BusinessMirror September 16, 2026

DOE expects volatile oil prices to continue By Lenie Lectura

T IMPEACHMENT WATCH | SALN RECORDS TAKE CENTER STAGE Attorney Karen

Batu, officer-in-charge of the Records Division of the Office of the Ombudsman, takes her oath as a witness before the Senate Impeachment Court during the impeachment trial of Vice President Sara Duterte at the Senate of the Philippines in Pasay City on September 15, 2026. Batu testified on Duterte’s Statements of Assets, Liabilities and Net Worth (SALNs) as the court began hearing Article II of the impeachment case, which alleges unexplained wealth and failures to fully and truthfully disclose assets and financial interests. ROY DOMINGO-SPPA POOL

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HE country will continue to experience volatile fuel prices as the conflict in the Middle East intensifies. Energy Secretary Sharon Garin said Tuesday that the global oil crisis will not end anytime soon. “Why is this happening? The Middle East crisis is pushing crude oil prices upward on global markets not just here in the Philippines. Even other countries that subsidize their oil are considering reducing or cutting back on those subsidies. “Because the problem has dragged on, their subsidy funds are running low. So, it is not only the Philippines experiencing this, but many countries around the world. Oil prices go up, Filipinos feel it immediately; this is the harsh reality we are

facing,” she said. The DOE’s earlier assessment was that this scenario would be short-lived. Seven months into the conflict, Garin shared the agency’s latest assessment. “Based on what is happening in the Middle East....It doesn’t look like it will end anytime soon. The conflict there has escalated. So, prices are rising again. Our forecast is that this situation will persist for a long time,” Garin warned. Her office has already formally certified that the one-month average price of Dubai crude oil has reached the $80-per-barrel threshold required under the law for the government to consider suspending or reducing excise taxes on petroleum products. The certification comes as another increase in fuel prices this week, with gasoline increasing by P5.68 per liter, diesel by P4.31 per liter,

and kerosene by P4.62 per liter amid sustained increases in international oil prices. From August 13 to September 11, 2026, the average benchmark price of Dubai crude oil stood at $99.41 per barrel, exceeding the $80-per-barrel threshold prescribed under the law. With the certification formally transmitted by the DOE, the matter may now proceed for consideration by the Development Budget Coordination Committee (DBCC). Under RA 12316, the President, upon the recommendation of the DBCC and in coordination with the Secretary of Energy, may suspend or reduce the excise tax on fuel when the average Dubai crude oil price based on the Mean of Platts Singapore reaches or exceeds $80 per barrel for one month immediately preceding the issuance of the suspension or

reduction order. The law allows the suspension or reduction to cover specific petroleum products, either through full suspension or partial reduction, for a period not exceeding three months. “So right now, first stage is we certify. They will inform the economic managers, and this time it’s DBCC. That’s another step.It doesn’t mean that the excise adjustment is automatic. It means that this is the time that we’ll evaluate. Do we intervene? Do we remove? What intervention will we do as far as excise tax is concerned? So that’s the next step. So if your question is regarding, is there going to be a reduction, which products, that’s the next step. And that’s beyond the DOE, that’s with the DBCC. So let’s just wait for DBCC,” Garin said. See “DOE,” A2

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‘PHL MUST BRACE FOR SLOWING REMITTANCES’ www.businessmirror.com.ph

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Wednesday, September 16, 2026 Vol. 21 No. 337

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

By Andrea E. San Juan

HE Philippine economy should brace for a period of continued slowdown in cash remittance flows, or the money sent home by Overseas Filipino Workers (OFWs) after its year-todate value grew at the slowest pace in six years as Filipino workers abroad are being stretched too thin by war-tied inflation and other economic challenges.

An analyst pointed this out after data from the Bangko Sentral ng Pilipinas (BSP) showed that Filipinos working abroad sent home $20.39 billion to their families in the January to July 2026 period, up 2.3 percent compared to the $19.93 billion in the sevenmonth period in 2025. The 2.3-percent cumulative growth rate, however, was the slowest pace recorded since the 2.4-percent contraction in the January to July 2020 period or in six years in terms of the January to July period comparison. Jeremaiah M. Opiniano, Institute for Migration and Development Issues (IMDI) Executive Director and professor at the University of Santo Tomas (UST), told the BusinessMirror on Tuesday: “The 2.3 cumulative growth rate as of July reveals that the Philip-

pines may have to prepare for a period of continued slowdown of cash remittance inflows.” Despite the strengthening of the US dollar in recent months which should increase the amount of Philippine pesos the families receive, the pace of growth may be winding down because of the ongoing conflict in the Middle East.

Managing reliance on remittances

“AS our compatriots abroad still send money home amid the many challenges of eking a living and managing the economic impacts of the country- and regional-level situations [Middle East conflict, Strait of Hormuz issues affecting seafarers], the country may have to manage its reliance on overseas work for macroeconomic growth,” added Opiniano. See “Remittances,” A2

VIOLENCE SHADOWS HISTORIC BARMM VOTE A group attacks a vehicle from an opposing group outside a school used as a polling center during the Bangsamoro Autonomous Region in Muslim Mindanao parliamentary elections in Cotabato City, southern Philippines, Monday, September 14, 2026. The predominantly Muslim region held its first elections for a regional parliament following years of delays, a key step toward self-rule after decades of insurgency and violence. Officials said turnout exceeded 80 percent, even as five people were killed in election-related violence in the regional capital. More than 20,000 soldiers and police officers were deployed to secure the polls. Stories in A3 Nation and A5 News. AP PHOTO

Agencies can’t put aid programs under UPLIFT PHL PUSHES ASEAN TO ACT By Samuel P. Medenilla

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ALACAÑANG said government agencies which assist sectors affected by the Middle East crisis, must now request for funding separately from the Department of the Budget and Management (DBM) rather than have a dedicated budget under the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) program. “No additional funding will be allocated for UPLIFT at this time. It will depend on the actual requirements and requests from the concerned implementing agencies,” Palace Press Officer Claire Castro said in Filipino in a press briefing on Tuesday. She said the request will be screened by DBM. “The funds that can be provided depend on the needs of the imple-

PALACE Press Officer Claire Castro: “No additional funding will be allocated for UPLIFT at this time. It will depend on the actual requirements and requests from the concerned implementing agencies.”

menting agencies and will be subject to review; it must have complete documentation before any funds are released for the needs of our fellow citizens,” Castro said. A similar arrangement will be implemented next year since UPLIFT has no stand-alone budget

in the 2027 National Expenditure Program. The Presidential Communication Office undersecretary issued the statement as local oil firms are projected to hike pump prices this week due to the increased presence of the Iran-backed Houthis in the Bab el-Mandeb Strait, which are expected to further limit global petroleum product supplies. The Department of Energy estimated a liter of diesel prices will go up on Tuesday by P4.31, gasoline by P5.68 per liter, and kerosene by P4.62. Established through Executive Order No. 110 last March, the UPLIFT programs aims to ensure the protection of Filipinos in the Middle East, ensure sufficient supply of fuel, assist sectors in need, keep food prices affordable and ensure supply of electricity. The interventions include fuel and rice subsidy

as well as cash aids. DBM ordered government agencies in May to submit their unused budget so it can sustain the UPLIFT programs until the end of the year, which is estimated to cost the government P155 billion. It was able to collect P22.79 billion of savings of government agencies from the reduction of Maintenance and Other Operating Expenses (MOOE) and their savings. Of the savings, P12.37 billion were allocated for the expanded UPLIFT. In July, President Ferdinand Marcos announced the allocation of P12.38 billion for the expanded UPLIFT, which will benefit over 37 million Filipinos. The Asian Development Bank announced that the US$1.75-billion support facility it will extend to the Philippine government to augment its UPLIFT-related initiatives is still pending.

BEFORE DISASTERS HAPPEN By Mary Jade Jadormio

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HE Philippines is pushing the Association of Southeast Asian Nations (Asean) to move from disaster response to anticipatory action, with the country’s newly enacted law on imminent disasters among the practices it wants the region to consider, the National Disaster Risk Reduction and Management Council (NDRRMC) said. Office of Civil Defense Administrator and National Disaster Risk Reduction and Management Council Executive Director Harold Cabreras said the shift is a key focus of the two-day Asean Ministerial Conference on Disaster Resilience (AMCDR), which the Phil-

ippines is hosting as Asean chair. “We are shifting from mere response to prevention and mitigation, and we have to give more emphasis on a risk-informed approach on all our disaster resilience actions,” Cabreras told reporters on Tuesday. He said the Philippines is also sharing Republic Act 12287, or the State of Imminent Disaster Act, with other Asean member states as part of efforts to strengthen disaster-resilience frameworks. The law empowers local governments to undertake anticipatory action before disasters strike, allowing authorities to act on identified risks ahead of an actual disaster. See “Asean,” A2

PESO EXCHANGE RATES n US 62.8380 n JAPAN 0.4072 n UK 84.8690 n HK 8.0121 n CHINA 9.3669 n SINGAPORE 49.4671 n AUSTRALIA 44.8412 n EU 72.6093 n KOREA 0.0466 n SAUDI ARABIA 16.7318 Source: BSP (September 15, 2026)

News

BusinessMirror

A2 Wednesday, September 16, 2026

Asean…

Continued from A1

“We are sharing this law that I think they will also be looking at and studying it to consider on their framework of disaster resilience,” Cabreras said. The push comes as Asean seeks to accelerate programs under the Asean Agreement on Disaster Management and Emergency Response (AADMER), with the Philippines hosting the two-day ministerial conference as part of its 2026 chairmanship. The AMCDR brings together national disastermanagement officials from the 11 Asean member states and experts in disaster resilience. Discussions are focused on three areas: prevention and mitigation; preparedness, recovery and response; and global leadership. Cabreras said the Philippines is also moving toward a more predictive disaster-management approach, particularly through stronger early warning systems based on science and risk information. “We focus more on the prevention and mitigation, and so we need to invest more on preventing the risks and hazards that we are experiencing,” he said. Asean members are also expected to strengthen cooperation by sharing technology, expertise and resources before disasters occur, including through the regional warehouses established by the Asean Coordinating Centre for Humanitarian Assistance on Disaster Management in the Philippines, Thailand, Malaysia and Indonesia. Cabreras said stronger regional cooperation is crucial for the Philippines, which he identified as the world’s number one country in the World Risk Index and which continues to face multiple disaster risks. The conference is expected to produce a Manila Declaration to accelerate AADMER programs, with Cabreras emphasizing that resilience should protect not only lives but also livelihoods and the continuity of daily life.

www.businessmirror.com.ph

Ube’s growth may stall amid supply bottlenecks, says BMI S

By Ada Pelonia

LUGGISH expansion in cultivation and persistent supply bottlenecks could thwart purple yam’s (ube) growth trajectory, according to an international report. BMI, a unit of Fitch Solutions, made the pronouncement after the Philippine government, through the Department of Agriculture (DA), slapped an indefinite ban on shipments of fresh purple yam in its bid to safeguard planting materials amid limited domestic stockpile and booming global demand. “With their objective of building a more scalable domestic supply base before accelerating export growth at a later stage, the near-term focus will shift towards expanding cultivation capacity and improving the availability of planting materials within the

DOE…

Continued from A1

While international oil prices continue to put upward pressure on domestic pump prices, the DOE assured consumers that the country maintains adequate petroleum inventories.

Philippines,” BMI said. The research firm said the structural drivers serving as the foundation of purple yam’s popularity remain intact, including the demand for novel flavors, premium ingredients, and culturally authentic food experiences. While this showed the government’s bid to showcase purple yam as a strategic agricultural export opportunity, BMI stressed downside risks to the crop’s current upward trajectory. “Prolonged supply constraints, slower-than-expected expansion of domestic cultivation capacity or the emergence of substitute ingredients that capture consumer attention could limit ube’s ability to sustain its current growth trajectory and transition from a trending flavor into a permanently established global food category.” The research firm noted that among

the reasons the latest purple yam output lags behind demand was the fact that many local farmers adopt a “wait-and-see” approach. This makes the decision about what crops to plant during the season crucial. “While the export ban will preserve more growing material in the country, the current government announcement so far lacks any further financial incentives for farmers to switch to growing ube on their limited farmland, deterring any meaningful increase in domestic supply,” BMI said. “Additionally, the ban on exports may cause prices of the yam to fall, further deterring farmers from taking up the crop.” Despite this, BMI noted that the production concerns point to purple yam as a critical crop.

“The emergence of these supplyside challenges serves as further evidence that ube’s global rise is no longer merely an emerging consumer trend but an increasingly important agricultural and commercial opportunity that producers are now racing to support.” The Philippine government earmarked P300 million for 2027 to bankroll projects for the domestic ube industry. Furthermore, the DA has partnered with researchers to genetically map Philippine ube varieties for registration as part of efforts to protect native varieties from biopiracy. The move is expected to establish crop authenticity in export markets, and support the development of higher-yielding and more resilient varieties.

As of September 11, 2026, the country had an estimated 57.17 days of gasoline supply, 60.80 days of diesel, 124.57 days of kerosene, 60.56 days of jet fuel, 42.29 days of fuel oil, and 39.27 days of LPG. The DOE added that the targeted assistance for the public transport sector also continues. Also, about P718 million in fuel subsidies had been availed of by 102,356 public utility vehicle

(PUV) beneficiaries, with successful transactions recorded across 3,574 gasoline stations nationwide. The DOE will continue closely monitoring international oil prices, domestic pump

prices, and petroleum inventories while coordinating with the DOF and other concerned agencies on measures available under the law to help protect consumers from sustained increases in global fuel prices.

GDP…

low other regions to absorb more workers and reduce the country’s reliance on a few economic centers for employment creation. For his part, Peña-Reyes said the immediate priority should be to restore demand while accelerating investments that can generate jobs. He said the government needs to speed up infrastructure and public investment, address bottlenecks that hold back private investment, and support micro, small, and medium enterprises, and other labor-intensive sectors. “The goal should be faster, broader-based growth that translates directly into employment, rather than relying mainly on short-term employment support,” he added.

Continued from A9

Tiongco said the government needs to develop more employment centers outside Metro Manila and Luzon by strengthening infrastructure, power supply, transport connectivity, industrial facilities and skills development in other regions. “Calabarzon, Central Luzon, Cebu, Davao, Iloilo, Cagayan de Oro and emerging regional cities should become stronger nodes of manufacturing, logistics, agribusiness, digital services and professional employment,” she told this newspaper. Such a shift, she said, would al-

R.E. Capital…

The Philippine Just Transition Framework [JTF] ensures that decarbonization actively protects vulnerable sectors, informal workers and local communities,” Cuna added.

President Ferdinand Marcos Jr. has already approved the NDC, he added. Among his other calls, he urged the private sector and business leaders, to invest in clean technology and to “audit your carbon footprints.” “Actively participate in high-integrity, local carbon offset frameworks like our voluntary Carbon Offsets or V-CAT,” he told the Philippine Net Zero Conference 2026 organized here by the Net Zero Carbon Alliance and First Gen Renewables. He also asked government agencies and local governments to integrate climate expenditure tagging “into your local budgets, streamline permits for green infrastructure, and enforce our environmental policies with unyielding integrity.” To civil society and labor organizations, Cuna said, “we need your vigilance and partnership to operationalize our just transition framework, ensuring our workers and informal sector laborers and upskilled, protected and empowered through this evolution.” He said government has to take a strong position on the access of the required funding. “This distinction reflects the integrity of our national context and fiscal realities while sustaining our high ambition.” “A low-carbon transition cannot succeed if it is technically sound but socially disruptive,

The transmission problem

Continued from A9

MEANWHILE, private experts and resource persons during the conference said government and investors have to address drawbacks that were pulling back on projects on enhancing renewable and clean energy. Jerome Cainglet, president and chief operating office of the Lopez Group-owned Energy Development Corp. said transmission has been the consistent disruption among interested and would-be investors in energy projects, especially on renewable energy developments. “We have no transmission capacity for new projects,” Cainglet said, citing his company’s projects in the early operation stages. “In our Leyte geothermal projects, there was a sevengigawatt capacity that cannot be used immediately and had to be put into standby because of the lack of transmission facility to bring the capacity to the grid,” he said. He estimated the unused capacity to be enough to light up the homes of 7,000 households. “It’s not only the EDC but many other generation projects that have to be shelved or put aside for unuse because of the lack of transmission facility. This will raise issues like: will this mean that investors will have to invest additional capital just to build transmission facilities,” Cainglet said. Professor Raymond Tan of Dela Salle University’s College of Chemical Engineering, said the Philippines and Timor Leste remained as the countries in Southeast Asia that were yet to have a national policy or pledge to commit to a Net Zero Carbon commitment. “This absence of a national policy alone will leave the Philippines left behind to access the $6-trillion global climate fund and 16 million jobs in green jobs,” he said.

‘PHL must brace for slowing remittances’ Continued from A1

Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co. also pointed out that the latest data suggest “steady—not spectacular— growth,” further explaining that the weaker peso may only provide additional support, “but not fundamentally change the long-term trajectory of remittance inflows.” Opiniano also earlier explained to this newspaper that the contribution of remittances to the country’s gross domestic product (GDP) as of the second quarter of 2026 which is at 7.1 percent, is the “lowest since the BSP started tracking this metric.” “Thus, the national government may have to continue finding other revenue sources and not just let overseas Filipinos save the day,” he also told this newspaper.

Remittances must work for development

GIVEN the foreseen slowdown in remittances, Opiniano prodded local governments, communities, and financial institutions to roll out policies to make foreign remittances work for development. With the Department of Migrant Workers (DMW) now expanding its programs for economic reintegration of returnees, Opiniano said, “It is time to make remittances work to create more businesses, generate more jobs, and bolster migrant households’ savings and investment portfolios.” “We cannot rely on international migration and remittances forever,” he emphasized further.

July data: Highest value in 7 months

DATA from the central bank showed that in July 2026 alone, cash remittances amounted to $3.24 billion, up 1.9 percent compared to the $3.18 billion in July 2025. The $3.24 billion sent home by OFWs to their families in July was the highest amount they sent in seven months or since December 2025. However, Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation (RCBC), said the 1.9-percent year-on-year growth rate was still among the slowest in more than four years or since May 2022. Ricafort explained that remittances remained “relatively resilient even at low singledigit growth levels,” as “OFWs may need to send more to their families to better cope with higher prices or inflation and slower economic conditions.” This, he pointed out, despite the disruptions in travel in the Middle East which he said “could have also disrupted OFW deployment” and led to reduced business, employment and other economic activities in some Middle Eastern countries “as a matter of prudence/safety.” All of these factors, he said, “could have slowed down OFW employment and remittances.” On a month-on-month basis, the $3.24-billion remittance flows in July were 6.58 percent higher than the $3.04 billion sent home by overseas Filipino workers in June 2026 or in the previous month.

Still a ‘critical buffer’ for economy

DESPITE the steady growth, Ravelas said, “Remittances continue to demonstrate resilience and remain a critical buffer for the Philippine economy.” Ricafort said remittances growth could sustain the 2 to 3 percent growth levels in the coming months, “unless weighed by slower OFW remittances from the Middle East and also by more protectionist policies by the Trump Administration on immigration that could potentially reduce OFW remittances from the US.” THE central bank said the United States remained the top source of inflows, followed by Singapore and Saudi Arabia, based on reported remittance transactions by origin. According to the BSP, the growth in cash and personal remittances in the seven-month period this year provided “continued support to household consumption and domestic economic activity.” The central bank said the data underscores the “resilience” of remittance flows as an “importance source of external financing and household income.” Of the $20.39-billion cash remittances, BSP data showed that 80.2 percent came from landbased workers while the remaining 19.8 percent were sent home by sea-based Filipino workers. Cash remittances refer to cash sent by landbased and sea-based workers through the banking system. Personal remittances cover cash sent through banks and informal channels as well as remittances in kind. Personal remittances amounted to $3.6 billion in July 2026, up 2 percent compared to the $3.53 billion in July 2025.

www.businessmirror.com.ph

Wednesday, September 16, 2026

Roque’s asylum plea denied–Remulla By Jonathan L. Mayuga @jonlmayuga

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HE request for asylum of Harry Roque, spokesperson of the nowjailed former President Rodrigo Duterte, has been denied, Interior Secretary Juanito Victor Remulla said on Tuesday. In a news conference in Quezon City, Remulla said that, as far as he knows, Roque’s asylum request has lapsed after the five-month period had passed. “By the way, his asylum is done; Harry Roque’s asylum was denied. His five months are done. If there is a [International Police Organization] red notice, I will get him,” he said. A vocal critic of the Marcos administration, Roque has been in hiding outside the country but is active on social media, criticizing the government. Roque is facing multiple serious criminal charges primarily centered on his alleged connection to the illegal offshore gaming operations in the Philippines. The Regional Trial Court in Angeles City, Pampanga, has issued a warrant for his arrest for his alleged involvement in criminal activities related to his involvement with the outlawed Philippine Offshore Gaming Operations (Pogo). He was also previously issued a congressional contempt warrant by the House of Representatives Quad Committee, that investigated Pogo activities. Roque is facing a non-bailable qualified

human-trafficking charge together with businesswoman Cassandra Ong, and dozens of other co-accused. Roque is also facing a separate tax evasion case filed by the Bureau of Internal Revenue (BIR) along with wife Mila. He is also facing a pending land grabbing complaint lodged before the Office of the Ombudsman by 77 agrarian reform beneficiaries (ARBs) from Bataan. Because the qualified human-trafficking charge is non-bailable, Philippine law enforcement has deployed tracking teams and requested an Interpol Red Notice. Remulla did not say which country denied Roque’s asylum but earlier during the same press conference, the DILG chief said he will go to France for another case—that of former Party-list Rep. Rizaldy Co of Ako Bicol, who is facing plunder complaints in connection with the multi-billion-peso flood control scandal. During the briefing, Remulla did not specify which country denied Roque’s asylum bid but promised to provide details upon confirmation with his staff in charge of the case. He said his visit to France in the coming days has something to do with requests for asylum by Co, saying he will talk to authorities to convince them to deny the former legislator’s bid for asylum. To recall, in November last year, Roque bared that he applied for asylum in the Netherlands, but his request was deferred to Austria, since it was the latter that granted him a visa.

Ombudsman starts probe of father, son legislators

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URIGAO del Norte Rep. Francisco “Lalo” Matugas and his son, former Rep. Francisco “Bingo” Matugas II, are facing malversation and graft complaints before the Office of the Ombudsman. The two assured the public that they will fully cooperate with the proceedings and address the accusations through the proper legal process. The complaints have gained public attention following statements made during an Ombudsman news conference regarding the P80.61-million MahayhayTuburan Road project in Del Carmen, Surigao del Norte. The Ombudsman said the project was declared fully completed by the DPWH, with Boometrix, the contractor, receiving

full payment for the work. The two officials also said that they intend to cooperate fully with the proceedings and answer the allegations through the proper process. According to the Ombudsman, a site inspection conducted in April found that the project was only 65 percent to 70 percent complete, contrary to earlier claims of full completion. The Matugases said they will present the necessary documents and evidence to clarify the issues raised, emphasizing that the allegations should be evaluated based on complete records. They also maintained that claims involving an alleged financial interest connected See “Probe,” A4

Senator proposes use of natl ID for age verification in socmed

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HE National ID could become the mandatory first line of age verification for Filipinos opening social media accounts under proposed amendments to a measure protecting minors from online harm. Sen. Panfilo Lacson proposed that the Philippine Identification System (PhilSys) replace less definitive methods as the primary proof of a user’s age. “ I -simplify natin at gamitin natin ang National ID... Ang panukala ko, pagdating sa period of amendments, gawin nating must ang basis, gawin natin ang National ID o ano ang backup ID na puwedeng gamitin para documented [Let us simplify the process and use the National ID. During the period of amendments, I will propose that we use the National ID or a backup ID as a required and documented basis],” Lacson said. Senate Bill 2424, or the proposed Child Online Safety and Protection Act, currently contemplates several age-assurance methods, including users declaring their own age, third-party verification, and artificial intelligence-based age estimation. Lacson warned that giving platforms several discretionary options could create loopholes and complicate enforcement. “ Pag naglatag tayo ng discretion maglilikha tayo ng butas...upang paikutan ang pagpapatupad ng batas na ito [If we allow discretion, we will allow loopholes

that could be used to circumvent the implementation of this law],” he said. He proposed making the National ID the required baseline while leaving social media companies free to employ additional verification methods. Lacson noted that the Philippine Statistics Authority has reported National ID registration covering about 96 percent of the population. SB 2424 would prohibit children below 16 from registering on social media platforms, while those aged 16 to below 18 would be allowed access subject to age-assurance requirements and childsafety protocols. Lacson, however, floated another amendment that would maintain restrictions until age 18 and use the two senior high school (SHS) years to equip students with social media and digital literacy skills. “ Hindi ba mas [Would it not be more] coherent to maintain the restriction throughout the age of minority and use the two SHS years for structured social media and digital literacy education so they understand the risks of social media before gaining unrestricted access at 18?” he said. He also proposed giving the Department of Information and Communications Technology a stronger enforcement role, including quasi-judicial powers to determine liability and impose administrative penalties. Butch Fernandez with PNA

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SALNs show Sara’s ₧91.4-M increase in wealth 2007-2025 By Jovee Marie N. dela Cruz

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@joveemarie

ICE President Sara Z. Duterte’s declared net worth increased by P91.4 million from her first year in elective office in 2007 to 2025, based on the Statements of Assets, Liabilities and Net Worth (SALNs) presented before the Senate Impeachment Court on Tuesday. The House of Representatives prosecution panel presented the SALNs through testimony from lawyer Karen S. Batu, officer-incharge of the Office of the Ombudsman’s Central Records Division, as it examined Duterte’s financial disclosures covering her years in government service. Batu testified that Duterte declared a net worth of P7,250,497 in 2007, when she was beginning her career in elective office. By 2025, her declared net worth reached P98,656,131.20, ref lecting an increase of P91,405,634.20 over the period. Prosecution counsel James Bryan Ibrahim Alih highlighted the increase during his direct

examination of Batu, asking the witness to confirm the movement of Duterte’s declared wealth from her first SALN to her latest filing. “Based on your testimony, we started in 2007 at P7 million, P7,250,497. And through all the years of the Vice President, it has now increased to P98 million while she was in government. Is that correct based on your testimony?” Alih asked. Batu responded that the figures reflected the amounts declared in Duterte’s submitted SALNs on record with the Office of the Ombudsman. “Based on the SALNs I read, those are the amounts declared in the SALNs she submitted to the Office of the Ombudsman,”

Batu said. The records showed Duterte’s declared net worth fluctuating over the years before rising significantly after 2020. Her SALNs l isted P65, 308,8 41 in 2021, P71,658,841 in 2022, P77,508,841 in 2023, P88,512,370.22 in 2024, and P98,656,131.20 in 2025. The prosecution also examined Duterte’s cash declarations, particularly its claim that her SALNs from 2019 to 2025 contained no declaration of cash on hand or cash in bank. When asked about the 2019 filing, Batu told the impeachment court that no cash was declared. “There was no declared cash on hand or in the bank for that year,” she said. She later confirmed the same for 2021 through 2025. The testimony contrasted with earlier SALNs, where Duterte reported cash holdings during her years as Davao City vice mayor and mayor. Batu said Duterte declared cash amounts ranging from P2 million in 2007 to P6.37 million in 2017. The prosecution also questioned Duterte’s declared business interests, saying several SALNs listed businesses without corresponding shares of stock or acquisition costs. Batu testified that Duterte’s 2007 SALN listed three business interests and identified her as a

stockholder, but no stocks or acquisition costs were declared. “For the 2007 SALN, Vice President Sara did not declare any stocks or any acquisition costs,” Batu said. The same issue was raised for several succeeding SALNs. Batu said that based on records from 2010 to 2012 and 2016 to 2018, there were business interests listed but no declared shares of stock or acquisition costs. T he prosecut ion f ur t her pointed to Duterte’s business interests during her vice presidential term, citing companies listed in her later SALNs. Alih said the panel sought to establish that Duterte “did not divest and instead continued her business and financial interests.” The Senate Impeachment Court earlier allowed the examination of Duterte’s SALNs from 2007 to 2025, saying earlier records would be used to establish a baseline and not to add new charges for acts before her vice presidency. Presiding Senator-judge Francis Escudero said the review of previous SALNs was intended to determine the basis for comparison during Duterte’s term as Vice President. “We are not adding to the charges against the Vice President for supposed acts committed prior to her term as Vice President,” Escudero said.

Lacson: I must be doing something right By Butch Fernandez

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@butchfBM

MID claims by Sen. Alan Peter Cayetano that members of his minority bloc in the Senate were being threatened, Sen. Panfilo Lacson said that if his anti-corruption crusade is intimidating—or even rattling—the corrupt, then he must be doing something right and good for the country. On Monday, Cayetano claimed it was “obvious” who was behind the threats against members of the minority bloc. Cayetano cited as an example Lacson’s supposed pronouncement that the impeachment trial

of Vice President Sara Duterte should be finished by December. Lacson has made no such pronouncement. Lacson and his staff have formally submitted to the Office of the Ombudsman at least 45 case studies backed by official documents detailing “systemic anomalies” in flood control infrastructure projects. The Office of the Ombudsman is now conducting a fact-finding investigation into the allegations involving the projects in Taguig City. Aside from this, Lacson and his team sent to the Ombudsman several pieces of evidence they have gathered so far on the illegal

reclamation and infrastructure projects in Taguig City. Last Sunday, Lacson said that at the pace the Ombudsman’s investigation is going, he would not be surprised if it would file charges against those concerned before this year ends. Cayetano pointed to the investigations and cases being threatened against him and other opposition senators as talks resurfaced about lowering the votes needed to convict Duterte. “Senator Ping [Lacson], as an example, says dapat matapos ang impeachment [trial] by December [Lacson did not say that-editor]. Then by December, may kaso daw ako,” he said.

A two-thirds vote of “all members of the Senate,” or 16 out of 24, is needed to convict an impeachable officer. However, the Senate Impeachment Court is set to tackle the possible lowering of this Constitutional threshold, citing the inability of absent senators to vote. Sens. Jose Pimentel Ejercito alias Jinggoy Estrada and Rodante Marcoleta remain absent from the chamber due to detention in connection with separate non-bailable cases. Sen. Loren Legarda is also the subject of an Ombudsman probe involving a plunder complaint, while Sen. Ronald dela Rosa is on the lam amid an arrest warrant issued against him by the International Criminal Court.

Integrated approach needed in transport planning–study

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S Philippine cities grapple with worsening traffic congestion, air pollution, and the growing impacts of climate change, mobility experts are urging policymakers to rethink how people and goods move through urban areas. A policy brief released by Liveable Cities Philippines under its Co+Lab New Mobility initiative argued that solving the country’s transport problems goes beyond building new roads or purchasing modern vehicles. Instead, it calls for an integrated approach that places accessibility, sustainability, and collaboration at the center of transport planning. The paper pointed out that transportation should not be viewed solely as a means of moving people from one place to another. Rather, mobility is a key driver of economic productivity, social inclusion, environmental sustainability, and overall quality of life. When transport systems are poorly planned, the paper said the consequences are far-reaching, from lost working hours and higher logistics costs to deteriorating public health and declining urban competitiveness. The polic y brief emphasizes that Philippine cities have reached a critical point where fragmented transport policies can no longer keep pace with rapid

urbanization. Congestion has become a daily reality for millions of commuters, while rising vehicle ownership has strained already limited road space. At the same time, cities are under increasing pressure to reduce greenhouse gas emissions and improve air quality. To address these challenges, the report promotes the concept of “new mobility,” which integrates cleaner technologies, smarter infrastructure, digital innovation, and people-centered urban planning. Instead of prioritizing private vehicles, cities are encouraged to develop transport systems that give greater emphasis to pedestrians, cyclists, public transportation users, and other sustainable modes of travel. One of the key recommendations is to strengthen coordination among national government agencies, local government units, transport operators, private companies, and civil society organizations. The policy brief notes that many mobility initiatives fail because responsibilities are fragmented across different institutions with overlapping mandates. Better coordination, supported by clear governance structures, would help ensure that transport investments complement one another rather than operate in isolation. The report also underscores the im-

portance of local governments in shaping future mobility systems. Since cities and municipalities are closest to commuters, they are well-positioned to implement context-specific solutions such as integrated transport planning, safer pedestrian infrastructure, protected bicycle lanes, and policies that encourage the adoption of low-emission vehicles. Digital technologies are, likewise, expected to play an increasingly significant role. The policy brief highlights the growing use of data-driven transport management, intelligent traffic systems, and digital platforms that improve route planning, fleet management, and commuter information. Such technologies can help make transport networks more efficient while reducing travel times and operating costs. The transition toward electric mobility also forms an important part of the broader strategy. However, the paper stresses that electric vehicles alone will not solve urban mobility problems. Their adoption must be supported by adequate charging infrastructure, reliable power supply, financing mechanisms, and coherent national and local policies. Without these complementary measures, the benefits of vehicle electrification may remain limited.

Beyond infrastructure, the policy brief calls for behavioral and institutional change. The paper said encouraging people to shift from private cars to public transport, walking, and cycling requires safe, reliable, and convenient alternatives. Likewise, policymakers must adopt long-term planning frameworks that transcend political administrations and provide continuity for transport projects. The study urged the government to align mobility planning with broader national goals, including climate resilience, economic competitiveness, public health, and inclusive urban development. Investments in sustainable transport, according to the paper, generate multiple benefits by reducing emissions, improving accessibility, lowering transport costs, and creating healthier communities. Ultimately, the policy brief argues that building liveable cities requires viewing mobility not merely as a transport issue but as a cornerstone of sustainable urban development. By adopting integrated policies and fostering stronger partnerships among stakeholders, the paper said the Philippine cities can move beyond short-term traffic solutions toward transport systems that support economic growth, environmental sustainability, and a higher quality of life for future generations. Rizal Raoul Reyes

Wednesday, September 16, 2026

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www.businessmirror.com.ph

Peza eyes opening of 30 economic Visayas on power zones in Metro Manila this year red alert...again

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By Ada Pelonia

HE Philippine Economic Zone Authority (Peza) is targeting the opening of around 30 economic zones this year, including information technology (IT) parks in Metro Manila. Peza Director General Tereso Panga said the agency expects the creation of some 30 ecozones in the metropolis in 2026. “We’re not confident enough to exceed the 30 [target], but at least if we can get 20 and more, that should be good enough,” Panga told reporters.

At present, he said 20 ecozones have been approved, “so, we hope to catch up on some remaining ecozones that are still pending in the Office of the President.” Panga said their target includes ecozones in Metro Manila, following the reopening of the metropolitan area to new IT parks.

“We’ll have to include that because technically, they are also ecozones. So, because of the lifting of the moratorium, we now see some IT park applications in that area,” he said. He earlier said five Metro Manila IT parks and centers are already seeking Peza registration and are expected to proceed to the presidential proclamation process. The projects include Altaire, One Trium Tower, ARCA South 1, Parqal, and The Yuchengco Centre. The Office of the President approved AO 45, lifting the six-year moratorium on the establishment and expansion of IT economic zones in Metro Manila. The order supersedes Duterteera AO 18, issued in 2019, which suspended new ecozone applica-

tions in the National Capital Region to encourage investments in the countryside. Meanwhile, Information Technology and Business Process Association of the Philippines (Ibpap) President and Chief Executive Officer Jack Madrid said some companies have expressed their investments in IT parks. Without disclosing the companies’ names, Madrid stressed that “the growth of this industry comes from Global Capability Centers [GCCs].” “Every week, every month, we get inquiries and expressions of interest from GCCs,” he said. Currently, Madrid noted that the Philippines has more than 200 GCCs, trailing behind India with 2,200.

‘Before scaling AI, retest the business case’ By Bless Aubrey Ogerio

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SUCCESSFUL artificial intelligence (AI) pilot does not necessarily mean a project is ready for full deployment, with companies needing to retest its costs, performance, data and risk controls under real-world conditions before committing more funding, according to IBM Consulting Philippines. IBM Consulting Philippines Managing Partner Natalie Pia Azarcon said pilots typically involve fewer users, curated data and limited AI usage, conditions that can change significantly once a system moves into production. “These two environments can therefore look very different from both an operational and economic perspective,” Azarcon told BusinessMirror in an email. The warning comes as Philippine companies show growing confidence in using AI even as relatively few have seen returns from their initiatives. IBM’s latest CEO Study found that 80 percent of Philippine CEOs surveyed are comfortable using AI insights for strategic decisions, but only 63 percent have a clear view of how AI will create a competitive advantage for their organizations. It also found that only 23 percent of those sur veyed said their AI initiatives had delivered the expected return on investment (ROI) in recent years, while just 17 percent had scaled

AI enter prise-wide. Azarcon said organizations should revisit their assumptions before seeking additional funding to expand an AI project. “What will it cost to run the AI at expected usage levels? Does its accuracy and reliability hold against real business data? How much human review will be required? Can the underlying data and systems support full integration? And will security and governance controls remain effective as usage expands?” she said. AI’s initial value is often easier to demonstrate through operational improvements, Azarcon said, such as faster and more consistent processes. But she added that larger financial returns depend on whether those gains can be extended across an entire workflow. She mentioned how companies should also reassess token and computing costs at production scale. Higher usage, larger volumes of data and more complex AI workflows can materially change the economics of a project compared with a small pilot. Once a used case is cleared for expansion, companies should also avoid building separate foundations for every AI project, the IBM executive said. “It is crucial to build reusable capabilities such as shared data foundations, repeatable evaluation and deployment practices, and consistent governance that can

support multiple models, agents and workflows,” Azarcon said. Organizations should then select models based on the requirements of each workload, embed security and governance throughout the AI lifecycle and continuously optimize their systems so that infrastructure and operating costs do not rise disproportionately as adoption grows. “Successful AI scaling is therefore both an operating-model and investment decision,” Azarcon said. “Business, technology, data, risk, and operations leaders need a common view of how the AI performs, what it costs to operate, and where human intervention remains necessary.” “For Philippine organizations, the discipline is to retest the business case before approving scale— not discover after deployment that the economics, operating model or risk profile have changed,” she added.

Can MSMEs catch up?

SMALLER businesses, meanwhile, do not need to follow the same adoption path or operate at the scale of large enterprises to benefit from AI, Azarcon told this newspaper. In a Philippine Institute for Development Studies report, 14.9 percent of Philippine firms used AI technologies, with adoption concentrated among larger businesses and firms in urban areas, particularly in information and

communications technology and business-process outsourcing. The gap suggests that access to technology and readiness to deploy AI remain uneven among smaller businesses. At the same time, Azarcon said basic AI tools are becoming easier for micro, small and medium enterprises (MSMEs) to access, including free or low-cost generative AI applications and AI features built into productivity, design, accounting and point-ofsale software. But access alone does not mean a business is ready to deploy AI. MSMEs still need to consider the accuracy of AI outputs, the protection of business and customer information, the quality of their underlying data and whether a tool actually improves the process it is meant to support, Azarcon said. Rather than attempting broad AI deployments, smaller firms can start with a specific business problem where the benefit can be measured and implementation risks managed. Possible starting points include responding to customer inquiries, preparing documents, managing inventory or supporting employees. The practical path for MSMEs, Azarcon said, is to begin at an appropriate scale, use accessible tools for a clearly defined business need, establish basic safeguards and expand only when the benefits are demonstrated.

Lawmaker seeks creation of unified electronic medical records system

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LAWMAKER is pushing for the creation of a nationwide unified Electronic Medical Records (EMR) system, saying fragmented patient information systems are contributing to unnecessary healthcare expenses and limiting the

efficiency of government medical services. Parañaque Rep. Brian Yamsuan said his proposal would help the government maximize limited healthcare resources by allowing public hospitals and health facilities to securely share patient information, reduce

duplicate medical procedures, and improve coordination in patient care. The lawmaker made the call as the Department of Health (DOH) faces the challenge of implementing priority programs amid tighter fiscal conditions following the reduction of its proposed 2027 budget. During the House Committee on Appropriations hearing on the DOH budget proposal, Yamsuan questioned how the agency would sustain its programs after the Department of Budget and Management (DBM) reduced the department’s proposed P837 billion budget to P353.8 billion under the 2027 National Expenditure Program. The House of Representatives is considering possible realignments in the proposed national budget to increase funding for the health sector while recognizing the country’s limited fiscal space. Health S ecretar y Edwin Mercado earlier said that improving coordination between DOH hospitals and healthcare facilities managed by local governments (LGUs) would be among the department’s measures to ensure more efficient healthcare spending.

Yamsuan said a unified EMR system would be critical in making this inter-referral system work by providing healthcare workers access to accurate and updated patient records. “Sometimes, laboratory tests already conducted at an LGU healthcare facility are repeated when patients reach DOH hospitals because there is no coordination. This results in additional expenses for the government,” Yamsuan said. He added that patients who transfer between healthcare facilities are often required to repeatedly provide the same medical information, creating risks of errors, delays, and loss of important health records. “These can all be avoided by establishing a unified EMR system, which would serve as a secure and centralized digital platform that records and stores relevant patient information,” Yamsuan said. Under the measure, the EMR system would initially cover public healthcare facilities under the DOH, LGUs, and government-owned and controlled corporations. It would eventually expand to include private hospitals, clinics, diagnostic centers, and other healthcare providers. Jovee Marie N. dela Cruz

By Lenie Lectura @llectura

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ED alert has once again been raised over Visayas power grid. Based on the grid alert notice provided by the National Grid Corporation of the Philippines (NGCP), the red alert takes effect from 5:00 p.m. to 7:00 p.m. while the yellow alert was raised from 3:00 p.m. to 5:00 p.m. and from 7:00 p.m. to 8:00 p.m. Red alert is issued when power supply is insufficient to meet consumer demand and the transmission grid’s regulating requirement. Yellow alert is issued when the operating margin is insufficient to meet the transmission grid’s contingency requirement. The Visayas’s available capacity stood at 2,352 megawatts (MW) on Tuesday while peak demand reached 2,492MW. There are 12 plants are on forced outage this month, three plants since August 2026, one plant since July, two plants since June, seven plants since May, three plants since 2025, two plants since 2024, two plants since 2023, and one plant since 2021, while 15 plants are running on derated capacities, for a total of 962.9MW unavailable to the grid. The Department of Energy (DOE) said it is advancing new generation capacity and a major transmission interconnection to meet Panay’s long-term electricity requirements. During the Regional Development Council Region VI meeting at the Department of Economy, Planning, and Development Regional Office VI in Iloilo City on Tuesday, Enrgy Secretary Sharon S. Garin presented the DOE’s near-, medium-, and long-term measures to strengthen the reliability and resilience of the region’s power supply.

At the center of the long-term strategy is a pipeline of energy investments that could bring 135 megawatts (MW) of baseload capacity to Panay by 2028, 270 MW in 2029 and another 150 MW in 2030. The region could also gain 220 MW of gas-fired midmerit capacity by 2028 to respond more flexibly to changes in electricity demand and supply. The DOE is also implementing the Mindoro-Panay Interconnection Project as a strategic component of the region’s longterm energy security. Once completed, the project will connect the Visayas grid to the transmission link between Batangas and Mindoro, creating a critical loop connection between Luzon and the Visayas that will enable the transfer of additional power across the two grids. While these long-term projects are being prepared, the DOE is carrying out immediate measures to ease current supply constraints. These include facilitating the return to service of generating units on forced outage, such as large plants operated by Therma Visayas, Inc. and Panay Energy Development Corporation in the Visayas, as well as Therma South Inc. and GNPower Kauswagan Ltd. Co. in Mindanao. The scheduled return of these units in September and October 2026 is intended to restore available capacity, rebuild power reserves, and reduce the risk of recurring yellow and red alerts in the Visayas. For the medium term, the DOE is facilitating the deployment of 253 MW of ancillary service capacity across the Visayas, including battery energy storage system projects in Cebu, Leyte, Negros, Bohol, and Panay. These facilities can respond rapidly when supply suddenly falls, helping stabilize the grid and lessen the risk of service interruptions.

BCDA, DTI to pitch LEC prospects in Japan forum By Henry Empeño

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UBIC BAY FREEPORT—Following the successful inaugural Luzon Economic Corridor (LEC) Investment Forum in Manila last week, the Bases Conversion and Development Authority (BCDA) will make a pitch for high-potential business opportunities in key Philippine growth areas in Japan next month. The BCDA said that it will conduct the Philippine Investment Forum-Japan on October 1 at the Swissôtel Nankai in Osaka, and on October 5 at the Imperial Hotel in Tokyo, in tandem with the Department of Trade and Industry’s Philippine Trade and Investment Center (DTI-PTIC) and the Philippine Embassy. The forum will showcase investment opportunities in BCDA-managed economic zones in Clark Field, Pampanga; New Clark City in Tarlac; Poro Point in La Union; Camp John Hay in Baguio City; as well as the Subic Bay Freeport, the BCDA said. The DTI said the forum will serve as a “premier platform” to explore highpotential investment and co-development opportunities across the LEC, with focus on the pivotal US-led Pax Silica project at New Clark City, which offers prospects for supply chain integration in critical minerals and advanced technology. Attendees in the exclusive forum will get comprehensive presentations on the competitive advantages of the LEC, and then join dedicated business-to-business

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to the project should be assessed based on factual documentation, including the nature of transactions, their purpose, timing, and any connection to the project. The former and current lawmakers likewise said that questions regarding the project’s reported accomplishment should be reviewed through official records, includ-

networking sessions with BCDA officials and key partner agencies, the DTI said. The upcoming Japan investment forum comes a month after the Philippine Economic Briefing in Hong Kong on September 7. In the said briefing, Philippine officials led by Finance Secretary Frederick Go gave the Hong Kong business community a view of local opportunities in high-tech manufacturing, renewable energy, digital infrastructure, and logistics, and apprised traders of Philippine investment policies, incentives, and potential partnership areas. BCDA President and Chief Executive Officer Joshua Bingcang, who joined the briefing, meanwhile highlighted projects at New Clark City, Camp John Hay, and Poro Point as key growth areas for investment and business expansion. The State-owned BCDA serves a prime mover, strategic infrastructure developer, and investment promoter for the LEC initiative, which seeks to integrate the premier ports of Subic, Clark, Manila, and Batangas into a seamless commercial and industrial growth network. The recent LEC Investment Forum in Manila, which was co-hosted by the Philippines, the United States, and Japan, and sponsored by the US Trade and Development Agency, gathered some 600 investors and industry leaders in transportation, energy, digital infrastructure and advanced manufacturing supply chains. ing project reports, certifications, contracts, payments, inspections, and other relevant documents. The Matugases stressed that the preliminary investigation provides the appropriate venue where allegations, evidence, and their explanations can be reviewed fairly. They reiterated their commitment to cooperate with the Ombudsman and provide all required documents and information throughout the proceedings. Jovee Marie N. dela Cruz

Wednesday, September 16, 2026

Sen. Win renews call for ERC to audit fuel pass-through amid new spikes in fuel prices By Butch Fernandez @butchfBM

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OLLOWING a fresh substantial spike in fuel prices, Senate President Win Gatchalian renewed his call for the Energy Regulatory Commission (ERC) to conduct an audit of fuel pass-through to ensure any additional increase in electricity prices is justified and reasonable. With fuel prices breaching the P100-per-liter mark, Gatchalian warned that consumers could once again face higher electricity bills. Gatchalian earlier filed Senate Resolution 581, seeking an inquiry into the lack of regular fuel cost audits. As of June this year, the Philippines posted the

highest average residential electricity rate in Southeast Asia at P12.43 per kilowatthour (kWh), exceeding Singapore’s P12.34 per kWh. Gatchalian emphasized that elevated generation charges and inadequate fuel cost audits underscore the urgent need for greater transparency and accountability to ensure electricity is supplied at the least cost. He pointed out that in the case of Meralco, for instance, the distribution utility’s generation charges consist of fuel tied to its contracted supply of liquefied natural gas and coal, with such fuel cost representing 86.16% of its total generation charges in July 2026.

BARMM polls seen as ‘gold standard’ for ‘28 elections By Mary Jade Jadormio & Samuel P. Medenilla @sam_medenilla

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HE Commission on Elections (Comelec) is treating the first Bangsamoro parliamentary elections (BPE) as a potential “gold standard” for the 2028 national and local polls, citing the high voter turnout and rapid electronic transmission of results despite several incidents of violence. Comelec Chairman George Erwin M. Garcia said the Bangsamoro polls recorded an average voter turnout of about 81 to 82 percent, equivalent to roughly 1.9 million voters. “For us, if we balance this and look at it, this is somehow a gold standard that we can consider in our elections,” Garcia said. Despite the generally peaceful and orderly conduct of the first ever BARMM polls, President Ferdinand R. Marcos Jr. said the isolated incidents of violence in Cotabato City, which resulted in fatalities during the said elections was still “one too many,” according to Malacañang. “The President would not be pleased if even a single person were hurt; even if we say that yesterday’s election was generally peaceful and orderly, the fact that someone was injured— even just one person—would not sit well with anyone, especially the President,” Palace Press Officer Claire Castro said in Filipino in a press briefing last Tuesday. The Comelec disclosed there were at least four fatalities and 19 injured in the said polls last Monday. The Philippine National Police (PNP) also reported at least 16 election-related incidents in the region during the said elections. “So far, no other significant untoward incidents had been reported,” said Castro quot-

ing PNP. Citing the initial report from PNP, she said there was also a high voter turnout from the latest BARMM polls at 82.41 percent, which may still increase once more voting centers complete the voting process. “This is 4.79 percent points higher than the 77.62 [percent] voter turnout recorded in BARMM during May 2025 National and Local Elections,” she said. “So, from the administration’s perspective, the election in the BARMM yesterday went well,” she added. Garcia said replicating the turnout and overall performance of the BARMM elections could be difficult, particularly because the leadership of the Comelec and security sector will change before the 2028 elections. The poll body also credited the automated transmission of results for allowing political parties and the public to quickly verify the emerging outcome of the elections. Garcia said nearly 42 percent of election results had already entered Comelec servers about 30 minutes after polling closed, while the results for most positions were already becoming clear by around 8:30 p.m. to 9 p.m. “As the polling places closed, after just 30 minutes, almost 42 percent immediately entered all the Comelec servers,” he said. The speed of transmission, Garcia added, helped curb misinformation, disinformation and possible violence by allowing political groups to see the results rather than wait for the manual counting and transmission process. Comelec is targeting 100 percent electronic transmission of election returns for the first BPE, with 98.41 percent of the 5,212 precincts already

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Ombudsman official: VP Sara declared biz interests without shares, costs in SALNs By Jovee Marie N. Dela Cruz

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@joveemarie

ICE President Sara Z. Duterte declared several business interests in her Statements of Assets, Liabilities, and Net Worth (SALNs) without indicating corresponding shares of stock or acquisition costs, an Office of the Ombudsman official testified on Tuesday during the House impeachment proceedings. Atty. Karen S. Batu, officer-incharge of the Ombudsman’s Central Records Division, presented Duterte’s SALN records from 2007 to 2025 as House prosecutors examined allegations under Article II of the Articles of Impeachment. The review began with Duterte’s 2007 SALN, her first year in elective public office. Batu testified that Duterte’s 2007 SALN listed three business interests: Davao Emerging Taipan Corp., Davao Bounty Times Food Corp., and City Hall King Chow Foods Corp. The document identified Duterte as a stockholder, but it did not include any declared shares of stock or acquisition costs. When prosecution counsel James Bryan Ibrahim Alih asked what stocks or acquisition costs Duterte declared in her 2007 SALN, Batu replied, “For the 2007 SALN, Vice President Sara did not declare any stocks or any acquisition costs.” Alih then clarified the issue by asking, “So there were businesses declared, but there was no declared capital or investment amount. Is that correct?” Batu responded, “That is what appears in her SALN.” The court later clarified that “puhunan,” or capital, is distinct from acquisition cost. The prosecution continued reviewing Duterte’s succeeding SALNs. Batu testified that from 2010 to 2012, several business interests were listed but without declared shares of stock or acquisition costs. She gave similar testimony regarding the 2016 to 2018 SALNs, stating, “Based on the records of the three SALNs, there were no declared shares of stock under Vice President Sara’s name.” Batu added that the 2019 to 2021 SALNs also showed business interests without declared acquisition costs. “Based on these SALN submissions, there were no acquisition

costs indicated. No acquisition cost was declared,” she testified. The examination later focused on Duterte’s declarations after she became vice president in 2022. Batu said Duterte’s 2022 SALN continued to list business interests, including Davao New Royal Taipan Corp., Metro City Chow Foods Corp., Timesquare Bee Foods Corp., and Tapang at Malasakit Alliance for the Philippines Inc. The same SALN also contained business interests associated with her husband, law yer Manases “Mans” Carpio, including Carpio Duterte Lawyers, Cale88 Foods Corp., 888 Bistro, and Madayaw Fisheries Corp. Additional business interests appeared in Duterte’s 2023 SALN, including Mati City Ice Plant and Cold Storage Inc., Amianan Shores Inc., and Geometry Security and Investigation Agency Inc. Batu further testified that Duterte’s 2024 and 2025 SALNs continued to include business interests but did not show declared shares of stock or acquisition costs. “Based on the 2024 and 2025 SALNs, there were no declared shares of stock,” Batu said. She added that “no acquisition costs were stated in the two SALNs.” The testimony followed the appearance of retired Sandiganbayan Presiding Justice Amparo Cabotaje-Tang, who explained the legal requirements governing SALN disclosures. She said investments such as shares of stock are considered personal properties and must be reported together with their acquisition costs. Cabotaje-Tang also discussed the constitutional restrictions imposed on the president and vice president, explaining that they are prohibited from directly or indirectly engaging in business activities and must divest interests covered by these limitations.

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DUTERTE’S SALNs will be compared with tax records, bank documents, corporate filings, and other financial records as House prosecutors continue presenting evidence in the alleged unexplained wealth case before the Senate impeachment court, according to House prosecutor and Bicol Saro Party-list Rep. Terry Ridon said. Ridon said Duterte’s SALNs served as the foundation for examining additional evidence that prosecutors intend to present in the proceedings. “The submission of all the SALNs is very important because all other evidence moving forward will be compared against these declarations,” Ridon said during a post-trial press conference. Ridon said prosecutors are preparing to present records from several government agencies, including the Securities and Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Anti-Money Laundering Council (AMLC), and the Philippine National Police Firearms Division. He added that bank accounts and other financial instruments obtained through subpoenas would also be reviewed and matched against the information disclosed in Duterte’s SALNs. Ridon said particular attention would be given to Duterte’s SALNs from 2022 to 2025, covering the period when she served as vice president. Atty. Karen Batu, officer-in-charge of the Office of the Ombudsman’s Central Records Division, presented Duterte’s SALNs from 2007 to 2025 during Tuesday’s hearing. The records showed that Duterte declared a net worth of P7.25 million in 2007, when she entered public service as Davao City vice mayor, and P98.66 million in her 2025 SALN. Ridon emphasized the significance of Duterte’s 2025 SALN, noting that it was not included during the House impeachment proceedings. “The 2025 SALN is the most recent declaration because it was not available during the House proceedings. It was only introduced here during the trial,” he said. P r o s e c ut i o n c o u n s e l a n d spokesperson Benjamin “Jay” Tolosa Jr. said prosecutors aim to determine whether Duterte’s declared wealth is consistent with her tax filings and other financial records. “Our objective is to see whether the figures stated in the SALN match the figures that will appear in the BIR tax filings and other evidence that will reveal the total wealth of

the vice president,” Tolosa said. Tolosa added that the comparison of these records would help the prosecution determine whether Duterte’s declarations accurately reflected her financial standing. Article II of the Articles of Impeachment accuses Duterte of alleged unexplained wealth and false or incomplete asset declarations. Prosecutors said the review of SALNs alongside financial records will be crucial in establishing whether the declarations complied with legal requirements.

‘Yaman’

DEFENSE counsel Justin Nicol Gular has objected to the prosecution’s use of the Filipino word “yaman” to translate the term “net worth,” during Vice President Sara Duterte’s impeachment trial on Tuesday. While questioning lawyer Batu private prosecutor James Bryan Ibrahim Alih used the word “yaman.” Batu is the second witness of the prosecution for Article II of the articles of impeachment against Duterte. Gular argued that the prosecution should stick strictly to the exact terminology written in the official documents. Both Gular and Alih briefly engaged in a verbal tussle over translation of the word “net worth” while questioning Batu on Duterte’s Statement of Assets, Liabilities, and Net Worth for 2008, translating it as “yaman ng Vice President.” “Your Honor, if I may, maybe the good counsel, it would be best if he sticks to the terms used in the documents,” Gular said, stressing that Alih should use the terminologies found in the documents presented to the court. Alih then interjected that the defense counsel should not “muzzle or gag” of the prosecution. He said the defense should allow him to question the witness, but Gular insisted on his objection. “They stated that the witness will be identifying the documents. Now, here comes the counsel from the prosecution using words that are outside the documents themselves. That is why precisely we are asking, gently and respectfully, that they just use the term as used in the documents,” Gular said. Presiding Officer Francis “Chiz” Escudero intervened, stating he could not directly translate the term either—noting that the closest formal translation might be “kabuuang pagmamay-ari” which incorrectly presumes liabilities are already deducted—and ultimately directed the prosecution to use the literal term “net worth.” With Claudeth Mocon-Ciriaco

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Solon flags ₧58.53-B Local Government Support Fund as possible ‘pork’ in ‘27 budget LAWMAKER raised concerns over the proposed P58.53 billion Local Government Support Fund (LGSF) for 2027, questioning whether the lump-sum allocation could give the executive branch discretion similar to a pork-barrel mechanism. The issue surfaced during House deliberations on the proposed P7.2 trillion national budget on Tuesday, as lawmakers questioned who ultimately determines which local government units (LGUs) receive LGSF assistance, how much they receive, and for what projects. House Committee on Appropriations Chairperson Mikaela Angela B. Suansing, sponsor of the 2027 national budget, said the Department of Budget and Management (DBM) evaluates requests based on the parameters and “menu” of eligible uses approved by Congress under the General Appropriations Act (GAA). Caloocan Rep. Edgar R. Erice, however, questioned whether decisions on the benefi-

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ciaries and amounts could effectively be left to the discretion of the executive. The concern is particularly relevant because some LGSF components are not individually identified as line items in the national budget, meaning Congress does not specify in the budget itself the amount to be allocated to each beneficiary or project. Erice also raised the issue of undue delegation of legislative power, asking whether Congress was effectively allowing the executive to exercise authority over appropriations that should remain with the legislature. Suansing defended the arrangement, saying DBM’s actions remain within the parameters set by Congress. She said the GAA establishes the standards, policy, and conditions governing the use of the LGSF. “The approval, the evaluation, and the approval stops at the level of DBM. This does not need to be submitted to the Office of the President,” she added. Justine Xyrah Garcia

QC RTC judge refused to inhibit from grave threats case vs VP

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HE Regional Trial Court (RTC) of Quezon City has denied the motion filed by Vice President Sara Duterte seeking the inhibition of the presiding judge in the grave threats case filed against her by the Department of Justice (DOJ). QC RTC Branch 98 Presiding Judge Maria Angelica de Ramos ruled that Duterte’s camp failed to show evidence to support their claim of bias in favor of the prosecution. “All told, absent any clear and convincing evidence of actual bias, prejudgment, or an improper connection that reasonably calls the undersigned impartiality into question, the undersigned sees no cogent reason for her to inhibit or recuse herself from hearing these cases,” the order read. The judge also rejected Duterte’s claim of bias based on her appointment by President Marcos Jr., noting that the judge appointed by the President does not make her a political representative. De Ramos appointed by the President to her post in March 2025. “Upon assumption of judicial office, the judge is bound to decide cases independently,

on the basis of the Constitution, the law, and evidence on record,” the order read. “Therefore, the Court rejects the accused claim of bias solely on the undersigned’s appointment by the President,” it added. In her motion seeking the judge’s recusal, Duterte claimed that De Ramos acted with manifest partiality, bias, and favoritism when the Court allegedly assisted the prosecution in the establishment of probable cause after it directed them to submit evidence not include in the original submission. Duterte pointed out that the prosecution’s failure to submit digital evidence would have been a fatal flaw since the purported grave threats were committed through the use of livestreaming service. Without the said digital evidence, Duterte’s camp stressed that the prosecution would have no evidentiary basis for the determination of probable cause. In a statement, Duterte’s lawyer Paul Lawrence Lim confirmed that De Ramos denied their motion for inhibition but vowed to exhaust all other legal remedies against the order. He also noted that the court directed both

parties to strictly comply with the sub judice rule and to refrain from publicly discussing the merits of the case. “We will continue to comply, consistent with the Vice President ‘s respect for the rule of law,” Lim said. It may be recalled that Duterte’s camp has also filed a petition before the Supreme Court (SC) seeking the issuance of a temporary restraining order (TRO) enjoining the prosecution of the grave threats charges. Duterte also asked the SC to nullify the resolution issued by the DOJ last August 11 which found prima facie evidence with certainty of conviction to charge her with three counts of grave threats before the QC RTC. The petitioner cited Section 2, Article XI of the 1987 Constitution which provides that the President, the Vice President, the members of the SC, the members o the Constitutional Commissions, and the Ombudsman “may be removed from on impeachment for, and conviction of, culpable violation of the Constitution,, treason, bribery, graft and corruption and other high crimes, or betrayal of public trust.”

Duterte argued that as an impeachable officer she is vested by the Constitution and jurisprudence with “ limited procedural immunity.” The doctrine provides that impeachable officials cannot be criminally charged during their incumbency because they are subject to a distinct constitutional process of accountability which is the impeachment. Duterte further argued that allowing the DOJ to proceed with her criminal prosecution would reduce impeachment to a redundant or optional process. The grave threats case was filed in connection with Duterte’s November 2024 online press briefing where she claimed that she had hired someone to assassinate President Ferdinand “Bongbong” Marcos Jr, First Liza Araneta-Marcos and House Speaker Martin Romualdez if a purported plot against her life succeeds. After hearing the parties in an oral argument on the issue, the QC RTC rejected Duterte’s motion to quash the information and issued an arrest warrant against the Vice President last September 4. Joel R. San Juan

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First Gen to provide renewable baseload power to 10 Visayas electric cooperatives

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By Carmel Pedroza

EBU CITY—Ten electric cooperatives in the Visayas are set to gain access to a long-term source of renewable baseload power under new agreements with the First Gen Group, strengthening the region’s electricity supply while helping insulate consumers from fluctuations in international fuel prices.

First Gen will supply more than 24 megawatts (MW) of baseload electricity to the

cooperatives for 15 years, with the power coming from its Unified Leyte Geothermal

BARMM. . .

and the Philippine National Police to identify those responsible.

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received electronically as of the briefing. Garcia said the commission is also moving to hold accountable those behind election-related violence, coordinating with the Office of the Presidential Adviser on Peace, Reconciliation and Unity, the Armed Forces of the Philippines

Peaceful and orderly

VOTING in Maluso, Basilan for the elections resumed on Tuesday, the PNP said. At a press conference in Quezon City, Police Colonel Allen Rae Co said despite isolated cases of violence, particularly in Cotabato City, the election was generally peaceful and orderly.

Power facilities. The agreements are expected to provide the participating utilities with a stable, indigenous source of electricity that can operate around the clock. The Power Supply Agreements (PSAs) were signed following the Competitive Selection Process (CSP) conducted by the National Electrification Administration (NEA) under the Luzon and Visayas Electric Cooperatives Aggregation (LVECA). The 10 participating cooperatives are Capiz Electric Cooperative Inc. (CAPELCO), Cebu I Electric Cooperative Inc. (CEBECO I), Cebu II Electric Cooperative Inc. (CEBECO II), Guimaras Electric Cooperative Inc. (GUIMELCO), Iloilo I Electric Cooperative Inc. (ILECO I), Iloilo II Electric Cooperative Inc. (ILECO II), Iloilo III Electric Cooperative Inc. (ILECO III), Negros Occidental Electric Cooperative Inc. (NOCECO), Negros Oriental

I Electric Cooperative Inc. (NORECO), and Negros Oriental II Electric Cooperative Inc. (NORECO II). The agreements form part of NEA’s broader effort to combine the electricity requirements of 29 electric cooperatives through LVECA. By pooling demand, the cooperatives were able to improve their purchasing position and pursue more competitive electricity supply arrangements. The CSP is the government-mandated process used by distribution utilities to procure electricity at the least reasonable cost for their customers. NEA Special Bids and Awards Committee Vice Chairperson Atty. Alexander Paul Rivera said the agreements establish a long-term partnership between the cooperatives and power generators, with the shared objective of providing consumers with dependable

“Overall, the election was generally peaceful and orderly except for an isolated incident in Cotabato City,” Co said. According to Co, initial reports indicate a high voter turnout of 82.41 percent. “This is expected to increase as the voting resumes in the 13 clustered precincts in Maluso, Basilan,” he said. To recall, the voting in Maluso was delayed on Monday due to the replacement of pre-

shaded ballots. “The replacement ballots arrived, and voting commenced this morning. Election paraphernalia have been accounted for and returned,”he said. According to Co, there was no untoward incident reported as of this writing. The voter turnout observed is 4.79 percent higher than the 77.62 percent turnout recorded in BARMM during May 2025. With Jonathan L. Mayuga

electricity at competitive rates. For the cooperatives, aggregation also provided greater buying power and economies of scale. NORECO II General Manager Atty. Fe Marie Dicen-Tagle said the arrangement would help cooperatives secure reliable and sustainable electricity while giving them greater leverage in negotiating supply terms. For First Gen, the agreements expand the role of geothermal energy in meeting the Visayas’ long-term electricity requirements. Jerome Cainglet, president of Energy Development Corporation (EDC), a First Gen Group company, said the use of indigenous geothermal resources gives the cooperatives access to renewable power that is available continuously and is less exposed to movements in global fuel markets.

“Choosing geothermal energy” also supports greater use of domestic renewable resources while reducing exposure to external energy price shocks, Cainglet said. First Gen is the Philippines’ largest supplier of geothermal power, accounting for 63% of the country’s total installed geothermal capacity. The group is also the country’s leading renewable energy producer, with about 1,700 MW of generating capacity from 31 hydro, geothermal, solar and wind facilities across the Philippines. With the 15-year supply commitments, the participating Visayas cooperatives will have a long-term source of renewable baseload electricity, potentially providing greater stability in power procurement while supporting the region’s transition toward indigenous and lower-carbon energy resources.

Maynilad targets 35% RE by 2037 By Jonathan L. Mayuga @jonlmayuga

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EST Zone concessionaire Maynilad Water Services, Inc. (Maynilad) is setting out a long-term roadmap to increase the share of renewable energy (RE) in the company’s total electricity consumption to 35% by 2037 under its Climate Neutrality Plan. In a statement, the company said that as the first major initiative under the roadmap, Maynilad will increase the RE component of electricity supplied under its contract with MPower, Meralco’s local retail electricity supplier, from 10% to 20% beginning next year. The increase is expected to reduce the company’s carbon emissions by approximately 8,500 metric tons annually. The Renewable Energy Transition Plan outlines a combination of RE electricity procurement, on-site solar generation, and energy efficienc y initiatives designed to reduce carbon emissions, strengthen energy security, and support the long-term resilience of Maynilad’s water and wastewater operations.

Solar rooftops

AMONG the initiatives identified under the roadmap is the installation of new rooftop solar photovoltaic systems at 20 company facilities, including water treatment plants, pumping stations, reservoirs, wastewater treatment plants, and sewage pumping facilities. These will complement Maynilad’s existing solar facilities at the La Mesa Compound and further expand the company’s use of renewable energy. “The completion of this roadmap marks a major milestone in our sustainability journey. By steadily increasing our use of renewable energy and investing in cleaner technologies, we are reducing our carbon footprint while strengthening the long-term resilience of our operations,” said Maynilad Chief Sustainability Officer Atty. Roel S. Espiritu. The Renewable Energy Transition Plan was developed following an assessment of Maynilad’s energy consumption and carbon emissions, supported by RE feasibility studies and implementation planning. It will guide the company’s renewable electricity procurement and on-site generation projects as it works toward sourcing 35% of its total electricity requirements from renewable energy by 2037.

TheWorld

Editor: Lyn Resurreccion

Wednesday, September 16, 2026

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Drone-hit Saudi pipeline shut for weeks, limiting oil flow By Samy Magdy

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The Associated Press

AIRO—A crucial Saudi oil pipeline that was struck in an attack will be mostly out of service for weeks as the damage is repaired, two regional officials said Monday, as Yemen’s Houthi rebels seized more islands along Red Sea shipping routes in a new blow to Saudi Arabia’s oil exports.

Oil prices gained more than 2 percent amid growing worries about global petroleum supplies and the effect of the new developments on the ability of the world’s biggest exporter to get its crude to market. The Iran war has forced the kingdom to shift its exports away from the Persian Gulf, since Iranian attacks have stifled shipping through the gulf ’s sole exit, the

Strait of Hormuz. So the kingdom has relied on the East-West Pipeline, which runs 1,200 kilometers (745 miles) across the breadth of the country, to move its crude production from Gulf ports to the port of Yanbu on the Red Sea. From there it can be put on tankers for export. But authorities were forced to shut down the pipeline after an attack Thursday that Saudi

Arabia blamed on drones from Iranian-backed militias in Iraq. Repair ing the damage, including at a major pumping facility, could take three to five weeks, the officials, who have been briefed on the matter, told The Associated Press. The pipeline may work partially during the repairs, one of the officials said, but they could not say how much oil might get through. The pipeline has been moving an average of 2.6 million to 4 million barrels per day since late August—a quantity that will be lost to the market if the pipeline’s flow stops completely, according to an analysis issued Monday by Rystad Energy, a Norway-based research firm. It said the jump in prices for Brent crude, which reached $109, “is a clear signal that the market is increasingly pricing in a significant loss of supply.” The Saudi oil company Aramco, which operates the pipeline, didn’t immediately respond to a request for comment. The government-run Center for International Communication, which oversees foreign media in the

HOUTHI fighters escort a convoy carrying prisoners freed in Mokha through the Bani Matar district on its way to Sanaa, Yemen, on September 12, following the Houthi takeover of the southern Red Sea port city. AP/STR

kingdom, said it was looking into an AP inquiry about how long it will take to repair the pipeline.

Houthis’ capture of islands strengthens hold on a key outlet from the Red Sea

MEANWHILE, Yemen’s Iranianbacked Houthi rebels continued to expand their threat to Saudi shipping routes out of the Red Sea by capturing the strategic

Zelenskyy: Ukraine will pause strikes on Russia if Kremlin spares critical infrastructure By Claudia Ciobanu, Elise Morton & Hanna Arhirova The Associated Press

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YIV, Ukraine—President Volodymyr Zelenskyy said Monday that Ukraine is ready to halt its strikes on Russian territory if allies can secure a genuine Russian commitment not to hit Ukraine’s critical infrastructure. His comments came after US President Donald Trump claimed in a social media post that Russia and Ukraine had agreed “not to hit” each other’s energy infrastructure, though Trump did not offer further details on the purported agreement. Russia did not immediately comment on Trump’s claim. Previous efforts to broker even a partial ceasefire have repeatedly fallen apart within hours, with both sides accusing each other of violations. Trump did not offer further details about the agreement but it comes a day after the US president called on Zelenskyy to stop targeting Russian oil refineries and other infrastructure used to produce and distribute diesel, claiming the attacks are causing a global shortage. Diesel prices have surged in the US, and high fuel costs associated

with the Iran war have become a major issue for Trump’s party in upcoming congressional elections.

Ukraine still awaits concrete ceasefire plan from allies

HE also claimed that the rise in the price of global diesel fuel “is mostly caused by the Russian/ Ukraine war” and not Iran. But restricted shipments caused by the slowdown of oil flowing through the Strait of Hormuz and damaged refining systems in Russia are causing strains in the energy market. In his post, Zelenskyy said Ukraine has proposed that partners help secure an agreement with Russia for a ceasefire. It’s not the first time Kyiv has floated the idea. “Every day, Ukrainian energy facilities, port infrastructure, logistics, even food and pharmaceutical warehouses become targets,” he said. “The war must be ended. And a de-escalation step regarding critical infrastructure could be a first step toward peace.” Zelensky y said he “expects concrete proposa ls f rom our partners.” Trump on Sunday called on Zelenskyy to stop the strikes. Afterward, Kremlin spokesman Dmitry Peskov said any call on Kyiv to stop strikes on civilian

economic infrastructure “can only be welcomed.”

NATO vows more support for Ukraine after Russian drone strikes near Polish border

NATO Secretary-General Mark Rutte said Monday that Russian drone strikes near the UkrainePoland border—one of which hit a train shortly after senior visiting officials had passed through the same station—would drive the military alliance to increase its support for Kyiv, calling Sunday’s attacks a sign of Moscow’s growing desperation. The strikes “close to NATO territory” show Russian President Vladimir Putin’s “desperation and also his desire to sow fear and terror,” Rutte said at NATO’s political headquarters in Brussels. “Russia is growing increasingly reckless as it continues its terrible war against Ukraine.” Rutte pledged to increase support for Ukraine and bolster the 32-nation alliance’s own defenses along its long eastern border with Russia. “He thinks that he can stop us from supporting Ukraine and that he can undermine our unity. He is wrong,” the NATO chief said of Putin. Sunday’s strikes near the Polish

border are the latest in a string of incidents that officials say point to a deliberate pattern of escalation by Putin, as Moscow tests NATO’s response while pressing its offensive in Ukraine.

Poland, Ukraine increase security cooperatio along border

RUTTE’S comments came as Poland pledged increased security along its border with Ukraine after a wave of Russian drone strikes near the frontier, including two that landed within kilometers of Polish territory. Polish Prime Minister Donald Tusk warned Sunday that Moscow appears poised to intensify its campaign against Ukraine’s borders with European countries. Ukraine is under mounting pressure from Russia’s intensifying air campaign that uses ballistic missiles and jet-powered drones to pierce defenses. “ T hese com i ng week s a nd months will be a time of very intensified actions on the Russian side, and unfortunately we cannot rule out that this escalation will also affect our territory,” Tusk said Sunday after a governmental security briefing in Warsaw. He issued a similar warning on Thursday.

islands of Greater and Lesser Hanish, government and Houthi officials said Monday. The islands lie 160 kilometers (100 miles) north of the Bab elMandeb Strait. The strait is a choke point that connects the Red Sea to the open ocean and Saudi Arabia’s key Asian markets. T he Houthis’ advance also puts them just 20 miles (32 kilometers) from the US military

base in the tiny Horn of Africa nation of Djibouti, on the other side of the Bab el-Mandeb Strait. For more than a month, the Houthis have been striking Saudi oil infrastructure and shipping in the Red Sea, stepping up pressure on global oil prices and boosting Iran’s leverage in its war with the United States. T he Houthi advances have seemed to come with little resistance from Saudi-backed Yemeni government forces. The rebels deployed on the Hanish islands after hundreds of governmentallied forces withdrew from the archipelago, according to two government officials and a Houthi official. The officials spoke on condition of anonymity because they were not authorized to talk to journalists. Last week, the rebels seized the port city of Mokha and the island of Mayun, inside the Bab el-Mandeb Strait. Government forces are now attempting to rally and fight back. On Sunday, the military said it launched airstrikes on Houthi positions in Mokha, the coastal town of Dhubab and elsewhere in Taiz province.

Pentagon: There’s strategic inventory munitions shortfalls in war vs Iran By Tony Capaccio Bloomberg News

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HE US fired so many munitions at Iranian targets during the first few months of Operation Epic Fury that it “has resulted in strategic inventory shortfalls and revealed industrial base bottlenecks for munitions resupply,” Pentagon officials acknowledged to the Defense Department’s independent watchdog. Acquisition officials said they are “working to streamline procurement processes and production lead times, and to stockpile critical materials, components, and selected munitions to respond rapidly to a contingency,” the Pentagon inspector general (IG) said in a report released late Monday. The IG report which covers the US military’s operations in the conflict with Iran through June 30, marks an official confirmation of a problem the Trump administration has repeatedly downplayed. “The US has massive amounts of ‘munitions,’ especially of certain types,” Trump posted on social media August 6. In another post September 9, Trump said

the US has “virtually unlimited amounts” of mid- to high-grade ammunition—“far more than we could ever use for this, or for any other War.” The Defense Department estimated it had spent $22.3 billion worth of expended munitions in the war as of about the end of June, according to the report, while the overall cost through that period totaled more than $33 billion. The report is the Pentagon IG’s first quarterly assessment of Operation Epic Fury, and reads as a high-level budgetary guide to the cost of the war, with dollar amounts attached. Congress requires these quar terly reports on US military operations where appropriated dollars are spent. The report includes contributions from the watchdogs overseeing the State Department and US Agency for International Development. Iran’s military has damaged or destroyed “hundreds” of buildings and structures at US bases in the region, while US diplomatic facilities in four countries sustained physical damage from Iranian strikes, US Central Command told the IG.

The World www.businessmirror.com.ph

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Wednesday, September 16, 2026

US data centers set to burn more natural gas than most nations By Julian Hast Bloomberg News

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ATA centers in the United States will consume more natural gas than most countries within a decade, according to a new outlook from BloombergNEF. Gas consumption to produce electricity for data centers is expected to grow by 15 billion cubic feet per day in the 10 years to 2035, even accounting for many currently planned projects never being built, BloombergNEF said. That’s more gas than is currently consumed by all nations except China, Russia, Iran and the US itself, according to data from the US Energy Information Administration. It’s also more than double BloombergNEF’s previous forecast in December of 6.9 billion cubic feet per day. The report is the latest illustration of how the future of artificial intelligence (AI) is intertwined with the burning of vast amounts of fossil fuels, tying Big Tech’s ambitions to those of the legacy oil and gas industry. The abundance and low cost of producing natural gas in the US, combined with gas power plants’ ability to quickly ramp up and down as needed by 24/7 data centers, are a key part of why the fuel is expected to supply 69 percent of the power needed by new grid-connected facilities in BloombergNEF’s forecast. The wave of new projects powering the AI boom makes the power sector the second-largest driver of US gas demand in the decade through 2035, just behind the demand growth of new liquefied natural gas (LNG) export terminals entering service on the US Gulf Coast, according to the outlook. Power-sector gas consumption is expected to increase to 54 billion cubic feet per day by 2035, up by 18 billion cubic feet per day in 2025, while gas demand from LNG exports rises by 21 billion cubic feet per day. Given the uncertainty of how the AI boom will play out over the next decade, the “error bars” undergirding BloombergNEF’s forecast for data center gas consumption are “fairly large—both to the upside and the downside, frankly,” said Henry

Eaton, a gas market analyst at BloombergNEF and the lead author of the report. “Our power demand estimates are definitely not low, but they’re not the highest on the Street.” The soaring, simultaneous gas needs of AI data centers and LNG export plants pose “a complex challenge for domestic gas producers,” which are currently projected to raise gas output by 35 billion cubic feet per day between 2025 and 2035 but will need to produce an additional 11 billion cubic feet per day to meet forecasted demand, according to the outlook. BloombergNEF’s report adds to the growing bullish chorus around US natural gas because of the data center and LNG build-out, alongside fears that some of the highest-quality acreage in major US gas fields could become depleted as operators drill it more aggressively. Citing those same factors, Wood Mackenzie in July declared “the decade of cheap Henry Hub gas is coming to an end,” referring to the pipeline trading hub in Louisiana that sets the US benchmark for natural gas. The analyst firm projected power-sector gas demand to rise by 17 billion cubic feet per day “by the mid-2030s,” nearly identical to BloombergNEF’s forecast of 18 billion cubic feet per day. Wood Mackenzie’s outlook was followed by a viral interview with Chronometer Holdings LLC Founder Matthew Smith, who predicted that by the end of the decade, “you’re going to start to see a knife fight to secure natural gas.” “The biggest losers of this will be US consumer,” Smith said in the video interview which garnered 1.6 million views on X and was hotly contested by some in the industry. “I couldn’t disagree more with Matt’s view,” Ben Dell, managing partner of co-founder of investment firm Kimmeridge Energy Management Co., wrote in response to Smith’s dire outlook. While the US gas market will see “considerable demand growth” from LNG and data centers, ample undeveloped acreage within US gas fields help to explain how the gas industr y “has consistently met the demand while lowering costs on an inflation adjusted basis.”

Chinese economic momentum stays weak as consumption falters By Bloomberg News

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H I N A’ S c o n s u m e r s p e n d i n g a n d investment languished in August, even as industrial output improved more than expected, adding pressure on officials to step up support for the economy. Retail sales rose 0.4 percent from a year ago, worse than the consensus forecast for a 0.8 percent gain by economists in a Bloomberg poll, and down from 0.6 percent in July. Fixed-asset investment plunged 7.2 percent in the first eight months from the same period last year, slightly more than expected. Industrial output grew 5.2 percent in August, exceeding expectations and accelerating from July’s 4.5 percent gain. “The economy was overall stable in August,” the NBS said in a statement. “But we also need to see that the negative impact from the external environment is deepening, and the imbalance between strong supply and weak demand is still prominent domestically.” The yuan was steady in onshore and offshore markets after the data release and the yield on the government’s 10-year bond was little changed at 1.68 percent. The Chinese currency has outperformed its regional peers in the past five days despite the dollar’s rebound, as the People’s Bank of China set the daily fixing at a stronger level. China’s economic growth is at risk of falling below the official annual target of 4.5 percent

to 5 percent for a second straight quarter after decelerating sharply in April-June. Unless momentum improves in the coming months, policymakers are likely to face growing pressure to deploy additional stimulus. Beijing is starting to dial up fiscal policy after months of deep contraction in public spending. Still, reversing the decline in government expenditure and channeling the money into the broader economy may take time. The economy is also confronting external shocks that are widening the divergence among industries and complicating the policy outlook. Global oil prices have surged back above $100 a barrel as tensions in the Middle East intensify, squeezing downstream industries. Meanwhile, a boom in global demand for artificial intelligence-related electronics continues to drive double-digit growth in exports. An overhaul of real estate policy aimed at dismantling the country’s so-called pre-sale model is likely to weigh further on property investment and local government finances in the coming months. The measure essentially delays developers’ access to mortgages to strengthen protections for homebuyers, likely curbing builders’ appetite for expansion as the industry grapples with a prolonged liquidity squeeze. Property investment slumped 19.9 percent in the first eight months of this year from a year ago, deepening its decline. The urban jobless rate unexpectedly rose to 5.3 percent from 5.2 percent in July.

www.businessmirror.com.ph

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PHL NEEDS GLOBAL R.E. CAPITAL BUT FIRM ON CARBON SCORES By Manuel T. Cayon

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HE pathway toward greater utilization of renewable energy may require huge funding, specifically foreign, but the government is making it clear that while it welcomes international capital it will not “compromise carbon accounting integrity” pushed by advanced Western economies. Environment Secretary Juan Miguel T. Cuna, made clear this government position when it disclosed that there were seven current “clean development mechanism activities initiating transition, alongside 14 new mitigation activities” submitted to his department for prior consideration in enhancing renewable energy development. “The core principle remains firm: We welcome international capital, but we will not compromise carbon accounting integrity, double counting protections, or national rights.” He did not elaborate on this but among his calls to different sectors, like financial institutions and investors, he clarified that “we need capital that builds.” “Let us stop treating climate projects as high-risk anomalies; make green financing accessible, scalable, and non-debt creating. Work with us to co-create investible project portfolios under our Article 6 Frameworks,” he said. He appealed to development partners and international donors to help government and each other to fulfill their commitment to the Paris Agreement and for developed countries “to deliver the grant-based support, technology transfers and direct-

Luzon bears brunt of weak GDP growth on job market

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By Justine Xyrah Garcia

HE country’s weak first-half economic growth may be starting to weigh on the labor market, with Luzon bearing the brunt of the increase in joblessness, economists said. DENR Sec. Juan Miguel Cuna

loss-and-damage financing required to unlock our 68 percent conditional target.” He said the Philippines has committed to an ultimate low-carbon future but said, “it must extend beyond dialogue into structured, accountable execution to bridge the gap between climate ambition and realeconomy delivery.” “The Philippines has committed to a net emissions reduction and avoidance target of 75 percent for the period 2025 to 2035 against projected cumulative business-asusual emissions, Our national trajectory is unequivocably defined by low-carbon and climate-resilient development, firmly anchored in our enhanced 2026 nationally determined contribution (NDC),” he said. See “R.E. Capital,” A2

Wednesday, September 16, 2026 A9

Data obtained by the BusinessMirror from the Philippine Statistics Authority (PSA) showed that 1.96 million, or more than threefifths, of the country’s 3.14 million unemployed persons in July were in Luzon. This pushed Luzon’s unemployment rate to 6.5 percent, above the national rate of 6 percent and its highest level since January 2022. Excluding the pandemic years, the latest reading was also the highest since October 2018, when Luzon’s unemployment rate stood at 6 percent. The latest reading also marked a sharp increase from 4.9 percent in April and 5.5 percent in July last year. Ateneo de Manila University economist Ser K. Peña-Reyes said

the weakness in Luzon’s labor market could reflect the broader slowdown in economic activity, although the July labor data alone cannot establish a direct causal link. “Luzon’s large economic weight means a slowdown there can translate quickly into weaker hiring and layoffs,” Peña-Reyes told the BusinessMirror. Official data showed the economy grew by only 2.6 percent in the first half of 2026, well below the 5.4-percent growth recorded in the same period last year. Former Socioeconomic Planning Secretary Dante B. Canlas likewise pointed to Luzon’s outsized role in the economy, saying its estimated 68 percent share of GDP means employment is also heavily concen-

trated in the region. “Employment downward fluctuations brought on by the ongoing economic slowdown will also be the hardest in Luzon. Expect the firms concentrated in Luzon to lead workers’ layoffs as production slows down,” Canlas told this newspaper. The sectoral employment data showed that manufacturing accounted for the largest decline in employment nationally, shedding 3.43 million workers in July. Information and communication followed with a decline of 472,000 workers, while professional, scientific and technical activities lost 443,000 workers. Luzon accounted for much of the manufacturing decline, with employment in the sector falling to 2.31 million workers. Employment also declined in professional, scientific and technical activities by 335,000 and in information and communication by 373,000. For Peña-Reyes, the concentration of economic activity and employment in Luzon amplifies the labor-market impact of a nationwide slowdown. “This concentration is an advantage during strong growth, but cre-

ates greater exposure when investment, consumption or production weaken,” he said. The concentration is reflected in the distribution of the increase in unemployment. Luzon accounted for 413,486, or about 75 percent, of the 550,701 increase in unemployed persons nationwide between July 2025 and July 2026. By comparison, the Visayas recorded an increase of only 26,013 unemployed persons, while Mindanao posted an increase of 111,203. Their unemployment rates in July stood at 5.7 percent in the Visayas and 5 percent in Mindanao, both below Luzon’s 6.5 percent and the 6 percent national average.

Spatial-development problem

THE wide gap in unemployment across regions also highlights a longer-running issue in the country’s economic geography, according to De La Salle University economist Marites M. Tiongco. Metro Manila, in particular, posted an unemployment rate of 8.2 percent in July, the highest among all regions and considerably above the national rate. See “GDP,” A2

Hotel developers commit ₧387B despite rising costs and interest rates By Ma. Stella F. Arnaldo Special to the BusinessMirror

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FLOOD SCANDAL STIRS NEW PROTEST CALLS Youth leaders, along with members of sociocivic and religious groups, wear raincoats and carry umbrellas as they hold signs calling for answers over the massive flood-control scandal and demanding truth, justice and accountability during a press conference Tuesday, September 15, 2026, in Quezon City. The event comes ahead of the first anniversary of the Trillion-Peso March and the 54th anniversary of the declaration of Martial Law on September 21. NONOY LACZA

WTO appellate body in limbo as trade wars continue By Bless Aubrey Ogerio

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HE World Trade Organization’s (WTO) dispute-settlement system continues to operate without a functioning appellate body as trade tensions persist, leaving the Philippines and other members to rely on interim mechanisms to challenge trade measures while protectionist policies reshape global commerce. Based on the WTO’s 2026 annual report, members filed 13 requests for consultations in 2025, up from 10 in 2024, while three panel rulings were appealed to the Appellate Body, which remains unable to hear cases. The Philippines is among 31 WTO members participating in the Multi-Party Interim Appeal Arbitration Arrangement (MPIA), an alternative mechanism that allows participating members to pursue appeals through arbitration while the Appellate Body remains

inactive. The WTO said four original dispute panels were established in 2025, while five panel reports were circulated. Two reports were adopted by the Dispute Settlement Body and three were appealed to the Appellate Body. The increase in disputes comes as the country faces higher trade barriers in one of its major markets. Philippine goods entering the United States are currently subject to an additional 12.5-percent tariff under a United States (US) Section 301 action, adding to the trade-policy pressures facing exporters as the global trading system becomes more fragmented. The latest WTO figures underscore the continued demand for the dispute-settlement system even as its appellate stage remains unavailable. Since the WTO agreements took effect in 1995, members have initiated 644 disputes

under the Dispute Settlement Understanding by the end of 2025. Under the WTO system, members first seek consultations over measures they believe violate trade rules. If the dispute cannot be resolved, the complainant can request the establishment of a panel, whose ruling can normally be appealed. That final stage remains the key gap. The Appellate Body has been unable to function because it lacks the required number of members, preventing it from taking up appeals of panel rulings. The Philippines has previously backed efforts to restore the body, with Trade Undersecretary Allan Gepty describing it as the “jewel of the WTO” because a rules-based system requires a mechanism to enforce and resolve disputes. The country has turned to the MPIA as an interim option. The arrangement operates

under Article 25 of the WTO’s Dispute Settlement Understanding and provides participating members with an arbitration-based route for appeals. Two arbitration proceedings were completed in 2025, according to the WTO report. The MPIA participants at the end of 2025 included Australia, Brazil, Canada, China, Japan, Malaysia, Mexico, New Zealand, the Philippines, Singapore, the United Kingdom, Vietnam and the European Union, among others. Meanwhile, WTO members continued to pursue negotiated solutions. Two mutually agreed solutions were notified to the Dispute Settlement Body in 2025, while one complaint was withdrawn. The Philippines joined 38 other WTO members last year in affirming support for a “rulesbased, transparent and inclusive” trading system and exploring measures to restore a fully functioning dispute-settlement system.

OME P387 billion pesos are being poured into the hotel industry from 2026 to 2032, with many destinations in the countryside reaping the benefits. In a news briefing on Tuesday, Leechiu Property Consultants (LPC) Director for Hotels, Tourism, and Leisure Alfred Lay said the investments represent about 45,884 keys in the pipeline, “directly creating” 64,000 hotel jobs. “These developers have committed to building these hotels even though there’s been roughly a 30-percent increase in construction costs over the last two years, even though interest rates have dramatically increased [making] their funding costs significantly higher…developers are continuing to put their money where their mouths are,” he said. These findings are covered in the Philippine Accommodation Pipeline 2026 Report published by the Philippine Hotel Owners Association Inc. (PHOA) in partnership with LPC. While the National Capital Region will still receive the bulk of the new hotel capital at 11,130 keys, sizeable investments are going to other tourism hubs like the province of Cebu (8,482 keys in 29 properties), Boracay Island (3,678 keys in 14 properties), Panglao Island in Bohol (3,299 keys in 14 properties), and Clark in Pampanga (2,377 keys) in five properties.

Hotel openings in 2026, 2027

THIS year, 8,437 keys will be opening, notably Mandarin Oriental Manila in Makati, Hotel101 Cebu Mactan, I’Msignia Resort Boracay, and Plaza de Zamboanga-Dusit Collection. Next year, another 8,647 keys will open with The Ascott Limited accounting for 24 percent of the total international keys. Among its properties opening in 2027 are Citadines in Laguna, Davao, Cebu and Metro Manila. Lay noted that most of the new hotels that are being built are around key gateways such as Ninoy Aquino International Airport, Mactan-Cebu International Airport, Panglao Inter-

national Airport, and Clark International Airport. “So that informs us that we perhaps need more gateways in the country to open up additional investment destinations for the industry.” He also pointed to increasing investments in Baguio City (up 78 percent) and Clark, which were not among the top destinations in their previous pipeline report in 2024. The influx of investments in Baguio City is “due to the settlement of [ownership] issues surrounding Camp John Hay,” he added.

Just 30% of 2024 pipeline delivered

IN 2024, hotel investments from 2024 to 2026 were estimated at P250 billion, covering 20,509 keys. LPC reported that just under 6,000 keys were delivered on time. Of the total keys, 71 percent were opened or delayed by one-two years, but remain committed to these projects. (See, “Investors are putting up hotels, but where’s infra?” in the BusinessMirror, Sept. 18, 2024.) One-fourth of the planned supply was cancelled due to “financing failures, shifting market feasibility, missed residential presale benchmarks needed to trigger construction phases.” The good news is, in the last two years, “We’ve seen hotel operators starting to move into your tertiary, smaller towns around the country and the biggest beneficiary of that is Mindanao, with a 30-percent increase in commitment for hotel rooms in the region, not just in Davao, but you see them in Cagayan de Oro, Siargao or Zamboanga, and Samal as well,” he said. Meanwhile, Lay listed the top five international operators for the new hotels in the pipeline as: the Accor Group (4,472 keys); Radisson (4,052 keys); Marriot International (3,520 keys): Ascott (3,170 keys); and Dusit International (1,821 keys). Among the leading local developers were: DoubleDragon Corp. with 4,505 keys; Megaworld Corp. (3,176 keys); Henann Group (2,800 keys); Hann Resorts (2,650 keys); and SM Hotels and Conventions Corp. (2,554 keys); Ayala Land Inc. (2,206 keys); Anchor Land (2,130 keys). Of the total hotels in the pipeline, 71 percent are hotels at 32,666 keys, while the rest at 11,218 are condotels.

A10 Wednesday, September 16, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

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editorial

Palm oil volatility: Time to bet on local production

T

HE latest Food Price Index of the Food and Agriculture Organization of the United Nations (FAO) should serve as an impetus to Filipino policymakers who cannot seem to make up their mind about developing local palm plantations. In its latest report, FAO said its Vegetable Oil Price Index in August went up by 1.1 percent from July, reflecting higher world palm and soy oil prices. The UN agency said this was due to robust global import demand and concerns over the impact of El Niño-related conditions on production prospects in Southeast Asia.

Environmental group WWF noted that palm oil is in nearly everything that consumers can buy from stores—pizza, doughnuts, chocolate, deodorant, shampoo, toothpaste and lipstick. Palm oil is also used in animal feed and as a biofuel in many parts of the world. For a country that imports virtually all of its palm oil requirements, a slight movement in international prices would have a huge impact on industries that rely on palm oil. An uptick in imported palm oil quotations would also raise the production cost of local manufacturers. Geopolitics as well as erratic weather patterns, such as El Nino, could further add to the woes of local industries that make use of the edible vegetable oil. The US-Iran war, which erupted in late February, is contributing to the cost of delivering palm oil mainly due to the spike in fuel prices. The race to secure the supply required by importing countries as the holiday season approaches is also pushing up international quotations. Those advocating for the expansion of local palm plantations like tycoon Isidro A. Consunji know that raising domestic production of the vegetable oil is key to minimizing the adverse impact of volatility on Philippine factories. (See “Tycoon wants PHL to slash palm oil imports,” in the BusinessMirror, June 29, 2026). The DMCI executive said the country consumes 1.1 million metric tons of palm oil per year, with domestic production at a measly 100,000 metric tons, or 9 percent of local demand. The Philippines, he noted, spends about $1.5 billion a year just to buy its palm oil requirements from neighboring Southeast Asian countries like Indonesia and Malaysia—two of the world’s top producers of the vegetable oil. Consunji himself has ventured into the cultivation of palm oil via Sirawai Palm and Rubber Corp. (SPRC), which has launched a “plant now, pay later” scheme for Mindanao farmers. Farmers who will avail themselves of seedling and technical support from his company will start repaying when their trees start bearing fruit. SPRC chose Mindanao given the suitability of its soil for palm trees. Private sector initiatives, however, will not succeed if the government will not support them. Concerned agencies should therefore get the necessary funds that will enable them to jumpstart the Philippines’s march toward palm oil cultivation. The initial investment sought by the Department of Agriculture (DA) is a measly P300 million, which pales in comparison to the billions of pesos that went down the drain due to anomalous flood control projects. Even if the Philippines starts today, it cannot immediately reduce its reliance on palm oil imports as farmers would have to wait for five years before they can start earning from their crop. That is why it is imperative for both the government and the private sector to work together in laying the groundwork for a productive and profitable palm oil sector. Policymakers will have to give them the investments they need to achieve their production goals. Since 2005

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THE BUILDER

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UR government is working to make the Philippines more attractive to investors and entrepreneurs by cutting the number of permits needed to start a business. We should extend that same courtesy to the millions of Filipino professionals, who practice their careers to serve the public every day. This is why I filed Senate Bill No. 2391 or the “PRC ID 5-Year Validity Act,” which aims to help Filipino professionals who have to renew their Professional Regulation Commission (PRC) cards every three years. If approved, doctors, nurses, teachers, engineers, accountants and other licensed professionals in the country would only need to renew every five years under our proposal. I believe our professionals already carry enough burden. They spend years studying, training and passing exams just to practice their profession. The last thing they need is a bureaucratic process that forces them to stop, pay up and do paperwork again every three years for the job they have already qualified to do. We need to support the career of our professionals, especially as we cross the upper-middle-income country (UMIC) status. Our growing

economy requires the skills of more professionals. Every three years, a professional has to gather documents, meet continuing education requirements where these apply, take time off work and often travel to a PRC office or service center to finish the process. This means lost income and opportunity, transportation costs and hours spent in line, on top of the renewal fee itself. With more than 5.8 million professionals registered under 65 PRC-regulated professions, the PRC system is constantly overloaded. The PRC has limited establishments to handle all of this, with only one central office, 14 regional branches, 21 satellite centers and four desks inside One-Stop Service Centers for overseas Filipino workers. With everyone renewing every three years, these offices are almost always busy with repeat transac-

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tions, instead of other frontline services people need. If we stretch the renewal period to five years, fewer people would need to visit these offices. That means shorter queues, more manageable schedules and offices that are not constantly buried in repeat paperwork. It would also give the PRC breathing room to improve how appointments work and fix gaps in service during slow periods. More importantly, our professionals will find it more comfortable and rewarding. Under our proposed bill, every PRC identification card would be valid for five years instead of three, as long as the professional still meets the usual legal and procedural requiremßents. I also included a provision requiring the PRC’s information technology office to upgrade its systems, including the Licensure Examination Registration Information System, so this works smoothly on the ground. The bill also requires the PRC to update the schedule of annual registration fees within six months of the law taking effect. Our proposal does not remove any of the requirements professionals should meet to stay licensed, nor does it lower standards. It simply spaces out how often people have to go through the renewal process, so professionals can spend less time on repeat transactions and more time on their actual work.

This means they will have more time for their careers. Every hour not spent in a queue and every peso not spent on repeat fees is an hour and a peso that a nurse, teacher or engineer can put back into their career, their family or the people they serve. This is not a small thing when you consider how many Filipinos are affected. The House of Representatives has already passed its own version of this bill. I am hopeful the Senate will act on it soon as well. Our professionals keep hospitals running, classrooms open, businesses thriving and infrastructure functioning across the country. The least we can do is make it easier for them to hold on to the credentials they worked so hard to earn. Renewal should confirm that their skills remain current, not force them to navigate long lines, duplicate paperwork and confusing requirements just to keep working legally. Streamlining the renewal process allows professionals spend more time serving patients, students and clients, and less time on administrative burdens. While extending the PRC ID from three years to five years is a small change on paper, it would mean major comfort for millions of professionals who just want to keep working and serving our nation. For feedback e-mail to senatormarkvillar@ gmail.com or visit our web site: https://markvillar. com.ph

Filipiñana: Golf as metaphor for societal inequalities

Lourdes M. Fernandez

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Amicus Curiae

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ELL is a Golf Course!” The phrase used by New York Times in describing “Filipiñana,” a 2026 black comedy satirical drama film on golf course that explores the Philippines’s deep divides over land and class. I saw “Filipiñana” as the closing film of the 22nd Cinemalaya Philippine Independent Film Festival last August 16, 2026. Directed by Rafael Manuel, the movie follows Isabel (Jorrybell Agoto), a 17-year-old from the rural Ilocos who starts working as a “tee-girl” on a sweltering, drought-stricken golf course at a posh country club outside Manila. A “tee girl” is a worker who lines up balls at the driving range. Elite club members—including wealthy industrialists, powerful politicians, and foreign tourists— engage in a tense, complex dance of privilege

catered to by a subservient staff. When Isabel tries to return a mislaid golf club to the club’s patriarchal director, Dr. Palanca (Teroy Guzman), she is drawn deeper into the exclusive corners of the resort, uncovering the violent truths rotting beneath its pristine fairways. It is a microcosm and sharp metaphor for post-colonial class disparities, institutional power, and societal inequalities. With its manicured grass, water sprinklers, electronic carts, a golf course is a perfect symbol of the privileged elite. Caddies carry players’ bags and

are told that the available drinking water is reserved for guests, even as sprinklers continue turning across the grounds. “It’s a good metaphor for the country in that it’s very large and situated on a very fertile plot of land that’s toiled on and worked on by so many people, but ultimately enjoyed and profited from by only a select few,” Manuel said in an interview. The slow pacing is closely linked with the heat that explains “why political change in the Philippines is so slow to come by.” “I feel like the heat plays a big part of it, because it paralyzes you, and it’s so hard to act, like even just like personal acts, much less bigger political acts,” Manuel said. It had international premieres at the Berlin International Film Festival and the 2026 Sundance Film Festival. It won the Special Jury Award for Creative Vision in the World Cinema Dramatic Competition in Sundance. The jury citation stated: “With stunning visual command and sensibility to the setting, the filmmaker thoughtfully evokes where characters languish. Through its static form, the filmmaker highlights insidious ten-

sion between luxury and labor.” “Filipiñana” is sometimes compared with the 1982 cinematic masterpiece “Oro, Plata, Mata” by Peque Gallaga. Early scenes show characters playing golf, gossiping, and indulging in high-society games while completely detached from the impending war. Gallaga used golf as a prominent visual symbol to showcase the carefree, bourgeoisie excesses of the wealthy haciendero families right before the grim realities of World War II disrupt their lives. “Oro, plata, mata” is a traditional Filipino architectural superstition where elements like staircase steps should not end on a multiple of three (the “Mata” or death step) to avoid bad luck. When metaphorically applied to golf, it maps out the stages of a round or a golfer’s status. Just like counting steps, points, holes, or specific bets are tracked in sequences of three: 1 (Oro- Win/Good), 2 (Plata-Neutral/ Tie), and 3 (Mata-Loss/Bad Luck). Players aim to structure their wagers or match phases so that their score or press does not land on the fatal third See “Gorecho,” A11

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Who counts? From Biak-na-Bato to the impeachment court

Opinion BusinessMirror

The sound of silence: When the DTI-BPS chose indifference over consumer safety

By Pablo S. Trillana III

O

N September 16, retired Chief Justices Artemio Panganiban and Reynato Puno and retired Associate Justice Adolfo Azcuna will assist the Senate Impeachment Court as amici curiae; retired Chief Justice Hilario Davide Jr. will submit a legal memorandum. They will address this question: what number of Senate votes is required for conviction in the impeachment proceedings involving Vice President Sara Duterte?

The matter came before the Court through Senator-Judge Erwin Tulfo’s appeal seeking a definitive interpretation of Presiding Officer Francis Escudero’s ruling that conviction requires 16 votes. His concern is whether senators unable to participate should still be counted in computing the constitutional two-thirds. The Constitution provides for 24 senators. Two-thirds is 16. The harder question: two-thirds of what—24, or only those legally able to sit, hear and vote? This is not a new Filipino question. At Biak-na-Bato on November 1, 1897, Article XI of the revolutionary Constitution spoke of “definite vacancies” caused by death, resignation or other legal causes. The phrase is suggestive: inability to act is not necessarily the same as legally ceasing to hold office. The Malolos Constitution of 1899 allowed the Assembly to repass legislation by two-thirds of members “present in a quorum.” The 1787 United States Constitution likewise requires two-thirds of the “Members present” to convict in impeachment. Presence can change the number required. On October 20, 1934, a Constitutional Convention subcommittee proposed a rule requiring two-thirds of Senate members present. We cannot say the framers deliberately rejected it; only that the formulation was known and proposed. The final 1935 Constitution did not use it. The original unicameral charter required three-fourths of all National Assembly members outside the Commission on Impeachment. When bicameral Congress was restored in 1940, conviction required three-fourths of all Senate members. The wartime 1943 Constitution also required three-fourths of all Supreme Court Justices to convict. The 1973 Constitution created a unicameral National Assembly with exclusive power to initiate, try and decide impeachment. One-fifth of all its Members could initiate; conviction required at least two-thirds of all Members of that Assembly. The 1987 Constitution restored bicameral Congress and Senate impeachment trials, again requiring two-thirds of “all the Members of the Senate.” Fractions changed. Institutions changed. The question endured. Jurisprudence carried the conversation forward. In Mabanag v. Lopez Vito (March 5, 1947), Congress was determining whether it had the required threefourths vote to propose the Parity Amendment to the people. Three senators had been suspended and eight representatives excluded from sitting. If they were counted as members, 18 Senate votes were required but only 16 were cast; in the House, 72 were required but only 68 were cast. The Supreme Court dismissed the petition without deciding that membership question. Justice Pedro Tuason’s majority treated the amendment proposal as a political question and, under the then-prevailing enrolled-resolution rule, treated the authenticated congressional resolution as conclusive and declined to look behind it. The separate opinions confronted what the majority left open: Justice Hilado reasoned that suspended or disqualified members unable to vote should not be counted; Justice Gregorio Perfecto maintained that suspension did not erase membership. Capacity to participate confronted continuing membership. Avelino v. Cuenco followed in March 1949. The issue was quorum—the minimum needed be-

fore the Senate can validly act. On March 4, the Court denied Senator Jose Avelino’s petition, principally treating the Senate presidency controversy as political. Four Justices nevertheless reasoned that Senator Tomas Confesor, then in the United States and beyond the Senate’s coercive reach, could be excluded, making 12 a majority of 23. Chief Justice Manuel Moran disagreed: 24 senators required 13. On reconsideration on March 14, a seven-Justice majority assumed jurisdiction and held that a quorum existed and Mariano Cuenco had been legally elected Senate President. Importantly, the four-Justice reasoning distinguished “a majority of each House” from “all the members.” Avelino thus supports flexibility in quorum, but is not a square holding on an impeachment vote based on all Members. Bayan v. Zamora added another piece in 2000. Only 23 senators were incumbent because Gloria Macapagal-Arroyo had been elected Vice President in 1998, leaving her Senate seat vacant. The Supreme Court dismissed the challenges and upheld the Visiting Forces Agreement. It began with the Constitution’s 24-member Senate and stated that two-thirds meant “not less than sixteen” affirmative votes. In fact, 18 senators voted to concur. But Bayan did not have to decide what happens when the number falls enough to change the arithmetic. With 23 senators, two-thirds still requires 16; with 22, it would be 15. Bayan therefore illuminates the use of 16 without deciding whether 15 could suffice if membership fell to 22. Senate practice adds another layer. During the Corona impeachment, Senate President Juan Ponce Enrile said in December 2011 that 16 would still be required even if membership fell to 22, 20 or 17. In January 2012, Senator Francis Escudero independently took substantially the same position. These were not Supreme Court rulings, but they form part of Senate impeachment history and show that Escudero’s present interpretation predates this controversy. Today two members of the 1986 Constitutional Commission frame the competing philosophies. Rene Sarmiento begins with the Senate’s duty “to try and decide”: judgment, he argues, requires actual participation. His question is: who can actually try and decide? Adolfo Azcuna begins with “all the Members of the Senate.” Detention, suspension or temporary inability to participate, he argues, does not reduce the required number while the person remains legally a senator. His question is: who still belongs among all the Members? Neither position is frivolous. One emphasizes a functioning impeachment court whose judges participate; the other, continuing legal membership and the Constitution’s deliberate use of “all.” On September 16, the amici will add their voices. Let history be heard—not simply as another partisan contest, but as part of a constitutional conversation Filipinos have carried across generations. We should listen not merely for 14, 15 or 16, but for the constitutional idea behind the number. For that, too, is how a people take part in the life of their Constitution. Dr. Pablo S. Trillana III is the former chair of the National Historical Institute, which is now the National Historical Commission of the Philippines. He is a distinguished historian who has also served as the president of the Philippine Historical Association.

Wednesday, September 16, 2026 A11

Dr. Jesus Lim Arranza

MAKE SENSE

T

HERE comes a moment in every advocate’s journey when you realize that the fight for public good is not merely against ignorance or greed, but sometimes against the very institutions meant to be your allies. As Chairman Emeritus of the Federation of Philippine Industries, I have spent decades believing in the power of collaboration—industry working hand-in-hand with government to build a safer, stronger Philippines. But recently, I encountered something that shook that faith to its core: a government agency that had been given the opportunity to protect millions of Filipinos, and chose instead to offer nothing more than a polite shrug.

For six years, the Philippines has operated without established quality standards for flat glass. Let that sink in. Six years. In a country that sits astride the Pacific Ring of Fire, that welcomes approximately 20 typhoons annually, that has witnessed firsthand how substandard construction materials become instruments of death during earthquakes—we have had no enforceable standards for one of the most fundamental building materials in modern construction. And why? Not because regulators were asleep at the wheel. Not because the science was unclear. But because two regional trial courts issued temporary restraining orders that froze the government’s ability to protect its own citizens. This is not bureaucracy as usual. This is a national embarrassment that borders on criminal negligence. When flat glass shatters without warning, when counterfeit steel bars buckle under stress, when substandard concrete crumbles during a tremor, the results are not abstract policy failures. They are coffins. They are orphaned children. They are families made homeless in an instant because someone prioritized profit over human life. The Federation of Philippine Industries did what we believed was our duty. We drafted a letter-petition to the Supreme Court, urging the adoption of a procedural safeguard

already applied to environmental cases: that no lower court should have the power to issue temporary restraining orders against lawful government actions enforcing mandatory product standards. Only the Supreme Court itself should possess that authority. This is not radical. This is not anti-business. This is common sense protection against a system that has been weaponized by non-compliant traders who have learned to forum-shop their way around consumer safety. We argued—passionately, I thought persuasively—that the harm from substandard products can be “sudden, widespread, and fatal.” We pointed out the absurdity of a system where regulators invest months or years in technical study and consultation, only to see their work nullified by a single regional trial judge whose courtroom happens to be convenient to an importer of dangerous goods. We made the case that the state has a clear duty under Republic Act 7394, the Consumer Act of the Philippines, to shield citizens from hazards to health and safety. And the Supreme Court listened. They directed the Department of Trade and Industry and the Food and Drug Administration to submit comments on our petition. This was the moment we had been waiting for—the chance for the DTI to stand shoulder-to-shoulder with

industry, to declare that six years of judicial obstruction was six years too many, to demand that the loophole be closed and flat glass standards finally enforced. Instead, we received a masterclass in bureaucratic cowardice from the DTI-Fair Trade Group. “While recognizing and appreciating the initiative of FPI as expressed in its Letter Petition,” the Supervising Head of the DTI-Fair Trade Group wrote, “the Department remains committed to faithfully perform its duties within the bounds of its legal authority. At the same time, the Department respectfully defers to the sound discretion and wisdom of this Honorable Court with respect to the matters raised in the present Petition.” My goodness. Where is the outrage? Where is the urgency? Where is the recognition that for six years, consumers have been left unprotected because trial courts have tied the hands of regulators? The DTI was handed a golden opportunity on a silver platter—a chance to tell the Supreme Court that enough is enough, that the current system is broken, that Filipinos deserve construction materials that will not kill them when the next earthquake strikes. And they chose to say... nothing. Worse than nothing. They chose to “defer.” I am baffled. I am disappointed. And if I am being honest, I am angry. We at the Federation of Philippine Industries are not the enemy here. We are not trying to make life difficult for regulators. We are trying to make it possible for them to do their jobs. We have watched importers exploit the judicial system, flooding courts with petitions designed not to protect legitimate rights but to evade accountability. We have seen the consequences of substandard materials in disasters past. We know what happens when glass shatters and steel fails and concrete turns to dust. We are trying to help the DTI help the Filipino people. But they do not seem to want our help. They do not seem to appreciate that we are fighting for the same thing—consumer safety,

public welfare, a built environment that will not betray its occupants in their moment of greatest need. The FDA, at least, had the courtesy to ask for more time. The DTI-Fair Trade Group had the opportunity to be a champion for consumers, and instead they offered platitudes about “legal authority” and deference to the Court’s “wisdom.” The wisdom of the Court is not in question. What is in question is whether the DTI-Fair Trade Group has the courage to stand up and say that the current system is broken, that six years without flat glass standards is a national disgrace, and that the time for procedural safeguards is now. When the next typhoon comes— and it will come—and when the windows of some poorly constructed building shatter and send glass flying into a nursery or a classroom or a hospital ward, remember this moment. Remember that the Federation of Philippine Industries tried to close the loophole. Remember that we petitioned the Supreme Court. And remember that when the DTI-Fair Trade Group had the chance to stand with us, they chose to stand aside. I expected better. The Filipino people deserve better. And I will not stop saying so until someone in the halls of the DTI-Fair Trade Group remembers why they took the job in the first place: not to defer, not to equivocate, but to protect. Far from burning bridges, the Federation of Philippine Industries is committed to building a stronger, more collaborative relationship with the DTI-Fair Trade Group. The FPI remains eager to foster a harmonious working relationship with the agency. As it enforces quality standards, we welcome the opportunity to work together in combating substandard products and illicit trade. This joint effort aligns directly with President Marcos’ objective of positioning the Philippines as a preferred destination for long-term business investment. Dr. Jesus Lim Arranza is the Chairman Emeritus of the Federation of Philippine Industries and concurrent Chairman of the Anti-Smuggling and AntiIllicit Trade Committee.

Prabowo’s economic team reset leaves investors wanting more By Ruth Carson, Prima Wirayani & Abhishek Vishnoi

P

RESIDENT Prabowo Subianto’s economic team overhaul is seen by investors as an acknowledgment that his policies have come at a cost and a signal of a return to more stable policymaking. By replacing Finance Minister Purbaya Yudhi Sadewa with Suahasil Nazara on Monday, after a similarly sudden leadership change at the central bank, Indonesia has moved to steady two institutions central to investors after months of concern over the direction of economic policy. Markets showed some initial relief, with Indonesian equities erasing losses and bond yields holding steady. Stocks fell with regional peers on Tuesday amid inflation worries while the rupiah was little changed. Investors and analysts say the personnel changes, while encouraging, aren’t enough to address concerns that have driven about $1.9 billion in capital outflows from Indonesia this year. The announcements show “there are consequences to the policy prescription over the past 18 to 24 months,” said George Boubouras, head of research, investments and advisory at hedge fund K2 Asset Management. The new appointees “have good CVs” and what markets need is “more open, transparent and credible policy,” he added.

Gorecho. . .

continued from A10

slot (“Mata”). Golf came to the Philippines in 1886, introduced by British railway workers during the final years of Spanish colonial rule. It took root quietly among the expatriate community and the Filipino elite, and over the following century grew into one of the most golf-mad

Indonesia’s markets have taken a beating this year—with its stock index still the world’s worst performer—as Prabowo’s interventionist agenda, the Iran war and fears of an index downgrade to frontier status hammered investor confidence. The rupiah slumped and foreign investors fled, a dramatic turn for a commodities-rich nation long a staple of emerging-market portfolios. Some of that damage has since been repaired. An off-cycle rate hike by Bank Indonesia and signals of policy continuity from new Governor Destry Damayanti helped spark a rebound. The rupiah has appreciated around 3 percent from June’s record low, foreign funds have bought local bonds for four straight months and the Jakarta Composite Index has entered a technical bull market. Indonesia’s challenges are also part of a broader global trend of rising debt, deficits and borrowing costs. That gives investors more choices about where to put their money, making it all the more important to keep them onside. “The Prabowo administration needs to continue to address investor concerns if they’re going to have any credibility with the financial community,” said Steven Grey, chief investment officer at hedge fund Grey Value Management in the US. “Investors would take the appointment of Nazara as more of a positive if he wasn’t Indonesia’s third finance minister in under two years.”

countries in Southeast Asia. The game transforms large expanses of land into private recreation, requiring water and continuous labor to preserve their green surfaces. Country clubs historically serve as informal settings where business executives, public servants, and politicians meet. Critics view golf courses in arid or ecologically fragile regions as extractive industries with excessive water consumption, chemical pollu-

Nazara brings a familiar face back to the top of economic policymaking. He has spent seven years as deputy finance minister—first under former President Joko Widodo and then under Prabowo—and served under Sri Mulyani Indrawati, the widely respected former finance minister whose ouster in September 2025 rattled investor confidence in Indonesia’s fiscal direction. His challenge is the same one faced by his predecessors: financing the president’s growth ambitions and expensive social programs, as well as navigating Prabowo’s control over the country’s new sovereign wealth fund, without undermining fiscal discipline. That will require preserving credibility, while shifting spending away from programs that some economist see as having limited payoff. “Suahasil’s appointment at least eliminates concerns that this strategic position will fall to a politician or a person that is unfamiliar for the markets,” said Liza Camelia Suryanata, head of research at PT Kiwoom Sekuritas Indonesia. Still, investors will watch how he acts in the role, how independently he operates and how he navigates the government’s political agenda. “Don’t call Suahasil ‘SMI 2.0’ yet,” she added, referring to Indrawati.

Overseas funds

FOR some overseas fund managers, Nazara’s appointment removes a key source

tion, and ecological disruption while greenwashing their environmental impact through modern ecological stewardship claims. In Proclamation No. 803, former President Fidel Ramos described golf courses as Environmentally Critical Projects (ECPs) that “may result in the disturbance of the environment and the ecology, utilization of vast amounts of water and other scarce natural resources, withdrawal of lands from agricul-

of uncertainty. Mark Nash, a Londonbased money manager at Jupiter Asset Management, bought the rupiah after Bank Indonesia’s rate hike in June and said he would look to buy more of the currency on the news. “The new finance minister is a known quantity, so markets are on board with it,” Nash said. “The drama of the past looks likely to end. The rate hikes were good, and now this. It’s supportive for Indonesia bonds, and the currency.” Others want more proof. James Athey, a money manager at Marlborough Investment Management Ltd. who has stayed out of Indonesian bonds, said investors will need more than new faces after months of policy volatility. “It’s likely that investors want to see more than just personnel changes before they feel comfortable getting back in any sort of size,” he said. “For now I would still be cautious about Prabowo’s policies.” Describing Nazara as a “safe pair of hands,” Gary Dugan, CEO of Dubaibased multi-family office Global CIO Office, said banks should benefit if investors see the appointment as a positive move, though consumer stocks may struggle if growth slows. Still, the change isn’t enough for him to cover his short position. “We will wait for proof that the fiscal situation is under control,” he said. With assistance from Bernadette Toh and Karl Lester M. Yap/Bloomberg

tural production, application of harmful chemicals and substances, and disposal of waste products into the environment.” Filipiñana has been selected as the Philippines’s official entry for Best International Feature Film at the 99th Academy Awards (2027 Oscars). 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.

Sports BusinessMirror

A12 Wednesday, September 16, 2026

Alas Pilipinas Women tackle defending champion China

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AGOYA, Japan—The mission to match the impressive fourth-place finish by the 1962 Philippine team starts Wednesday as the Alas Pilipinas Women take on a towering Chinese squad at the start of the volleyball competitions in the Aichi-Nagoya 20th Asian Games. The match is set at 1 p.m. (Manila time), with the Nationals needing a divine intervention if they are to tear down the “Great Wall” at the Park Arena Komaki. For one, the Chinese are eager to redeem themselves after losing to Thailand in the recent Asian Volleyball Confederation Continental Cup in Tianjin, China. Their heartbreaking 20-25, 25-11, 25-23, 18-25, 10-15 defeat to the Thais is expected to give them extra motivation to extend their reign in the continental showpiece. The Chinese have lorded over the

Games the past nine editions and in this year’s Games, they want nothing less than another gold to make up for their loss in the Continental Cup. The Nationals, including their Japanese coach Taka Minowa, are confident they can give the Chinese a scare, although beating them is another story. “We are mentally ready to face the Chinese. We’ll try our very best,” said Minowa, accompanied by Filipina wife JaJa Santiago. Hopefully, the Nationals won’t suffer the fate as Gilas Pilipinas, whom the Chinese manhandled by 44 points (105-61) to send the defending champions home on Monday. If the Nationals lose to China, they must beat Kazakhstan on Thursday to advance to the quarterfinals and get a chance of matching the remarkable fourth place finish by the 1962 team. POC Media Pool

ASIAN Volleyball Confederation president Ramon “Tats” Suzara pays the Alas Women ahead of their match against China at the Park Arena Komaki in Nagoya on Tuesday. They are (from left, front row) assistant coach Juvie Mangaring, Marionne Alba, Justine Jazareno, head coach Takayuki Minowa, Jia De Guzman, Eya Laure, Shaina Nitura, Bella Belen, assistant coach Karlo Santos and physical therapist Krish Torres and (from left, back) Amie Provido, Angel Canino, Thea Gagate, Alyssa Solomon, Nina Ytang and Dell Palomata. POC MEDIA PHOTO

PVL, Spikers’ Turf renew deal with Cignal for another 3 years

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IGNAL has renewed its partnership with the Premier Volleyball League (PVL) and Spikers’ Turf for another three years, paving the way for more memorable moments and greater growth for volleyball in the Philippines. Under this agreement, the PVL and Spikers’ Turf will be available to fans through One Sports and One Sports+. Over the past five years, the PVL partnership has delivered 15 conferences filled with thrilling matches, breakthrough performances, and timeless rivalries that have captivated volleyball fans across the country. Spikers’ Turf, meanwhile, marks a decade of growth and has played a key role in providing opportunities for male volleyball players and helping strengthen the sport’s ecosystem. “Cignal has been a tremendous partner in helping the PVL and the Spikers’ Turf reach more fans and elevate the sport to greater heights,” said Sports Vision Management Inc. president Ricky

Palou. “Their commitment to volleyball has been instrumental to our growth, and we are excited to continue working together for the next three years.” “Together, we look forward to bringing more exciting matches to Filipino fans while helping grow volleyball even more in the Philippines,” he added. For Cignal, this partnership underscores the increasing prominence of both leagues within the local sports landscape and reinforces their capacity to broaden volleyball’s reach and audience engagement. “Over the years, the PVL has established itself as one of the best leagues in the Philippines,” said Cignal Officer-in-Charge and Chief Financial Officer Christopher Lizo. “It brings communities together, inspires young athletes, and consistently delivers world-class competition.” Also signing the partnership are Cignal TV Inc., Vice President for Sports Business Development and Spikers’ Turf Tournament Director Mozzy Ravena.

CIGNAL Officer-in-Charge and Chief Financial Officer Christopher Lizo and Premier Volleyball League President Ricky Palou (second and third from left) with Cignal TV Inc., Vice President for Sports Business Development and Spikers’ Turf Tournament Director Mozzy Ravena. PVL PHOTO

MARCIAL: IT HURTS SO MUCH

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AGOYA, Japan— Commissioner Willie Marcial of the Philippine Basketball Association (PBA) is feeling the pain of the lopsided loss to China in the Aichi-Nagoya 20th Asian Games. Samahang Basketbol ng Pilipinas (SBP) Executive Director Erika Dy, on the other end, offered no excuses for the 61-105 humiliation that sent the reigning gold medalist Gilas Pilipinas home. “It pains me, it hurts so much, specially to the players,” said Marcial who was in Nagoya with PBA governors to cheer for the team that could only get one win—against Kazakhstan—in three Group C games. “It was like a massacre, it’s as if someone died,” he added. As criticism and bashes came incessantly in social media, Marcial stood at the forefront in the players’ defense. “What can our players do? They went up against giants—plus shooters,” he said.

COMMISSIONER Willie Marcial feels like someone just died after a massacre in Nagoya. PBA IMAGES

Marcial reiterated how prepared the Chinese are for these games. “They beat hard Bahrain which has four naturalized players,” he said. Bahrain suffered more than the Philippines as it absorbed a 46-point loss, 59-105, and so did Kazakhstan, 99-61.

SBP looking for ‘sweet spot’

THE SBP offered no excuses for the country’s worst ever ninthplace finish in Asian Games men’s basketball tournament. SBP executive director Erika Dy told BusinessMirror on Tuesday that the federation was aware of all possibilities the moment they formed the team for the Asian Games 40 days ago. The blueprint had Justin Brownlee and Benny Boatwright but neither became available. Brownlee hasn’t fully recovered from injuries while Boatwright’s naturalization has yet to be completed, prompting the SBP, Dy said, to seek PBA

support and players who’re not bound by commitments in overseas leagues. “But we could have done much better in the planning, preparations and execution of our men’s Gilas team’s campaign to defend the crown in the Asian Games,” Dy said. “The good thing is that the next Asian Games don’t come until five years ahead.” Doha is hosting the games in 2031, and not in 2030, because the Olympic Council of Asia revised the quadrennial multi-sports competition schedule to odd number years immediately ahead of the Summer Olympics. “We have come to think this through, improve and set a long term program that serves all competitions we take part in,” she said. “We offer no excuses as there shouldn’t be, but instead we go back to the drawing board to look for a solution on how we can come up with a very competitive team every time the Asian Games comes along, without sacrificing our campaign in our IF’s own continental and World Cup championships,” she said. “There should be a way to be competitive in both and we will find that sweet spot,” she added. The Philippines ruled the Asian Games in 1951, 1954, 1958, 1962 and 2023 to rank second behind China with eight titles and ahead of South Korea with four gold medals. A Chot Reyes-coached Gilas Pilipinas that was coming off a FIBA World Cup stint also didn’t advance to the quarterfinals of the Incheon 2014 Games, but after that, Yeng Guiao steered a Jordan Clarkson-reinforced squad to fifth place in Jakarta 2018.

POC Media Pool and Josef Ramos

All hands on deck for Eala’s Asiad bid P

HILIPPINE sports officials are standing firm behind tennis sensation Alex Eala’s participation in the Aichi-Nagoya 20th Asian Games amid potential sanctions from the Women’s Tennis Association (WTA). Eala stands to lose points that could possibly stall her goal of breaking the top 10 in the world rankings for skipping a WTA1000 event, the China Open, in favor of the Asian Games where she aims to win the gold medal. Philippine Olympic Committee (POC) president Abraham Tolentino and Philippine Sports Commission (PSC) chairman Patrick Gregorio both said on Tuesday that Eala seeing action in Nagoya purely shows her patriotic heart. “We can always say that Alex Eala is giving back to her country, to the support Filipinos in the country and where ever she competes, they

have amazingly established that global ‘Eala Mania,’” Tolentino said. “The WTA has its rules and breaking the rules has penalties,” Tolentino said. “But Alex will be in Nagoya, for flag and country.” “This is for the country, and this is clear in Alex’s mind and heart,” Gregorio said. Eala clinched the bronze medal behind two Chinese in Hangzhou 2022 (2023) and winning gold in Nagoya would be the country’s first in the sport Johnny Jose ruled the men’s singles in the 1962 Jakarta games.

Salvador nails win for JRU

Sean Salvador (1) is mobbed by his teammates after lifted Jose Rizal University past Mapua, 65-64, in Group A men’s basketball action of the National Collegiate Athletic Association Season 102 at San Juan Arena on Monday. Salvador nails the go-ahead triple for the win with 2.2 seconds remaining. NCAA PHOTO

Eala gearing up for gold medal in Nagoya IN just a few days, Alex Eala returns to action again. She will plunge into the Singapore Open that begins on September 21 and ends on September 27. It is another elite women’s tennis event as the Singapore bash is also expected to feature big names like Jessica Pegula of the United States, who remains No. 3 in the world. Pegula was denied a finals appearance in the just-ended US Open when she got dismissed in the semifinals by world No. 1 Aryna Sabalenka of Belarus in straight sets, 7-5, 6-2. Eala now considers herself well-rested and should have absolutely put behind that painful loss to Iva Jovic in the third round of the US Open. Painful because Eala, 21, had blown handsome chances of beating Jovic, her 18-year-old bosom friend from the US. After yielding a 5-7 defeat in the first set, Eala

The Philippines had two players at 6-foot-8 for an average team height of 6-foot-4, whole China paraded a 7-foot-3 center and has an average ceiling of 6-foot-8. “Everyone in the team had their heads stopped so low that I didn’t feel like looking at them,” he said in describing the mood inside the dugout after Monday’s moss. “I felt pity all over…but I salute them for the sacrifices they made and their willingness to serve the country.” He stressed: “China came prepared and made sure they win…by a big margin.” The Philippines, behind naturalized player Justin Brownlee didn’t recover in time from injuries and missed Nagoya, eliminated host China, 77-76, in the Hangzhou 2022 (2023) Asian Games in the semifinals and right in front of their NBA great Yao Ming. He requested the public not to further slam the players when they arrive home Wednesday.

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

gallantly levelled the match at 1-1, winning the second set via a decisive 6-3 result to build immense momentum going into the third and final frame. Eala surged decisively ahead twice in the winner-take-all set at 2-0 and 4-2 but, alas, she wasted the opportunities both times. The 4-2 lead was the hurtful one because Eala had built break-point twice—only to falter each time

PHILIPPINE Olympic Committee president Abraham Tolentino (center) and Philippine Sports Commission chairman Patrick Gregorio (right) are all behind Alex Eala’s smooth campaign in the Asian Games. POC, PSC AND AP PHOTOS “We admire and support her 100 percent,” Gregorio said. “Alex is the epitome of a world-class Filipino athlete, she’s a model— always fighting for flag and counry.” Besides ranking points, Eala faces a fine of $10,000 if she skips the star-studded China Open in Beijing—a WTA1000 event is mandatory for players ranked 30th and below. Asian Games tennis that starts September 27 at the Higashiyama

Black Bulls, Steel defeat MPBL foes to flub what would have been an imposing 5-2 lead, which could meant she was just a game away from advancing to the fourth round. Very doable from there. Instead, it was Jovic who hopped into the next round, mightily taking advantage of Eala’s unforced errors to eke out an epic 7-5 win in wrapping up the match. Unfortunately for Jovic, she found her match in fellow American Coco Gauff, who gave her a 6-1, 6-4 thrashing. Eala had said repeatedly she had learned her lessons and resolved to move on armed with the vast experiences she had gained the past eight months, including the brilliance of her breakthrough win in the Mubadala DC Open in Washington last August. From Singapore, Eala will fly to Nagoya, Japan, to seek a first ever Asian Games gold—not only for herself but for the country as well. Tennis matches in the Asiad do not begin until September 27. But Eala’s hectic schedule—again—will be adjusted in order for her to get to the Games in time. On paper, Eala’s chances look bright as her two chief rivals for the Asiad gold are absent—Naomi

Osaka and Zheng Qinwen. Osaka, from Japan, and Qinwen, the defending Asiad champion from China, have elected to play in the Beijing Open whose playdates collided with the Games’ schedule. Despite the “Eala Mania” sweeping Eala’s dizzying atmosphere, the tennis ace has been exhibiting high-class demeanor and an exceedingly cordial, if not infectious, attitude. Yes, the diamond in the rough is now a fullfledged gem of a stone. THAT’S IT I commend the decision of the University Athletic Association of the Philippines (UAAP) not to suspend the Ateneo Blue Eagles from joining this year’s UAAP basketball tournament. This will tremendously help in the healing process of the team still stigmatized by the death of their two players from a tragic drowning incident a while back arising from a punishing, if not risky, training activity in Aurora province. It’d be nice if the team would resolve to dedicate their games to their fallen teammates.

Park Tennis Center in Nagoya runs conflict to the China Open in Beijing set September 30 to October 11. Eala’s handlers appealed to the WTA for her exemption from the China Open and are hoping for the best. Indonesia’s Janice Tjen, also a pretournament favorite, already pulled out of the Asian Games after the WTA denied her request for exemption from the China Open. Gregorio said the PSC is heeding the call of Senators Christopher “Bong” Go and Erwin Tulfo to support Eala and ensure a positive outcome.

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HE Quezon City Black Bulls and Basilan Steel beat separate rivals on Tuesday to gain momentum heading to the play-in of the SportsPlus Maharlika Pilipinas Basketball League (MPBL) 2026 Season at the Paco Arena in Manila. Quezon City leaned on two charities by Val Chauca with 4.7 seconds left to nip Pasig City, 89-88, while Basilan exploited the absence of Meycauayan Marilao’s top gunners to prevail, 81-76, in the second game of another triple-bill in the round-robin elimination phase of the two-division, 26-team tournament. Pasig had a chance to reverse the outcome, but Michael Lambino opted to pass instead of firing a shot at the buzzer, enabling Quezon City to raise its record to 11-14 in the North division. The Black Bulls, led by Kobe Monje and Jessie Sumoda, share the eighth spot with the Bataan Risers and will advance to the play-in among the teams ranked seventh to 10th after the eliminations to decide the North’s last two playoff qualifiers. Monje tallied 20 points, 7 rebounds and 2 assists, but yielded the SportsPlus best player honors to the 6-foot-5 Sumoda, who notched 19 points, 10 rebounds, 2 assists and 2 blocks. Pasig slid to an 11-13 slate despite Jacob Galicia’s 24 points, 5 rebounds, 2 steals and 2 blocks; Keith Pido’s 15 points, 5 assists, 4 steals and 3 rebounds; Jerome Garcia’s 12 points and 5 rebounds; and Warlo Batac’s 14 points, 5 assists and 4 rebounds.

Companies BusinessMirror

Editor: Jennifer A. Ng

Wednesday, September 16, 2026

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OTHER SY-LED FIRMS SEAL ABS-CBN to cut workforce 2GO, LOGISTICS FACILITATION PACT as ad spending nosedives By VG Cabuag @villygc

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By Lorenz S. Marasigan

@lorenzmarasigan

BS-CBN Corp. will let go of around 200 employees, or 7 percent of its workforce, even after receiving fresh capital from its parent group, as weak advertising and consumer spending continue to weigh on the media company’s recovery efforts. “After careful review, we have made the difficult decision to implement a retrenchment program to keep ABS-CBN on strong financial footing,” the company said in a statement. “We know this will deeply affect our employees and their families, and we intend to manage this the way we have always done—with compassion for our Kapamilya.” The retrenchment comes despite its efforts to raise P6 billion in fresh capital last month. ABS-CBN acknowledged the

fresh funding, saying the “new investments are a vote of confidence in the future of the company and will help ABS in our journey towards recovery and new successes.” The Kapamilya network, however, cited a difficult year for the content industry, saying the Middle East conflict, high inflation, and low economic growth have dampened advertising and consumer spending. “These events have affected our recovery efforts and we expect

these challenges to continue.” Despite the job cuts, ABS-CBN said its content business continues to grow, with its shows, films, music, and events reaching more audiences across platforms in the Philippines and abroad. “We are in the process of re-building and re-creating ABS-CBN towards a new future as a global storytelling company.” “We are truly grateful to all our Kapamilyas for their dedication, passion, and service to the company and the Filipino people.” ABS-CBN saw its net loss more than double in the first semester, as the absence of election-related advertising, weaker consumer sentiment, and a thinner slate

ROBOTAXI SERVICE

Alphabet Inc.’s Waymo plans to bring its robotaxis to Japan next year as the US market leader continues its global expansion. Waymo will partner with Japanese taxi firms Go Inc. and Nihon Kotsu Co. to start a fully autonomous service in Tokyo in 2027, it said Tuesday. The companies expect to start with a small fleet and then expand gradually to 100 vehicles. Shares of Go, which manages Japan’s top taxibooking app, rose as much as 9.7 percent on Tuesday. The stock is up more than 40 percent since its initial public offering in June.Waymo has been expanding rapidly in the US and is now setting its sights on overseas markets, with the manufacturer also preparing a service in London. It has been testing in Tokyo for the past year and its autonomous service would be the first on Japanese public roads. Photo shows a Waymo autonomous taxi in Dallas, Texas. BLOOMBERG

Ty leans on Japanese design cues

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EDERAL Land Inc. Chairman Alfred V. Ty said the company is leaning on the skills of its Japanese partners in several real estate projects amid the headwinds facing the property sector. Ty also said other players in the local property sector have pursued strategies to get over the hump, such as training their sights on retail or the office sector. As for Federal Land, he said it is focusing on the resilient upmarket segment. “I think there’s a lot to learn from their (Japanese partners) practice of real estate. We don’t claim to be the best, but we want to offer something different, and I think we need to have an open mind for improvements,” Ty told reporters at the sidelines of the launch of Aki Tower in Bonifacio Global City in Taguig. For instance, Ty noted the difference between the decorating ideas of

Filipino and Japanese designers for a 50-square-meter unit. “There’s so many things inside their unit because they’re (the Japanese) really focusing on how to maximize space, so there’s a lot of storage,” he said. “For us, we’re just excited to do more of the Japan-inspired living. I think and the acceptance of Filipino for anything Japan, right? So, that definitely helps and it gives us a better platform to showcase so many new ways of looking at things.” The company, with its partners Nomura Real Estate Development Co., Ltd. and Isetan Mitsukoshi Holdings Ltd., on Tuesday launched the Aki Tower and the officially unveiled the Guest House, which will be opened to the guests of the residential owners by yearend. Aki, which has about 300 units, is the third tower of the Seasons Residences, which brings Japanese-

inspired living in the country. The Guest House, meanwhile, is an amenity that will provides residents with a dedicated space where family and friends can stay and experience the warmth of Japaneseinspired living. It features four bedrooms with bathrooms, a tatami room, living room, dining area, kitchen and garden. The facility is available for rent exclusively to homeowners of the Seasons Residences and their guests. Pricing will be available by next year. The fourth tower, meanwhile, will be launched by December next year, company officials said. Ty said the company may be doing Japanese-inspired design on its projects in General Trias in Cavite, which Federal Land is developing into a Smart City. The company also has a project in Cebu, which it is also incorporating the same design, he added. VG Cabuag

of films and live events dragged down revenues. The listed media conglomerate reported a consolidated net loss of P1.83 billion for the Januaryto-June period, wider than the P852-million loss it booked in the same period last year. Consolidated revenues fell 17 percent to P6.88 billion, with the company attributing most of the drop to its Cable TV and Broadband businesses. Excluding political advertising and one-off items in both years, the segment’s recurring net loss narrowed by 1 percent, while recurring earnings before interest, taxes, depreciation, and amortization (EBITDA) rose 2 percent. The company expects revenues to recover in the second half. The retrenchment is the latest chapter in ABS-CBN’s long recovery from the loss of its congressional broadcast franchise in 2020, which forced it off free television and led to the separation of close to 6,000 employees. The network has since pivoted to content provision, distributing its programs across digital platforms and rival networks.

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OGISTICS firm 2Go Group Inc. on Tuesday said it has partnered with SMX Convention Center, Central Business Park and SM Estates to establish a centralized permit and logistics facilitation system designed to streamline events operations within the SMX Convention Center and the Mall of Asia Complex. Formalized through a memorandum of understanding, the partnership aims to simplify permit facilitation, improve operational efficiency and ensure the seamless movement of exhibit materials, event equipment, and deliveries for exhibitors, organizers, suppliers and service providers. “Streamlining our work with SMX, CBP and SM Estates is a reflection of our commitment to innovation across the logistics ecosystem,” 2Go forwarding business unit head Faye Alonzo said. “Through this partnership, we are consolidating permit processing as an integrated end-toend solution and a single point of contact for permit processing. This enables exhibitors and

organizers to move cargo more efficiently and with greater confidence.” Under the agreement, 2Go will facilitate permit applications on behalf of contractors, coordinate endorsements with SM Estates, process submissions with CBP, and provide end-to-end logistics support throughout ingress, event operations and pull-out activities within the SMX. “By aligning our expertise and resources, we are creating a more seamless and efficient framework for our venue logistics,” Walid Wafik, senior vice president for operations of SM Hotels and Conventions Corp., which manages the SMX Convention Center, said. “This reinforces our dedication to delivering world-class experiences supported by efficient operational systems,” Wafik said. The collaboration introduces a one-stop service model designed to make permit processing more efficient while ensuring compliance with estate and operational requirements. By streamlining coordination, the initiative is expected to reduce administrative workload, minimize delays, and enhance event experiences for organizers, contractors and eventgoers alike.

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Wednesday, September 16, 2026

Companies BusinessMirror

Mynt IPO shows strength of local capital market—SEC

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By VG Cabuag

@villygc

HE initial public offering (IPO) of Mynt Inc., the parent firm of GCash, is a testament to the capacity and ability of the Philippine capital market to facilitate big fundraising activities, Securities and Exchange Commission (SEC) Chairman Francis E. Lim said. He said the fundraising activity sends a strong signal to the public of the opportunities offered by the stock market. Mynt is said to be the largest fundraising activity at the Philippine Stock Exchange (PSE) at an indicative amount of about P92 billion. “An offering of this magnitude

is a most welcome development. It demonstrates that the Philippine capital market has the capacity to absorb sizeable equity transactions and mobilize investor demand at scale—sending a strong signal to other companies considering the capital markets as a means of raising capital and

ex pand ing their businesses,” Lim said. With Mynt’s broad and diverse user base, he said the IPO also presents “a unique opportunity to deepen retail participation and bring more Filipinos into the capital market as investors and shareholders, not merely as users of financial services.” “The SEC welcomes this offering as part of our continuing efforts to make the Philippine capital market deeper, more inclusive, and more competitive. In this context, we hope that the IPO will be priced at a level that provides meaningful upside potential for both local and foreign participants.” Japhet Tantiangco, research head at Philstocks Financial Inc. said the fundraising could perk up the local stock market heading into the fourth quarter of the year. Tantiangco said investors have high expectations and are eagerly anticipating major primary market

events, such as the IPO of Mynt, which could revive market sentiment ahead of the seasonal December “Santa Claus rally.” “Investors are really looking towards this. Investors are really looking towards these IPOs. If they perform well as they get into the market, then there’s the possibility that they could revive investor sentiment, and they could invite more investor participation in the market.” Mynt is looking to offer the public a total of 9.23 billion common shares at an indicative price of up to P10 each. The offering is divided into an initial tranche of 8.027 billion shares and another 1.2 billion secondary shares to cover an oversubscription option. It is targeting to hold its IPO from October 6 to 12, following the final price setting on October 1. The company plans to list its shares on the PSE on October 20 under the trading symbol GCASH.

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

September 15, 2026

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

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

48.95 115.3 10.38 101.9 52 10.08 63.15 6.92 78 51.4 22.8 64.5 21.6 1.4 0.5 4.12 0.41 0.103 2,600 1.42 212.2 4,800 1.28

49 115.8 10.68 102 52.5 10.12 63.3 6.99 78.4 52.4 23.1 64.8 21.95 1.42 0.52 4.15 0.425 0.105 2,650 1.43 212.8 4,900 1.3

50.8 116.5 10.78 102.3 53 10.1 63.3 7 78 52.4 23 64 23.2 1.42 0.5 4.3 0.39 0.105 2,600 1.47 213 4,800 1.22

50.8 116.5 10.78 102.4 53.35 10.12 63.4 7 78.7 52.4 23 64.9 23.4 1.42 0.5 4.3 0.445 0.105 2,650 1.47 213 4,800 1.35

48.5 114.6 10.78 101.6 51.85 10.08 63.05 7 77 51.5 22.9 63.3 21.05 1.42 0.5 4.15 0.35 0.105 2,600 1.42 212.8 4,800 1.22

49 115.8 10.78 102 52.5 10.08 63.15 7 78.4 51.5 22.9 64.5 21.95 1.42 0.5 4.15 0.425 0.105 2,600 1.43 212.8 4,800 1.28

65,710 2,625,030 300 652,120 519,410 476,300 1,487,400 100 284,760 2,500 10,100 114,220 365,400 12,000 2,000 4,000 960,000 50,000 800 1,076,000 530 725 3,729,000

3,268,815 302,999,920 3,234 66,464,098 27,223,814 4,809,392 93,979,524 700 22,248,968 128,807 231,300 7,351,126 8,038,020 17,040 1,000 16,900 391,250 5,250 2,080,500 1,534,020 112,786 3,480,000 4,821,080

161,868 -138,147,384 4,042,294 -14,570,689 -235,834 -31,234,121 10,397,737 -7,755 -287,135 582,615 2,041,000 1,012,460 -2,130 3,480,000 -381,130

INDUSTRIAL ACEN CORP 2.58 2.62 2.6 2.62 2.56 2.62 2,925,000 7,575,240 -917,490 ALSONS CONS 1.37 1.38 1.4 1.48 1.32 1.37 18,761,000 26,639,900 -1,199,940 0.7 0.72 0.71 0.72 208,000 147,900 3,550 ALTERNERGY HLDG 0.72 0.72 ABOITIZ POWER 45 45.4 45.05 45.75 45 45.4 1,585,700 71,762,700 -6,520,275 RASLAG 1.09 1.09 1.08 1.08 1.08 1.08 175,000 189,450 69,450 0.106 0.108 0.109 0.109 0.106 0.107 1,570,000 167,980 BASIC ENERGY CITICORE RE 5 5 4.87 4.84 4.84 5 50,000 246,540 -9,740 FIRST GEN 23.7 23.8 23.65 24.1 23.1 23.7 1,033,600 24,403,160 -1,268,305 97.1 97.6 99 99 97.05 97.6 59,290 5,807,539 -987,901 FIRST PHIL HLDG MERALCO 488.4 485.8 486 485.8 485.6 486 128,610 62,584,136 11,417,354 MANILA WATER 35.05 35.2 34.35 35.3 34.35 35.2 1,104,300 38,794,265 -15,093,600 17.7 17.76 18.12 18.16 17.52 17.7 4,434,600 79,111,644 -12,206,504 MAYNILAD PETRON 2.33 2.32 2.3 2.4 2.3 2.33 2,396,000 5,617,320 614,180 PETROENERGY 4.82 4.66 4.8 4.5 4.5 4.8 840,000 4,000,170 -1,741,670 15.4 15.5 15.4 15.4 15.4 15.4 33,400 514,360 509,740 PRYCE CORP REPOWER ENERGY 9.65 9.55 9.6 9.65 9.6 9.65 2,000 19,220 SEMIRARA MINING 17.3 17.58 17.3 17.8 17.28 17.58 821,700 14,425,770 -1,915,726 24.05 24.1 23.8 24.75 23.8 24.1 1,675,800 40,422,825 9,099,930 SYNERGY GRID SHELL PILIPINAS 8 8.02 8.1 8.19 7.93 8 498,100 3,986,418 -701,087 SPC POWER 9.49 9.49 9.45 9.49 9.4 9.4 5,900 55,604 1.22 1.23 1.19 1.23 1.16 1.22 8,748,000 10,555,810 -382,380 SP NEW ENERGY TOP LINE 1.65 1.66 1.67 1.67 1.65 1.66 309,000 511,260 19.98 19.98 VIVANT 18.6 19.98 19.98 19.98 100 1,998 2.78 2.8 2.87 2.87 2.77 2.78 2,109,000 5,908,240 -5,460 AXELUM BALAI FRUITAS 0.315 0.315 0.3 0.3 0.3 0.315 140,000 43,400 -6,200 CENTURY FOOD 32.85 32.85 32.8 32.8 32.4 32.85 526,100 17,242,130 -522,925 3.4 3.41 3.7 3.7 3.41 3.41 26,000 90,760 17,130 DEL MONTE DNL INDUS 3.42 3.44 3.48 3.48 3.42 3.42 1,589,000 5,441,060 319,380 EMPERADOR 15.24 15.16 15.3 15.3 15.08 15.24 2,207,500 33,474,642 -612,210 45.8 45.85 45.95 46 45.7 45.85 33,500 1,537,690 -568,820 SMC FOODANDBEV FIGARO GROUP 0.62 0.63 0.63 0.65 0.62 0.64 2,092,000 1,338,230 -3,850 ALLIANCE SELECT 0.395 0.42 0.43 0.43 0.385 0.395 300,000 120,450 -200 0.64 0.64 0.64 0.65 101,000 64,650 FRUITAS HLDG 0.65 0.65 GINEBRA 220.2 199.4 199.5 220 199 199.5 434,290 88,469,587 -44,670,306 JOLLIBEE 148.5 147.3 147.5 147.9 146.3 147.3 301,750 44,381,000 2,075,084 1.84 1.85 1.85 1.88 1.82 1.85 1,877,000 3,482,810 2,632,220 KEEPERS HLDG LIBERTY FLOUR 21 21.9 21.2 21.9 21 21.9 400 8,600 MAXS GROUP 2.11 2.18 2.11 2.2 2.11 2.2 101,000 220,180 -17,600 0.072 0.073 0.073 0.075 180,000 13,280 MG HLDG 0.075 0.075 MONDE NISSIN 6.7 6.75 6.76 6.9 6.7 6.7 3,238,400 21,747,002 3,073,684 5.5 5.5 SHAKEYS PIZZA 5.14 5.5 5.49 5.5 85,700 471,249 2.47 2.57 2.58 2.58 2.58 2.58 7,000 18,060 ROXAS AND CO RFM CORP 5.25 5.27 5.26 5.3 5.25 5.26 450,200 2,368,308 -1,286,106 SWIFT FOODS 0.055 0.055 0.051 0.053 0.05 0.055 380,000 19,880 58.1 58.7 58.85 58.85 58 58.7 185,420 10,824,122 -6,452,651 UNIV ROBINA ATN HLDG A 0.39 0.395 0.39 0.395 0.36 0.39 4,450,000 1,677,650 ATN HLDG B 0.39 0.395 0.4 0.4 0.36 0.39 2,370,000 918,200 1.31 1.32 1.39 1.4 1.3 1.32 3,288,000 4,412,570 -582,250 CONCREAT HLDG EEI CORP 2.02 2.05 1.99 2.05 1.99 2.05 344,000 695,600 -46,620 MEGAWIDE 5.27 5.17 5.2 5.3 5.16 5.2 888,600 4,654,159 -157,303 15 15 11.22 15 6,800 98,558 SUPERCITY 11.22 CROWN ASIA 1.83 1.87 1.9 1.9 1.82 1.87 519,000 960,280 1.24 EUROMED 1.15 1.19 1.24 1.15 1.19 71,000 87,060 -7,440 10.52 10.64 10.66 10.66 10.52 10.52 11,400 120,130 CONCEPCION GREENERGY 0.151 0.15 0.154 0.155 0.15 0.151 1,910,000 288,220 -9,150 INTEGRATED MICR 8.11 8.2 8.56 8.56 7.64 8.2 10,999,700 88,606,293 9,689,277 3.22 3.5 3.66 3.06 3.22 15,141,000 50,162,350 -1,785,530 IONICS 3.25 PANASONIC 7.25 7.1 7.26 7.26 7.01 7.25 2,800 20,062 CIRTEK HLDG 1.33 1.34 1.46 1.51 1.3 1.34 9,729,000 13,438,150 406,420

HOLDING & FRIMS

Syngenta is said to file for $5-B Hong Kong IPO

S

YNGENTA Group has confidentially filed for a Hong Kong initial public offering (IPO), according to people familiar with the matter, as it moves ahead with a share sale that was delayed by the impact of the war in the Middle East. The Chinese-owned seed and pesticide company is considering seeking about $5 billion in the IPO, the people said. It’s aiming to list next year pending regulatory approvals, according to the people, who asked not to be identified because the information is private. An IPO of Switzerland-based Syngenta would be one of the biggest Hong Kong listings in recent years. Companies have already completed $47 billion of IPOs in the city this year, more than double the tally for the same period in 2025, according to data compiled by Bloomberg. Details are still being finalized and targets including the timing and size of the IPO might change, the people said.

A Syngenta spokesperson declined to comment. Syngenta had filed for an IPO in Shanghai in 2021 but pulled the application three years later, citing volatile markets. Hong Kong then loomed into view, with the company at one point considering submitting a listing application in June this year. But volatility struck again with the war in Iran disrupting industry supplies and prices. There was a shift within Syngenta too, as Hengde Qin became chief executive officer in August, taking over from Jeff Rowe, a key advocate for the IPO. Syngenta makes crop protection products including herbicides, insecticides and fungicides, and also develops seed varieties for crops such as corn, soybean, sunflowers, cereals and vegetable seeds. China National Chemical Corp., or ChemChina, acquired the company in 2017. ChemChina was later absorbed into Sinochem Holdings Corp. Bloomberg News

MUTUAL FUNDS

September 15, 2026

NAV ONE YEARTHREE YEAR FIVE YEAR Y-T-D PER SHARE RETURN* RETURN STOCK FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM GROWTH FUND, INC. -A211.04 -2.21% 1.57% -1.07% -2.18% -1.42% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.398 14.75% 17.96% 9.04% 5.58% 10.94% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.8413 -1.37% 0.49% -1.42% -3.86%-0.34% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7566 0.4% 4.21% 0.49% N.A3.05% FIRST METRO CONSUMER FUND, INC. -A 0.5002 -13.34% -8% -8.42% N.A -10.05% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.3101 -4.21% -1.27% -2.87% -2.1% -1.43% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6468 -0.84% -0.99% -2.76% N.A0.65% MBG EQUITY INVESTMENT FUND, INC. -A 70.71 -17.47% -7% -6.38% N.A -20.96% PAMI EQUITY INDEX FUND, INC. -A 42.3397 1.47% 0.85% -1.45% -1.72% 2.37% PHILAM STRATEGIC GROWTH FUND, INC. -A 442.6 -2.43% 1.19% -1.56% -1.99% -1.54% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.607 6% 11.77% 5.65% 2.37% 2.93% PHILEQUITY FUND, INC. -A35.942 4.18% 3.58% 0.66% -0.14% 4.39% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.9703 10.1% 5.89% 1.72% N.A 9.3% PHILEQUITY PSE INDEX FUND, INC. -A 4.5855 2.25% 1.88% -0.41% -0.88% 2.59% PHILIPPINE STOCK INDEX FUND CORP. -A 754.44 1.95% 1.5% -0.73% -1.06% 2.65% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7158 3.08% 3.1% 0.21% -2.21% 1.95% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.1242 -6.32% -1.05% -2.83% -2.66%-2.66% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8455 1.79% 1.09% -1.09% -1.32%2.61% UNITED FUND, INC. -A3.61179.43% 6.43% 1.9% 0.65% 9.86% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0596 2.07% 1.53% N.A N.A 2.58% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0428 -1.19% N.A N.A N.A -0.07% PHILEQUITY ALPHA ONE FUND, INC. -A 0.9137 -3.91% -2.34% -3.62% N.A -3.24% PHILIPPINE STOCK INDEX FUND CORP. -A 910.32 1.95% 1.29% N.A N.A 2.69% EXCHANGE TRADED FUND (SHARES) FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 102.954 2.26% 1.72% -0.41% -0.65%2.94% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.2592 26.97% 15.26% 0.89% 3.48% 22.91% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.4562 15.15% 16.09% 6% 9.08% 10.43% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) N.A N.A N.A N.A N.A PHILEQUITY GLOBAL FUND, INC. -A,2 1.0645 BALANCED FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1885 2.26% 0.99% -0.27% -0.68% 2.25% ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.7199 6.98% 5.68% 0.44% -0.39%5.11% FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5081 0.92% 0.9% -0.95% -0.35%1.87% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2302 -0.86% 6.74% 3.4% N.A -0.73% NCM MUTUAL FUND OF THE PHILS., INC. -A,1 1.9912 2.54% 1.19% 0.28% 0.5% -0.56% PAMI HORIZON FUND, INC. -A3.7368 0.2% 2.96% 0.25% -0.15% -1.4% PHILAM FUND, INC. -A15.7868 -1.95% 1.67% -0.91% -0.71% -1.39% SOLIDARITAS FUND, INC. -A2.1118 0.98% 2.35% 0.49% 0.09% 0.55% SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.3933 -2.69% 1.03% -1.01% -1.05%-0.88% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.8886 -3.92% 0.73% -0.27% -0.84% -2.43% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) BPI WEALTH BUILDER MULTI-ASSET MUTUAL FUND, INC. -A,3 10.75 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9762 0.42% 1.98% -0.24% N.A -0.27% SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8252 -2.53% 0.4% -1.88% N.A -1.97% SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.7929 -0.14% -2.39% N.A -3.13% -2.26% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03279 -2.9% 0.68% -3.14% -0.92% -4.4% PAMI ASIA BALANCED FUND, INC. -B $1.1552 -4.05% 9.65% 0.94% 2.27% -4.53% SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.6676 9.16% 11.74% 3.36% 5.99%6.17% SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.2049 3.11% 6.81% 0.24% 2.41%1.82% BOND FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) ALFM PESO BOND FUND, INC. -A 424.45 2.27% 3.2% 2.61% 2.51% 1.06% ATRAM CORPORATE BOND FUND, INC. -A 1.989 2.3% 1.29% 0.61% 0.41% 1.56% COCOLIFE FIXED INCOME FUND, INC. -A 3.604 1.35% 2.95% 2.15% 3.17% 0.12% EKKLESIA MUTUAL FUND, INC. -A 2.4378 0.35% 2.92% 1.5% 1.38% -0.6% FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5014 -2.07% 1.14% 0.49% 1.09%-2.63% PHILAM BOND FUND, INC. -A4.51 -1.29% 2.44% 0.14% 0.65% -2.17% PHILAM MANAGED INCOME FUND, INC. -A 1.5441 2.83% 4.49% 3.2% 2.94% 1.59% PHILEQUITY PESO BOND FUND, INC. -A 4.3256 1.16% 2.93% 1.67% 1.89% 0.29% SOLDIVO BOND FUND, INC. -A1.1296 1.82% 2.84% 1.68% 1.65% 0.81% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.4394 -2.65% 2.07% 1.32% 1.91% -2.86% SUN LIFE PROSPERITY GS FUND, INC. -A 1.8303 -2.15% 1.83% 0.88% 1.36% -2.87% CORPORATE DEBT VEHICLE (UNITS) ATRAM UNITIZED CORPORATE DEBT FUND 2 -A,5 1.0143 N.A N.A N.A N.A N.A PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) ALFM DOLLAR BOND FUND, INC. -A $532.49 1.62% 2.8% 1.74% 1.94% 0.65% ALFM EURO BOND FUND, INC. -A Є222.47 -0.22% 1.71% 0.16% 0.5% -0.59% ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0487 -2.85% 0.42% -2.82% -0.72% -2.45% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0255 -3.41% 1.62% -0.54% 0.2%-3.77% PAMI GLOBAL BOND FUND, INC. -B $1.047 -1.75% 7.81% -0.1% -0.53% -1.23% PHILAM DOLLAR BOND FUND, INC. -A $2.4025 -2.67% 2.85% -1.06% 0.56% -3.13% PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.063108 -1.58% 1.36% 0.01% 1.06% -2.08% SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.8631 -2.67% 2.21% -2.23% -0.62%-2.37% MONEY MARKET FUNDS PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AIB MONEY MARKET MUTUAL FUND, INC. -A 1.1881 2.74% N.A N.A N.A 1.86% ALFM MONEY MARKET FUND, INC. -A 152.94 4.13% 4.1% 3.19% 2.87% 2.73% FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.2257 3.45% 3.77% 3.04% N.A2.34% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.5167 3.53% 3.59% 2.98% 2.77% 2.38% PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM MONEY MARKET FUND, INC. -A 117.19 4.12% 4.31% N.A N.A 2.84% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1962 2.51% 3.31% 2.47% N.A 1.69% FEEDER FUNDS PRIMARILY INVESTED IN PESO SECURITIES (UNITS) ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 48.0088 6.43% 3.85% N.A N.A 4.12% MBG ASIA FRONTIER FEEDER UMF, INC. -B,4 1.8431 N.A N.A N.A N.A N.A SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.5909 29.12% 22.51% 14.19% N.A19.39% SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.2005 11.55% 6.77% N.A N.A 7.6% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS)

ABACORE CAPITAL 0.34 0.345 0.335 0.34 0.33 0.34 2,280,000 766,750 -10,150 ASIABEST GROUP 62.5 62.65 63 63.5 62 62.65 568,360 35,371,670 6,328,607 476.8 477 475 478 475 477 628,440 300,096,740 -176,070,558 AYALA CORP ABOITIZ EQUITY 37.2 37.7 37.8 38 36.7 37.7 2,354,900 87,709,145 21,181,865 ALLIANCE GLOBAL 8.99 9 8.97 9.1 8.91 9 859,100 7,665,136 -1,275,295 16.74 17 17.22 17.22 17 17 1,000 17,176 ANSCOR ANGLO PHIL HLDG 1.46 1.5 1.47 1.51 1.43 1.5 1,840,000 2,737,300 -66,200 COSCO CAPITAL 8.25 8.25 8.1 8 7.91 8.25 827,900 6,685,715 2,252,503 8.29 8.3 8.16 8.39 8.16 8.29 2,170,900 17,930,653 581,254 DMCI HLDG FILINVEST DEV 3.77 3.77 3.7 3.77 3.76 3.77 51,000 192,070 -3,770 GT CAPITAL 440.2 441 455 458 440 441 172,630 76,378,548 3,737,036 4.65 5 5 5 5 5 3,000 15,000 HOUSE OF INV JG SUMMIT 19.3 19.48 19.3 19.5 19.2 19.48 243,700 4,708,622 708,820 LODESTAR 0.49 0.49 0.48 0.45 0.45 0.49 9,230,000 4,401,850 113,100 5.74 5.77 5.8 5.8 5.72 5.74 651,600 3,737,893 -55,267 LOPEZ HLDG LT GROUP 15.38 15.4 15.1 15.38 15.02 15.38 2,820,800 43,167,462 22,920,138 PACIFICA HLDG 0.88 0.88 0.86 0.88 0.88 0.88 4,000 3,520 -880 1.01 1.16 1.16 1.16 1.16 1.16 1,000 1,160 PRIME MEDIA SOLID GROUP 1.2 1.21 1.2 1.22 1.12 1.21 273,000 319,580 SM INVESTMENTS 522.5 528.5 535 535 521.5 522.5 456,860 239,213,575 -132,990,695 62.6 62.65 62.5 62.9 61.95 62.65 230,230 14,398,372 -53,152 SAN MIGUEL CORP TOP FRONTIER 52.45 54.5 52.45 52.45 52.4 52.45 840 44,057 PROPERTY AYALA LAND 15.44 15.46 15.14 15.6 15.12 15.46 15,503,500 239,610,018 79,321,318 AYALA LAND LOG 1.16 1.2 1.2 1.2 1.15 1.2 46,000 54,190 15,430 11.8 12.12 11.9 12.1 11.88 11.88 900 10,720 ALTUS PROP AREIT RT 37.45 37.45 37.4 37.25 37.2 37.4 894,500 33,453,755 2,416,605 A BROWN 0.81 0.81 0.78 0.8 0.8 0.81 52,000 41,770 0.58 0.6 0.61 0.62 0.58 0.62 32,000 18,940 580 CITYLAND DEVT CROWN EQUITIES 0.091 0.091 0.089 0.091 0.091 0.091 20,000 1,820 CEB LANDMASTERS 2.01 2.02 2.03 2.03 2.02 2.02 113,000 228,280 -222,200 0.6 0.61 0.64 0.64 0.6 0.6 18,615,000 11,266,530 43,930 CENTURY PROP CITICORE RT 3.09 3.11 3.12 3.15 3.08 3.11 2,352,000 7,300,390 -2,803,160 DOUBLEDRAGON 12.08 12 12 12 11.98 12 61,700 739,462 44,326 1.03 1.04 1.03 1.04 4,401,000 4,576,370 -5,200 DDMP RT 1.04 1.04 DM WENCESLAO 4.8 4.95 4.8 4.8 4.8 4.8 4,000 19,200 EVERWOODS 0.026 0.027 0.026 0.027 0.026 0.027 700,000 18,300 13,000 0.097 0.1 0.099 0.101 0.097 0.099 920,000 91,080 EMPIRE EAST FILINVEST RT 2.89 2.89 2.88 2.88 2.88 2.89 199,000 574,410 FILINVEST LAND 0.68 0.69 0.68 0.69 0.68 0.69 1,634,000 1,124,420 1,054,810 0.61 0.61 0.61 0.63 114,000 69,560 GLOBAL ESTATE 0.63 0.63 JACKSTONES 1.79 1.68 1.76 1.8 1.76 1.8 7,000 12,430 -3,520 MEGAWORLD 2.25 2.23 2.24 2.22 2.22 2.24 3,565,000 7,945,610 -2,262,280 0.65 0.68 0.69 0.69 0.65 0.68 17,608,000 11,812,040 -3,270,130 MRC ALLIED MREIT RT 13.68 13.7 13.8 13.88 13.66 13.7 9,309,200 127,590,300 33,112,030 PHIL ESTATES 0.41 0.41 0.395 0.41 0.41 0.41 100,000 41,000 1.01 1.03 1.01 1.04 1.01 1.03 98,000 99,710 1,010 PREMIERE RT RL COMM RT 6.72 6.73 6.7 6.78 6.7 6.73 2,279,300 15,359,322 5,938,094 ROBINSONS LAND 16.78 17 17.18 17.18 16.7 17 1,495,300 25,118,656 802,106 0.106 0.112 0.112 0.112 0.112 0.112 10,000 1,120 PHIL REALTY ROCKWELL 2.96 2.94 3 3 2.96 2.96 207,000 617,610 136,640 SHANG PROP 3.16 3.16 3.1 3.15 3.1 3.16 138,000 431,830 1.82 1.84 1.9 1.9 1.8 1.84 31,000 56,090 3,630 STA LUCIA LAND SM PRIME HLDG 17.58 17.6 17.76 17.78 17.54 17.6 16,250,100 286,671,936 -106,077,714 SUNTRUST RESORT 0.425 0.425 0.405 0.41 0.405 0.425 130,000 52,950 -4,250 SERVICES ABS CBN 3.27 3.29 3.27 3.27 3.22 3.27 22,000 71,670 GMA NETWORK 3.94 3.94 3.91 3.94 3.88 3.94 246,000 962,190 5.01 5.5 5.03 5.03 5.03 5.03 100 503 MLA BRDCASTING DITO CME HLDG 0.64 0.65 0.64 0.66 0.64 0.65 5,608,000 3,634,060 103,820 GLOBE TELECOM 1,605 1,612 1,595 1,614 1,595 1,612 12,105 19,469,580 5,709,020 1,145 1,148 1,140 1,148 1,134 1,148 51,545 58,966,945 22,407,575 PLDT APOLLO GLOBAL 0.0059 0.006 0.0058 0.006 0.0058 0.006 41,000,000 240,400 41,400 CONVERGE 20,773,874 9.43 9.45 9.68 9.68 9.35 9.45 2,201,200 -9,430,564 0.66 0.7 0.65 0.65 21,000 13,850 -2,800 DFNN INC 0.7 0.7 IMPERIAL 0.87 0.87 0.98 0.87 0.87 0.87 2,000 1,740 ISLAND INFO 0.127 0.132 0.13 0.135 0.127 0.128 3,660,000 478,530 0.4 0.405 0.4 0.41 250,000 102,100 -4,100 0.41 0.41 NOW CORP TRANSPACIFIC BR 0.116 0.119 0.116 0.116 0.116 0.116 350,000 40,600 0.85 CHELSEA 0.84 0.87 0.85 0.84 0.84 92,000 77,750 25.25 25.95 26 26.5 25.25 25.25 277,000 7,079,280 -3,278,270 CEBU AIR INTL CONTAINER 958 960 993 996 958 958 1,142,050 1,105,336,950 -66,433,655 LBC EXPRESS 7.03 8.02 8.03 8.03 8.02 8.02 1,500 12,043 3.58 3.75 3.6 3.58 3.58 428,000 1,540,760 -176,190 3.77 MACROASIA PAL HLDG 3.15 3.2 3.09 3.22 3.01 3.2 3,593,000 11,269,690 -186,510 HARBOR STAR 1.81 1.82 1.89 1.92 1.75 1.81 3,024,000 5,510,500 -476,320 0.031 0.032 0.032 0.034 0.031 0.031 17,100,000 532,100 2,900 BOULEVARD HLDG DISCOVERY WORLD 0.95 1 1.01 1.02 0.94 1 5,000 4,970 -80 GRAND PLAZA 5.03 5.03 5.02 5.03 5.03 5.03 10,200 51,306 0.176 0.18 0.167 0.18 0.163 0.176 4,830,000 849,800 -185,760 PH RESORTS GRP WATERFRONT 0.415 0.415 0.44 0.415 0.415 0.415 60,000 24,900 15.14 15.14 CENTRO ESCOLAR 14.58 14.9 14.9 15.14 1,200 18,096 6.92 7.18 7.13 7.13 700 5,011 -2,139 7.18 7.18 IPEOPLE STI HLDG 1.32 1.32 1.3 1.31 1.3 1.32 112,000 145,870 37,700 BELLE CORP 1.1 1.12 1.13 1.13 1.1 1.12 123,000 136,670 -55,500 2.16 2.17 2.2 2.15 2.17 3,917,000 8,507,180 -986,120 BLOOMBERRY 2.25 PACIFIC ONLINE 1.5 1.59 1.5 1.5 1.45 1.45 102,000 150,540 36,540,066 DIGIPLUS 8.59 8.61 8.84 8.86 8.58 8.6 4,218,100 -9,862,045 15.06 15.04 14.8 15.1 2,174,000 32,447,922 12,458,380 PHILWEB 15.1 15.1 BERJAYA 8.33 8.33 7.8 8.33 8.33 8.33 100 833 METRO RETAIL 1.06 1.08 1.09 1.09 1.06 1.08 26,000 27,880 39.6 39.85 39.4 40 1,365,200 54,490,690 14,278,945 40 40 PUREGOLD PHIL SEVEN CORP 31.1 32 31.9 32 31.1 31.1 147,400 4,662,850 -1,692,670 SSI GROUP 2.11 2.11 2.04 2.01 2.01 2.11 88,000 181,430 0.78 0.82 0.81 0.85 0.79 0.82 578,000 460,540 21,030 UPSON INTL CORP WILCON DEPOT 5.58 5.6 5.75 5.75 5.58 5.6 1,112,700 6,259,385 -433,701 IPM HLDG 1.96 2.24 1.96 1.96 1.96 1.96 5,000 9,800 3.2 3.41 3.17 3.17 3.42 15,000 50,840 40,840 3.42 PAXYS SBS PHIL CORP 3.05 3.09 3.05 3.05 3.05 3.05 2,000 6,100 MINING & OIL 2.14 ATOK 2.01 2.13 2.12 2.12 2.13 49,000 104,720 17.98 18.04 17.6 18.44 17.6 17.98 11,554,800 209,283,986 40,702,662 APEX MINING ATLAS MINING 20.95 21 20.6 22.15 20.5 21 3,121,100 66,651,610 -3,715,025 CENTURY PEAK 2.01 2.01 2 2.01 2.01 2.01 10,000 20,100 0.37 0.37 0.365 0.38 1,250,000 461,500 0.38 0.38 EC VULCAN FERRONICKEL 2.38 2.33 2.45 2.45 2.29 2.38 2,272,000 5,306,790 -1,110,520 GEOGRACE 0.109 0.105 0.107 0.105 0.101 0.105 800,000 82,620 0.248 0.249 0.248 0.26 0.248 0.248 30,730,000 7,688,820 LEPANTO A LEPANTO B 0.249 0.25 0.249 0.255 0.249 0.255 670,000 166,890 MANILA MINING A 0.009 0.0091 0.009 0.0094 0.009 0.0091 13,000,000 118,500 0.009 0.0094 0.009 0.009 0.009 0.009 6,000,000 54,000 MANILA MINING B MARCVENTURES 0.84 0.81 0.82 0.83 0.8 0.82 1,352,000 1,107,600 100,430 NIHAO 0.63 0.58 0.6 0.61 0.55 0.6 54,000 32,190 4.45 4.46 4.55 4.55 4.45 4.45 3,549,000 15,852,690 -326,660 NICKEL ASIA OCEANAGOLD 37.45 37.35 37.05 37.6 37.05 37.45 655,800 24,546,820 4,268,525 ORNTL PENINSULA 0.6 0.62 0.63 0.63 0.61 0.62 168,000 102,690 12.34 12.36 12.36 12.74 12.26 12.36 10,690,900 133,892,320 38,079,014 PX MINING UNITED PARAGON 0.0087 0.0091 0.009 0.009 0.0086 0.009 41,000,000 362,000 3.18 3.18 ENEX ENERGY 3.03 3.18 3.02 3.04 7,000 21,400 3,020 0.014 0.015 0.014 0.014 0.014 0.014 11,200,000 156,800 ORNTL PETROL A PHILODRILL 0.0095 0.0095 0.0093 0.0093 0.0093 0.0095 69,000,000 649,600 PXP ENERGY 3.08 3.13 3.21 3.22 3.08 3.13 507,000 1,589,460 PREFFERED ACEN PREF B 1,028 1,039 1,035 1,035 1,023 1,023 3,050 3,127,830 AC PREF AR 2,472 2,496 2,472 2,472 2,472 2,472 20 49,440 1,865 1,939 1,939 1,948 1,920 1,948 205 396,990 AC PREF B3R AC PREF B4R 1,901 1,915 1,915 1,915 1,900 1,901 1,945 3,697,490 BRN PREF A 99 99.5 99 99 99 99 300 29,700 101.5 102 102 102 101.5 101.5 90 9,165 BRN PREF C CEB PREF 27.5 28.25 27.5 27.5 27.5 27.5 100 2,750 CLI PREF A1 987 990 990 990 990 990 160 158,400 1,000 1,015 1,010 1,010 1,010 1,010 5 5,050 CLI PREF A2 DD PREF 93.55 94.4 94 94.4 94 94.4 1,150 108,120 FDC PREF B 991 993 991 991 991 991 50 49,550 1,965 1,975 1,970 1,975 1,970 1,975 40 78,950 GLO PREF BNV MWIDE PREF 6C 103.1 106 104 104 103.2 103.2 500 51,840 MWIDE PREF 7A 100.6 101.3 100.6 100.6 100.6 100.6 130 13,078 99.65 100 100 100 100 100 440 44,000 MWIDE PREF 7B PCOR PREF 4A 952 999 946.5 946.5 946.5 946.5 10 9,465 SMC PREF 2L 79 81 81 81 79 81 100,110 8,108,710 79 79.9 79 79.05 79 79 40,040 3,163,224 SMC PREF 2O SMC PREF 2Q 73.3 74.5 74.5 74.5 74.5 74.5 1,350 100,575 SMC PREF 2R 74.65 77.5 75 75 75 75 20 1,500 74 75 75 75 75 75 1,200 90,000 -90,000 SMC PREF 2S SMC PREF 2T 74.25 76.3 76.3 76.3 76.3 76.3 190 14,497 SMC PREF 2U 76 76.8 76 76.95 76 76.9 3,650 279,435 78.2 78.3 78.5 78.5 78.3 78.3 560 43,860 SMC PREF 2V SMC PREF 2X 79.75 79.9 79.8 79.9 79.75 79.9 4,810 383,980 TECH PREF B2D 6.12 7.39 7.39 7.39 6.71 6.71 13,900 102,653 100.7 101 101 101 101 101 190 19,190 TOP PREF A1 TOP PREF A2 102.5 103 102.5 102.5 102.5 102.5 140 14,350 -

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

3.13 3.5 3.12 3.13 3.12 3.13 11,000 34,330 3.95 4.16 -

ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.7958 -2.97% 0.72% -4.27% N.A WARRANTS -1.75% AGI WARRANT 1.05 A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. SM A L L, M ED I U M & EM E R G IN G 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2 - LAUNCH DATE IS FEBRUARY 2, 2026. CTS GLOBAL 0.34 3 - LAUNCH DATE IS DECEMBER 18, 2024. MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON SEPTEMBER 12, HAUS TALK 1.29 2025. 0.64 ITALPINAS 4 - MEMBERSHIP WITH PIFA WAS OFFICIALLY APPROVED ON MARCH 26, 2026. KEPWEALTH 1.49 5 - LAUNCH DATE IS APRIL 17, 2026, AND IT REPRESENTS THE SECOND TRANCHE OF THE ATRAM UNITIZED CORPORATE MAKATI FINANCE 1.85 DEBT VEHICLE, INC. XURPAS 0.209 NEXGEN ENERGY 2.58 “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and its members make no

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

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

1.14

1.05

1.05

1.05

1.05

15,000

15,750

-

0.35 1.34 0.65 1.58 2.14 0.224 2.6

0.35 1.35 0.64 1.51 2.17 0.223 2.57

0.35 1.35 0.65 1.59 2.17 0.226 2.6

0.35 1.29 0.64 1.5 2.17 0.208 2.57

0.35 1.34 0.65 1.59 2.17 0.226 2.6

20,000 1,910,000 22,000 22,000 3,000 690,000 6,000

7,000 2,518,620 14,100 33,100 6,510 153,870 15,570

-384,840 640 -120 -

EXHANGE TRADE FUNDS FIRST METRO ETF

101.8

-

102

103 103.5 102 102 2,060 211,406 20,540

www.businessmirror.com.ph

Pagcor sees GGR at ₧350B by yearend

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ITH gaming revenues expected to fall short of target, the Philippine Amusement and Gaming Corp. (Pagcor) signaled that a decision on decoupling its dual role could come in the next 30 days, potentially reducing costs and allowing the agency to focus solely on regulation. Pagcor Chairman and CEO Alejandro H. Tengco told reporters on the sidelines of the IAG Academy Summit on Tuesday that the agency now sees gross gaming revenues (GGR) reaching at least P350 billion this year, below its P397-billion target. Already eight months into the year, Tengco said the original target is now on the “high side,” prompting a more “conservative” outlook for the rest of the year. “Until everything—the economic condition of our country, even our neighboring countries—until these uncertainties regarding the Middle East conflict is settled, I think we will just have to bear with whatever we can have,” Tengco said. The slowdown, nevertheless, gives the state gaming regulator an opportunity to reassess its operations and strengthen its guidelines and structures after a period of rapid expansion in the gaming industry, he added. One of the major reforms being pursued by Pagcor is the proposed decoupling of its role as operator of casino chain Casino Filipino and its regulatory functions. Tengco told reporters that the Governance Commission for GOCCs (GCG) could make its recommendation on the proposal within the next 30 days, as Pagcor has already submitted all the documents and data it requested since the last quarter of 2025. Once the GCG completes its review, it will endorse the proposal to the Office of the President for evaluation. The President’s executive order, however, could be issued in early 2027, Tengco said. Selling the 38 Casino Filipino sites and branches, which Tengco said are “bleeding heavily at the moment,” could yield about P20 billion for Pagcor and reduce operation costs. Despite this, Tengco said foreign companies, local businessmen and existing gaming licensees have expressed interest in acquiring Casino Filipino—drawn with the appeal of its locations in key cities, providing geographic exclusivity. Pagcor-operated casinos have contributed P6.081 billion in the GGR as of the first half of the year, contributing 3.46 percent to the total industry GGR. However, this was down by 6.57 percent year-on-year from P6.481 billion. First-half income generated from Casino Filipino also slipped by 8.67 percent year-on-year. “For me, it is not anymore looking at how much we will generate [from privatization]. The most important thing is we will strengthen Pagcor,” Tengco said. By becoming solely a regulator, Tengco said Pagcor’s main and primary focus would be crafting better regulations for the gaming industry. “W hen Casino Filipino was launched way, way back, decades ago, it was clearly a monopoly. There was no competition,” Tengco said. “It is already wrong that you will compete with your licensees. You gave them the license, then you will compete against them.” The decoupling, he said, would prepare Pagcor for a more stable outlook as the gaming industry adjusts to weaker market conditions. In the first half of the year, GGR fell by 18.16 percent to P175.738 billion from P214.752 billion in the same period in 2025, as inflation and geopolitical tensions in the Middle East weighed on discretionary spending. Pagcor’s total revenue also dropped by 26.64 percent to P43.32 billion in the first half from last year’s P59.05 billion due to lower earnings from gaming operations. Reine Juvierre S. Alberto

Banking&Finance BusinessMirror

Editor: Dennis D. Estopace • Wednesday, September 16, 2026

B3

US-Iran war, supply chain disruptions worry PHL financial institutions—FSCC

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By Andrea E. San Juan

HILE the Financial Stability Coordination Council (FSCC) affirmed that the Philippine financial system remains resilient, financial institutions flagged geopolitical tensions, cyberattacks and global supply chain disruptions as key risks that warrant close monitoring in the next few years. In a statement on Tuesday, the Bangko Sentral ng Pilipinas (BSP) said based on the latest Survey of Salient Risks conducted by the FSCC, respondents identified “geopolitical tensions, cyberattacks, and disruptions in global supply chains” as key risks that warrant close monitoring. The FSCC is composed of the BSP,

Department of Finance (DOF), Insurance Commission, Philippine Deposit Insurance Corporation, and Securities and Exchange Commission (SEC). The Council coordinates efforts to monitor and manage systemic risks in the Philippine financial system. The FSCC conducts the Survey of Salient Risks annually. The survey

captures views on risks that could affect the financial system over the next 12 to 24 months and the next three to six years.According to BSP, respondents are from universal/commercial banks, rural/cooperative banks, thrift banks, other BSP-supervised financial institutions, non-bank financial institutions, non-financial corporations, government agencies, insurance companies and the academe. FSCC Chairman and BSP Governor Eli M. Remolona Jr. said the FSCC “aims to proactively address risks through close monitoring, timely information sharing, and robust coordination among its members.” The Council also stressed the importance of early identification of risks, as this allows financial authorities and market participants to improve safeguards, refine contingency arrangements and limit the impact of shocks on households, firms, and financial institutions.

Financial system can absorb shocks

THESE risks were flagged by finan-

cial institutions even as the FSCC affirmed the Philippine financial system remains resilient despite a “challenging” global environment during its 46th Executive Committee meeting in Manila on September 2,2026. Remolona said: “Global risks remain elevated, with geopolitical tensions in the Middle East and volatile financial markets. Nonetheless, our financial system remains well-positioned to absorb shocks.” The Council noted that the financial system continues to be supported by “sound capital and liquidity positions, and prudent risk management.” “These strengths enable financial institutions to continue lending to households and businesses,” it explained further. According to the central bank, FSCC also noted that private-sector credit continues to grow at a “steady pace,” which reflects sustained household consumption and business financing needs. “Consumer lending continues to

support domestic demand, while corporate borrowing reflects firms’ investment and working-capital requirements. Real estate remains the largest component of banks’ loan exposures. Overall asset quality, however, remains stable,” the BSP said. At the same time, the central bank said the FSCC is taking steps to “further boost” its ability to identify emerging vulnerabilities early and increase the financial system’s capacity to manage potential shocks. “These measures include enhanced monitoring of non-bank financial intermediaries to support their sound and sustainable development,” the BSP noted. The Council is also improving data collection and information sharing among FSCC members. In addition, the FSCC is strengthening its assessment of liquidity, leverage, concentration, interconnectedness, and linkages among banks, non-bank financial intermediaries, corporates, and financial markets, the central bank said.

Govt falls short of bond borrowing goal Education woes: Violence in schools, poor outcomes By Reine Juvierre Alberto @reine_alberto

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HE Bureau of the Treasury (BTr) partially awarded bids on Treasury bonds (T-bonds) as investors demanded higher yields on the 4-year and 10-year securities amid elevated global bond yields and oil prices. Only P6.032 billion out of the P30billion borrowing program was raised by the Bureau of the Treasury on Tuesday, after it made a partial award of the 10year debt papers and fully rejected bids for the 4-year bonds. Had the 4-year government IOUs been awarded, the average yield would have jumped to 7.435 percent, with a high of 7.60 percent and a low of 7.275 percent. The 4-year average yield is 44.7 basis points higher than the 6.988 percent recorded in the previous auction for the same tenor a month ago. The debt papers, with a remaining term of three years and 10 months, attracted moderate demand, with bids reaching P21.6 billion relative to the

P20 billion offering. The 10-year average yield rose by 22.5 basis points to 7.525 percent from 7.3 percent a month ago. Accepted yields ranged from a low of 7.5 percent to a high of 7.550 percent. The 10-year T-bonds were 2.2 times oversubscribed, attracting P22.1 billion in total bids out of the P10 billion offering. Investors are less willing to commit money to longer-end tenors with some market risks to manage amid the recent developments in the Strait of Hormuz, said Michael L. Ricafort, chief economist at Rizal Commercial Banking Corp. The East-West pipeline was closed last week after several drones attacked the workaround for Strait of Hormuz flows, with Saudi Aramco yet to say when it may reopen, Bloomberg reported. This sent oil prices higher, fueling inflation concerns and strengthening the case for the US Federal Reserve to raise interest rates, and pushed yields on the benchmark 10-year US Treasury

to 5.02 percent—the highest since 2007. Ricafort also pointed to global bond market conditions in the rise in local bond yields, as the recent global bond selloff is driving long-term US Treasury yields significantly higher. Local bonds are not insulated, as yields have been increasing since the US and Israel attacked Iran in late February, disrupting the supply of Middle Eastern oil and gas. This also prompted the Bureau of the Treasury to reassess its plan to sell five-year jumbo bonds next week, with National Treasurer Sharon P. Almanza saying to Bloomberg that the government did not anticipate the further escalation of the Middle East war. The issuance is part of the government’s P2.733-trillion borrowing program this year, of which 70 percent will come from the domestic debt market while the remaining 30 percent will be sourced externally. As of end-July, the government has borrowed P2.112 trillion, or 77.27 percent of the borrowing target.

Moody’s set to acquire stake in PhilRatings

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OODY’S Corp. is taking a minority stake in Philippine Rating Services Corp. (PhilRatings) to expand its Asia-Pacific network of domestic rating agency affiliates. A statement issued by the global credit-rating giant on Tuesday read that its investment will support the development of the local debt capital markets, while complementing its global credit views with PhilRatings’ local-market expertise. Moody’s did not disclose the terms of the transaction. “Strong domestic debt markets are essential to supporting sustainable economic growth,” Wendy Cheong, Moody’s Ratings managing director and regional head of Asia Pacific, was quoted as saying.

“PhilRatings has built deep insight into the local market, and its ratings serve as a strong complement to Moody’s global views on credit for investors in the Philippines,” Cheong added. Moody’s noted the potential of the Philippine market, citing more than $100 billion of planned infrastructure investment in the country over the next three years. Credit ratings and research will be crucial in guiding issuers to access new sources of capital, develop funding strategies and signal transparency to support investor confidence as the country’s bond market continues to expand. In the Asean region, domestic corporate bonds outstanding are more than twice the size of cross-border holdings, Moody’s added.

“Moody’s Ratings’ global standards, best practices and technical support will help us advance our mission to strengthen the credit market infrastructure in the Philippines,” said PhilRatings President Angelica B. Viloria. “Moody’s role as a minority stakeholder reinforces our commitment to trust, credibility, and best‑in‑class credit ratings and research for the Philippine market.” PhilRatings, headquartered in Manila, will continue to operate independently following Moody’s investment, with its own management, governance and credit-rating processes. Moody’s said it is the first global credit rating agency to invest in a domestic credit rating agency in the Philippines. Reine Juvierre S. Alberto

Palace: Reforms will beef up govt tax take By Samuel P. Medenilla @sam_medenilla

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HE government has set its sights on more efficient tax administration and revenue from levies on digital services to offset the projected revenue loss from the scrapping of the 12-percent value-added tax (VAT) on system loss charge on electricity bills, according to Malacañang. Palace Press Officer Claire Castro said the Marcos administration is not looking at a new tax measure that will plug the revenue gap created by the VAT removal. “The BIR (Bureau of Internal Revenue) and the DOF (Department of Finance) have various ways to generate the funds needed to cover the P10

billion shortfall—such as proper tax administration, the collection of the correct taxes, and reforms regarding VAT on digital services,” she said in a press briefing last Tuesday. She said they are also banking on drawing more foreign investments into the country to raise government revenues. Castro said the government is still on the lookout for other sources of funds that will cover the removal of VAT on system loss charge. “The objective of this policy—to remove VAT from allowable system loss charges—is not to immediately figure out how to cover the potential revenue loss. What the President and the administration are considering is how to ease the burden on our fellow citizens regarding the high cost of basic goods, as high electricity bills would

only add to that strain,” she said. Last Monday, the BIR finally announced the removal of the VAT system loss charge on electricity bills to help reduce the financial burden of consumers. It is part of the implementation of the commitment made by the President in his fifth State of the Nation Address (SONA) last July to remove systems loss by amending Republic Act 9136 or the Electric Power Industry Reform Act (Epira). Marcos said he also wants to raise the income tax threshold from P250,000 to P350,000 and exempting micro and small enterprises from minimum corporate income tax. The government is expected to lose P326.92 billion worth of revenue from the said reforms.

FINEX FREE ENTERPRISE Zoilo ‘Bingo’ Dejaresco III

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N a span of two months, campus violence involving the youth exploded in Tacloban and Zamboanga- spiced by 5 campus stabbing incidents in between them. Some 50 violence-related incidents have been likewise on police blotter from January to August of 2026. What is happening? Many reasons have been cited, among them, the lack of parental supervision and bad influence of social media. Due to economic pressure, however, we have many solo parents or parents who went abroad to work, leaving the nurturing part missing. Nations like Indonesia and Australia have outlawed the use of social media for those below 15 years old. Yet sophisticated as it may be, Australia, per CNA TV, disclosed that still about 40 percent of those below 15 are still using the social media outlets today. Correctly identifying their age through their gadgets had posed technical difficulties to the Aussie authorities. Here, given the recent antecedents, Congress should immediately pass the appropriate amendments to “School Safety Act” pronto. Likewise, attention more to mental rather than intellectual attention must be forged on campus. For instance, ideally one Guidance Counselors is needed per 1,000 students. However, the Philippines has only 5,000 guidance counselors serving 47,000 public schools in the country. An additional 10,000 guidance counselors are needed to achieve the ideal ratio. But potential applicants are few and far between primarily due to the requirement that they must have a master’s degree (of a related field) to become one. Alternatives like hiring Counselor Associates is being worked out where an applicant who has 8 Behavioral Science units and a Civil service eligibility can be considered. Salary Grade 16 at P28,000 per month has been recommended for counselor associates. Hopefully, this will help remedy the gaping backlog in guidance counselors. For decades we have advertised the country as having a “sweet spot” with a large “working class” available for hiring. But that is a mirage since beginning 2018, the Philippines has been rated the lowest among

90 participating nations in the PISA (Program for International Student Assessment) marking proficiency in reading, math and science of 15-yearolds (junior and senior high school from 2019-2024). About 23 million were considered “functionally illiterate” so where is this “sweet spot”? We may have improved a lot in 2025 compared to the 2022 results but woefully, the Philippines’s ranking is still in the lower 70s out of 90 nations. What brought us to this? While other nations give an upper hand to those affecting social capital, our Education Budget for 2027 is 3.5 percent of GDP, lower than 4 percent in 2026, despite a clear Constitutional mandate that education must have the top billing in the General Appropriation Act (GAA). There also is the age-long problem of a deficiency of 141,000 classrooms. Rep. Roman Romulo warned that some 50,000 of the existing classrooms will be declared “condemned” by 2028 as they will be “50 years old” already. The Lower House must now pay attention to the proposed amendments to the “Adopt a Classroom Law” to determine better tax breaks and “naming rights” for the sponsoring private entities to help alleviate the shortage. Of course, everyone knows that the Philippines also has a shortage of teachers, many of whom are given extra administrative and election chores, leaving them exhausted and underpaid. Compounding the woes of Philippine education is the stunting due to malnutrition of children below 5 years old, which prevents them from achieving their full intellectual and physical potentials. It is a scientific fact one cannot argue against. The current attempt to address this is the government’s effort to “feed nutritionally” the kindergarten and Grade One public school students, which already costs us P27 annually. Could one imagine feeding well all children below 5 years old just to give them an even chance at making it in life? Resolving these problems require considerable investments. If the huge sums that went to flood control scams were channeled instead to education, we could have somehow addressed the pressing need to safeguard our precious human capital. Let’s shape up.

Bingo Dejaresco, a former banker, is a financial consultant and a media practitioner. He is a Life and Media member of Finex. His views here, however, are personal and do not necessarily reflect those of Finex. bingo8dejarescdo@gmail.com

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Show BusinessMirror

Wednesday, September 16, 2026 • Editor: Gerard S. Ramos

businessmirror.lifestyle@gmail.com • www.businessmirror.com.ph

Macklemore dropped from Ed Sheeran’s tour over pro-Palestinian comments onstage

NEW COUPLE ALERT?

HOW true is the rumor that the matinee idol and the singer are dating? This is not the first time the matinee idol has been linked to someone. It has happened a number of times. There are actually rabid shippers who have their own ideas of who the matinee idol is dating and except for a certain co-star, he has not indicated that he is or was interested in them. He is always polite and gentlemanly but also firm in saying if he is just friends with a girl. But the rumor about him and the singer is quite persistent so it’s interesting to see what happens next.

NOT A GOOD EMPLOYER

A CELEBRITY doctor reportedly has very high standards in hiring employees but does not pay much. In fact, their staff start at slightly minimum wage and this is for frontline jobs where employees are expected to look presentable. They are also made to do overtime without pay. The staff is also always reprimanded by the celebrity doctor and the clinics’ managers. Even doctors and managers are not spared by the celebrity doctor, who has a different public persona as a nice and amiable person.

IT’S A CULTURE THING

SO the reason why the former reality show star and his ex broke up was allegedly because of his abusive behavior. It’s not that he physically hurt her but that it’s more of him being controlling and verbally abusive. The guy’s not a Filipino and in his culture, this is mostly considered normal. The girl was shocked that the guy turned out this way because he seemed so easygoing and laidback in the beginning. Then, he started nitpicking over little things that she did and these small fights turned into big ones. Well, let’s just say this one celebrity, whose name was once linked to the guy’s, definitely dodged a bullet.

CHANGED APPEARANCE

AN actress has obviously had buccal fat removal and it makes her look unrecognizable. Some people will like that look and some people will dislike it. The actress is no stranger to cosmetic surgery but many feel that the recent one she’s had is not necessary. This is because her cheeks, which were a bit round, gave her a youthful and cute appearance. But perhaps now that the actress is older, she prefers a more mature look. She is still beautiful. She just looks different.

ROCHELLE PANGILINAN

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EW YORK—Macklemore said on Monday that he has been dropped from Ed Sheeran’s tour over pro-Palestinian comments made by the Grammy-winning rapper earlier this month onstage at New Jersey’s MetLife Stadium. Macklemore said on Instagram that several US venues told the promoter they would prohibit him from performing as Sheeran’s opening act for the Loop tour. As a result, he wrote, Sheeran’s team decided to remove him from the tour. That’s despite the fact that the rapper—best known for his breakout hit “Thrift Shop” and the same-sex marriage anthem “Same Love”—has been making similar comments about the plight of Palestinians for years. “So why is it an issue now? Because I’m sharing a stage with one of the biggest artists in the world, in some of the biggest stadiums in America,” Macklemore wrote. “At a certain level of exposure, ‘Free Palestine’ becomes too much of a risk.” A growing chorus of organizations and experts say Israel’s wartime actions in Gaza amount to genocide— an accusation Israel vehemently rejects. Sheeran has not commented and representatives for the singer did not immediately respond to emails seeking comment. The promoter, Messina Touring Group, confirmed in a statement to Rolling Stone that it had been notified by venues that “they will not allow a concert to take place with Macklemore on the lineup, which would result in the cancellation of the tour and impact hundreds of thousands of fans.” Among the venues is Gillette Stadium, home to the NFL’s New England Patriots. Owner Robert Kraft said the decision to cancel Macklemore was a result of his recent comments “and a broader history of antisemitic rhetoric and imagery that we believe has been deeply offensive and hurtful to the Jewish community.” “This decision is not about diminishing the suffering of innocent Palestinians or denying anyone the right to advocate on their behalf. Their pain and loss are real,” Kraft said in a statement Monday. Macklemore’s advocacy “should not come at the expense of the Jewish community or obscure the responsibility of Hamas,” Kraft said. The rapper, born Benjamin Hammond Haggerty in Washington state, exclaimed “Free Palestine” during the September 5 date of the tour while introducing his protest song “Hind’s Hall.” Written following the 2024

By Eugenia Last

CELEBRITIES BORN ON THIS DAY: Nick Jonas, 34; Alexis Bledel, 45; Amy Poehler, 55; Mickey Rourke, 74. HAPPY BIRTHDAY: Opportunity knocks; greet it with gratitude. Showing respect to others gives them dignity and a willingness to pitch in and help. A change of attitude surrounding health, financial and moral issues will encourage you to see all sides of whatever you encounter this year and determine what’s right and best for you. Put your energy into self-improvement, saving time and money, and pursuing something that fills you with passion. Your numbers are 7, 10, 18, 26, 32, 37, 45.

ARIES (March 21-April 19): Focus, and finish what you start. Don’t take on too much, or overreact to situations that might cause relationship problems. Pay more attention to how you feel, and strive to channel your energy into developing a healthy diet and regular exercise regimen. ★★

TAURUS (April 20-May 20): Spend more time working from home. Too much activity happening around you will be distracting. Working in conjunction with others will lead to pressure and disagreements. Confusion regarding events or activities you want to attend will leave you questioning what to do next. Avoid discussions with disgruntled associates. ★★★★

GEMINI (May 21-June 20): Keep your thoughts to yourself until you are ready to proceed. Taking on a new adventure will require time, money and networking with the right people. A change will point you in a new direction and encourage you to acquire additional knowledge, certifications or other qualifications necessary to achieve your goal. ★★★

CANCER (June 21-July 22): An open and honest approach to personal and professional affairs will help avoid discord. Use your charm and intellect to persuade others to support your plans. A direct approach will make you appear strong and in control, making others feel comfortable and encouraging them to pitch in and become team members. ★★★

LEO (July 23-Aug. 22): Whether it’s self- or home improvement, what you do will be noticed. Stand tall and be proud of what you can offer, and you will receive more than anticipated in return. Stick to the most genuine path to avoid being coerced into doing for others what you should be doing for yourself. ★★★

MACKLEMORE performs at Austin City Limits at the Moody Theater during the South by Southwest Music Festival on March 17, 2023 in Austin, Texas. AP

campus protests in support of Palestinians, it’s named for Hind Rajab, a 5-year-old Palestinian girl who was killed after Israeli forces fired on her family’s car in Gaza City. “To all of my Jewish brothers and sisters, criticism of Israel, criticism of apartheid, being against genocide, it in no way is criticism of you,” he said during the New Jersey concert. “This message is for peace, love, for all human beings to be treated with dignity, respect, and equality.” His comments drew criticism from fellow singer Pink, who herself then drew backlash. Macklemore said he holds no ill will toward Sheeran, who he considers a friend. “But as I told Ed multiple times on the phone, our friendship can’t change my responsibility to tell the truth about what happened,” Macklemore wrote. AP

ROCHELLE PANGILINAN CO-PRODUCES NEW SEXBOMB GIRLS SINGLE ‘MAMA MAMA’ AFTER two decades, the SexBomb Girls are officially back in the music scene with their latest single “Mama Mama,” marking a special new chapter for the group—and a significant milestone for founding member and leader Rochelle Pangilinan, who now takes on the role of co-producer. The SexBomb Girls last made major musical waves with releases, such as Sumayaw, Sumunod: The Best of the SexBomb Girls in 2005 and Daisy Siete: V-Day in 2006. Now, nearly 20 years later, Rochelle returns not only as a performer but also as

TODAY’S HOROSCOPE

part of the creative force behind their newest musical offering. For Rochelle, “Mama Mama” serves as a testament to how far she has come as an artist—from being one of the women who helped define the SexBomb era to embracing a bigger role behind the scenes as a producer. The new single comes with a music video that unites the SexBomb Girls with today’s rising P-pop acts, bridging two generations of Filipino pop while celebrating the group’s enduring bond, timeless appeal, and lasting

legacy. Since its release, the music video has already surpassed 2 million views, proving that the girl group continues to resonate with audiences today. With “Mama Mama,” Rochelle and the SexBomb Girls prove that some things only get better with time. After the massive success of their reunion concerts and the overwhelming response from fans, the girls are bringing that same energy back to music nearly 20 years later, showing that the SexBomb magic remains as strong as ever.

VIRGO (Aug. 23-Sept. 22): Take nothing for granted. Get ready to roll up your sleeves and do the work yourself. Take pride in what you do, and the rewards will be forthcoming. An opportunity to spend time with someone seasoned in areas you are lacking will be informative and encourage you to rethink how you want to pursue your dreams. ★★★★

LIBRA (Sept. 23-Oct. 22): Simplify your life and concentrate on getting things done on time, and you can avoid an altercation with anyone who may want to make you look bad. Keep your feet firmly planted on the ground and your mind focused on what’s necessary and how quickly you can achieve what you set out to do. ★★

SCORPIO (Oct. 23-Nov. 21): You need a break. Shake things up and redirect your energy toward something you feel enthusiastic about, and the tables will turn. Protect yourself from those who seek an altercation or offer temptations that are likely to jeopardize your career, reputation or health. ★★★★★

SAGITTARIUS (Nov. 22-Dec. 21): Change your surroundings to make your life easier and more comfortable. Stop worrying about what others want, say or do when your focus should be on doing what’s best for you. Equip yourself with the fundamentals you require to live the life that makes you feel good about yourself and look forward to each day with gratitude. ★★★

CAPRICORN (Dec. 22-Jan. 19): Get out and communicate with people who share your interests. What you learn will help you configure the best way to improve your life. Traveling, reuniting with people from your past and paying more attention to those you care about most will help you get your life in order and your plans in place. ★★★ AQUARIUS (Jan. 20-Feb. 18): Today is all about how you make and spend your cash. Cap your expenditures and lower your overhead by incorporating frugal habits into your lifestyle. Look for higherpaying jobs, send out resumes and network with people who share your skills, and you’ll gain insight into who’s hiring and what companies expect of you in today’s market. ★★★

PISCES (Feb. 19-March 20): Mix business with pleasure and expand your connections and ability to get ahead. Discipline and hard work alone aren’t enough; you also need allies and a desire to stay on top of the latest and greatest technology to take advantage of new opportunities. ★★★★★ BIRTHDAY BABY: You are energetic, opportunistic and independent. You are hardworking and insightful.

‘keep digging’ BY HANH HUYNH

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 “Keep it together!” 7 Comes up 13 Unexpectedly amusing results 15 WNBA Hall of Famer Weatherspoon 16 Raggedy 18 “The wait is over!” 19 90 degrees from norte 20 Ari’s “Wicked” role 22 Wii avatar 23 Officially off duty, for a service member 25 “Hedda Gabler” playwright Henrik 27 Film festival city 29 Gymnastics competition section 31 30-Down, for one 32 ___ table (item that should be upright for takeoff) 33 Wookieepedia, for one 37 Floral ring 38 Big steps 41 Noted red pill taker of film 42 Top that reveals the biceps 44 Capital of Latvia 45 Had food

47 Result of plotting 49 Sharp ends of an eagle’s feet 50 Selected 53 Venetian betrayed by Iago 55 Blanket monopolist 56 Chocolatier founded in Belgium 58 Mode who outfitted the Incredibles 61 “Oh, dang!” 63 Dynamite who voted for Pedro 65 Cry from someone who finally understands 66 Permission 67 “Everything about this is wrong!” 68 Dakota tent: Var. DOWN 1 Vampire’s mark 2 Notable periods 3 ___ on to (beginning to understand) 4 Insect sensor 5 Make things up 6 Moves from the on-ramp 7 Somewhat 8 30-Down part 9 Non-virtually, for short 10 Stitches on a baseball

11 L’Oreal nail polish brand 12 New Orleans football pro 14 Actress Ward 17 Supposed source of a monarch’s authority 21 Reno’s state 24 Zoom ___ 26 “Also ...” in a text 27 Young stallion 28 Region 30 Peeper 32 Streamer’s stand 34 No longer able to back out ... and a hint to the starred clues’ answers 35 Perceptive 36 Charged particles 39 ___-la-la 40 Clapping, barking mammal 43 Metric scale units: Abbr. 46 “If ___ fails ...” 48 Capital of Saskatchewan 49 Short and stout vessel 50 Great Wall’s location 51 “What do you mean by that?” 52 Punny poet Nash

54 Part of a building’s infrastructure, for short 57 Tom Hanks title role of 2022 59 Not any 60 Penny, in a low-stakes poker game 62 ___ Speedwagon 64 Word said with a raised index finger, perhaps

Solution to today’s puzzle:

Image BusinessMirror

www.businessmirror.com.ph • businessmirror.lifestyle@gmail.com

Editor: Gerard S. Ramos • Wednesday, September 16, 2026

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Mistake-filled legal briefs show the limits of relying on AI tools at work NATURAL WAYS TO UNCLOG A STUFFY NOSE, ACCORDING TO MAKATIMED

IT begins with a sore or itchy throat, a mild headache, constant sneezing, achy joints and muscles, and a feeling of being unwell. Before you know it, you have a cold and just as annoying as a runny nose is a stuffy one, because it makes your head feel heavy and breathing difficult. “While most people think it is due to an excess production of mucus, a blocked nose or nasal congestion is your immune system’s response to the presence of the cold virus in your nasal lining,” according to Paulo Angelo D.C. Catindig, MD, an otorhinolaryngologist of the clountry’s top hospital Makati Medical Center (MakatiMed, www.makatimed. net.ph). “As the immune system releases white blood cells to fight the infection, the blood vessels in your nasal passages become inflamed and swell. This narrows the airways, leaving little room for air and mucus to pass through. This results in the stuffiness you experience.” A common cold lasts between 7 and 10 days; until then, there is no need to suffer through the stuffiness. “Nonprescription decongestants [in pill, syrup, and nasal spray form] work by shrinking swollen vessels in your nasal passages,” says the MakatiMed doctor. “Look for ingredients like phenylephrine or pseudoephedrine, but take them only as prescribed in the package or by your doctor.” A number of home remedies have also been known to help clear clogged nasal passages and make you breathe better: n Nasal inhalers, like the popular Hong Thai and Vicks, combine ingredients like camphor, menthol, and natural herbs that provide a refreshingly cool sensation when inhaled through each nostril. “It does not unclog the nose but rather gives a quick, temporary relief from the stuffiness,” explains Catindig. n Steam inhalation involves pouring boiled water into a large bowl, placing the bowl on a steady, flat surface, and leaning over the bowl while draping a large towel or blanket over the back of your head to trap the rising moisture. “Keep your eyes closed and your face about 12 inches away from the boiling water,” advises Catindig. “Inhale slowly through your nose. The steam softens and loosens thick, trapped mucus, allowing you to breathe better.” Again, this does not cure the underlying cause of your cold, but it does relieve you of the congestion, albeit temporarily. n Food is also an effective way to address nasal congestion. “Hot soups and broths soothe a sore throat, and the steam can unclog a stuffy nose,” points out Catindig. “Add a bit of spice to the soup, as they help thin mucus, lessen nasal swelling, and stimulate sinus drainage.” The steam from hot tea has the same effect; choose flavors with peppermint and ginger, which act as a natural decongestant. Getting adequate rest can hasten recovery from a cold and the stuffy feeling that comes with it. “Remember, this is just temporary,” says Catindig. “With these home remedies and a few days at home, you will be breathing better in no time. See your doctor if your cold does not improve after 10 days and if it comes with symptoms like a fever, a persistent sore throat, pain in the ear, and difficulty breathing.”

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By Cathy Bussewitz The Associated Press

EW YORK—Judges around the world are dealing with a growing problem: legal briefs that were generated with the help of artificial intelligence and submitted with errors such as citations to cases that don’t exist, according to attorneys and court documents. The trend serves as a cautionary tale for people who are learning to use AI tools at work. Many employers want to hire workers who can use the technology to help with tasks such as conducting research and drafting reports. As teachers, accountants and marketing professionals begin engaging with AI chatbots and assistants to generate ideas and improve productivity, they’re also discovering the programs can make mistakes. A French data scientist and lawyer, Damien Charlotin has catalogued at least 490 court filings in the past six months that contained “hallucinations,” which are AI responses that contain false or misleading information. The pace is accelerating as more people use AI, he said. “Even the more sophisticated player can have an issue with this,” Charlotin said. “AI can be a boon. It’s wonderful, but also there are these pitfalls.” Charlotin, a senior research fellow at HEC Paris, a business school located just outside France’s capital city, created a database to track cases in which a judge ruled that generative AI produced hallucinated content such as fabricated case law and false quotes. The majority of rulings are from US cases in which plaintiffs represented themselves without an attorney, he said. While most judges issued warnings about the errors, some levied fines. But even high-profile companies have submitted problematic legal documents. A federal judge in Colorado ruled that a lawyer for MyPillow Inc. filed a brief containing nearly 30 defective citations as part of a defamation case against the company and founder Michael Lindell. The legal profession isn’t the only one wrestling with AI’s foibles. The AI overviews that appear at the top of web search result pages frequently contain errors. And AI tools also raise privacy concerns. Workers in all industries need to be cautious about the details they upload or put into prompts to ensure they’re safeguarding the confidential information of employers and clients. Legal and workplace experts share their experiences with AI’s mistakes and describe perils to avoid.

THINK OF AI AS AN ASSISTANT

DON’T trust AI to make big decisions for you. Some AI users treat the tool as an intern to whom you assign tasks and whose completed work you expect to check. “Think about AI as augmenting your workflow,” said Maria Flynn, CEO of Jobs for the Future, a nonprofit focused on workforce development. It can act as an assistant for tasks such as drafting an email or researching a travel itinerary, but don’t think of it as a substitute that can do all of the work, she said.

CHECK FOR ACCURACY

FLYNN also has found problems in the output of the AI tool, which still is in a pilot stage. She once asked it to compile information on work her organization had done in various states. But the AI tool was treating completed work and funding proposals as the same thing. “In that case, our AI tool was not able to identify the difference between something that had been proposed and something that had been completed,” Flynn said. Luckily, she had the institutional knowledge to recognize the errors. “If you’re new in an organization, ask coworkers if the results look accurate to them,” Flynn suggested.

BE CAREFUL WITH NOTETAKERS

IT can be tempting to use AI to record and take notes during meetings. Some tools generate useful summaries and outline action steps based on what was said. But many jurisdictions require the consent of participants prior to recording conversations. Before using AI to take notes, pause and consider whether the conversation should be kept privileged and confidential, said Danielle Kays, a Chicago-based partner at law firm Fisher Phillips. Consult with colleagues in the legal or human resources departments before deploying a notetaker in high-risk situations such as investigations, performance reviews or legal strategy discussions, she suggested.

PROTECTING CONFIDENTIAL INFORMATION

IF you’re using free AI tools to draft a memo or marketing campaign, don’t tell it identifying information or corporate secrets. Once you’ve uploaded that information, it’s possible others using the same tool might find it. That’s because when other people ask an AI tool questions, it will search available information, including details you revealed, as it builds its answer, Flynn said. “It doesn’t discern whether something is public or private,” she added.

PHOTO BY HELMUT BARROSO ON UNSPLASH

SEEK SCHOOLING

IF your employer doesn’t offer AI training, try experimenting with free tools such as ChatGPT or Microsoft Copilot. Some universities and tech companies offer classes that can help you develop your understanding of how AI works and ways it can be useful. A course that teaches people how to construct the best AI prompts or hands-on courses that provide opportunities to practice are valuable, Flynn said. Despite potential problems with the tools, learning how they work can be beneficial at a time when they’re ubiquitous. “The largest potential pitfall in learning to use AI is not learning to use it at at all,” Flynn said. “We’re all going to need to become fluent in AI, and taking the early steps of building your familiarity, your literacy, your comfort with the tool is going to be critically important.”

A former seafarer’s cruise to lifelong learning WHILE life at sea is often romanticized for the global travel it entails, endless open ocean adventures, and attractive salary, the maritime career of Malateraised hospitality visionary Ryan Khimpy Rabe was far from easy. At 18 years old, he dropped out from school to embark on his storied seafaring journey, where he joined an international cruise line in 1999. “I left college and applied to work on cruise ships—partly because several relatives and family friends were in the field of hospitality,” he disclosed. Ryan built his career from the bottom up (he began as a pot washer in Seaborne Cruise Line) and wore many hats over the next 15 years. He continued to earn a living as a dishwasher, utility galley staff, garbage collector, housekeeping attendant, bellman, and butler. He eventually rose to become head concierge. His ocean-bound occupation brought him to over 60 countries, as he engaged with colleagues from various backgrounds and cultures, and crafted memorable guest experiences. “My hospitality career, first aboard cruise ships and later in the Philippines, enabled me to travel the world while providing a secure, comfortable life for my family,” he shared.

➊ One of the perks of his job was meeting the beloved American talk show host Oprah Winfrey in 2007, during her private 14-day Mediterranean cruise. “I served several high-profile celebrities throughout my cruise career, yet Oprah’s warmth and presence made her the most memorable,” Ryan revealed. “The success of that particular voyage led to additional VIP assignments. This ultimately opened the door for me to transition into an executive role back in the Philippines.” When he returned to the country in 2014, Ryan served as an assistant vice

president and director at a well-known leisure and entertainment facility in Pasay City. He later became the Director of Operations at a premier luxury hotel in Manila in 2016. Amid a successful career in the industry, Ryan aspired to convert his professional exposure into a formal bachelor’s degree. He turned to the Expanded Tertiary Education Equivalency and Accreditation Program (ETEEAP) offered at the De La SalleCollege of Saint Benilde. The alternative learning program deputized by the Commission on Higher

➋ Education allows individuals to obtain an academic degree through an assessment process which recognizes and credits prior knowledge and skills gained from relevant work experiences or formal, nonformal and informal trainings. According to him, his degree in the Hotel and Restaurant Institution Management program developed his competency in operations, service management, and team leadership. “ETEEAP likewise boosted my credibility with senior leaders and widened my professional network, opening doors to executive roles,” Ryan

said. “It profoundly influenced my appreciation for hospitality by validating that frontline service is both an art and a science, requiring rigorous standards to deliver exceptional experiences consistently.” This enabled him to finish his Master in Business Administration from the Ateneo Graduate School of Business. His educational credentials further solidified his prospects for promotion and longterm career growth. At present, the 45-year-old administrator has been appointed as the vice president and head of the support services group at St. Luke’s Medical Center, where he integrates his expertise in hospitality into healthcare. “My long-term career plan is to grow into an executive leader who champions a culture of empathy and care, ensuring our people and systems work together seamlessly to elevate the overall human journey,” Ryan expressed. When asked about his advice to professionals too busy to pursue education, he had this to say: “Obtaining your diploma will ultimately elevate your leadership capabilities, empowering you to bring fresh ideas, modern technology, and a high-caliber standard of execution back to your industry.”

➊ RYAN

KHIMPY RABE, vice president and head of support services group at St. Luke’s Medical Center, 2026

➋ RYAN with

Oprah Winfrey— Norwegian Cruise Line, June 2009

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Wednesday, September 16, 2026

Cisco, Metro Cebu Water District transform water infrastructure to reduce water wastage

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isco announced a strategic collaboration with the Metropolitan Cebu Water District (MCWD) to modernize the city’s water infrastructure. MCWD will use Cisco’s networking and industrial edge technologies to reduce non-revenue water (NRW), treated water that is lost before it reaches the consumer, by 15 percent across its distribution network. This initiative, under the Cisco Country Digital Acceleration (CDA) program, marks a significant step in securing the region’s water supply, with the aim to protect and efficiently deliver critical resources to the communities that need them most. Metro Cebu is under significant water stress, with around 32 percent of supply lost due to aging infrastructure like old valves and pipelines. Pressure fluctuations and leaks often go unnoticed, hindering MCWD’s ability to meet the growing demand. Cisco is implementing a secure, endto-end industrial architecture that uses smart sensors to track water flow and pressure conditions in real time. The data is funneled into a centralized supervisory control and data acquisition (SCADA)

PhilHealth joins Handog ng Pangulo, brings YAKAP to schools, workplaces nationwide

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platform to provide operations teams with a live, end-to-end view of the network. This allows them to catch anomalies such as sudden pressure drops or unusual flow patterns before they trigger costly pipe bursts or impact the population. Underpinning the architecture is industrial-grade secure networking, including firewalls and zero-trust access, to ensure that only authorized personnel and devices can manage this critical infrastructure. This architecture is also built to support AI-driven analytics, enabling MCWD to move beyond simple anomaly detection toward anticipating issues before they occur. This allows MCWD to protect the network against water loss and operational disruptions. “Metro Cebu continues to face increasing pressure on its water resource management and reducing operational losses is critical to ensuring long-term supply reliability,” said Atty. John DX S. Lapid, General Manager of

MCWD. “With Cisco’s technology, we now have real-time insight into our distribution system, allowing us to respond faster to issues and deliver more efficient, reliable water services across Metro Cebu.” “Cisco’s real-time intelligence across MCWD’s infrastructure will strengthen the community’s resilience. That’s what the digital era is about: secure, connected technology solving real problems, improving lives, and narrowing the digital divide.” said Zaza Soriano-Nicart, Managing Director, Cisco Philippines. “This collaboration also sets a benchmark for our public utilities, showing how technology can modernize operations and support broader sustainability goals.” The solution will be piloted in the F. Pacaña area. Designed to be scalable, it provides a framework that allows MCWD to expand visibility and NRW reduction across Metro Cebu without having to redesign its systems from the ground up.

Bendicta‘Dick’Du-Balalad unveils debut solo exhibition‘A Blissful Coexistence’

In the photo are, from left, Ian Mathay (SAVPOperations, SM Premier 2), and with the artist’s children, Benedict Baladad (Owner of Bien Bakes), Berton Baladad, Rachel Baladad (CFO of Healthy Top Harvest Distribution, Inc. or HTHD, Benedicta Du-Baladad (Artist), Bryan Baladad (CEO and Managing Director of HTHD, Benjamin Baladad and Michael Albana (CEO of AB Plus Consultancy, Inc.)

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MERGING Filipino contemporary artist Benedicta “Dick” Du-Baladad formally enters the Philippine art scene with her first solo exhibition, “A Blissful Coexistence,” a substantial collection of nearly 80 works celebrating the beauty, vitality, and interconnectedness of the natural world. Opened last September 9, 2026, the exhibition brings together years of Du-Baladad’s quiet and deeply personal artistic practice. The collection spans oil, acrylic, mixed media, works on paper, and smaller-format pieces, offering audiences an intimate look into an artistic language shaped by nature, intuition, color, and texture. Curated by Randel Urbano, A Blissful Coexistence explores the relationship between humanity and the organic world, reflecting on how people inhabit shared spaces and how seemingly opposing forces

can exist together in harmony. Du-Baladad draws much of her inspiration from the Philippines’ rich tropical environment. Flowers, foliage, birds, butterflies, and pollinators recur throughout her compositions, transformed through vivid colors, layered textures, expressive brushwork, and an interplay of light and shadow. “Even when I try painting something subdued or muted, I eventually find myself adding more color. I want the work to feel alive,” Du-Baladad shares. “To me, flowers are living beings with their own voice, and vibrant color is how I allow that voice to be heard.” Du-Baladad brings an unusual perspective to contemporary art. A practicing accountant and lawyer, she has spent decades working in professions defined by precision, structure, logic, and discipline. Yet it is this highly analytical background that provides a counterpoint to the intuitive freedom of her artistic practice. Largely self-taught, Du-Baladad has also pursued international organizations and professional development opportunities to further refine her craft. Her paintings reveal a balance between calculated composition and spontaneity—between structure and instinct. Rather than separating these two aspects of her life, she embraces their coexistence. “My creative process is intuitive and contemplative,” Du-Baladad explains. “I build each painting gradually, allowing layers of color, texture, and form to evolve organically. I’m drawn to the balance between structure and freedom—the discipline that gives a work direction and the creative instinct that allows it to take on a life of its own.” The exhibition includes several bodies of work, among them the “Where Petals Breathe Series,” which explores flowers and organic forms in motion, and the “Garden of Thoughts

Series,” where female figures, floral imagery, and pollinators come together in richly layered compositions. Working with both acrylic and oil allows Du-Baladad to combine immediacy and depth. Acrylic captures spontaneous gestures and establishes structural layers, while oil introduces luminosity, richness, and tactile dimension. Beyond its visual celebration of nature, A Blissful Coexistence carries a broader message about humanity’s relationship with the environment. For Du-Baladad, nature is neither merely decorative nor something to be possessed. It represents a larger living system to which humanity belongs. “We are surrounded by life that is not ours to possess, but ours to appreciate, respect and protect,” she says. “Nature reminds us that we are part of something far greater than ourselves—an intricate world in which every living form has its own purpose, beauty and place.” At a time increasingly marked by environmental concerns, fragmentation, and digital isolation, the exhibition offers a meditation on connection and coexistence. Its flowerscapes, figures, birds, and pollinators become reminders of the interdependence that sustains the natural world. “A Blissful Coexistence is ultimately about more than simply living alongside nature,” DuBaladad adds. “It is about recognizing that we belong to the same living world and that its beauty, vitality and future are something we all share and have a responsibility to protect.” Through her debut exhibition, DuBaladad invites audiences to rediscover the natural world not simply as something to observe, but as something of which humanity is an inseparable part.

RESIDENT Ferdinand R. Marcos Jr. continued to push for more accessible primary health care for Filipinos nationwide through Handog ng Pangulo (HNP). As part of the celebration, the Department of Health and the Philippine Health Insurance Corp. (PhilHealth) brought YAKAP and other health services to schools and workplaces across the country on September 14, 2026. With the participation of 257 YAKAP clinics with partner GAMOT providers, PhilHealth offered the following services at all HNP sites: member services, YAKAP selection and empanelment, consultation, claiming of free medicines through GAMOT, and PSA registration support.

The EV warranty game: VinFast’s unrivaled 10-year warranty is the ultimate dealmaker in local EV shift

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RIVEN by consumers’ demand for better assurance, VinFast is strengthening its ownership system with the best warranty offer in the local electric vehicle sector. The fast-rising BEV brand’s 10-year vehicle and battery coverage plan sets a new standard for long-term reliability that directly eliminates the primary anxieties associated with transitioning to smart mobility in the Philippines. As Filipino motorists increasingly consider making the switch to electric vehicles, the purchasing decision has moved well beyond car designs, infotainment screens, and all-around specs. For first-time EV buyers, questions around battery longevity, replacement costs, and the reliability of newer technologies can weigh just as heavily on the decision. A 2026 Deloitte study shows that 41 percent of Filipinos point to the eventual cost of battery replacement as a primary concern when considering an EV. These concerns highlight why long-term protection can play a critical role in helping Filipino motorists make the shift to electric. VinFast’s localized approach in the Philippine market demonstrates exactly how a vehicle and battery warranty of up to 10 years can help address one of the biggest uncertainties surrounding EV ownership. Consumers place a tangible financial premium on extended protection, particularly when it comes to adopting new technology. An econometric study of the US car market revealed that consumers are willing to pay a median of about $850 for just one additional year of warranty coverage, with the value of warranty protection rising significantly for vehicles perceived to have uncertain reliability. For the Philippine EV market, where battery longevity remains a primary concern – underscored by a 2026 Agile Data Solutions study that found 20 percent of Filipino consumers cite battery lifespan and replacement costs as a major pain point in switching to EVs – a longer warranty can provide a more tangible form of reassurance than standard coverage This is the driving force behind VinFast offering vehicle warranties of up to 10 years in the Philippines, alongside battery coverage of up to 10 years or 200,000 km for vehicles purchased with the battery included. For buyers still weighing the risks of adopting a relatively new technology, that extra protection can help make the decision to go electric easier.

DQ’s Breakout Blizz is for those moments when you can’t help but say ‘DQ na kaya’

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E’VE all had those moments where our brains just completely run out of RAM, our inboxes are basically screaming at us, and we find ourselves sitting in meetings and lectures nodding along to things we don’t even remotely understand. We could try to sit there and do those deep breathing exercises people always talk about, or we can

just give in to the simple, guilty pleasures that actually make us happy. You know, like ice cream! When life gets ridiculously loud and overwhelming, you can always count on DQ for your well-deserved break from, well, everything, with sweet treats to help you hit pause and enjoy a brief, guilt-free escape from the daily grind. And with the new Breakout Blizz collection, you have the perfect excuse to finally slow down and live in the moment! Made in collaboration with KitKat, the new Breakout Blizz collection features six irresistible desserts centered around the iconic chocolate wafer biscuit. KitKat has always been known for perfectly locking down the whole “take a break” vibe, and this team up with DQ will surely elevate your well-deserved ice cream breaks, making them more indulgent and satisfying! Treat yourself to a fun little recess and dig into the rich, saltysweet swirls of the new Caramel Almond Chill Blizzard (starts

“We want to bring YAKAP to where Filipinos already are. We are working with the DOH, under UNA, to promote a holistic approach to health in schools, workplaces, and communities where you have health promotion interventions and primary care services available,” said PhilHealth Acting President and CEO Dr. Beverly Ho. “On this day, we want to show the member experience that we are working toward. Access to primary care services should be this easy for all Filipinos.” For further details on YAKAP na Handog ng Pangulo venues, members may call PhilHealth’s 24/7 touch points at (02) 8662-2588 or visit PhilHealth Facebook Page @PhilHealthOfficial.

at P119), made with DQ’s signature vanilla soft serve mixed with caramel fudge, chopped almond nuts, chocolate fudge, and KitKat pieces, and then topped with a caramel-chocolate drizzle and half a KitKat piece! Drop everything now and dive straight into a vibrant, fruity dessert with the new Berry Much Done Blizzard (starts at P119), made with DQ’s signature vanilla soft serve mixed with blueberry syrup, mini marshmallows, and KitKat pieces, and then topped with a blueberry drizzle and half a KitKat piece! Take a timeout and savor the new Tired-MeSu Blizzard (starts at P119), made with DQ’s signature vanilla soft serve mixed with coffee concentrate, cheesecake bits, and KitKat pieces, and then topped with even more cheesecake bits and half a KitKat piece! For a quick selfie break, you’ll never go wrong with the new Caramel Almond Chill Parfait (P189), featuring layers of DQ’s signature vanilla soft serve with caramel fudge,

When a new automotive brand enters the market, a comprehensive warranty can help offset the absence of decades of local track record. A study of over 9,000 usedcar auctions found that cars sold with a warranty achieved prices 11 percent higher than those without. The effect was even more pronounced for sellers with no established transaction history, where the estimated warranty premium reached 60 percent. For the influx of emerging EV brands in the Philippines, a long-term warranty gives buyers a concrete form of protection when choosing a less familiar brand. This is relevant given the findings of PwC’s 2025 ASEAN-6 eReadiness report, which highlights that while newcomer EV brands are rapidly challenging legacy automakers in the region, consumer skepticism toward these new entrants remains a critical hurdle for broader adoption in the Philippines. In this context, a 10-year warranty is more than a coverage period. It becomes a tangible signal of a brand’s confidence in its vehicles and its commitment to supporting owners over the long term. The concerns around EV ownership do not necessarily end with the first owner. In a Green Finance Institute survey, 62 percent of drivers without an EV cited battery lifespan as a major concern when considering a used EV. Unlike traditional ICE vehicles, a second-hand EV buyer cannot simply check the oil or listen to the engine to judge battery health. This makes long-term warranty coverage particularly relevant to an EV’s resale story, especially when that protection can extend to the vehicle’s next owner. VinFast further addresses concerns around EV depreciation with its Residual Value Guarantee program, which guarantees eligible first-owner vehicles up to 90 percent of their original net retail price after six months, with the guaranteed value scaling to 70 percent after three years. Ultimately, an extended warranty is only as useful as the brand’s operational ability to honor it. In the Philippines, industry reports continue to identify charging infrastructure and range anxiety as key barriers to wider EV adoption, making the ownership ecosystem just as important as the protection itself. VinFast ensures its 10-year coverage is not just a paper promise by backing it with an expanding after-sales network, dedicated roadside support, and highly accessible charging solutions. Anchoring this commitment, VinFast offers free unlimited charging at V-Green stations until March 31, 2029, alongside complimentary accessories like a home wall charge with installation. The V-Green network currently operates 137 charging stations across 22 key areas nationwide, including Cebu and Mindanao. Taken together, these measures address the financial and practical uncertainties that can hold prospective EV buyers back. And at the center of that proposition is a 10year warranty — helping push the EV buying decision forward and giving more Filipino motorists the confidence to make the switch to electric.

chocolate fudge, chopped almond nuts, and KitKat pieces in between, and then topped with whipped cream! Or take your sweet time with the new Mudpie Me-Time Tin Cake (P439), a 100-percent ice cream cake made with DQ’s signature soft serve, chocolate fudge, coffee concentrate, and KitKat pieces, all in a to-go tin can so you can enjoy it at your own pace! And finally, take a breather with the whole gang with the new Cherry-Out-Here Blizzard Cake (starts at P749), a 100-percent ice cream cake made with DQ’s signature soft serve, cake crunch, and chocolate fudge, made even more delectable with frosting, cherries and KitKat pieces! Enjoy these new offers together with your other favorites from DQ by visiting your nearest store today for dine-in or takeout or have them delivered straight to your doorstep by ordering through DQ’s official delivery partners GrabFood, foodpanda, and Pickaroo (prices may vary). Stay updated about anything and everything DQ by following the brand and giving a like on Facebook, Instagram, and X!

BusinessMirror

Editor: Tet Andolong

Century Properties takes its premium playbook to General Trias, Cavite

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ENTURY Properties Group (CPG) is pushing deeper into the Calabarzon area, officially unwrapping its new premium housing bet in General Trias, Cavite. The Antonio-led developer formally opened the show village for Cerulean Residences on Saturday, moving the 25-hectare, 1,100-home project from the drawing board to reality. With a P5.6-billion capital outlay, the development— soft-launched in February under Century Limitless Corp.—forms a major part of CPG's strategy to expand its presence in high-growth corridors outside Metro Manila. “Opening the Cerulean show village is how a project stops being a plan and starts being a place,” CPG Managing Director Carlo Antonio said, noting that letting buyers physically walk through the houses is what shifts a project from renderings to real market traction.

A two-pronged approach

CERULEAN sits in CPG’s premium tier, running alongside the aggressive nationwide rollout of its affordable first-home brand, PHirst. The company is essentially hitting the Cavite market from two sides, aiming to capture different income brackets in the same area. “By balancing our PHirst and Premium residential segments, we are able to sustain growth while expanding our footprint,” Antonio said. “General Trias is a clear illustration of that approach. We are present in the same corridor at two distinct price points.” Beyond being a residential enclave, the estate includes a planned commercial hub, envisioned to turn the area into a self-sustaining neighborhood for both residents and the surrounding community.

Riding the infra wave

CPG’S move into General Trias is a calculated bet on Southern Luzon's ongoing infrastructure boom. Located in Barangay San Francisco along

Arnaldo Highway, the project is just a stone's throw from the newly opened Governor’s Drive exit of the Cavite-Laguna Expressway (CALAX). The estate is banking on CALAX and CAVITEX to continuously shorten the travel time between Cavite and the capital. It also taps into an established local economy. With hubs like Gateway Business Park and the New Cavite Industrial City nearby, the area is already teeming with commercial and industrial activity. “General Trias is a location that the market has already chosen,” Antonio pointed out. The jobs and connectivity are already there, he added, but noted a gap in the local real estate market. “What has been missing is premium residential supply that matches the profile of the people already living and working in this corridor.”

Resort-style living, but make it horizontal

WHILE CPG made its name on high-rise urban developments, it’s translating its signature resort-inspired amenities into a traditional house-and-lot format. Taking cues from the company's past awardwinning projects like Azure and Acqua, Cerulean will feature over 1,100 two-storey homes designed with modern, expandable layouts for growing families while also offering the convenience of a perimeter fence, a gate, and a 2-car garage with an EV charger provision already built-in upon delivery. The community will center around active zones, green spaces, and water attractions. “Our premium segment has always been built on differentiation rather than volume alone,” Antonio said, emphasizing that the project applies four decades of condo and community design to a horizontal format. “We are creating more than just houses, we are giving families the opportunity to truly move up.” The Cerulean Residences Show Village is now open to visitors in General Trias, Cavite.

CENTURY Properties and General Trias, Cavite Local Government officials officially launch Cerulean Residences, the developer’s 25-hectare premium horizontal residential development. (From Left) Engr. Xerxes Delgado–CPG Head of Project Development and Technical Operations Division, Arch. Bernard Artates– CPG Head of Design and Innovation Group, Jennifer dela Cruz–CPG SVP for Corporate Growth Strategy, San Franciso, General Trias Barangay Chairman, Kap. Ryan T. Cantor, Julienne M. Cruz–CPG Vice President Corporate Communications and Marketing, and Engr. Lauro Reyes–CPG Head of Construction Management.

Wednesday, September 16, 2026 B7

I-Land Residences Sucat redefines vertical, sustainable living

I-LAND Residences Sucat’s clubhouse is the heart of the community, with facilities and amenities that make good on its promise of a sustainability-focused urban lifestyle.

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By Rizal Raoul S. Reyes

THE first of I-Land Residences Sucat’s six towers, Lime, has now been sold out and is now home to more than 500 residents.

@brownindio

OR a big number of Filipino homebuyers, choosing a residence is not only limited by location, floor area or price. As urban living becomes denser, consumers are also looking for homes that support healthier lifestyles while reflecting a growing awareness of environmental responsibility. The landscape of vertical living in the south of Metro Manila is undergoing a quiet but significant evolution, driven by a growing consumer demand for residential spaces that prioritize environmental responsibility alongside modern community wellness.

Leading the charge BOUTIQUE developer ISOC Land is leading the shift to vertical and sustainable living by announcing major development milestones for its flagship mid-rise community, I-Land Residences Sucat in Parañaque City. The independent real estate firm confirmed that the first of its six master planned towers, Lime, has officially sold out its inventory of 308 units, while its second structure, Olive, has been completed and has commenced unit turnovers to buyers since June. Michael Cosiquien, chairperson of ISOC Land parent, ISOC Holdings said the back-to-back milestones serve as a robust market validation for value-for-money, mid-income developments that depart from standard concrete

footprints to offer legitimate, ecosensitive alternatives. “Our goal from the very beginning was not merely to build dwellings, but to introduce a sustainable lifestyle that Filipino family dynamics naturally gravitate toward,” said Cosiquien. “The complete sell-out of Lime Tower and the steady influx of residents moving into Olive Tower show us that the local market deeply values wellness and deliberate property layout over standard density. Buyers are actively choosing communities where they can truly plant roots,” he added.

Everyday wellness I-LAND Residences Sucat currently counts more than 500 residents, establishing a strong foundation of a diverse community of modern homeowners—starting families as well as independent professionals and city dwellers who all share ISOC Land’s orientation toward urban wellness. Cosiquein said the strategy is consistent with ISOC Land’s positioning of the project as a multigenerational community where

ACTUAL photo of I-Land Residences Sucat’s tower atrium, which boasts of a single-loaded corridor design with natural light. sustainability, wellness and social interaction are integrated into the residential experience. To support this rapid transformation, Cosiquien said the developer is fast-tracking key amenities and components of its master plan focused on holistic lifestyles. Among these is a dedicated pet park, slated for completion ahead of the fourth quarter. ISOC Land has also been organizing numerous community events that contribute greatly to fostering social interaction. He said the inclusion of spaces such as the pet park emphasizes the community's overarching master plan: combining everyday conveniences with outdoor recreation. In a dense city environment, ISOC Land prioritizes access to dedicated, open-air wellness features as a top priority for meticulous homeowners. Other amenities that residents are already enjoying in the community include its central clubhouse, which houses numerous facilities such as a kids’ play area, a co-working space with thinking pods, a complete fitness gym, a game room and a spa-

cious function hall. Other upcoming amenities that will ensure an active lifestyle in I-Land Residences Sucat include a full-size basketball court and a pool complex. Ultimately, the development's early sales and occupancy milestones suggest that environmental responsibility and wellness are becoming more relevant considerations in the homebuying decision. For developers, the challenge is no longer simply to deliver more residential units in increasingly crowded urban centers. It is to create communities that make sustainable and healthier living practical—and affordable—for the growing number of Filipinos who want to put down roots in the city. I-Land Residences Sucat is an award-winning, two-hectare masterplanned vertical community situated along Dr. Arcadio Santos Avenue, BF Homes, Parañaque City. As a pioneer in affordable sustainable living, it features innovative engineering designed to maximize natural airflow, optimize energy use and foster multigenerational community wellness.

Existing industrial estates can accelerate Luzon Economic Corridor investment USTDA visit to LIMA Estate highlights how existing industrial ecosystems can turn corridor connectivity into investment-ready capacity today

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XISTING industrial estates can help the Luzon Economic Corridor convert stronger connectivity into investment by providing companies with operating environments that are ready today, Aboitiz Economic Estates said following a visit by a US Trade and Development Agency (USTDA) delegation to LIMA Estate in Batangas. With shovel-ready industrial land, reliable utilities, workforce access, estate services and an established manufacturing ecosystem, LIMA Estate provides companies with a platform from which they can establish and expand operations today. “The Luzon Economic Corridor is a major opportunity to strengthen the Philippines as a manufacturing and investment platform,” said Rafael Fernandez de Mesa, President and CEO of Aboitiz Economic Estates. “To realize that ambition, connectivity must be matched by industrial capacity, talent and operating capability. Existing estates such as LIMA Estate can help strengthen that foundation, supporting long-term national competitiveness while giving ready investors a platform to establish and grow as the corridor continues to develop.

From connectivity to investment

THE Luzon Economic Corridor is being advanced by the governments of the Philippines, United

States and Japan to strengthen infrastructure, economic connectivity and investment across key growth areas in Luzon. The USTDA visit formed part of broader engagement around the corridor and provided the delegation with a view of industrial capacity already operating in Southern Luzon, together with the infrastructure, utilities and workforce systems supporting it. LIMA Estate today spans approximately 1,100 hectares, with more than 200 locators and around 75,000 workers, demonstrating the scale of industrial activity already operating in Batangas. The estate has also attracted approximately P129 billion in locator investments. During the visit, the delegation toured Littelfuse Philippines, offering a firsthand view of the type of global technology manufacturing already operating within LIMA Estate’s industrial ecosystem. The USTDA engagement followed President Ferdinand R. Marcos Jr.’s recent tour of LIMA Estate, where he met stakeholders across manufacturing, education and workforce development, further placing the estate within the broader national conversation on industrial competitiveness and investment. For investors, improved transport and logistics links are only part of the equation. Moving

USTDA visit highlights LIMA Estate’s role in turning corridor connectivity into investment-ready capacity

from an investment decision to actual operations also requires locations with dependable utilities, access to talent, estate services and an operating environment capable of supporting longterm growth.

Building an investment-ready ecosystem

ABOITIZ Economic Estates has developed LIMA Estate as an integrated economic ecosystem where industrial activity is supported by infrastructure, utilities, commercial services and workforce de-

velopment. Talent is increasingly becoming as important as physical infrastructure for advanced manufacturing. The Batangas State University-LIMA Campus brings engineering education directly into the estate, helping create a closer link between industry requirements, technical education and the future workforce. Aboitiz Economic Estates is also expanding industry-linked workforce programs designed to strengthen the talent pipeline and align skills development with the evolving needs of manu-

facturers and other businesses. These capabilities are expected to become increasingly important as the Philippines seeks to capture more opportunities in semiconductors, electronics, advanced manufacturing and other technology-intensive industries. LIMA Estate also retains capacity for further development, allowing it to support existing operations while accommodating new industrial and business investment as demand grows. The corridor can therefore combine long-term infrastructure development with shovel-ready industrial capacity that investors can access today, while building the systems needed to support higher-value industries over time.

Scaling industrial capacity across Luzon

ABOITIZ Economic Estates has industrial platforms in both Southern and Central Luzon. LIMA Estate provides mature, operating capacity in Batangas, while TARI Estate in Tarlac adds a new generation of industrial capacity with strategic access to Clark and Subic. Together, they illustrate how privatesector industrial capacity can complement

public infrastructure investment across the corridor, providing investors with locations that are ready today while creating room for future expansion. “The corridor becomes more competitive when we connect what the government is building with industrial ecosystems that are already working,” Fernandez de Mesa said. “That allows the Philippines to pursue the long-term infrastructure vision while capturing investment, jobs and growth in the near term.” The USTDA visit was part of broader Luzon Economic Corridor-related engagements involving Philippine, U.S. and Japanese government agencies, investment institutions and private-sector participants. The Philippine Economic Zone Authority, together with other government agencies and stakeholders, supported elements of the industrial site itinerary. The engagements coincide with the Luzon Economic Corridor Investment Forum, where government and business leaders are discussing how infrastructure, policy support and private-sector investment can strengthen Philippine competitiveness and participation in regional and global supply chains.

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Wednesday, September 16, 2026

www.businessmirror.com.ph

DPWH starts river dredging, tail-dike repairs in Pampanga C

Town eyes ‘pay as you throw’ scheme in garbage collection

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By Ashley J. Manabat

HE Department of Public Works and Highways has started dredging Pampanga’s Gugu River, as well as repair work on damaged portions of the Bacolor-Santo TomasMinalin tail dike as all 15 barangays in Minalin remained flooded.

Public Works Secretary Vivencio Dizon, together with Pampanga Vice Gov. Dennis Pineda and Minalin Mayor Philip Naguit, inspected damaged portions of the tail dike by tricycle, as heavy vehicles are prohibited along some sections. “Bawal ang mga mabibigat na sasakyan sa Santo Tomas at Minalin portions ng tail dike. Nailibot po namin siya [Dizon] ni Mayor Philip ng maayos para sa inspection ng mga damage,” Pineda said. Dizon said repairs to the damaged tail dike also started on Monday, although he could not yet provide a timeline for completion. “I can’t give a timeline pa but hopefully this week kakaumpisa pa lang eh,” Dizon said. Pineda said Dizon approved the emergency works to reduce the risk of floodwater and remobilized lahar reaching communities, particularly in Minalin. The provincial government and San Miguel Corp. deployed longarm and amphibious backhoes for desilting and excavation along the Gugu River. Pineda also requested a new dredging machine for regular maintenance of the river channels. DPWH said Gugu River, that serves as a catchment basin for the area, had not been dredged for 15 years. Dizon said the damaged tail

dike is a priority as further breach could send floodwater and lahar toward Minalin. “Itong tail dike sa Minalin isa sa mga priority na napagusapan namin kasi bumigay na itong parts ng tail dike,” Dizon said. “Magsisimula na ang trabaho ngayon and at the same time magde-dredge na tayo dito para mabawasan ang tubig at lahar na nagte-threaten dito sa poblacion ng Minalin.” “Delikado talaga ito kasi pagka umulan ulit at nasira ito ng tuluyan, lahat ng tubig at lahar doon pupunta

sa poblacion ng Minalin. We cannot let that happen.” Dizon said dredging would help lower water level and reduce the threat of flooding and lahar in the town. He said authorities would also seek to redirect water toward Sapang Labuan to keep it from threatening the town center. Naguit said flooding continued in all 15 barangays, although some roads had begun to emerge as water levels receded. “All 15 barangays are still flooded. Pero at least iyong mga nagawang daan, at least may mga nakalitaw na. Hindi ko sinasabing we’re used to flooding. We don’t want that. Pero ngayon ang safety ng tao [ang] priority natin,” Naguit said. Naguit said workers also repaired a section of the tail dike road in Bacolor on September 12 after rain caused portions of the road to erode and develop deep ruts. The road dike serves as an access route into and out of Minalin. The dredging is part of DPWH response to Pampanga’s recurring

flooding, alongside plans to build detention basins as a mediumterm flood-control measure. Dizon said the plan had been approved by the provincial and local governments and that site inspections would begin as floodwaters recede. “Ang planong na-approve na ng Pampanga, LGUs, so in motion na kami ngayon in the next few days pag bumaba na ang tubig, che-checkin na namin ang mga area para magawan na natin ng mga detention basins,” Dizon said. He said regional engineers would monitor potential sites in the coming weeks so work could begin as conditions permit. The measures follow a September 9 meeting among Dizon, Gov. Lilia Pineda, and local officials, where the Bacolor-Santo TomasMinalin tail dike was identified as one of several priority areas for urgent intervention. The flood control plan also includes long term projects, some of which Dizon said could take up to 20 years to fully implement.

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EBU City—The local government of Liloan, Cebu, is moving toward a “pay as you throw” garbage collection system as the town grapples with rising waste-management expenses, with Mayor Aljew Frasco stressing that the new policy is intended to make residents more accountable for the waste they generate. Under Municipal Ordinance 42-2026, or the “Pay As You Throw, Garbage Bag System,” households will be required to segregate their waste and use designated garbage bags for collection. Frasco said, however, that the target October implementation is not yet final, as the municipal government continues its information campaign and consultations with residents. “We are still in the middle of information dissemination,” Frasco said, explaining that the municipality initially met with purok officials and plans to bring the discussions to all barangays, schools, business establishments, homeowners’ associations and other sectors. This proposed system requires households to use official transparent garbage bags, allowing collection personnel to check whether biodegradable and non-biodegradable waste have been properly segregated. The designated bags are expected to cost P12 each. Frasco said the municipality canvassed available transparent bags from suppliers, with prices ranging from P8 to P22, but opted for P12 because cheaper bags tended to be smaller, thinner and more prone to tearing. Frasco emphasized that the P12 should not be viewed as a daily expense. The amount households spend will depend on how much garbage they produce. A household that properly segregates and recycles its waste could potentially use a single bag for several days or even about a week. Recyclable materials such as cans and bottles may still be placed in sacks or black bags if residents choose to bring them directly to junk shops or other buyers. The system is also intended to replace the previous garbage-fee arrangement. Frasco said Liloan stopped collecting garbage fees in January 2026, with the last collection made the previous year. Under the old system, households paid the same fee

regardless of the amount of garbage they generated. Under the new approach, those producing less waste would buy fewer official bags, while households and establishments generating larger volumes would shoulder a corresponding cost. The ordinance also provides for the collection of bulky waste, such as broken sofas, television sets and refrigerators. A P200 sticker will be required for each bulky item before it can be collected. Frasco said the municipality’s decision was driven by the growing cost of collecting, transporting and disposing of solid waste. In 2024, Liloan collected P8.933 million in garbage fees but spent around P19.9 million for garbage collection and landfill expenses. Of this amount, P9.263 million went to collectors’ salaries, fuel and maintenance of garbage trucks, while another P10.795 million was paid for sanitary landfill charges. The costs have continued to rise alongside fuel, vehicle parts and landfill charges. The municipality’s garbage truck fleet also expanded from seven units in 2022 to 11 in 2024 and 23 in 2026, further increasing operating expenses. For August 2026 alone, Liloan spent P566,032 for solid-waste management labor, P600,000 for fuel and P1.181 million for landfill fees, for total expenses of P2.347 million. The municipality currently collects between 35 and 40 tons of garbage every day. Frasco said reducing the volume of waste sent to the landfill through proper segregation and recycling could eventually bring down disposal costs. Money currently being spent to dispose of garbage, he said, could instead be redirected to other municipal priorities, including roads, drainage and other public projects. He acknowledged that the transition would require adjustments from Liloan residents but appealed for cooperation. “Atong Basura, Atong Responsibilidad,” Frasco said, urging residents to view waste management as a shared responsibility and to work together to keep Liloan clean and sustainable for future generations. The mayor reiterated that the municipality will continue its consultations before setting the final implementation date of the new garbage collection system.

Philippines joins CDRI

Construction firm, foundation partner for greening project

FTER 50 years of using forest products in its business, a major engineering and construction company is marking the first half century of its operations this month with a simple treeplanting event, symbolizing gratitude, partnership, and environmental responsibility. The Sta. Clara International Corp. partnered with the Million Trees Foundation, Inc. (MTFI) as part of its Golden Jubilee tree-planting event, including site preparation and implementation, underscoring a long-term commitment to sustainability. Sta. Clara Chairman and Managing Director Nicandro G. Linao said the company wanted to commemorate five decades of growth “with simplicity and purpose” instead of an extravagant or grand celebration. Linao said the company will plant and name trees in honor of partners who have contributed to the company’s journey and growth over the years.

By Carmel Pedroza

In a statement, MTFI President and Executive Director Melandrew Velasco said Sta. Clara has been one of the foundation’s institutional partners since its inception in 2021, supporting its continuing advocacy for reforestation, watershed protection, and environmental stewardship. The partnership is further being strengthened as Linao would soon join the MTFI Board of Trustees as a new trustee, bringing to the foundation decades of corporate and infrastructure experience as well as Sta. Clara’s institutional commitment to environmental sustainability, Velasco said. “For MTFI, Linao’s entry into the Board reflects an important principle behind the Foundation’s work: protecting the environment requires sustained collaboration among government, the private sector, civil society, and communities,” he said.

Sta. Clara has been among the private-sector organizations supporting MTFI and its environmental programs, including activities associated with the Annual Million Trees Challenge. The multisectoral initiative has mobilized partners in planting and nurturing millions of trees in critical watersheds and other areas. “Its golden anniversary tree-planting initiative therefore represents more than a commemorative event. It reinforces the idea that corporate milestones can be transformed into environmental legacies,” Velasco said. In his anniversary message, Linao said Sta. Clara’s success over the past five decades had been made possible by the trust, support and partnership of its clients, suppliers and other stakeholders. The company expressed the hope that the trees planted for its anniversary would “take root and flourish” and become living symbols

of relationships nurtured through the years and of a shared responsibility to future generations. That philosophy closely complements MTFI’s own approach to tree growing— one that goes beyond ceremonial planting to emphasize propagation, maintenance, survival, and the long-term rehabilitation of watersheds. In welcoming Sta. Clara’s initiative, and Linao’s forthcoming participation in the Foundation’s Board, Velasco described the partnership as an example of how corporations can integrate environmental responsibility into their institutional legacy. “Fifty years of building infrastructure is already an extraordinary corporate achievement. By choosing to celebrate this milestone through trees, Sta. Clara is also helping build something for the next generation—a greener and more sustainable future,” Velasco said. Jonathan L. Mayuga

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HE Climate Change Commission (CCC) welcomed President Marcos’s decision to bring the Philippines into the Coalition for Disaster Resilient Infrastructure (CDRI), saying it is a practical and forward-looking step for climate adaptation. CDRI is a global coalition committed to strengthening infrastructure resilience against climate and disaster risks. The Philippines was formally welcomed as CDRI’s 71st member during the President’s meeting with coalition officials in New Delhi, India. The Philippines is its second Southeast Asian member after Vietnam. Marcos designated the Department of Public Works and Highways (DPWH) to represent the country in the coalition. “This is a timely decision for Philippine adaptation. It can further strengthen our nation’s ability to anticipate risks and apply what we know before infrastructure is located, designed, financed, built, and maintained,” CCC Vice Chairperson and Executive Director Robert E.A. Borje said in a statement. Borje said the President’s decision supports the Marcos administration’s shift toward predictive governance, using climate projections, hazard information and risk assessments to guide present-day policies and investments. “Prediction has value when it changes a decision: the site selected, the design standard applied, the project prioritized, the maintenance scheduled and the essential service protected,” he added. Borje pointed out that roads, bridges, ports, power and water systems, schools,

hospitals and communications facilities are interconnected. The failure of one critical system can disrupt essential services, livelihoods and economic activity, underscoring the need for climate-resilient design and preventive adaptation. The CCC said CDRI membership can complement the implementation of the National Adaptation Plan 2023–2050 and the National Climate Risk Management Framework by widening access to international expertise, technical cooperation, risk-assessment tools and potential partnerships for resilient infrastructure investment. The commission emphasized that the value of membership will depend on how international knowledge and cooperation are translated into national standards, budgets, investment decisions and projects. “With DPWH as the country’s designated representative, the next step is to connect this cooperation with the work of other national agencies, local governments, infrastructure operators, financing institutions, universities and communities,” Borje said. “Our objective must be to build right at first sight and ensure that public investments remain safe, functional and useful under the risks we already face and those we can reasonably foresee.” The CCC is the lead policy-making body of the government on climate change. Under Republic Act 9729, as amended, the commission is tasked to coordinate, monitor, and evaluate government climate programs and support the mainstreaming of climate change into national, sectoral and local development policies and plans. Jonathan L. Mayuga