President Rodrigo R. Duterte to the International Criminal Police Organization (Interpol) so he can face the case of crimes against humanity against him in the Hague-based International Criminal Court (ICC).
In an interview with state-run television PTV, Palace Press Officer Claire Castro said she hopes representatives from the Executive department will be given sufficient time to explain their position on the arrest in the hearing by the Senate foreign relations committee led by presidential sister, Senator Imee Marcos.
“I hope they can be given [the opportunity] because we have observed our officials could barely speak because of Senator Imee’s stories. I hope they will be balanced [in getting all sides],” Castro said. She also said the video showing the serving of the ICC-issued warrant of arrest against Duterte,
which was shown in the Senate, was “incomplete” on 11 March 2025.
President Ferdinand Marcos Jr. had said he will not stop government officials from attending the Senate hearing to assure the public that the transfer of Duterte to the ICC custody was legal, according to Castro.
His key Cabinet members defended every step taken in serving the warrant on March 11. See related story in A3 Nation.
Legal basis
SENATOR Marcos said the country appeared to have become a “province of Hague” when it handed Duterte to the Interpol so he could be transferred to ICC custody.
She said the Senate hearing on the issue aims to determine if all the necessary measures were taken to protect the rights of Duterte. She said her committee will propose legislated safeguards if it is proven that there were mistakes in the arrest of the former president. Castro maintained that the arrest of Duterte was legal and in line with the provisions of Republic Act No 9851 or the Philippine Act
See “Palace,” A2
SBy Henry Empeño
UBIC BAY FREEPORT—Authorities arrested on Wednesday, March 19, five Chinese nationals, one Cambodian national, and two Filipinos for suspected illegal activities related to Philippine Offshore Gaming Operations (POGO) here at Grande Island, a strategic outpost guarding the seaside entrance to this special economic and free port zone.
A statement from the Department of National Defense (DND) said the arrests were made by a composite team from the Armed Forces of the Philippines (AFP), the National Bureau of Investigation (NBI), and the Subic Bay Metropolitan Authority (SBMA) upon serving a warrant of arrest on Chi-
nese national Qiu Feng, whose real name is Ye Tianwu, also known as Qing Feng. Ye Tianwu, the DND said, was arrested for violations under Republic Act 8799, or the Securities Regulation Code, and RA 10175, also known as the Cybercrime Prevention Act of 2012.
Those also arrested in the Grande Island raid were Chinese nationals Xu Xining, Ye Xiaocan, Su Anlong, and He Peng; Cambodian national Ang Deck/Dick; and Filipinos Melvin Mañosa Aguillon, Jr. and Jeffrey Espiridion, who were identified as employees of Ang Deck/ Dick.
The raiding team led by NBI Director Jaime Santiago reportedly recovered several cellphones and laptops, one caliber 9mm firearm,
and 16 rounds of 9mm ammunition from the suspects.
The arrest, the DND said, “exposes the unlawful nature, including suspected espionage and kidnapping activities related to POGO, for which some foreign nationals are using Grande Island under the guise of private enterprises.”
“Such activities, which may be part of larger criminal network operations, pose a serious threat to our national security,” it added.
The DND statement also pointed to the need to secure the Subic Bay Freeport, including the Subic Bay International Airport and sea ports in the bay area, in consonance with the ongoing development of the naval operating base of the Philippine Navy at the Redondo Peninsula across the Subic Bay.
“The Department looks forward to working with the concerned agencies, including the SBMA, in exploring the possibility of declaring Grande Island, along with nearby Chiquita Island, as military reservations,” it added. It may be recalled that a group of Chinese investors had wanted to take effective control of Grande and Chiquita Islands to further develop them as tourism destinations, but the SBMA had placed the project on hold in 2019 due to “unresolved issues.” Meanwhile, SBMA Chairman and Administrator Eduardo Jose L. Aliño lauded the efforts of the interagency group led by NBI
Editor: Jennifer A. Ng
SPAVI: Store network of all brands to expand this year
By VG Cabuag @villygc
SHAKEY’S Pizza Ventures Inc. (SPAVI), which owns a number of restaurant brands, said it will open at least one store a day and beef up its presence in the Visayas and Mindanao, and will allot at least P1 billion in capital expenditures (capex).
“Last year we spent around P1 billion and this year we will not be spending less than that although we still have not come out with our guidance for 2025,” company president Vicente Gregorio said. He said that the company’s expansion capex will be funded from internally-generated cash.
As of the third quarter of 2024, the company spent about P900 million.
“Definitely, one a day (of store openings) is safe to say. We’re growing that fast,” Gregorio said, adding that Potato Corner will see its store network expand the fastest. In 2024, SPAVI had a target of opening of 450 stores across all brands.
At the moment, the company has almost 300 Shakey’s stores out of its 2,483 store network for all of its
Gregorio said at the moment, a majority of Shakey’s stores are still in Metro Manila followed by North and South Luzon. The company only had a handful of branches in the Visayas and Mindanao.
“What we’re seeing it’s still a big opportunity to grow in Visayas and Mindanao and even outside of Metro Manila, in the provinces up north as well,” he said. “What’s good is that when we enter virgin territories, we have very successful openings.”
“We intend that a majority of our store openings will happen outside of Metro Manila, of which a bigger part of that is down south,” he said.
He said, however the firm is not discounting Metro Manila since there are still opportunities to find great locations that can also further enhance its network and
delivery capabilities.
While having spent the past years strengthening its business in Metro Manila particularly the delivery service.
“Now it’s time to expand and we’re building our capability on finding sites, on finding good franchise partners to help us at least work with the local communities,” he said.
Shakey’s is looking at the opening of 20 new stores this year with half of these to be company-owned while the other will be franchised outlets.
Last year Shakey’s also added 20.
“That’s where the growth will be coming from in the next couple of years. Remember, the economy is not yet in the best shape. We believe the potential or growth is for long term. We’re like a perfect match for those who want better than fast food but lower price than fine dining, so we’re right there. Once the economy improves, that’s where we see a big upside,” Gregorio said.
ACR profit rises to ₧2.53B in ’24
ALSONS Consolidated Resources Inc. (ACR) saw profits increase by more than a tenth in 2024, thanks to rising electricity demand, favorable trading opportunities in the Wholesale Electricity Spot Market and the successful launch of its Retail Electricity Supply (RES) unit.
The listed unit the Mindanao-focused Alcantara Group said it posted an 11-percent increase in net income for 2024, reaching P2.53 billion from P2.28 billion in 2023.
ACR Deputy CFO Philip Edward B. Sagun highlighted the company’s resilience despite operational disruptions caused by the 2023 Mindanao
Converge weighing options for fiber network
ONVERGE ICT Solutions
CInc. is open to exploring opportunities to optimize its fiber network, including potential strategic partnerships and wholesale arrangements.
However, Converge CFO Robert Yu refrained from directly confirming any plans to “carve out” its fiber operations or sell a stake, as speculated in a recent Bloomberg article.
“We always get approached, as I mentioned, by various financial institutions to talk about strategic and financing issues and ways to, I guess, create value for our shareholders. And we have our fiduciary duty to always evaluate these opportunities,” he said.
The Bloomberg report suggested that Converge was considering carving out its fiber operations and selling up to a 40-percent stake in the new entity, potentially valuing the business at $1 billion.
“It’s part of our obligations to our shareholders and to our stakeholders in general and discuss this at the board level if it makes financial sense. And so we will always consider any proposals that come,” Yu said. Lorenz S. Marasigan
earthquake, which impacted the first quarter of 2024.
“Despite this challenge, we demonstrated resilience and achieved a strong recovery, closing the year with solid financial performance,” he said.
The company’s earnings were largely driven by the sustained performance of its 237-megawatt (MW) Sarangani Energy Corp. (SEC) coalfired power plant.
Additionally, ACR benefited from the implementation of ancillary services agreements for Western Mindanao Power Corp. in Zamboanga and Mapalad Power Corp. in Iligan, further strengthening its financial position.
“We are confident that our growth prospects will continue, fueled by the anticipated increase in power demand and our strategic focus on expanding our RES Retail Electricity Supply (RES) portfolio,” Sagun added.
Its RES unit secured clients such as Holcim Philippines and Metro Retail Stores Group, Inc., with a combined contracted capacity of 43 MW.
In February, Alsons Power Group expressed optimism about its growth prospects for this year after completing several power projects in 2024.
The Alcantara-led power firm said it is poised for growth with
the simultaneous implementation of multiple projects. It plans to launch its first large-scale solar power plant in Mindanao in the first half of 2025.
“We are rapidly advancing our solar power initiatives and remain committed to strengthening our project pipeline,” said Antonio Miguel B. Alcantara, CEO of Alsons Power.
Also, Phase 1 of the company’s 95.2-MW Bohol In-Island Diesel Power Station located in the municipality of Ubay is nearing completion, marking a major step in its strategic expansion outside Mindanao. Lorenz S. Marasigan
Club Ananda marks 11 years with sustainable wedding showcase
IN a celebration that blends tradition with innovation, Club Ananda, located within the Sandari Batulao wellness community at the foot of Mount Batulao, is set to commemorate its 11th anniversary on March 29, 2025. This year’s festivities are themed around sustainable weddings, aligning with Club Ananda’s core principles of environmental awareness and wellness. The “A Taste of Sandari” event underscores Club Ananda’s dedication to giving the best celebrations and curating the most memorable events. By promoting these sustainable practices and approaches in events, the venue aims to inspire couples and event planners alike to adopt environmentally conscious choices without compromising style or elegance. Major sponsors such as Kim Torres Events, Juan Carlo the Caterer, and Waveforce Lights and Sounds will contribute their expertise in catering, lighting, entertainment, and event management, promising an unforgettable experience for attendees. A lso, amazing suppliers in the industry have been invited to help couples make the best wedding event of their l ives including Nice Print Photography & Exige Weddings, Dragon Fireworks MLNpyroFx-Bacoor City, Cavite, Wedding Essentials, Howard Castillo, Darlene Tan-Salazar, Flowers For Ever After by Posh Event Stylist, CARLO Events Stylist, Manila Craft Mixes & Brews, Tent King, Forrent, Infinite Soul Acoustic, LA Alañon, The Empanada—Wedding Cocktails, Cocktails Manila – Grazing Table and More, Frossen Fizz Bar, Transfiguration Music Ministry Singers, Dimsum Manila, BBQ Manila, Wild Ribs, Leather Goods Manila, 8willhappen Events Management, Cantó by Wild Ribs, Puzzle Pieces, Party Themes Food Cart, Tagaytay String Lights Rental, BLK 8 Coffee, Pilgrim’s Coffee Shop, and KKK Foodies by Ronell.
Club Ananda believes that incorporating sustainability into wedding planning not only reduces environmental impact but also adds depth and meaning to their 11th-anniversary celebration. By celebrating with such a forward-thinking theme, Club Ananda wants to be an environmentally conscious event-hosting place within Metro
Tagaytay’s wedding scene.
For those interested in attending this unique celebration or learning more about how you can make your wedding more sustainable, you are invited on March 29, 2025, to Club Ananda inside the Sandari Batulao Wellness Residences. Secure your spot today by scanning the QR code or by reaching out directly through their social media channels or website.
Club Ananda is part of the ALC Group of Companies founded by the late Amb. Antonio L. Cabangon Chua and is currently chaired by D. Edgard A. Cabangon.
Engineering conglomerate
DMCI Holdings Inc. said its capital expenditures may hit P70 billion this year, which includes its share in west zone concessionaire Maynilad Water Services Inc.
This year’s capex is 45 percent higher than the previous year’s spending of P48.3 billion, DMCI Chief Finance Officer Herbert Consunji said on the sidelines of the Shareholders Association of the Philippines assembly.
The bulk of its capex this year or about P41 billion will be spent by Maynilad for its expansion and service improvement projects.
Semirara Mining and Power Corp. will continue to be the biggest contributor to its financials.
He said the group expects its power business, both on-grid and off-grid power generation under Semirara Mining and DMCI Power Corp. and the mining business under as well to bring the bulk of the business.
“The biggest one is coming from Semirara. Semirara will have the mining operation and the power plant.”
DMCI reported a net income of P19 billion in 2024, a 21-percent
decline from P24 billion in the previous year, on the impact of weaker commodities and electricity prices, lower construction accomplishments and an anemic real estate market.
Record-high water utility and offgrid power contributions, along with all-time high highest-ever coal shipments and power generation, helped cushion the decline.
“While some of our key businesses continue to face headwinds, our diversified portfolio helped mitigate the impact of challenging market conditions. In 2025, we remain focused on strengthening our group ecosystem with the addition of the cement segment, enhancing operational efficiencies and deploying targeted sales approaches to adapt to evolving market dynamics,” DMCI Chairman and president Isidro A. Consunji said.
For the fourth quarter alone, its income fell by 14 percent to P3.8 billion from P4.4 billion, largely due to weaker contributions from the integrated energy, real estate and construction businesses. Stronger performances from the water utility and nickel mining segments partially offset the decline. VG Cabuag
Cebu solar plant to start operations in 2026—BOI
By Andrea E. San Juan @andreasanjuan
THE operations of green-lane registered Daanbantayan Solar Power Plant, which is currently being built in Cebu, will begin in 2026, according to the Board of Investments (BOI).
“Fast-tracked under the Board of Investments Green Lane Program, the 150-megawatt (MW) Daanbantayan Solar Power Plant broke ground on March 16, 2025, marking a significant step forward in advancing the Philippines’s renewable energy goals,” BOI said in a statement on Thursday.
With a committed investment of P7.5 billion (approximately $130 million), the investment promotion agency said the Daanbantayan Solar Plant is expected to “significantly” cut electricity costs in Cebu.
Once operational in 2026, BOI said the solar plant will not only provide “substantial” clean energy contributions but will also drive economic growth in the region.
For his part, José Manuel Entrecanales Domecq, Chairman and CEO of Acciona said the production of this plant, which has a peak capacity of 176 megawatts, 150 base [capacity], and a battery storage system, is equivalent to the consumption of more than 300,000 people.
Domecq said the Cebu plant is Acciona Energia’s first facility in the Philippines and the biggest under construction in the Visayas.
“This project supports the government’s goal of increasing the share of renewables in the energy mix, ensuring energy security , and promoting sustainable and inclusive economic growth.”
BOI said the commissioning is expected by late 2026, with the facility
projected to prevent about 259,000 tons of carbon dioxide emissions annually, supporting the Philippines’s carbon reduction goals.
Strategically located less than one kilometer from the NGCP Talisay substation, the investment promotion agency noted that the project will serve as a “major link” between the eastern and central parts of the Visayas grid.
“Spanning a 187-hectare site across 45 lots, the facility is positioned to optimize power distribution and efficiency, further bolstering the region’s energy infrastructure.”
The agency also highlighted that this project is the country’s first public-private partnership (PPP) in the energy sector in collaboration with the Cebu Provincial Government.
“The 176 MWp facility is projected to generate approximately 280 gigawatt-hours (GWh) of clean energy annually, supplying electricity to an estimated 300,000 people.”
Acciona Energia Global, a global leader in renewable energy, is leading the project, “drawing on decades of experience in large-scale solar and wind power development.”
As of March 19,2025, BOI’s OneStop Action Center for Strategic Investments has certified 187 projects worth P4.65 trillion. Of these 187 projects, 151 are Renewable Energy projects worth P4.23 trillion; 9 are Digital Infrastructure and PPP projects valued at P364.88 billion; 23 are Food Security projects amounting to P14.37 billion and 4 are Manufacturing projects valued at P36.91 billion. Of the 151 RE projects certified under the green lane services, 3 are operational, 2 are in the pre-operation stage, 19 are in the construction phase while 127 are only in the predevelopment stage.
Banking&Finance
Net Zero and Associations
THE Philippine Council of Associations and Association Executives (PCAAE) recently held a live webinar titled “Empowering Associations to Lead the Way in Sustainability,” which was presented by the London-based Climate Action for Associations (CAFA), a not-for-profit organization and a global accelerator for the UN-backed Race to Zero campaign.
Net zero is the balance between the amount of greenhouse gases emitted into the atmosphere and the amount removed. Achieving net zero means reducing emissions as much as possible and offsetting any remaining emissions through carbon capture or other mitigation strategies.
For associations, net zero is not just an environmental obligation; it is a strategic imperative. As the collective voice of industries and sectors, associations have a critical role in leading their members toward a sustainable future. By integrating net zero commitments into their operations and advocacy efforts, associations can drive meaningful change, set industry standards, and help shape policy that aligns with global climate goals.
CAFA’s “Best Practice Framework” emphasizes both internal and external actions that associations must take to accelerate progress toward net zero. The internal best practices include:
1. Strategy: Associations must integrate Environmental, Social, and Governance (ESG) goals into their overall business strategy to ensure that net zero is a core organizational priority.
2. Policy alignment: Internally, associations should introduce policies that establish sustainability and net zero as guiding principles for decision-making and operations.
3. Measure: Organizations need to assess their own environmental impact by measuring and reporting their emissions, ensuring they lead by example.
4. Target: Setting interim and long-term net zero targets provides clear benchmarks for tracking progress and maintaining accountability.
5. Reduce: A concrete action plan to reduce emissions annually should be implemented, ensuring continuous improvement toward net zero goals.
6. Communicate/Disclose: Associations must be transparent about their internal sustainability position and plans, keeping staff, key
By VG Cabuag
stakeholders, suppliers, and members informed.
7. Train/Upskill: Investing in skills development is essential. Employees should receive training on sustainability practices, with net zero principles embedded in recruitment and onboarding processes.
Beyond internal practices, associations have a responsibility to support their members in the net zero transition. CAFA’s framework includes a roadmap for associations to drive industry-wide climate action.
1. Research: Understanding what members need, their progress, and the technologies required is the foundation for effective support.
2. Policy Development and Alignment: Associations play a key role in advocating for science-based climate policies and responsible policy engagement at national and international levels.
3. Capacity building: Providing ESG and net zero resources, along with facilitating best practice sharing, strengthens industry-wide knowledge and commitment.
4. Education and Training: Offering sector-specific net zero training, climate awareness programs, and skill development initiatives ensures members are equipped to implement sustainable practices.
5. Self-regulation: Establishing industry standards, accreditation, and certification processes ensures that progress is tracked, expectations are set, and benchmarking occurs within sectors.
6. Stakeholder engagement: Associations must foster disclosure, networking, and partnership-building while promoting public awareness and outreach on climate issues.
Associations are uniquely positioned to champion net zero commitments within their sectors.
By adopting CAFA’s Best Practice Framework, associations can lead by example, create systemic change, and ensure that businesses and industries align with global climate goals. Now is the time for associations to act decisively, integrating net zero into their core mission and empowering members to contribute to a sustainable future.
Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BusinessMirror. E-mail: bobby@ pcaae.org.
State health insurer wants subsidies restored in 2026
By Reine Juvierre S. Alberto @reine_alberto
THEPhilippine Health Insurance Corp. (PhilHealth) will appeal to the legislative and executive branches of government that subsidies for indirect members removed this year be restored next year as its top official says funds are still sufficient.
At an event last Thursday, PhilHealth President and CEO Edwin M. Mercado said the state health insurer will use PhilHealth’s retained earnings from the previous years as well as contributions from the direct members.
By Reine Juvierre S. Alberto and Claudeth Ciriaco-Mocon
THE Philippine Health Insurance Corp.
(PhilHealth) announced last Thursday that it will no longer impose a cap on the number of days that members and qualified dependents can avail benefits.
This was after PhilHealth President and CEO Edwin M. Mercado issued PhilHealth Circular 2025-0007, lifting the 45-day benefit limit rule in the claims payment policy.
“PhilHealth has deemed it necessary to revisit the 45-day benefit limit rule, a cost containment strategy of the Philippine Medical Care Commission (Medicare program),” the document read.
The policy applies to medical conditions and surgical procedures under the All Case Rates (ACR) and special packages that are subject to the 45-day benefit limit rule.
However, the policy will not cover hemodialy-
BANKING brands from the Philippines collectively grew their brand value by 49 percent year-on-year (Y-o-Y), reaching a total of $10.9 billion—the highest surge among banking brands across the Asia and Pacific (APAC) region, an independent study by Brand Finance Plc. showed.
According to the London, UKheadquartered brand valuation consultancy firm, over half of this increase is attributed to the top two brands: BDO Unibank Inc. (BDO) and Bank of the Philippine Islands (BPI).
“BDO (brand value up 48 percent to $3.7 billion) rose 23 positions to secure 94th place, making it to the top 100 among global banking brands for the first time. This surge was driven by its increase in customer loans while improved customer satisfaction was led by innovations such as sustained branch expansion, digital investments to improve prod-
Awas held on March 19. Mizuho Bank and Sumitomo Mitsui Banking Corp. were the mandated lead arrangers and bookrunners for the deal. The development comes as the company continues to diversify funding sources at competitive rates to support business growth. Ayala received competitive rates for the loan as the company recently earned an inaugural foreign currency long-term issuer rating of “A-” from JCR that enhances its access to the Japanese market for capital needs. The rating indicates a relatively high level of creditworthiness and suggests that Ayala has a strong capacity to meet its financial commitments.
LL departments, state universities and colleges and state-run corporations can now purchase goods and services using an electronic Government Purchase Card (e-GPC), according to the Department of Budget and Management (DBM).
Budget Secretary Amenah F. Pangandaman issued Budget Circular 2025-1, providing the framework for the adoption of the e-GPC as a fast, convenient and
“According to the [Universal Health Care] law, we cannot withhold care. Any Filipino that needs [care], that goes to a hospital, we should provide them access,” Mercado said during the launch of the Health Economics and Fi -
sis benefits and other benefits that are not subject to the 45-day benefit limit rule.
“We want Filipinos with severe illnesses, chronic conditions, or those requiring prolonged hospitalization to continue receiving healthcare services without worrying about falling into debt,” Mercado was quoted in a statement as saying.
Further, the circular stated that the availment of services must have a proper indication that is appropriate, necessary and aligned with the patient’s treatment plan, adhering to widelyaccepted standards of care, DOH-approved Clinical Practice Guidelines (CPGs) and/or PhilHealth Circulars on quality standards.
PhilHealth will also closely monitor patient admissions/readmissions, utilization of benefits and services of patients that exceed 45 days. Compliance of health facilities to clinical standards and reimbursement rules shall also be monitored closely through the Health Care Providers Performance Assessment System (HCPPAS).
uct accessibility, and core business growth. Additionally, BDO recorded a Brand Strength Index (BSI) score of 91.5/100 and a AAA+ brand strength rating,” read a statement issued by Brand Finance last Thursday.
It added that BPI (brand value up 53 percent to $2.3 billion) surged 26 places to rank 128th among the world’s 500 most valuable banks.
“This strong performance was fuelled by higher loan-related revenue and asset growth. With a slight increase in its BSI score to 83.7/100, the brand has maintained its AAA- brand strength rating.”
According to Brand Finance Asia Pacific Managing Director Alex Haigh, the Philippines’s banking sector is “experiencing extraordinary brand value growth, outpacing all other APAC markets.”
“BDO’s ascent into the global top 100 and BPI’s significant rise highlight the sector’s resilience and strategic
fied items within monthly limits and merchants or merchant category groups agreed upon by the agency with the servicing bank.
The e-GPC may be used for travel expenses, such as airfare, car rental, ferry/cruise and toil fees, as well as computer software, services and digital content. The card could also be used for hotel/ lodging, representation expenses, purchase of fuel, lubricants, oils, automotive parts and services and miscellaneous small-value purchases.
The e-GPC has a designated program code or privilege type for each authorized cardholder, according to the DBM.
As such, head of agencies and their senior officials are categorized under “Privilege Type A” and shall include all eligible expenditure types. “Privilege Type B,” on the other hand, is granted to officials whose functions involve travel or con-
nance program of the Philippine Institute for Development Studies (PIDS).
Indirect contributors are the indigent, senior citizens, persons with disabilities, beneficiaries of the Pantawid Pamilyang Pilipino Program (4Ps) and those who cannot afford direct payments.
A PIDS paper in 2023 noted that PhilHealth “collects premiums much like a special earmarked tax from segments of the population with the capacity to pay (e.g., formally employed, professionals), while the national government subsidizes the premiums of those without the capacity to pay.” Mercado said PhilHealth will be requesting budgetary support from the government for its operations next year.
“We’re hoping that our subsidy in
Health facilities are also enjoined to implement comprehensive organization-wide policies focused on quality and performance improvement.
“Aligned with existing laws, PhilHealth is continuously instituting new ways of engaging and paying providers in a manner that drives efficiency, while preserving both access and quality outcomes,” the circular read.
Health Secretary Teodoro J. Herbosa, who chairs the PhilHealth board, said that the move is part of the instructions of Pres. Ferdinand R. Marcos Jr.
“Sa ating UHC Act, may tinatawag na ‘individual-based services’ na siyang binabayaran ng PhilHealth. Yan ang dahilan kung bakit seryoso at nakatutok si [Marcos] sa PhilHealth. Sa ilalim ng kanyang administrasyon ay tunay na pinapalawak ang benepisyong pangkalusugan ng bawat Pilipino,” Herbosa said. [In our UHC Act, there are so-called ‘individual-based services’ that are paid for by PhilHealth. That
focus on customer engagement and financial inclusion,” Haigh added. Meanwhile, other notable banking brands from Philippines in the “Banking 500 2025” are: Metrobank (brand value up 14 percent to $1.4 billion); Land Bank of the Philippines (new entrant brand value at $1.3 billion); UnionBank (brand value up 9 percent to $743 million); Philippine National Bank (brand value up 43 percent to $409 million); Security Bank (brand value up 18 percent to $405 million); Chinabank (brand value down 16 percent to $293 million); RCBC (brand value down 9 percent to $241 million); and, EastWest Bank (brand value down 1 percent to $196 million).
According to Brand Finance, the total brand value of the world’s 500 most valuable banking brands has surged by 13 percent Y-o-Y to reach $1.6 trillion, marking the first double-digit increase in four years. This follows two years of sluggish 2 per-
duct of official business outside office premises, including foreign travels. Meanwhile, officials or employees whose roles consist of or involve the purchase and/or use of small-value items and common-use supplies, IT-related expenses, and motor vehicle services are categorized as “Privilege Type C.” Further, “Privilege Type D” may be granted to officials and employees involved in motor vehicle services, such as drivers or personnel under the agency’s motorpool unit. Those under “A” have a monthly purchase limit of up to
the form of premiums for our indirect members will be restored because I think we’re showing that the absorptive capacity of field health is improving,” Mercado added. The PhilHealth board already discussed the various mechanisms to project how much the agency will spend for indirect members’ benefit payouts, Mercado said. PhilHealth will be rolling out new programs and Z Benefit packages this year and encourage more healthcare facilities to engage, he added. This year, PhilHealth has P373.504 billion in funding, which will cover benefit payments despite its zero subsidy this year. Based on its corporate operating budget, benefit expenses will cost P271.388 billion while administrative expenses will amount to P12.484 billion.
is why [Marcos] is serious and focused on PhilHealth. Under his administration, the health benefits of every Filipino are truly being expanded.] The 45-day benefit limit, Mercado said, is an outdated cost-containment strategy. “Naiintindihan natin kung bakit ito inilagay noon, ngunit, sa pagbabago ng ating payment mechanism, napapanahon na rin talagang repormahin ito. We cannot always predict or schedule our medical needs. Marami ring mga serbisyo ang kinakailangan ng higit sa 45 days na coverage. Kaya naman nagpapasalamat tayo sa PhilHealth Board for approving this policy update,” he added. [While we understand why the policy was put in place, with changes in our payment mechanism, it is time to reform it. We cannot always predict or schedule our medical needs. Many services also require more than 45 days of coverage. That is why we thank the PhilHealth Board for approving this policy update.]
cent brand value growth and reflects the banking sector’s ability to sustain momentum despite market volatility. “Chinese banking brands continue to dominate the ranking, with ICBC (Industrial and Commercial Bank of China) retaining its position as the most valuable banking brand in the world for the ninth consecutive year, growing 10 percent to $79.1 billion.” UK neobank Revolut is the fastestgrowing banking brand globally, with a 795 percent increase in brand value to $1.9 billion, driven by strong revenue growth, customer expansion, and significant marketing investment, the consultancy firm added.
Indonesia’s BCA retains its title as the world’s strongest banking brand, with a BSI score of 97.1/100 and an elite AAA+ rating. The ranking reinforces the growing strength of local and regional banks, with many in Asia and Africa excelling in customer trust and digital innovation.
can only be used to purchase pre-identi-
Bayanihan for Biyaya
OT many people may know that I had once worked at the Department of Agriculture (DA) in the late 1980s to early 1990s, and I can say on hindsight that it was one of the best jobs I’ve had in my long career.
In the course of my work there, I was able to travel across the Philippines and meet our country’s most valuable resource, our farmers. They work the land, process their produce, and hope to sell these at the best prices possible. Their only goal in life: to earn enough money to send their children to college, thereafter get better jobs so that the family can escape their poverty.
And they toil, no matter the weather, and without thought to whoever is in power in their local government or in the national administration. It’s all the same to them; they need to work, from morning to late afternoon, everyday, because no one will ever help them.
I’ve also gotten to know traditional weavers in Aklan and in Lake Sebu in South Cotabato. Their common concern is that none in the younger generation want to learn and take over the arduous task of putting thread to needle, and shuttling it in the loom in quick succession to make colorful patterns and beautiful fabric, some of which represent their tribe’s hopes and dreams.
So even before the Filipiniana attire came into fashion, my friends and I were already wearing indigenous fabrics, heritage clothing, and native brass jewelry as far back as the 1990s.
It is with these thoughts in mind that I attended last weekend the Biyaya Sustainable Living Festival 2025 at Parqal Mall in Parañaque. From March 14 to 16, the festival celebrated our culture, creativity, and craftsmanship.
At its heart, the Biyaya Sustainable Living Festival is about the communities—farmers, artisans, and designers—whose dedication ensures that Filipino
culture not only survives but also thrives. By nurturing these communities and promoting their heritage crafts and practices, the festival underscored the profound connection between cultural conservation and environmental protection.
By highlighting the inspiring stories of these cultivators, the festival hopes to bridge the gap between producers and consumers. It serves as a vital platform that can spark conversations about the intersection of coffee, craft, clothing, culture, community, and the environment.
When we protect, nurture, and grow the heritage craft and practices of Filipino communities, we ensure their sustainable livelihood,” says Richard Watanabe, founder of the Coffee Heritage Project and co-founder of the Biyaya Sustainable Living Festival.
“In the process, these communities can continue to live on the land of their ancestors, safeguarding not just their culture but also the environment. Thriving, sustainable communities are the foundation for environment protection.”
By emphasizing community support, Biyaya promotes a holistic approach to sustainability where preserving tradition ensures both people and the planet can flourish.
The Biyaya Festival is more than just a marketplace for coffee sellers; it is a launching pad for a larger initiative where communities embody heritage as progress. Its role is crucial in sustaining the livelihoods of farmers and artisans by fostering a deep appreciation for local products and the stories that accompany them. By attending the festival, the public becomes part of a broader narrative that champions cultural heritage, sustainable living, and community empowerment. They learn about the importance of ethical consumption while providing farmers and artisans with the attention and support they deserve.
The impact of the festival extends beyond the event itself; Biyaya supports a long-term value chain that ensures Filipino farmers and artisans are empowered at every stage. With transparency checks in place, Biyaya guarantees that the processes behind the products are ethical, fair, and environmentally conscious. This ensures that every purchase contributes directly to sustainable livelihoods while holding the value chain accountable for its social and environmental impact. It strengthens an ecosystem where cultural practices can thrive, and where the contributions of local artisans and farmers are valued, ensuring that their legacies are preserved for future
generations.
In essence, the Biyaya Festival is a celebration of resilience, creativity, and community. By participating, visitors such as myself didn’t just enjoy the festival, but we had committed to support and elevate the very heart of Filipino culture.
Before Biyaya, organizers held the successful Manila Coffee Festival, which welcomed over 12,000 visitors and generated P45 million in earnings for its exhibitors—highlighting the significant economic impact of supporting local communities.
“As we worked closely with farming communities, we saw firsthand that coffee is just one part of their livelihood. Since coffee farmers only harvest at certain times of the year, they rely on other trades—cacao farming, coconut production, weaving, basketry, and even pottery—to sustain them yearround,” explains Watanabe.
“So, Biyaya isn’t just about coffee; it’s about uplifting the entire ecosystem of heritage industries that allow these communities to thrive,” he adds.
Last week, there were more than 200 exhibitors, including coffee, cacao, and coconut farmers, as well as craftsmen, weavers, and local fashion designers. I literally lost my way in trying to get back to the kiosks that offered unique products like ceramic coffee mugs with whimsical designs, and skirts with colorful weaves. (Thank goodness I managed to get a list of purveyors, a few of who I shall be privately messaging in the next few days.)
It was quite confusing to wade through the many coffee sellers selling beans from Northern to Southern Philippines, but I eventually settled on one who offered premium beans at, well, a premium price. But having come from my DA background, and knowing the difficulty farmers encounter in marketing their produce, it frustrates me a bit how each corner of the country can produce really good beans that sadly never make it to our major retail spaces like supermarkets.
Thank goodness for Biyaya organizers for bringing our coffee farmers and sellers together in one space, for their product to be appreciated by a greater number of people.
I am told the Biyaya Festival will be an annual event. But even before that happens, let me enjoin our readers to keep patronizing our local farmers, weavers, artisans, and small businesses in trade fairs that feature them. Every purchase we make from them supports not just one person or his family but an entire community. It is bayanihan at its best. ■
Eugenia Last
20): Emotions will surface, causing you to question your relationships, pastimes and hangout places. The time to switch things up to suit your needs is now. Define what makes you happy and how to improve your daily routine, health and stress levels. ★★★
CANCER (June 21-July 22): When one door closes, another opens. Look for the door that leads to peace and happiness. Take control of your destiny and concentrate on what interests you most. Be reflective and share your thoughts with loved ones and those you can count on to offer insight and alternatives. ★★★
LEO (July 23-Aug. 22): Put your power where it brings the highest returns. Speak up, show interest and follow through with vim and vigor. Your showmanship will put you in a position that warrants attention and offers the clout you require to enforce your ideas and put your plans in motion. ★★★★★
VIRGO (Aug. 23-Sept. 22): Put your energy into initiating change and finding out what’s required to incorporate your skills into something you want to pursue. Take a chance and discover what’s possible. Mulling over whether to do something is a far cry from following through. ★★
LIBRA (Sept. 23-Oct. 22): Be careful what you wish for. Rethink your pursuits and manage your relationships with care. Not everyone you know is looking out for your best interests. Look for legitimacy in every proposal, and be sure to get what you want in writing. ★★★★
SCORPIO (Oct. 23-Nov. 21): Take a moment to consider your plans. Don’t take a risk that can harm your reputation or emotional or physical well-being. Opt out of attending crowded events or traveling to places that pose uncertainty. ★★★
SAGITTARIUS (Nov. 22-Dec. 21): Stick close to home and loved ones. Tally up your overhead costs, and you’ll discover a way to cut corners. A work-related alternative will help bring in extra cash. Refuse to let your emotions supersede common sense. Being wellinformed is in your best interest. ★★★
CAPRICORN (Dec. 22-Jan. 19): Pick up the pace, speak your peace and adjust your lifestyle to fulfill your heart’s desire. Take responsibility for your happiness by picking and choosing what’s right and best for you and following through. Refuse to let someone dictate to you or push you in a direction that doesn’t suit your needs. ★★★
AQUARIUS (Jan. 20-Feb. 18): Set boundaries, standards and rules to live by. Harness your strong points and use
BEGINNING March 20, veteran journalist and awardwinning documentarist Howie Severino delves deep into the nation’s past and present through a blend of narrative storytelling and insightful interviews via the limited series podcast Howie Severino Presents Developed by GMA Integrated News Digital Strategy and Innovation Lab (DigiLab), Howie Severino Presents is a rebrand from GMA Integrated News’ first original and award-winning podcast, The Howie Severino Podcast, launched in 2021. Fresh episodes drop every Thursday on Spotify, Apple Podcasts, and all GMA Integrated News’ streaming platforms.
For its first season, Howie Severino Presents: Moments in Election History features several highlights from Philippine election history. Howie centers the discussions on the 1897 Tejeros Convention, the history of women’s right to vote, and the youthful 1952 campaign of Ramon Magsaysay, in particular his hit campaign jingle “Mambo Magsaysay.”
“We want to enrich the news coverage of the election campaign by providing context, digging deep into the past to show how our elections have evolved. In a series of episodes, we will be featuring several highlights from Philippine election history,” shares Severino.
“As we prepare for the upcoming 2025 midterm elections, we at GMA Integrated News would like to open the eyes of the Filipinos on the realities of the present by unearthing the country’s rich history and culture,” says senior vice president and head of GMA Integrated News, Regional TV, and Synergy Oliver Victor B. Amoroso.
“Through Howie Severino Presents, we hope to continue our commitment to delivering trusted, comprehensive, and in-depth journalism in innovative ways across all platforms.”
More information can be found at www. gmanetwork. com.
PPO EMBARKS ON HISTORIC NINE-CITY UK TOUR IN MAY 2025
THE Philippine Philharmonic Orchestra (PPO), the premier orchestra of the Cultural Center of the Philippines (CCP), is set to make history with a nine-city tour across the UK this May. Under the baton of internationally acclaimed Maestro Grzegorz Nowak, the PPO will showcase its worldclass talent in some of the UK’s most renowned concert halls.
The PPO will be joined by esteemed soloists, including cellist Wen-Sinn Yang, violinist Diomedes Saraza Jr. who also performs as PPO’s concertmaster and artist in residence, pianist Mark Bebbington, and composer Jeffrey Ching. Audiences can expect breathtaking performances of classical masterpieces, such as Mendelssohn’s “Symphony No. 4 ‘Italian’,” Tchaikovsky’s “Swan Lake Suite”, Beethoven’s “Symphony No. 5,” and more.
“Performing internationally allows the PPO to showcase Filipino artistry on the global stage. This tour is also a way to connect with our fellow Filipinos in the UK and introduce our rich musical heritage to international audiences,” said CCP president Kaye C. Tinga.
The PPO’s grand finale at Perth Festival of the Arts in Scotland marks the culmination of a tour that not only highlights Filipino excellence in classical music but also strengthens cultural ties between the Philippines and the UK.
The highly anticipated tour is made possible by IMG Artists, a leading global talent management agency in the performing arts.
More information on the UK tour can be found at www.culturalcenter.gov.ph.
Show BusinessMirror
Mastering ‘Adolescence’
WHAT happens if one early morning, the police barge into your home because a 13-year-old boy living with you is accused of murder?
Jamie is that young boy and he is as devastated as we are as we follow his arrest and down to the resolution of the question: is he the killer? From the moment he is taken from his bedroom, the events unfold continuously as we view the process about juvenile crime in England. There is no time to prepare for anyone—from the parents and siblings to the boy involved. Jamie is hauled into the police wagon and is quickly introduced to an adult, the appropriate adult, that will accompany him as he is questioned by the police.
While Luke Bascombe and Misha Frank, who led the raid in Jamie’s home, may act paternal and understanding to the boy, there is no question that the two policemen meant business. They had done their homework and, slowly, in the interrogation, they soon uncover for us what they really know about the crime.
Originally a TV series, Adolescence shows us the justice system in this country. There is the solicitor, the attorney, whose job is to protect the boy from incriminating himself. Amazing, for example, is the instruction of the lawyer to Jamie to answer “no comment” when he is not sure of how to respond to a question. We see how murderously this strategy brings into a deadend the investigation every time the boy resorts to no-comment tack. We wonder to what end this sort of legalese can lead to. Young as the suspect is, Jamie is allowed to choose his own “appropriate adult” and, for this, he eventually opts to get his father, Eddie. It is a reassuring presence for the lithe and small Jamie to have his father beside him. And yet this proximity will altogether bring about a vulnerability to both of them: the father will be there immediately to receive the facts—and truth—of the crime. The “I did not do it” is an assurance for Eddie and he is holding on to this all throughout the preliminary investigation. The CCTV footage is first shown and gradually we begin to lose our confidence in the innocence of the little boy. Questions and more difficult questions are asked and, like Eddie, the father, we are also bothered by the kind of needling the police are allowed to do by law. Then Bascombe brings out the video....
The first episode is an unforgiving look into the psyche of police investigation. Laicized as we are, we are never prepared for what the police already know about the case. The second episode of this four-episode show takes us to a kind of intermezzo in the school that Jamie attends. Here in this episode, we enter the minds of the young and, through the
son of Bascombe, oriented to the mystery of social media. We learn the codes of emojis, and dive into the online subculture where bullying is even made more inscrutable by the notion of “incel” or the involuntary celibate—those who desire sexual relationships but are not afforded the chance. In this episode, we are treated to the tender and yet real generation gap between Bascombe and his son.
We are not prepared for the third episode and the second becomes rightfully an intermission. In the third, Jamie continues his session with a child psychologist. What questions can we ask a boy who is a murder suspect? More than the question, how far can we not destroy a young mind as we subject him to science?
Of all the episodes, the third is a tour-de-force. What begins as a near laidback presentation of a winsome child psychologist turns into a terrifying battle between a child and an adult, terminating in a harrowing realization of how we grown-ups will never understand our children. This puzzle is introduced in the long scenes at the schools and quietly grows into the scene at the youth psychiatric facility. As Briony, the child psychologist, Erin Doherty, initiates us into the scene with that chocolate drink with marshmallow and a sandwich to boot. Jamie engages her and the chat goes deep into the kind of sandwich he likes until the boy tells the woman he is merely tricking him into giving her “an understanding of his understanding.” Are we this manipulative?
Adolescence has been hailed by the press as a
masterclass in visual narrative. Done in single-take and shot continuously, the scenes are seared into our consciousness as the actors appear to walk us through the scenes in the lives of the characters. The actors as they play their characters have the raw immediacy that draws us to the screen. There is that anxiety that if we for a second look away, we would lose something—a word perhaps, a nuance.
As the lead investigator, Bascombe as played by Ashley Walters is like a big brother, avuncular with just the right amount of flamboyance that nearly eases into an action-star charisma. And yet he is real. He could not be any other because he plays off the father, Eddie, played by Stephen Graham, whose naturalistic and gritty performance is unforgettable. In the fourth episode, Graham as Eddie and Christine Temarco as Manda Miller are heartbreak and regrets personified as they ask themselves if they had been good parents to Jamie. From this scene, Graham goes into the room vacated by his son and there cries his heart out, offering a catharsis that we all deserve as participants in this tragedy.
Graham is also one of the writers of this series.
As the young suspect, Jamie, Owen Cooper hides in that frail and yet taut body of his a nervous energy that does not prepare us for its outburst.
Simply, he terrifies us. This apparently is not his last filmic excursion: he is slated to appear as the young Heathcliff in Emerald Fennells’ Wuthering Heights
Adolescence is written by Jack Thorne and Stephen Graham. Streaming on Netflix, it is directed by Philip Barantini. ■
‘Novocaine’ leads numbingly slow weekend at North American box office
FIVE new movies opened wide in North American theaters this weekend including a starry spy picture from Steven Soderbergh, an A24 thriller, a Looney Tunes movie and a high concept action-comedy with The Boys star Jack Quaid. But the myriad options did not result in box office gold. When final receipts are tallied on Monday, it’s likely going be the lowestgrossing weekend of the year to date with around $54 million in total ticket sales.
Novocaine led the pack with $8.7 million, according to studio estimates Sunday, which was slightly lower than expected. The film starring Quaid as a man who literally can’t feel pain was released by Paramount Pictures in 3,365 locations this weekend. The studio also had early access showings the weekend prior, which are included in the total.
The R-rated movie, directed by Dan Berk and Robert Olsen, got generally positive reviews with an 82 percent on Rotten Tomatoes. Exit polls were a bit more tempered with 4/5 on PostTrak and a “B” CinemaScore. It also made $1.8 million from 19 international territories bringing its total weekend to $10.5 million.
The Bong Joon Ho and Robert Pattinson scifi Mickey 17 and the spy pic Black Bag were neck and neck for second and third place, both reporting $7.5 million weekends. Mickey 17 had the slight edge. It’s still playing in 3,807 theaters, was down a steep 60 percent from its opening. That brings its domestic total to $33.3 million and its global total to $90.5 million against a reported $118 million budget. Black Bag, the well-reviewed Soderbergh film with Cate Blanchett and Michael Fassbender, opened in 2,705 theaters to take third place. Audiences skewed male (56 percent) and over 35 (59 percent). The film, released by Focus Features, currently carries a 97 percent on Rotten Tomatoes. It also got a “B” CinemaScore.
Other new openers included Up: A Looney Tunes Movie Porky Pig and Daffy Duck originally intended for the streaming service Max, and the faith based Supper Ketchup Entertainment handled the Looney Tunes theatrical release in 2,827 theaters where it earned $3.2 million. Pinnacle Peak Pictures released Supper in 1,575 theaters to $2.8 million in ticket sales. Both came in behind Disney and Marvel’s America: Brave New World its fifth weekend in theaters.
The new A24 movie, the top 10 with an estimated $1 million from 1,764 screens. Starring Ayo Edebiri and John Malkovich as a legendary pop star who has suddenly reemerged on the scene after decades away, the Sundance Film Festival to generally poor reviews. It’s the first film from writer-director Mark Anthony Green.
After a strong start to the year in which the box
office was up 22 percent, several slow weekends that haven’t surpassed $60 million in total ticket sales have left the domestic box office at a 5 percent deficit.
“It’s a momentum business,” said Paul Dergarabedian, the senior media analyst for Comscore. “It’ll ratchet up with Snow White next weekend. And the good news is we probably won’t see the 50s again until August.” AP
BPI employees spend over 12,000 hours helping local communities
AT the Bank of the Philippine Islands (BPI), empowering communities is not just a mission; it’s a way of life. Through its social development arm, BPI Foundation (BPIF), the bank transforms the spirit of bayanihan into action with the “BPI Bayan Program,” an employee volunteerism initiative driving meaningful change. Guided by the principle of “Kasama Lahat sa Pag-Unlad,” the program enables employees to make a lasting impact on underserved communities.
As part of this initiative, employee volunteers formed “Bayan Groups” and spearheaded community projects focused on financial wellness, livelihood opportunities, and social upliftment. These activities allow volunteers to engage deeply with communities while honing essential skills such as leadership and collaboration, all while fostering a greater sense of purpose.
“At BPI Foundation, we believe that empowering communities starts from within. Through the ‘BPI Bayan Program,’ our employees go beyond their roles as bankers, they become changemakers, dedicating their time and skills to uplift lives. By fostering a culture of volunteerism, we create meaningful and lasting impact, ensuring that no one is left behind on the
path to progress,” said Carmina Marquez, BPIF Executive Director.
In 2024, more than 5,000 BPI employees dedicated over 12,000 volunteer hours to various initiatives across the Philippines, benefitting more than 18,000 individuals in communities across Metro Manila, Rizal, Bataan, Isabela, Laguna, Cavite, Batangas, Quezon Province, Palawan, Capiz, Iloilo, Cebu, Negros Occidental, Negros Oriental, Zamboanga, Cagayan, Davao, and General Santos.
From conducting financial education workshops to organizing livelihood programs and providing essential resources, these volunteers brought BPI’s mission of financial inclusion to life, making a tangible impact on underserved communities.
Looking Ahead BPI continues to champion volunteerism as a vital pillar of its commitment to nation-building. Through the BPI Bayan Program, the bank strives to extend its impact, ensuring that more underserved communities benefit from initiatives that promote financial literacy, sustainability, and resilience.
By working hand in hand with communities, BPI employees embody the true spirit of bayanihan—a collective effort that drives meaningful change. Together, they are not only strengthening BPI but also building a more inclusive and empowered Philippines.
For more stories on BPI Bayan and how you can support its initiatives, visit https:// www.bpifoundation.org/
Timberland Mountain Bike Park: A Year of Finding Flow and Sharing the Stoke
Timberland Highlands Resort’s Director of Operations and Executive Chef Ranuka Hettiarachchi.
Tnew trails: Parabellum (a fast and flowy downhill trail through the forested areas) and Skyline (a scenic trail offering breathtaking views of Metro Manila). Short Circuit (a
CONNECTIFY MNL proudly marks its first anniversary, reflecting on a year of meaningful partnerships between brands and influencers, navigating digital trends, and strengthening engagement with Filipino audiences.
In only one year, this young and talented group has already worked with local and multinational brands across various industries, including beauty, fashion, tech, airline and transportation, telecommunications, FMCG, pharmaceuticals, and restaurants, as well as tourism offices of Asian countries. As the influencer marketing landscape continues to evolve, the Connectify MNL team shares insights on emerging trends shaping the industry in the Philippines.
Emotional Appeal Drives Consumer Behavior
“I BELIEVe consumers support brands and influencers that align with their values. Whether focusing on sustainability, diversity, or mental health advocacy, audiences gravitate toward content creators who use their platforms to inspire positive change. Emotional appeal help brands through influencers connect on a deeper and longer level.” – Jim Zamora, Founder & Managing Director Familiar and Culturally Relevant Content “I NOTICE that Filipino audience engages more with content that feels familiar and culturally relevant.
Global delegates hail NHMFC-hosted Mortgage Market Global Summit
GLOBAL key figures in the mortgage industry including European Mortgage Federation-European Covered Bond Council (EMF-ECBC) Secretary General Luca Bertalot hailed the remarkable success of the recently held first-ever Mortgage Market Global Summit (MMGS) 2025 hosted by the National Home Mortgage Finance Corporation (NHMFC).
The summit, which took place in partnership with the EMF-ECBC, the International Secondary Mortgage Market Association (ISMMA), and the Development Bank of Singapore (DBS), provided insights, facilitated networking, and bolstered the development of capital markets in the Asia-Pacific region, especially in the Philippines.
Bertalot lauded the event, stating that “It was probably one of the best events I have attended in my career,” highlighting the impressive organization and seamless execution that significantly impacted the global mortgage market.
Bertalot was among the array of distinguished speakers at the summit, joining ISMMA Chairman and Tanzania Mortgage Refinance Company CEO Oscar Mgaya, Japan Housing Finance Agency Director General Yuji Date, Cagamas - National Mortgage Corporation of Malaysia President Kameel Abdul Halim, European Federation of Building Societies Managing Director Christian König, Covered Bond Consultant Richard Kemmish, FMO-Dutch Development Bank Senior Investment Officer Maurits Fliehe Boeschoten, S&P Global Ratings Head of Asia Pacific Structured Finance Emily Chiu, DBS Bank Head of Structured Debt Solutions and Executive Director Kwok Pin Lim, Bangko Sentral ng Pilipinas Monetary Board Member Rosalia
Boado. Their discussions centered on the mortgage finance, sustainable housing, covered bond issuances and
challenges,
In
quick trail that gives riders another option to get to Launch Pad from the Skills Zone). More trails are planned as part of the Park’s commitment to continuous improvement.
The Dirt School at TMBP: This new program offers riders of all levels expert instruction from industry-certified coaches, helping them improve their skills and confidence. The Dirt School also offers guided rides for first-time TMBP visitors, ensuring a safe and fun experience.
Rider Reward System: TMBP rewards riders for their passion with the Stoken System. Riders earn points simply by riding at TMBP, collecting wrist tags along the way (5 wrist tags = 1 Stoken). These Stokens can be redeemed for exclusive offers, merchandise, free rides, and even coffee. The more you ride, the more you earn!
Events and Challenges: TMBP will be hosting an exciting lineup of events and challenges throughout the year, such as the KOMquest climbing challenge, brand activations, and community rides. Stay tuned for upcoming ride dates and updates. Learn more about TMBP, and start finding your flow at www.timberlandmountainbikepark. com. Share your stoke on social media: @ timberlandmountainbikepark (Facebook) and @ ridetimberlandph (Instagram).
GOTYME Bank, a collaboration between multicountry digital banking group Tyme and the Gokongwei Group, has emerged as a gamechanger in the Philippine banking industry for its groundbreaking innovations with its business model, products and services.
The bank has integrated sustainability into its core business model. It puts into practice good governance, including risk management, risk governance, compliance management, cybersecurity and fraud management, and consumer protection practices. While value creation has yet to be fully embedded in its strategy, GoTyme Bank is actively working toward making sustainability as shared value a central pillar of its operations.
Turning the misconception that creating shared value (CSV) prioritizes social good over financial gain on its head, the bank understands that profit is essential, but it shouldn't come at the expense of the customer or the environment.
Studies have shown that corporate social responsibility (CSR), while positive, can be a cost center and doesn’t always directly impact the business. CSV, on the other hand, focuses on integrating social and environmental concerns into the core business model.
As a digital-first bank, GoTyme Bank is making a significant contribution to environmental protection. By encouraging customers to adopt digital banking services, the bank is reducing carbon emissions associated with traditional banking activities, such as physical branch visits and paper-based transactions.
Moreover, the bank's cloud-based infrastructure and focus on digitalization have led to a substantial reduction in energy consumption compared to traditional brick-andmortar banks. This not only benefits the environment but also helps to lower operational costs.
Beyond commitment to environmental sustainability, GoTyme prioritizes the needs of its customers and employees. By providing convenient, accessible, and secure digital banking services, the bank helps individuals and businesses power on toward their financial goals.
Ultimately, GoTyme Bank's CSV initiatives result in tangible benefits for the bank, such as innovation, competitive advantage, increased revenue and profitability.
The bank recognizes that true sustainability hinges on understanding and meeting customer needs. This means rethinking its business to offer not just technologically advanced products and services, but beautiful, user-friendly solutions that address affordability and accessibility.
for setting a high standard in organizing and executing such an impactful global event. The resounding success of bringing together global leaders, experts and policy makers of the mortgage industry, banks and financial institutions around the world paved another way for future collaborations and innovative strategies to enhance the mortgage market all over the world. EUROPEAN
GoTyme Bank redefines sustainability through CX-centric innovation
“GoTyme is a unique digital bank offering a premium banking experience to all Filipinos. We combine digital convenience with personalized human support. Unlike traditional banks, we focus on making technology accessible and trustworthy for everyone,” says GoTyme Bank president and CEO Nate Clarke. Albert Tinio, GoTyme Bank co-CEO, adds, “We aim to help all Filipinos achieve their financial goals. We use technology to make our products and services accessible to everyone, and we've simplified our processes so that anyone can use them. Our kiosks and friendly staff have helped us grow quickly, even attracting customers who might be uncomfortable with fully digital banking.” GoTyme partnered with PayMongo Philippines Inc. to revolutionize financial access for micro, small, and mediumsized enterprises (MSMEs). This collaboration introduced Capital, a cutting-edge business loan designed exclusively for PayMongo merchants, which offers a hassle-free, threestep digital application process that can be completed in minutes. Once approved, funds are disbursed within a single business day, providing MSMEs with the rapid financial support they need to scale their operations. Besides simplifying the loan application process, GoTyme Bank, by leveraging PayMongo's data, can assess creditworthiness efficiently and offer tailored financing solutions. Meanwhile, Capital’s
BPI volunteers in Dumaguete boost marine biodiversity and support fisherfolk by deploying reef domes through the “Panag-ambit” project.
IN the photo are, from left, San Mateo, Rizal’s Municipal Administrator Jose Enrique Desiderio; Switchbacks Inc’s Head of Marketing Agu Paiso; Filinvest Hospitality Corporation’s First SVP Francis Gotianun;
www.businessmirror.com.ph • Editor: Tet Andolong
Motoring
PHRX AND PNRC RECOGNIZE 2024 SEASON WINNERS
Story by Randy S. Peregrino
THE Philippine Rallycross Series (PHRX) and the Philippine National Rally Championship (PNRC) celebrated the top rally drivers of the 2024 season in a recently concluded awarding ceremony held at Oriental Palace in Tomas Morato, Quezon City. The event honored the top finishers in each category, recognizing their skill, endurance, and dedication to one of the country’s most challenging motorsport disciplines.
As the only rally events sanctioned by the Automobile Association of the Philippines (AAP), the PHRX and PNRC remain the premier rally competitions in the Philippines, aiming not only to recognize top drivers but also to expand the sport by attracting new participants to the world of rally racing.
2024 season: A year of thrilling rally action
THE 2024 PHRX season took place over seven rounds, featuring races at Parklinks in Pasig City, the CCP Complex in Pasay City, and the Arden Botanical Garden in Trece Martires, Cavite. The CCP and Arden rounds were fulldirt rallycross events, while Pasig featured a combination of tarmac and dirt, creating a diverse and unpredictable competition format. Each twokilometer rally course tested the drivers’ adaptability and skill, with both day and night races adding to the challenge. Meanwhile, the PNRC championship consisted of three rounds, each pushing competitors to their limits in grueling rally conditions. The “Kagitingan Rally” in Capas, Tarlac, featured 12 Special Stages over 49 kilometers of gravel and dirt tracks. The “Unang Sigaw Rally” followed with 55 kilometers of intense
terrain, split into eight Special Stages. The season concluded with the “Rally Nueva Ecija 2 –Tribute to Jun Espino”, where drivers tackled 10 Special Stages covering 50 kilometers of challenging dirt and gravel roads.
The 2024 season winners across multiple categories
Group 1 Overall Champion: 1st Caloy Calica 2nd Ricxie Dela Cruz 3rd Rolando Tecson
Group 2 Overall Champion: 1st Louie Camacho 2nd Paul Santos 3rd Peewee Mendiola
Group 3 Overall Champion: 1st Louie Camacho 2nd Paul Santos 3rd Ricardo Dy-Liacco
Group 4 Overall Champion: 1st Paul Santos 2nd Ricardo Dy-Liacco 3rd Peewee Mendiola
Open Class Overall Champion: 1st Mike Reyes 2nd Paolo Santos 3rd Ricardo Dy-Liacco
AWD Class Overall Champion: 1st Mike Reyes 2nd Paolo Santos 3rd R alph Ramento
UV Class Overall Champion: 1st Louie Camacho 2nd DJ De Guzman 3rd Aven Tongo
RWD Class Overall Champion: 1st EZ Ligaya 2nd Devor Andres 3rd Jun Magno
AS the PHRX and PNRC continue to grow, the 2025 season is set to be even bigger, with seven rounds of the rallycross series and four rounds of the national rally championship. For the national rally championships, two rounds will be held in Nueva Ecija, one in Cavite, and a historic first inter-island rally in Lubang, Occidental Mindoro— marking a significant expansion in the Philippine rally scene. Meanwhile, the rallycross series will build upon last year’s success by holding seven
rounds, ensuring more thrilling competition and testing drivers across longer and more complex rally stages. According to race directors Olson Camacho and Ronnie Trinidad, these expansions aim to bring rally racing to more regions in the country, grow its fanbase, and provide new and seasoned drivers with more opportunities to compete.
Upcoming training programs
TO attract more participants to the sport, the PHRX organizers will offer driver training programs focusing on rally driving fundamentals, car control, pace notes, and navigation techniques. This
initiative aims to develop new talent in a safe and structured environment, ensuring that more drivers can experience the excitement of rallying with proper guidance.
The organizers also thank the AAP for its full support, ensuring that all rally events meet international safety and competition standards. Their continued involvement reassures new and experienced competitors that they are racing in a well-regulated and professionally managed championship.
Reviving the glory days of Philippine rallying NOW in its 10th year, the
PHRX and PNRC continue their mission to revive rally racing in the Philippines, a sport that flourished in the 1970s and 1980s.
“Unlike circuit racing, where drivers compete on smooth, controlled tracks, rally driving takes place on gravel, mud, dirt, and tarmac, making it one of the most dynamic and unpredictable motorsports,” said Camacho. He emphasized that the combination of speed, technical driving, and teamwork between the driver and co-driver makes rally racing an actual test of skill and endurance.
The Future of Philippine Rallying
With the expansion of race venues, more competitive rounds, and structured driver training programs, the PHRX and PNRC are confident that rally racing in the Philippines will continue to grow. With AAP support, strong sponsor backing, and an engaged media presence, the Philippine rally scene is poised for a resurgence, ensuring that the next generation of drivers can experience the thrill of rally racing in a safe and competitive environment.
As the PHRX and PNRC continue their mission, rally enthusiasts and drivers alike can expect more action, challenges, and a bigger stage for Philippine rally racing in 2025 and beyond.
New races at TOYOTA GAZOO Racing up; NAIA parking
OYOTA never ceases to innovate.
TAlready an institution in local motorsports, the TOYOTA GAZOO Racing Philippine Cup gets another monumental facelift when its 11th season roars off on March 22 at the Clark International Speedway in Mabalacat, Pampanga.
To be flagged off to add to the excitement of fans is the Legacy Class, whom Toyota EVP (executive vice president) Jing Atienza describes as a new race that will feature former Vios Cup racers and owners of the third generation Vios.
In an innovation worthy of praise, the original racers from the inaugural 2014 edition and beyond will be competing in their own class as the established legends get the opportunity to race against each other again as former Vios Cup champions/veterans the past 10 years or so. This singular race will surely be more than nostalgia even as a flood of memories will absolutely envelope the racing circuit, what with the dyedin-the-wool racers themselves seeing action again.
The new season has also been repositioned to have an earlier schedule. After the March 22 race, the second run is set in May and the third and final race weekend in August.
As usual, races are classified as the Novice Class, Sporting Class and Super Sporting Class in the Sprint and Endurance divisions in the three weekend events. To spice up the competitions, bigger
prizes are at stake this year in all three races where President Masando Hashimoto of Toyota Motor Philippines (TMP) is seeing action again in the Novice Class.
Another new race will feature the Car clubs of Toyota’s performance cars—the GR Yaris, GR Supra and GR 86. They will now race it out in a 5-lap encounter to delight the fans.
On display for the fans’ delectation at the site are the New GR Yaris, GR Supra, the GR 86, and various car club’s collectibles.
“Fans can also check out the official GR merchandise store for shirts, caps, umbrellas, tumblers and other race items,” said Allana Faith Rufo of Mixie Flavier’s PR Team. “There will be game booths, including the TGR GT Cup experience, where e-racing fans can put their skills to the test. Fans can also get their hands on freebies and prizes at the sponsors’ booths, and watch drifting and gymkhana
exhibitions by professional drivers.”
“Filipino alternative rock band Hale will provide entertainment during the celebration night,” said Andy Ty, the TMP assistant vice president for marketing, who was instrumental in introducing both the Legacy Class and Club Race events.
Admission is free all the way in the races sponsored by Petron and GT Radial and supported by Toyota Financial Services Philippines, myTOYOTA Wallet, Denso, AVT, 3M, ROTA, Tuason Racing, OMP and Kinto One.
Automated NAIA parking HERE is another gem from the SMC Media Affairs Group:
“New NAIA Infra Corp. [NNIC] has introduced an automated parking system at Ninoy Aquino International Airport [NAIA] to provide a faster, more convenient experience for passengers and visitors.
“The system went live as of March 14 at Terminals 1, 2 and 3.
“To further enhance efficiency, real-time parking slot displays will be installed at Terminal 3 by April and at Terminals 1 and 2 by May this year. This will allow drivers to check available spaces before entering.
“The system supports multiple payment options, including GCash, PayMaya, debit and credit cards for greater convenience.
“With the new system, drivers enter through unmanned entrances, receive an automated ticket, and exit using a QR code-based system. This will significantly reduce waiting times and improve overall traffic flow.
THE organizers and winners of the PHRX and PNRC 2024 season. PHRX
(FROM left) PHRX and PNRC race director Ronnie Trinidad, AAP Head of Motorsports Rikki Dy-Liacco, and PHRX and PNRC race director Olson Camacho. PHRX
Belen on pace for third MVP crown Sports
Dasmariñas
set for crucial bout against Okamoto
ICHAEL “HOT & SPICY”
MDASMARIÑAS tries to make his way back to a world crown in a March 29 non-title featherweight bout against Japan’s Kyosuke Okamoto at the Aichi Sky Expo in Aichi.
“I ’m just waiting for the right opportunity to get a title shot with my new team,” Dasmariñas, 32, told BusinessMirror on Wednesday after a workout at the Elite Boxing Muay Thai Gym in BGC.
“My priority is to win convincingly [against Okamoto] to improve my rankings,” added Dasmariñas, who despite winning his last six fights is No. 21 in the World Boxing Council and unranked in other sanctioning bodies.
The former International Boxing Organization bantamweight champion is now under the wings of international matchmaker Sean Gibbons and trainer Ting “Sugar” Ariosa.
“M y Japanese opponent is also a good fighter so I must train and prepare seriously,” said Dasmariñas, who owns a 36-3-2 win-loss-draw record with 25 knockouts.
“Michael knows that he really needs to do good and prove to everyone that he’s a real deal,” said Gibbons, president of boxing icon Manny Pacquiao’s MP Promotions. “He knows that the fight in Japan will boost his rankings in all of the world boxing bodies.”
D asmariñas is rebooting his career after losing via a third-round knockout to undisputed super bantamweight champion Naoya Inoue of Japan on June 19, 2021, at the Virgin Hotels in Las Vegas.
He’s been waiting four years to get another crack at a world title and if he beats Okamoto, a title eliminator will be up next in his mission.
A riosa believes Dasmariñas has improved a lot after tinkering with his fighting style.
“He’s very coachable and patient.
He’s learning a lot and I believe we will see a different Michael Dasmariñas on March 29 in Japan,” Ariosa said. Okamoto, 21, is sporting a 9-1-1 record with six knockouts. Josef Ramos
BELLA BELEN is on track for another top individual award as leads the statistical points (SP) race after the opening round of the University Athletic Association of the Philippines Season 87 women’s volleyball tournament. Most Valuable Player in UAAP Season 84 (2022) and Season 86 (2024), the National University (NU) star is on pace for another title after amassing 159.600 SPs. The 5-foot-8 opposite spiker, now in her senior year, ranked seventh in the league with 107 points. She also placed eighth in spiking efficiency at 33.47 percent, first in aces with 0.63 per set, sixth in digs at 2.60 per set, and fifth in receiving with a 33.58 percent efficiency rate. L a Salle’s Shevana Laput is second in
WILDCARD Alex Eala came up with a stunning openinground performance in the Miami Open, defeating Katie Volynets of the US, 6-3, 7-6 (3), on Wednesday at the Hard Rock Stadium.
R anked 140th in the Women’s Tennis Association, Eala, who turns 20 next month, took control early but needed to dig deep in the second set against the 73rd-ranked Volynets to complete the win in an hour and 51 minutes.
The Filipina, who also entered the Miami Open as a wildcard in 2022 and 2023 but could not advance, faces a giant task in the Round of 64 against 2017 French Open champion Jelena Ostapenko, who the world No. 25 from Latvia who was among 32 seeds who earned first-round byes.
Twice Wimbledon champion Petra Kvitova, among the eight wildcards, was shown the exit door by Sofia Kenin of the US, 6-4, 7-5.
Aryna Sabalenka of Belarus is the women’s top seed, with Iga Swiatek of Poland second.
Americans occupy the next three slots—Coco Gauff, Jessica Pegula and Madison Keys.
Jasmine Paolini of Italy is the sixth seed followed by Elena Rybakina of Kazakhstan, Emma Navarro of the US and China’s Zheng Qingwen, with Paula Badosa of Spain seeded 10th.
In men’s play Nick Kyrgios won a match for the first time in nearly 2 1/2 years on Wednesday at the Miami Open, beating Mackie McDonald 3-6, 6-3, 6-4 while wearing a thick wrap of beige tape on his surgically repaired right wrist that he said was numb after he took five painkillers.
“I’m not going to lie: I was pretty close to crying on court. I just think about the last two years, and it’s been pretty brutal, to be honest,” said Kyrgios, the runner-up to Novak Djokovic at Wimbledon in 2022. “I was in a cast for 12 weeks. Couldn’t move my wrist. And the surgeons were saying I’d never play again. So I was listening
to a lot of the outside noise—whether I’d be able to play at this level and win. Playing’s one thing, but winning matches and executing is another thing.”
The Australian, who turns 30 next month, hadn’t come out on the right end of an official contest since October 2022, when he defeated Kamil Majchrzak at a tournament in Tokyo and then withdrew before what would have been a matchup against Taylor Fritz in the quarterfinals.
Since then, Kyrgios needed operations for a torn ligament in his wrist and on his knee, sidelining him for nearly all of 2023—when he competed once in singles—and all of the 2024 season.
Kyrgios, one of the named plaintiffs in the class-action lawsuit filed Tuesday by players against groups that run tennis, began this year with an 0-3 record until Wednesday.
The lack of competition has dropped him from a career high of No. 13 all the way down to No. 892 in the ATP rankings; he was able to enter the Miami field thanks to a protected ranking. He was a semifinalist in this hard-court tournament in 2016 and 2017.
Batican extends lead to 10 strokes in Jr World qualifying
dra Luciano, who struggled with an 81, both totaling 160.
A lly Gaccion battled through an 80 but remained in contention in third place with a score of 163. Anya Cedo and Lia Duque staged impressive comebacks with rounds of 78 and 77, positioning themselves at 164 and 166, respectively.
the SP rankings with 157.692 SPs, followed by Adamson’s Shaina Nitura (145.556), Season 85 MVP Angel Canino of La Salle (141.538), and NU’s Vange Alinsug (130.000). Rounding out the top 10 are NU’s Alyssa Solomon (126.000), Poyos (120.345), UST’s Regina Jurado (113.103), NU’s Shaira Jardio (106.400), and Camilla Lamina (101.600).
Belen also leads the race for Best Outside Spiker with 303 positional points (PPs), followed by Canino (267), Nitura (252), Alinsug (240), and UST’s Angge Poyos (217). In the Best Middle Blocker race, La Salle’s Lilay Del Castillo leads with 181 PPs, closely followed by Ateneo’s AC Miner with 171. Completing the top five are UE’s Riza Nogales (160), La Salle’s Amie Provido (158), and Ateneo’s Yvana Sulit (139).
L aput leads the Best Opposite Spiker rankings with 274 PPs, with Solomon (214) and Jurado (185) rounding out the top three.
FEU’s Tin Ubaldo leads the Best Setter race with 192 PPs, followed by Season 84 Best Setter Lamina (173) and UST’s Season 86 Best Setter Cassie Carballo (164).
Jardio leads the Best Libero standings with 205 PPs. Adamson’s Juris Manuel (197) and UST’s twotime Best Libero Detdet Pepito (189) complete the top three.
Ateneo’s Kennedy Batas, a third-year spiker out of Santiago, Isabela,
Doula Ndongala (141), and Ateneo’s Brian Castro (137). UST’s Dux Yambao leads the Best Setter category with 196 PPs, followed by Ateneo’s Enzo Gutierrez (175), La
THIRTY-FOUR referees— including eight international referees—are undergoing a fiveday refresher course as they reboot for the country’s hosting of the FIVB Volleyball Men’s World Championship Philippines 2025 in September.
FIVB rules chief Paredes reboots PHL volleyball referees for worlds
Argentina’s Guillermo Paredes, president of FIVB’s Rules and Refereeing Commission, is the Course Director and Primary Resource Speaker of the course— organized by the Philippine National Volleyball Federation (PNVF)—which ends Sunday at the Ninoy Aquino Stadium.
“ We want to assure that proper officiating will be imposed during the matches with 32 of the world’s best teams competing in two venues,” said PNVF president Ramon “Tats” Suzara, who also immersed himself in the course. “This is the world championship that’s why we have to make it the best.”
“ We would like to express our gratitude to the FIVB for having Guillermo Paredes as our instructor,” Suzara said. “He is providing our referees advanced knowledge on how to officiate the matches properly.” The country is hosting the FIVB MWCH in two venues—Smart Araneta Coliseum and SM Mall of Asia Arena— from September 12 to 28. The course, Suzara said, emphasizes on the Rules of the Game, Modern Volleyball Use of Technology, FIVB Video Challenge Regulations, FOP/Court Inspection and Set-up, FIVB Match Protocols and Practical Refereeing Applications with demonstration teams—seven matches— and Match Referees’ Evaluation. Suzara, also the FIVB Executive Vice President and president of the Asian Volleyball Confederation, opened the course with PNVF secretary-general Donaldo Caringal, chairman Dr. Arnel Hajan and Referee and Rules of the Game chairman Yul Castillo Benosa.
By Josef T. Ramos
TNT coach Chot Reyes braces for a tough match with Ginebra even as the Gin Kings import situation remains uncertain ahead of Game Four of the Philippine Basketball Association Commissioner’s Cup Finals on Friday at the Ynares Sports Center in Antipolo. The Tropang Giga lead the series 2-1, while the Gin Kings face a dilemma with Justin Brownlee injured.
We are going to see the best of Ginebra even without Brownlee, so we have to be at our best. I reminded them how strong and deep that team is,” Reyes said. “Without Justin, somebody else is going to step up.” Brownlee suffered a dislocated right thumb in the third quarter of Game
Three at the Philsports Arena in Pasig City won by the Tropang Giga, 87-85. He still finished with 19 points, four rebounds and six assists in 28 minutes of action.
It is uncertain whether Bronwlee, a naturalized Filipino and resident Ginebra import, will play through the injury or Ginebra sees action without an import. Another option is Ginebra bringing in a new foreign reinforcement. The sure thing is Ginebra needs Jamie Malonzo, Stephen Holt, RJ Abarrientos, Troy Rosario and Japeth Aguilar to play their A-game to get back on track.
B rownlee is averaging 27.3 points, 10.0 rebounds and 4.0 assists in the title series. Rey Nambatac, who posted 24 points, five rebounds and seven assists, was TNT’s hero in Game Three, hitting the go-ahead triple with 30 seconds to
MICHAEL DASMARIÑAS holds a 36-3-2 win-lossdraw record with 25 knockouts.
PHILIPPINE National Volleyball Federation president Ramon “Tats” Suzara (left) introduces president Guillermo Paredes to the course participants.
Stronghold Insurance’s 65th Year: Bigger, Better, and Future-Ready
Since it was founded in 1960, SICI has grown into one of the country’s most trusted providers of various non-life insurance products, including motor, fire, casualty, marine, and bonds coverage.
By John Eiron R. Francisco
STRONGHOLD Insurance
Company, Inc. (SICI), a wholly Filipino-owned non-life insurance firm, marks its 65th anniversary this year with ambitious plans to become the country’s leading non-life insurance provider by 2030.
“ With a strong foundation and a forward-thinking approach, Stronghold Insurance continues to be a premier choice for Filipinos seeking reliable and comprehensive protection,” said Mr. Romulo I. Delos Reyes, Jr., the president and general manager of SICI.
Delos Reyes emphasized that the company’s 65-year journey has been marked by trust, reliability, and financial strength—qualities that have made it a dependable partner in the industry. He added, “Our commitment to financial stability, customer-focused service, and innovative solutions sets us apart."
Founded on March 21, 1960, as Mabuhay Insurance & Guaranty Co., Inc., the company initially op -
erated as a local non-life insurance firm. In December 1980, David C. Mercado, the company’s chairman emeritus, along with new shareholders, acquired the company and rebranded it as Stronghold Insurance Company, Inc., a name formally approved by the Securities and Exchange Commission (SEC) on June 22, 1981.
SICI has since grown into one of the country’s most trusted providers of various non-life insurance products, including motor, fire, casualty, marine, and bonds coverage.
We understand that each client has unique needs but operates within the same financial and risk ecosystem. Our approach is to customize solutions while maintaining
a workable balance between per
sonalization and proven practices—ensuring tailored protection without unnecessary complexity,” Delos Reyes said.
To extend its reach, the company has built a nationwide network of over 150 offices, including business centers, regional offices, branches, business development offices, and unit offices.
Th is extensive presence, Delos Reyes said, enables SICI to provide accessible and efficient services to clients across the country.
Our transformation isn’t just about becoming bigger—it’s about becoming better equipped to protect our clients, support our communities, and create opportunities for our people for decades to come,” she explained.
To uphold its service excellence, SICI regularly invests in employee training and development. The company sends its rank-and-file employees, supervisors, and middle managers to specialized courses offered by the Insurance Institute for Asia and the Pacific (IIAP) to enhance their technical expertise.
Meanwhile, its officers participate in industry conferences and symposiums both locally and internationally, fostering managerial skills and expanding their industry network.
SICI also prioritizes employee well-being, organizing annual sports activities to promote physi-
Stronghold Insurance Co.,
MESSAGE FROM THE MAYOR OF MAKATI CITY "Your
MESSAGE FROM THE HEAD OF THE INSURANCE COMMISSION
"Your dedication to exceptional service and providing tailored protection has built trust among your stakeholders and set a benchmark in the insurance industry."
T
65th Anniversary. The theme of this milestone-"65 Years Guaranteed Protection: A Tradition of Service and Care"-truly reflects your unwavering commitment to safeguarding the future of countless individuals and businesses. F or six and a half decades, Stronghold lnsurance has exemplified integrity, reliability, and compassion. Your dedication to exceptional service and providing tailored protection has built trust among your stakeholders and set a benchmark in the insurance industry.
A s you celebrate this significant milestone, encourage you to continue upholding the traditions that have defined Stronghold. May you continue to pursue excellence with unwavering resolve, ensuring that your legacy of service and care endures for generations to come.
C ongratulations to Stronghold lnsurance on this significant milestone.
MESSAGE FROM THE CHAIRMAN OF QUICKWAY HOLDINGS, INC.
The vision of my father, Dave C Mercado, has left a legacy that inspires all of us, in spite of the challenges brought on by recent natural catastrophes, competition, hardening reinsurance market and financial regulatory requirements.
ON behalf Quickway Holdings, Inc., I would like to congratulate Stronghold Insurance Company, Inc. on this landmark occasion.
It has been another year of growth, expansion and achievements under the leadership of Mr Romulo de los Reyes. Everyone from the provincial branch staff to the upper management has played a major role to the success of Stronghold, with the guidance of the Board of Directors. The vision of my father, Dave C Mercado, has left a legacy that inspires all of us, in spite of the challenges brought on by
recent natural catastrophes, competition, hardening reinsurance market and financial regulatory requirements. This company has shown resiliency and commitment to excellence shown by the dedication of everyone involved.
Stronghold Insurance continues to achieve its mission and vision by not only the achievements in its service to its clients but also in reaching out to affected communities in times of acts of nature such as typhoon and floods. C ongratulations on the 65th Anniversary and I look forward to your continued success!
MESSAGE FROM THE CHAIRMAN
"As we look ahead, we have set a bold vision for the future: By 2030, we envision being the leading non-life insurance provider in the country. This is a big dream and a tall order, but if we look back at the past six decades, we see how far we’ve come."
THIS year, Stronghold Insurance Company, Inc. proudly marks 65 years in the industry. While we may be younger than some of our competitors, we are certainly not lacking in experience. Over the years, we have built a solid reputation as a key player in the nonlife insurance sector, earning the trust and respect of both our clients and competitors. From humble beginnings, Stronghold has steadily grown into a major force in the industry, offering a comprehensive range of insurance solutions to meet the everevolving needs of our market. What sets us apart is not just our growth but our strength and reliability. As of the end of 2024, our net worth exceeded P3.6 billion—far surpassing the statutory requirement for 2025. But financial stability alone is not enough. Our true strength
lies in our commitment to service. At Stronghold, we take pride in providing prompt, customer-centric, and highly satisfactory service. Our frontliners embody our core values—social responsibility, integrity, commitment, competence, compassion, and innovation. These values define who we are and guide how we serve. As we look ahead, we have set a bold vision for the future: By 2030, we envision being the leading non-life insurance provider in the country. This is a big dream and a tall order, but if we look back at the past six decades, we see how far we’ve come. What once seemed impossible is now a reality. And with the same determination and excellence that brought us here, we will continue to provide top-tier protection, deliver value to our stakeholders, and redefine what it means to be a leader in the industry.
Thank you all for being part of this journey. Together, we will build an even stronger Stronghold. God bless us all.
HON. MAYOR MAR-LEN ABIGAIL S. BINAY Mayor of Makati
MR. DAVID P. MERCADO, JR. Quickway Holdings, Inc. Chairman
ATTY. EMMANUEL F. DOOC Chairman
Co., Inc. 65th Anniversary
Stronghold Insurance Company, Inc. President and GM named Outstanding Leader in Asia
ANGKOK , Thailand—Romulo I.
BDelos Reyes Jr., was recognized and honored as one of the 2024 “Outstanding Leaders in Asia” by the Asia Corporate Excellence and Sustainability (ACES) Awards. This prestigious trophy was bestowed upon him during the Gala Dinner and Awards Ceremony held at the InterContinental Hotel last November 15, 2024. He was then formally introduced by the event host to be an exceptional leader who “emphasizes employee development with high retention rate and effectively stirring the Company through his leadership”.
T he ACES Awards has grown to become one of the most sought-after accolades in Asia that recognizes Asia’s Top Leadership and Sustainability Players since 2014 as organized by the MORS Group. It honors individuals and juridical entities demonstrating exceptional leadership, innovation, impact and corporate sustainability practices and excellence within jurisdiction of the respective industry and beyond.
D elos Reyes, a Filipino insurance man, is one of the Asia’s finest leaders in sustainability and excellence. He has emerged victorious, along with thirteen (13) Individuals who were thoughtfully chosen out of 250 finalists from a total record of 682 nominations, for his visionary leadership, strategic acumen, and unwavering commitment to excellence in the non-life insurance industry of the country. Verily, he is a Stronghold in the Industry.
Leadership Grounded on Perseverance and Adaptability
Delos Reyes began his career in 1979 as a working student and collector. Through perseverance and hard work, he advanced through the ranks – from fire inspector, underwriting supervisor, underwriting manager, and beyond.
H e shared that, “My progression continued as I was promoted to vice president for operations, then vice president and general manager, followed by executive vice president and general manager. I am now honored to serve as Stronghold’s president and general manager”.
“ Each role I undertook, whether it was leading a small team or the entire company, have navigated and been able to lead through evolving challenges, opportunities and milestone”, he added. In a ddition, the ACES Council noted during the selection process: "Mr. Delos Reyes exemplifies the dedication, resilience, and visionary leadership that are the hallmarks of exceptional leadership in the region. His 45-year journey with Stronghold Insurance, from a working student to President and General Manager, is a testament to his unwavering commitment to excellence and growth."
People’s welfare: The heart of SICI operations
“Having once been an employee myself before becoming a leader, I draw on my personal experiences to foster a workplace where everyone feels valued and
empowered”, Mr. Delos Reyes shared.
In a n interview after receiving his award, it is noteworthy that he began by saying, “Talent Management is very important” to the question of “as a longstanding leader at Stronghold Insurance, how have you maintained such high employee retention rates and what is your vision for talent development moving forward?”. Here, he emphasizes giving utmost importance to an effective talent management consistent with the Company’s remarkable employee retention percentage result. By providing ample opportunities for career growth and advancement such as but not limited to regular training programs, business-related seminars/courses/ workshops, and the like. Moving forward, his vision for talent development is to nurture, support, and develop Individual personal career growth and advancement gearing towards fulfillment of the Organization’s shared Goal.
F inally, this ACES Award reflects entirety of the Company’s Core Values (Social responsibility, Integrity, Commitment, Customer-Centricity, Competence, Compassion, and Innovation or SICI). Looking ahead, Mr. Delos Reyes will continue to exemplify these values in building a strong work culture among all levels within the organization towards fulfillment of its established Mission and Vision, strengthening market presence, promoting sustainable growth initiatives, and fostering a culture of excellence and innovation to navigate future challenges and opportunities as their leader.
Stronghold Insurance Company, Inc.President and GM Romulo I. Delos Reyes, Jr.
