BusinessMirror January 09, 2026 by BusinessMirror

‘BIR likely missed 2025 tax collection goal’ T

WORLD » A7

CHINA AND JAPAN, NEIGHBORS IN EAST ASIA, START 2026 ON TENSE NOTE AGAIN

ROTARY CLUB OF MANILA JOURNALISM AWARDS

2006 National Newspaper of the Year 2011 National Newspaper of the Year 2013 Business Newspaper of the Year 2017 Business Newspaper of the Year 2019 Business Newspaper of the Year 2021 Pro Patria Award PHILIPPINE STATISTICS AUTHORITY 2018 Data Champion

HE Bureau of Internal Revenue (BIR) collected P3.105 trillion in taxes in 2025— posting a year-on-year growth but falling short of its full-year target—after flood control investigations curbed government spending in the latter half of the year. Speaking to reporters on Thursday, Internal Revenue Commissioner Charlito Martin R. Mendoza said preliminary BIR figures showed tax collections reached P3.105 trillion, net of refund, in 2025. This is higher by 8.8 percent from the P2.851-trillion raised in 2024. However, the outturn was 3.7 percent below the agency’s P3.219-trillion full-year target. Mendoza said the BIR had been

performing strongly in the first half of the year, but momentum faded in the second semester. “Starting July, when the flood control investigations started, our revenue collection efforts were really significantly affected, primarily because of the slowdown in spending,” Mendoza said. Despite the drag in the latter part of the year, the BIR ended 2025 on a strong note, as the bureau “rebounded significantly” in December, the BIR chief added. For the month of December alone, the BIR’s tax take amounted to P199.5 billion, an 8.52-percent increase from a year ago’s collection of P183.839 billion. Mendoza noted that collections

are still being finalized, as reports from authorized agent banks continued to come in. While Mendoza said he does not expect the bureau to hit its 2025 goal, he expressed optimism that the positive trend will carry over into 2026, given its higher revenue target. For 2026, the BIR will collect P3.579 trillion, higher by 11.19 percent from last year’s P3.219trillion goal. Asked about the agency’s outlook for the first quarter of 2026, Mendoza said the BIR remains optimistic and will push hard to meet its higher revenue goal as the government ramps up spending. “We will do our best to hit the

target. The government needs revenues because we have a lot of projects that need to be funded,” he said, noting that a large portion of the P6.793-trillion budget will be financed by tax collections.

Streamlining LOAs

AS for the letters of authority (LOAs) issued by the BIR, Mendoza said the bureau is moving toward a streamlined and consolidated LOA framework to address complaints about multiple audit orders being served on a single taxpayer. “We’re looking at the possibility of having just one level of authority per taxpayer per taxable year, covering all internal See “BIR,” A12

BusinessMirror A broader look at today’s business

EJAP JOURNALISM AWARDS

BUSINESS NEWS SOURCE OF THE YEAR

(2017, 2018, 2019, 2020, 2021) DEPARTMENT OF SCIENCE AND TECHNOLOGY

2018 BANTOG MEDIA AWARDS

GOLD ALLOWS DOLLAR RESERVES TO HIT $110B www.businessmirror.com.ph

Friday, January 9, 2026 Vol. 21 No. 89

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

PHL rice imports fall below 4MMT due to ban

By Reine Juvierre S. Alberto @reine_alberto

HE country’s dollar reserves settled at $110.872 billion as of the end of 2025, down from a month ago, mainly due to a pullback in foreign investments, although record-high gold holdings helped cushion the decline. Preliminary data from the Bangko Sentral ng Pilipinas (BSP) showed the country’s gross international reserves (GIR) dipped by

By Ada Pelonia

0.34 percent month-on-month from $111.253 billion as of endNovember. See “Dollar,” A2

PHL ALL SET FOR ASEAN SUMMITS AND RELATED MEETINGS IN 2026 By Malou Talosig-Bartolome

HE Philippines is gearing up to host the region’s most significant diplomatic gatherings this year, as it formally announced the dates and venues for the Association of Southeast Asian Nations (Asean) Leaders’ Summits in 2026. The 48th Asean Leaders’ Summit will take place on May 8-9 in Cebu City, bringing together leaders from the 11 Asean member states: Brunei Darussalam, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Phil-

ippines, Singapore, Thailand, Timor-Leste, and Vietnam. Later in the year, the 49th Asean Leaders’ Summit is scheduled for November 10-12 in Manila, at the newly renovated Philippine International Convention Center (PICC). In addition to Asean leaders, heads of state or government from 11 dialogue partners— Australia, Canada, China, the European Union, India, Japan, New Zealand, the Republic of Korea, the Russian Federation, the United Kingdom, and the United States—are invited to See “Meetings,” A2

INFLATION ON THE MENU People from different walks of life enjoy affordable meals at a carinderia along Hidalgo Street, Quiapo, Manila, as food costs continue to rise. The Philippine Statistics Authority said faster increases in food prices pushed the General Wholesale Price Index up to 2.7 percent in November 2025, from 2.6 percent in October, with the food index accelerating to 2.2 percent. Analysts note that rising wholesale costs—alongside higher prices for fuel-related products and other inputs—often filter down to small food vendors and consumers, tightening margins for carinderias and stretching household budgets. NONIE REYES

HOT SPOT Lava flows from Mayon Volcano’s crater are visible from Daraga town as Alert Level 3 remains in effect in Albay province, northeastern

Philippines, Thursday, January 8, 2026. PHIVOLCS warns that Mt. Mayon may erupt with increased lava flow and fountaining compared to its 2023 activity, with a slim chance of a highly explosive event similar to the 2000 eruption. The public is strongly advised not to enter the 6-kilometer Permanent Danger Zone or venture into the Extended Danger Zone without caution, and flying aircraft near the volcano is prohibited. Hazards include rockfalls, landslides, ballistic fragments, lava flows and fountaining, pyroclastic density currents, moderate explosions, and lahars during heavy rainfall. AP/ZALRIAN SAYAT

@adapelonia

HE country’s rice imports fell by 30 percent to 3.37 million metric tons (MMT) in 2025, based on latest government data. Figures from the Bureau of Plant Industry (BPI) indicated that the Philippines purchased 3.37 MMT of foreign rice last year, from 4.81 MMT recorded in 2024. Agriculture officials had cited the four-month ban slapped on imported shipments of the staple grain as the reason behind the drop in rice arrivals last year. The government issued the ban in September to arrest the slide in farmgate prices of palay that hit a low of P8 per kilo. Initially set to end in November, this was extended until end-2025. During the import freeze, only specialty rice varieties were allowed entry into the country, including japonica, glutinous, and basmati. Meanwhile, the BPI issued a memorandum order about the resumption of importation of milled rice on January 1. Under the order, the 10 percent downpayment requirement for applications of sanitary and phytosanitary import clearances (SPSICs) has been waived. Traders should secure an SPSIC from the agency before importing foreign rice stocks to ensure that an inbound shipment is safe for human and animal consumption. The order stipulates that all foreign rice shipments should arrive into the Philippines within 60 days from the issuance of the SPSIC. “Shipments arriving beyond the prescribed period shall not be accepted and are required to be returned to the country of origin on the expense of the importer.” Furthermore, the BPI stressed that foreign rice shipments would only be allowed to enter through the following ports: Subic, Batangas, Manila International Container Port (MICP), Port of Manila, Cebu, and Cagayan de Oro. Iligan, Davao, General Santos, Tacloban, Tabaco in Albay, Zamboanga, Bacolod, Iloilo, Tagbilaran, Dumaguete, and Calbayog are also included. See “Imports,” A2

PESO EXCHANGE RATES n US 59.3290 n JAPAN 0.3785 n UK 79.8509 n HK 7.6191 n CHINA 8.4856 n SINGAPORE 46.2857 n AUSTRALIA 39.8691 n EU 69.2666 n KOREA 0.0409 n SAUDI ARABIA 15.8211 Source: BSP (January 8, 2026)

News

BusinessMirror

A2 Friday, January 9, 2026

Imports…

Continued from A1

For 2026, the Department of Agriculture (DA) projects rice imports to reach 3.6 MMT to 3.8 MMT, signaling a policy shift toward tighter import management and stronger support for local producers. Earlier, the DA said it is banking on the passage of the Rice Industry and Consumer Empowerment (RICE) Act to curb the entry of foreign rice shipments, as it stipulates the power to limit imports.

Projects…

Continued from A12

The review showed there were several unfinished and missing FMRs, which prompted DA to take over the construction of such public works starting this year. Of the agency’s P215 billion budget this year, the DA chief said P33 billion will be used for building FMRs. This was higher compared to the P23 billion budget for the said projects in 2025. To make sure there will be no irregularities in the construction of FMRs, he said they will launch next week their FMR Watch initiative, wherein they will partner with civil society groups for the monitoring of the said projects. He said this was in line with the directive of President Ferdinand R. Marcos Jr. to keep the construction of FMR projects “clean” from anomalies, and finished quickly. “Actually, as of today, we are meeting in our office with civil society groups that are willing to sign a MOA with them to help us monitor this [FMRs] and it will be so transparent. Every single Filipino can actually go to this portal and see what is happening to every single road which is being constructed.”

www.businessmirror.com.ph

Govt wants to hike imported rice MSRP to ₧45 per kilo

By Samuel P. Medenilla

HE Department of Agriculture (DA) is planning to raise the maximum suggested retail price (MSRP) for imported rice to P45 by next week as the country starts imposing a 20-percent tariff on the food staple. The initiative together with the expanded implementation of its P20 per kilo rice or Benteng Pesos Meron Na (BBM) program is expected to keep the price of rice stable in the coming months. In a press briefing in Malacañang last Thursday, Agriculture Secretary Francisco P. Tiu Laurel Jr. said the Economy and Development Council has approved the 5-percentage point increase in tariff for rice. “Our MSRP for imported rice is now at P43. But then we know the [Philippine peso] devalued to P59.33. If that exchange rate [will remain] by January 16 plus the 5 percent [increase in tariff], we will likely issue an MSRP of P45 per kilo to address this,” he said partly in Filipino. He said they may announce the new

MSRP on January 15. The higher tariff on rice is expected to translate to put pressure on the prices of imported rice. Based on the price monitoring of DA in selected wet markers in Metro Manila last January 7, the prevailing price for well-milled imported rice was at P46.50 per kilogram (kg), while it was at P39.92 per kg for imported regular milled rice. The DA has projected the country needs to import 3.6 million metric tons (MMT) to 3.8 MMT of rice this year to plug the gap in domestic output. This will be higher compared to the 3.37 MMT imported last year, but lower than the 4.81 MMT recorded in 2024. The DA chief said there was an “over

importation” of rice in 2024, which pulled down the farmgate prices of the local variety. He also assured that the DA has enough funds under the 2026 General Appropriations Act (GAA) to sustain the Rice Competitiveness Enhancement Fund (RCEF) in case the 20-percent tariff for rice will lead to lower imports. “We were given in our budget under the GAA P30 billion for the minimum guaranteed fund for RCEF. So, RCEF will remain safe even though the tariff [for rice] will decrease or increase,” he said. Created by Republic Act 11203 or the Rice Tariffication Law, RCEF is a fund collected from rice tariffs, which is used to boost the competitiveness of local farmers through a mechanization pro-

gram, credit assistance, and extension services among others. The DA chief also announced they will be expanding the coverage of the BBM to more provinces later this year starting with Pangasinan on January 13. He said they have P14 billion for the implementation of BBM which is expected to benefit 15 million families or 60 million individuals by the end of the year. Of which, P4 billion came from last year’s national budget, while the remaining P10 billion is included in the 2026 GAA. “That will help ease the inflation for rice and will help control the price of rice because there is a portion [of the supply] which can be bought cheaply [by consumers],” he said.

LGU…

vestments worth P18.70 billion, expected to generate 7,319 jobs and “help improve food production, storage, and supply.” As for the digital infrastructure sector, it has 9 projects with investments of P401.69 billion under the green lane which are seen to generate 20,376 jobs, which BOI said support “better internet connectivity, data centers, and digital services.” Under the Manufacturing sector, 7 projects worth P67.04 billion have been certified under the green lane which are expected to create about 7,773 jobs. For PPP, Infrastructure, and Water sector category, 5 “largescale” projects worth P416.08 billion have been certified under green lane services. Even with fewer projects, however, these five projects are expected to create 113,263 jobs, “showing its strong impact on employment and basic services,” the BOI noted. Meanwhile, BOI said the Pharmaceutical sector has 1 project with a “small investment” of P0.045 billion and is expected to generate 35 jobs.

Continued from A12

and Water, suggesting that a limited number of projects are nearing commissioning,” BOI said. Delos Reyes said EO 18 has “strengthened the government’s ability to translate investment commitments into actual, onthe-ground projects.” “By improving coordination among national government agencies and local government units, we are helping investors move from planning to implementation more efficiently, while ensuring that projects aligned with national priorities are realized and translated into jobs and inclusive growth.” Out of the 232 endorsed and certified projects under the Green lane scheme, BOI said Renewable Energy projects still occupy the largest share of the portfolio with 179 projects worth P5.206 trillion. These are expected to create 249,801 jobs. This was followed by Food Security, with 31 projects, with in-

Dollar…

Continued from A1

The monthly decrease was due to the 1.1-percent decline in foreign investments to $87.008 billion as of end-December from $87.975 billion in the previous month. Still, this was offset by the continued month-on-month increase in gold holdings by 3.1 percent to a new record-high of $18.577 billion from $18.025 billion, as world gold prices also went up. Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., said the easing of the GIR reflects a combination of foreign exchange operations to smoothen peso volatility, debt service payments and valuation effects, especially with a stronger greenback reducing the peso value of some reserve components. “These are typical and do not signal stress,” Ravelas said. The GIR should remain “comfortable and adequate,” Ravelas said, as long as remittances and services receipts stay steady. “Near-term moves may be choppy, but the reserve position remains a buffer against external shocks rather than a constraint.” Year-on-year, the GIR rose by 4.3 percent from $106.256 billion recorded at end-December 2024. The latest GIR level provides a robust external liquidity buffer, equivalent to 7.4 months’ worth of imports of goods and payments of services and primary income, the BSP said.

GIR is viewed to be adequate if it can finance at least threemonths’ worth of the country’s imports of goods and payments of services and primary income. The latest GIR level ensures availability of foreign exchange to meet balance of payments financing needs, such as for payment of imports and debt service, in extreme conditions when there are no export earnings or foreign loans. The current GIR level also covers about four times the country’s short-term external debt based on residual maturity, the BSP added. This is considered adequate if it provides at least 100 percent cover for the payment of the country’s foreign liabilities, public and private, falling due within the immediate 12-month period. According to Michael L. Ricafort, chief economist at Rizal Commercial Banking Corporation, the GIR is still above the $100-billion mark, which is “still a good signal” on the country’s external position. “That could help stabilize the peso exchange rate and support the country’s favorable credit ratings of 1-3 notches above the minimum investment grade in recent years despite the Covid-19 pandemic,” Ricafort said. GIRs are made up of foreigndenominated securities, foreign exchange and other assets, including gold. Reserves help a country finance its imports and foreign debt obligations, stabilize its currency and provide a buffer against external economic shocks.

PHL all set for ASEAN and related… Continued from A1

join the Manila meetings.

Myanmar’s exclusion

ASEAN currently counts 11 members, but Myanmar’s Acting President Senior General Min Aung Hlaing will not be invited. The bloc cited Myanmar’s continued failure to comply with the ceasefire and other conditions under the Five-Point Consensus. (See related: https://businessmirror.com.ph/2026/01/08/ phl-kickstarts-asean-chairshipwith-lazaro-meeting-in-myanmar/)

Attendance still uncertain

DOMINIC XAVIER IMPERIAL, newly appointed DFA spokesperson on Asean affairs, confirmed that United States President Donald Trump has been invited to the November summit, though his attendance remains unconfirmed. Trump last joined Asean leaders in Kuala Lumpur in October, where he brokered a peace deal between Thailand and Cambodia. It is also unclear which top leaders from China and Russia will attend. In past summits, China was represented by Premier Li Qiang, while Russia sent Deputy Prime Minister Alexei Overchuk.

Security preparations

MAJ. GEN. POTENCIANO CAMBA, Head of Operations at the Asean National Organizing Committee (NOC), said security measures are already in place, including possible partial or full lockdowns on major roads near summit venues. “As of the moment, we have not received any direct threats for our hosting,” Camba told reporters Thursday. The Department of National Defense–Armed Forces of the Philippines will lead security operations for the summits.

Packed calendar

BEYOND the two leaders’ summits, the Philippines will host 650 Aseanrelated meetings throughout 2026, involving ministers and senior officials across various sectors. Among the highlights: n The ASEAN Foreign Ministers’ Retreat in Cebu City on January 28–29. n A special meeting of foreign ministers marking the 50th anniversary of the Treaty of Amity and Cooperation on July 24. n Separate ministerial meetings, including the ASEAN Tourism Ministers’ Meeting, also in Cebu on January 28–29. Foreign ministers from 17 dialogue and sectoral partners—including Bangladesh, North Korea, Mongolia, Pakistan, Papua New Guinea, Sri Lanka, and others—are likewise expected to participate in the Asean Regional Forum and Asean Post Ministerial Conference slated before July 24. For these ministerial-level meetings, the Philippine National Police will take the lead in security, with no lockdowns planned around the venues.

Undercurrents

PROTEST rallies are expected near summit venues, coinciding with a politically charged year marked by the impending impeachment proceedings of Vice President Sara Duterte, the trial of former President Rodrigo Duterte in The Hague, and the ongoing investigation into the flood control scandal. “We remind ourselves that we are a democracy, so we allow these voices to be heard,” said Ma. Hellen de la Vega, director-general of the Asean-NOC, noting that coordination with local government units is underway for security and logistical arrangements. (See related: https://businessmirror. com.ph/2025/12/30/congress-approves-%e2%82%b117-5-billionbudget-for-asean-2026-summitsand-ministerial-meetings-in-thephilippines/)

www.businessmirror.com.ph

Friday, January 9, 2026

Legislators seek ‘comprehensive fitness determination’ for suspended colleague By Jovee Marie N. dela Cruz @joveemarie

EVERAL members of the National Unity Party (NUP), who earlier filed an ethics complaint against Cavite Rep. Francisco “Kiko” A. Barzaga, have submitted a manifestation and motion through counsel before the House Committee on Ethics and Privileges, seeking a “comprehensive fitness determination” before the lawmaker is allowed to resume his legislative duties.

BuCor lauds 5 personnel for passing Bar exams

OR R EC T IONS Director General Gregorio Pio P. Catapang Jr. on Thursday announced that five Bureau of Corrections personnel were among those who passed the 2025 Bar exams. Catapang identified the successful Bar examinees as Charles Agraba, Corrections Officer 3 (CO3) Niño de Vera, CO1 Robin Garcias, Corrections Technical Senior Officer 1 Cherry Mañago, and CO3 Xerxes Sebido. “Their achievements not only highlights the individual accomplishments of these outstanding officers but also reinforces the commitment and potential within our organization, “ Catapang said. “Each of these five individuals has shown tremendous resilience throughout their respective journeys. Their stories are testaments to the values of hard work and commitment, serving as an inspiration not only to their colleagues at Bucor but also to aspiring lawyers nationwide,” the BuCor chief added. The five BuCor personnel were among the 5,594 law graduates who passed the 2025 regionalized and digitalized Bar examinations held last year. Catapang said the legal expertise of these new lawyers “would greatly contribute to the legal intricacies surrounding corrections and rehabilitation.” “The integration of legal perspectives within our team strengthens our ability to uphold justice and support the rights of individuals under our care, ensuring that our operations align with the highest standards of law and ethics.” See “Bar,” A9

The filing cites Barzaga’s continued publication of inflammatory and disorderly content despite disciplinary sanctions previously imposed by the House. In their submission, the complainants recalled the House’s adoption on December 1, 2025 of Committee Report 28, which found Barzaga liable for misconduct under the House Code of Conduct and Republic Act 6713. The report imposed a 60-day suspension without salary and allowances, accompanied by a stern warning that any repetition of similar acts would merit harsher sanctions. The complainants, through counsel, argued that despite the suspension and warning, Barzaga again used his verified official social media accounts to post content that allegedly brings disrepute to the House and undermines the ethical standards expected of

members of Congress. The manifestation and motion pointed to several posts, including the mockery and vilification of the late Antipolo Rep. Romeo Acop, statements ridiculing tributes paid to him, crude and objectifying remarks involving women, inflammatory political commentary disseminated through official platforms, and the alleged exploitation of the death of another public official to promote an unfounded conspiracy narrative. According to the filing, these actions, when viewed alongside Barzaga’s prior misconduct already on record, demonstrate a continuing disregard for the authority of the Committee on Ethics and Privileges and an ongoing affront to the dignity of the House of Representatives. T he complainants stressed that disciplinary measures are intended to be corrective, and that

Remulla asks NBI to identify, charge ‘purveyors of fake news’ on his health By Joel R. San Juan @jrsanjuan1573

MBUDSMAN Jesus Crispin Remulla on Thursday said he has asked the National Bureau of Investigation to conduct an investigation into malicious social media posts claiming that he was gravely ill and was hospitalized. At a press briefing, Remulla said those who were responsible for peddling false and malicious information about his health condition should be held accountable. Remulla earlier branded as “fake news” the social media posts saying that he was rushed to a hospital. “I am having this

investigated. Why? Because we’re reached the limit of cyberlibel already. Let’s see where this goes,” he said. Remulla added that he has asked the NBI to determine where the false information originated. “I am asking the NBI to look into these allegations and scuttlebutt, to determine where it actually originated on social media,” the Ombudsman said. It may be recalled that in 2023, Remulla underwent a bypass heart surgery and was later diagnosed with leukemia. He also disclosed that he has recovered after undergoing chemotherapy and a bone marrow transplant. The Ombudsman has assured the

public that he remains healthy to fulfill his duties as the government’s chief anti-graft investigator. “I work out everyday. I sleep early, I wake up early,” he said. Remulla expressed belief that the false information about his health being circulated online is part of the propaganda machine of some political parties. He noted that such malicious posts persisted even a day after he surfaced in his radio program last Saturday. “There’s really an orchestrated campaign. I don’t know for what purpose but I think it’s part of the propaganda machine of some political parties,” Remulla added.

Embassy: J-1 US visa does not lead to permanent residency, citizenship

ILIPINO nationals are reminded that the J-1 exchange visitor program visa is a nonimmigrant program and does not lead to United States permanent residency nor citizenship. The Philippine Embassy in Washington DC issued the reminder on Wednesday after receiving reports of illegal recruiters and individuals posing as immigration lawyers promising US citizenship through the J-1 program. According to the embassy, the visitor program is temporary and designed solely for cultural exchange. “Overstaying in the United States beyond the authorized period of stay is a serious violation of US immigration law, and can

result in deportation and longterm bans,” it said. J-1 teachers are required to return to the Philippines after completing the program and are subject to a two-year home-country physical presence requirement. “Waiver of this requirement is difficult to obtain, not guaranteed, and requires exceptional hardship or highly meritorious circumstances,” the embassy said. It said illegal recruiters are demanding large sums of money for immigration assistance, and even encourage overstaying, misusing visas, or filing asylum claims solely to remain in the US. “ Teachers who are J-1 visa holders or applicants are urged to

participate in the program only with a clear understanding of its objectives and limitations,” the embassy said. “Those considering long-term immigration options must seek advice from a qualified US immigration attorney,” it added. Under the Trump administration, the US has intensified its crackdown on US immigration violations, including those overstaying a visa or entering the country illegally. According to the US Department of State, overstaying a visa may cause a national to be “ineligible for a visa in the future for return travel to the United States.” PNA

Alert Level 3 at Mayon; ‘intense unrest’ at Kanlaon–Phivolcs

AYON Volcano continues to show signs of restiveness, the Philippine Institute of Volcanology and Seismology (Phivolcs) reported. From 12 midnight. to 12 noon on Wednesday, Phivolcs said it has recorded one volcanic earthquake,

162 rockfall events, and 50 pyroclastic density currents (PDC) during the 24-hour monitoring of Mayon. Located in the province of Albay, Mayon Volcano is one of the country’s most active volcanoes. Phivolcs placed it under Alert

Level 3 or intensified unrest this week due to increased volcanic activity. The volcano wall remains inflated, indicative of magmatic activity, Phivolcs said. Phivolcs said the crater glow in Mayon is fairly visible to the naked eye.

Phivolcs has declared the 6-kilometer Permanent Danger Zone around Mayon as “off limits” to human activities and cautioned flying of aircraft near it, due to the possibility of sudden eruption. See “Mayon,” A9

repeated misconduct after formal discipline raises serious questions about a lawmaker’s readiness to discharge legislative duties in accordance with legal and ethical standards. The manifestation and motion therefore ask the Committee to require a comprehensive fitness determination before Rep. Barzaga is permitted to return to legislative work, to assess whether he is physically, mentally, emotionally, and behaviorally fit to perform the duties of a member of Congress consistent with the House Code of Conduct. The complainants clarified that they are not seeking the imposition of a new penalty, which remains within the authority of the House in plenary session. Instead, they are invoking the Committee’s supervisory and fact-finding jurisdiction to ensure that appropriate

institutional safeguards are in place before a disciplined Member resumes legislative functions. The motion is anchored on the House’s constitutional authority to discipline its Members under Article VI, Section 16(3) of the Constitution, as well as the Committee’s continuing jurisdiction over matters affecting conduct, dignity, and institutional integrity under House rules. They reiterated that the House of Representatives must uphold standards that merit public respect, stressing that when misconduct persists even after sanctions have been imposed, additional corrective measures are necessary to protect institutional integrity and preserve public confidence in democratic institutions. The National Unity Party is the second-largest political party in the House of Representatives.

Senator eyes joint oversight, on-ground check of projects

EN Erwin Tulfo on Thursday called for the conduct of actual field verification of projects to ensure proper use of public funds. Tulfo also backed the creation of a Joint Congressional Oversight Committee on Public Expenditures and defended the higher allocation for social protection programs under the 2026 national government budget, citing the need for tighter monitoring and stronger disaster preparedness. “Huwag lang tayo mag-re-rely sa report ng secretary, ng mga director. Kailangan siguro talagang may tao tayo on the ground na mag random check [We should not just rely on reports of secretaries and directors. We really need people on the ground to conduct random checks],” he said during a media forum. Tulfo said on-ground inspections are crucial for big-ticket projects, including infrastructure and irrigation, as agencies

have entered the implementation phase following the enactment of the General Appropriations Act. Meanwhile, he defended the increased funding for Assistance to Individuals in Crisis Situation (AICS) and the Medical Assistance to Indigent and Financially Incapacitated Patients (Maifip), saying past calamities showed how quickly aid funds can be exhausted. “Nakita po natin last year na sunod-sunod ang bagyo [We saw last year that there were successive typhoons],” Tulfo said. “Kaya this time around, we made sure na meron silang enough para doon sa mga contingency kagaya ng sunod-sunod na mga typhoon at earthquake [That is why this time we made sure they have enough funds for contingencies such as successive typhoons and earthquakes].” The Maifip’s expansion has given indigent patients access to private hospitals when public facilities are already full, he added. PNA

Pagasa: Claim of colder months ahead due to Aphelion a hoax By Jonathan L. Mayuga @jonlmayuga

HE Philippine Atmospheric, Geophysical and Astronomical Services Administration (Pagasa) debunked the claim being circulated on social media that the so-called Aphelion Phenomenon will bring colder temperatures that could lead to health problems. “While the Aphelion Phenomenon is real, the correlation to health and colder weather is a hoax,” says Mario Raymundo, senior weather specialist at the state weather bureau. Raymundo said every year, this same message is being circulated on social media, but the claim is false and misleading. “This is not new. Every year, this misleading information is circulated. First, Aphelion 2026, that is real. It is an astronomical phenomenon, which means the position of the Earth from the Sun is far, because of the tilt of the Earth. But what is going viral that

it will affect our health is not real. This is a hoax,” he told the BusinessMirror in a telephone interview. The message being circulated through various social media platforms says: “Starting tomorrow at 5:00 AM: we will experience the APHELION PHENOMENON. “The Earth will be very far from the Sun. While the phenomenon cannot be seen, people can feel its impact, and it will last until August. “We will have colder weather than ever before, which can lead to flu, coughing, difficulty breathing, etc. We must boost our immunity by using plenty of vitamins and supplements to strengthen our health.” It explains that the distance from the Earth to the Sun is typically 5 light-minutes or approximately 90 million kilometers. “During the Aphelion phenomenon, we are 152 million km away from the Sun—that’s See “Aphelion,” A9

Friday, January 9, 2026

DOST focuses on accelerating economic prosperity By Bless Aubrey Ogerio

PPLYING technology to accelerate economic prosperity is the direction the Department of Science and Technology (DOST) is setting as it faces what it described as key challenges in 2026. Science Secretary Renato Solidum Jr. said the department will roll out three programs under what it calls the “Horizon” initiative. “ T he word hor i zon mea ns something you can already see,” Solidum said in Filipino during a media briefing. “These ‘Horizons’ are in front of us—one is near, one is in the middle, and one is farther away.” For 2026, the DOST’s priorities will focus on innovation and job creation. Solidum said the agency is targeting 10,000 micro, small, and medium enterprises (MSMEs) to improve productivity, while about 500 MSMEs are being identified for scaling up and potential global exposure. He added that the department has also set seven regional targets, with varying industry focuses across Luzon, Visayas and Mindanao, to support sectors seen as having stronger potential for income generation and employment. To support this, DOST will introduce programs that allow MSMEs to adopt artificial intelligence, including the development of so-called smart factories. These aim to help selected MSMEs scale up production through the use of robots, AI and other smart technologies. The science chief also said that the department will continue offering scholarships in science, engineering, technolog y, mathematics and related fields. On the creative side, Solidum said DOST has expanded collaborations in areas such as game development, animation and esports, citing the sector’s potential to benefit Filipinos who are innovative, creative and skilled in digital work. See “DOST,” A9

www.businessmirror.com.ph

Digital complex set to be Marcos orders general established in CamSur amnesty for unpaid A PhilHealth contributions

RESIDENT Marcos has ordered the Philippine Health Insurance Corp. (PhilHealth) to implement a general amnesty for unpaid contributions of employers, business owners, and self-employed members, including a one-time waiver of interest and penalties for 2026.

In a video message released on social media on Thursday morning, Marcos said the move aims to ease the financial burden on Filipinos and help them settle longstanding contribution backlogs without additional charges. “Inutusan ko po ang PhilHealth na magpatupad ng general amnesty para sa mga negosyante, private employer, mga self-employed nating mga kababayan na may hindi nabayarang kontribusyon sa PhilHealth [I have instructed PhilHealth to implement a general amnesty for business owners, private employers, and our self-employed citizens who have unpaid PhilHealth contributions],” Marcos said.

The President acknowledged that regular PhilHealth payments weigh heavily on many Filipinos, especially those paying monthly. “Alam naman namin na yung 3 percent na binabayad para sa PhilHealth buwan-buwan ay ramdam na ramdam ng ating mga kababayan [We know that the 3 percent paid to PhilHealth every month is strongly felt by our people],” he added. Marcos said PhilHealth has been directed to offer a one-time waiver of interest on unpaid contributions for 2026, allowing members to settle arrears without penalties. “Kaya gagawa po tayo ngayong taon na ito ng 2026 ang tinatawag

nating one-time waiver para sa interes [That is why this year, 2026, we will implement what we call a one-time waiver for interest],” he said. Under the President’s directive, employers will be given one year to pay all missed contributions incurred from July 2013 to December 2024. Marcos said the amnesty is expected to benefit around 300,000 PhilHealth members. The President urged employers to update their records and ensure all workers are properly registered under PhilHealth’s Yaman ng Kalusugan, or Yakap Program, which aims to expand coverage and improve access to healthcare services. Marcos said the initiative is part of the administration’s broader effort to reduce healthcare costs and help Filipinos cope with rising economic pressures. “Ito pong lahat ay ating ginagawa para pagaanin ang dalahin ng ating mga kababayan pagdating sa healthcare cost at sa iba’t ibang hamon na kanilang hinaharap [All of these are being done to lighten the burden of our people when it comes to healthcare costs and the many challenges they face],” he said. PNA

LANDMARK Public-Private Partnership (PPP) initiative aimed at accelerating the digital transformation of Philippine basic education and strengthening local manufacturing is moving forward, as Allied Manufacturing Corporation Asia Pacific Pty Ltd, in collaboration with Google, has confirmed plans to establish a local Chromebook manufacturing facility in Camarines Sur. The proposed facility will be located in the CamSur Uptown Global City, a master-planned development of the provincial government under Gov. Luis Raymund Villafuerte that is in the process of being declared a Philippine Export Zone Authority (Peza)-registered economic zone. Allied’s project with Google is targeted to begin initial operations this year and will focus on the local assembly of Chromebook laptops and related education technology devices for deployment in public schools nationwide. The initial five-hectare information technology (IT) park allocated for Allied Manufacturing at the CamSur Uptown Global City can be scaled up to 100 hectares to 200 ha to accommodate more hightech and electronics manufacturing companies, including data centers, that are likely to set up shop there later, Villafuerte said. The planned facility in CamSur reflects growing investor confidence in the Philippines under

the leadership of President Marcos, whose administration has consistently emphasized inclusive growth, education reform, countryside development and job creation, he added. In addition, Villafuerte said the project aligns with Marcos’ economic and social agenda to revitalize Philippine manufacturing, strengthen human capital, and ensure that investments translate into tangible benefits for Filipino families—particularly outside Metro Manila. Reforms such as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE-MORE) Law and the Tatak Pinoy Act, and sustained improvements in ease of doing business have contributed to renewed investor interest in high-impact, future-ready industries, he also said. Villafuerte, who co-authored both CR EATE-MOR E and the Tatak Pinoy Act when he was still a congressman, welcomed the planned investment as he reaffirmed the province’s commitment to fully support this transformative project in CamSur. “This planned investment is a strong vote of confidence in the Philippines under the leadership of President Bongbong Marcos, and in CamSur as a growth center for education, technology, and manufacturing,” Villafuerte said.

Meralco January rates likely to increase House Labor panel head seeks By Lenie Lectura @llectura

OWER rates this month may slightly go up on account of higher generation charge, an official of the Manila Electric Company (Meralco) said on Thursday. In a Viber message, Mera lco spokesman Joe Zaldarriaga said the distribution utility company has yet to receive the billings from its power suppliers but “very initial indications show that there may be minimal movement in the electricity rates this month.” Zaldarriaga noted an upward pressure in the generation charge primarily owing to the weakening of the peso against the US dollar,

which affects a significant portion of power supply costs that are dollar-denominated. “We hope this will be mitigated or offset by lower WESM [wholesale electricity spot market] prices during the December supply month,” Zaldarriaga said. According to the WESM operator, Independent Electricity Market Operator of the Philippines (Iemop), Luzon experienced increasing supply and decreasing demand resulting in a lower WESM average price of P2.98 per kilowatt hour (kwh) from 3.52/kwh. Supply stood at 14,422 megawatts (MW), up by 2.6 percent, while demand was down by 2.9 percent to 9,324 MW. Another factor that will affect the rates this January is the collection of the Green Energy Auction

allowance (GEA-All) as approved by the Energy Regulatory Commission (ERC). This is equivalent to an additional P0.0371 per kwh that will appear as a separate line item in customers’ bills beginning this month. “We will announce the final rate adjustment once all data is available. Nonetheless, we remain optimistic that the decrease in demand and consumption of customers will help manage the electricity bills this January,” added Zaldarriaga. Meralco customers reached 8.18 million as of September last year. The utility company also reported a 14-pecent jump in core profit to P40 billion and increase of 9 percent in net income to P36.8 billion from January to September last year.

Immigration reports 6% increase in arrivals in ’25 By Joel R. San Juan @jrsanjuan1573

HE Bureau of Immigration (BI) has reported a total of 15.6 million passenger

arrivals nationwide in 2025, a 6 percent increase compared to 14,733,579 arrivals recorded in 2024. See “Immigration,” A9

urgent reform in wage system By Jovee Marie N. Dela Cruz @joveemarie

HILE he welcomed the decline in the unemployment rate to 4.4 percent in November, the chairman of the House of Representatives’ Committee on Labor and Employment said that urgent reforms in the wage system are needed to ensure that growth is inclusive and sustainable. Cavite Rep. Jolo Revilla reaffirmed his commitment to advance legislation that supports job creation and economic resilience, noting ongoing efforts in the House of Representatives to pass key measures aimed at reducing unemployment and expanding opportunities across various sectors. “It is not enough that our people have jobs – the true measure of our success is employment that offers dignity, decent pay, and job security,” Revilla said. He added that the improving employment figures strengthen Congress’ push for a National Minimum Wage System, which seeks to address long-standing wage disparities resulting from provincial rates and fragmented regional wage-setting. “The drop in unemployment is good news, but it is clear that the number of jobs alone is not enough if wages remain unfair. We must end a system that devalues work simply because of location,” he said. Revilla pointed out that while more Filipinos are finding employment, unequal regional wages continue to drive underemployment, weaken purchasing power, and limit the real economic gains of workers and their families. He noted that the House Committee on Labor and Employment has already taken a decisive step by formally adopting the consolidated National Minimum Wage bill. The measure establishes a single national wage floor and lays the

groundwork for the abolition of the Regional Tripartite Wages and Productivity Boards (RTWPBs). “With the committee’s adoption of the National Minimum Wage bill, we are one step closer to ending decades of unfair wage disparities among Filipino workers,” Revilla said. “Equal work should mean equal pay, regardless of where one is employed.” Under the adopted measure, the current multi-tiered regional wage structure will be replaced by a National Minimum Wage (NMW) that will initially match the highest prevailing regional rate and will never fall below the minimum wage in the National Capital Region. To ensure a smooth transition, the bill provides for a three-year harmonization period to gradually close wage gaps across regions. Rev illa ex plained that the measure balances worker welfare and business sustainability by including adjustment mechanisms, exemptions for qualified micro-enterprises, and stronger enforcement powers for the Department of Labor and Employment, including stiffer penalties for wage violations. He added that abolishing regional wage boards and centralizing wage-setting under a strengthened National Wages and Productivity Commission would result in a more predictable, transparent, and data-driven wage system that benefits both workers and employers. “The decline in unemployment must go hand in hand with raising the dignity of wages,” Revilla said. “Fair pay leads to more stable family incomes, stronger consumer spending, and more sustainable economic growth.” Revilla said the committee’s work on the National Minimum Wage bill, along with measures on occupational safety, construction See “Labor,” A9

Friday, January 9, 2026

‘A wake-up call’: Death of teacher during classroom observation highlights extreme stress in PHL schools By Jovee Marie N. Dela Cruz @joveemarie

HE ACT Teachers party-list mourned the death of public school teacher Agnes Buenaflor, who collapsed and passed away while conducting a class during a scheduled classroom observation, saying the incident exposes the severe pressures faced by Filipino teachers and underscores the urgent need for an immediate review of existing policies. ACT Teachers Party-list Rep. and Deputy Minority Leader Antonio Tinio said Buenaflor passed away on January 7, while teaching a class under “classroom observation” at Pedro E. Diaz High School in Muntinlupa City. “We are deeply saddened by the tragic loss of Ms. Agnes Buenaflor. Her passing is a profound loss not only to her family and loved ones but also to the entire education community,” Tinio said. According to Tinio, the incident highlights the intense stress and anxiety produced by the current teacher evaluation system, particularly classroom observations mandated under DepEd Memorandum No. 89, s. 2025, which requires periodic walkthroughs and full-period observations. “The circumstances surrounding Ms. Buenaflor’s death underscore the immense pressure and stress that teachers face under the current evaluation system. Classroom observations have become a source of anxiety rather than genuine professional development,” Tinio stated. The lawmaker called for a comprehensive national review of the classroom observation and performance evaluation system, which he described as oppressive and counterproductive. “Teachers are under intense pressure because so much of their performance rating for the year depends on these formal classroom observations, which in turn affect performance bonuses and promotion. However, these have become teaching demonstrations prepared well in advance and so do not reflect the actual everyday learning situation nor provide a holistic view of the teacher’s effectiveness.” He noted that Buenaflor, despite being a seasoned teacher nearing the end of her service, still experienced overwhelming stress due to the observation—a reality widely shared by teachers across the country. “Sadly, even though Ms. Buenaflor was an experienced teacher already near the end of her professional service, she nevertheless felt undue stress from the classroom observation. This is an experience commonly shared by the teaching force, from new hires to veterans,” he added. Tinio said that systemic reform is urgently needed. “We must overhaul teacher evaluation systems so they genuinely support professional growth instead of endangering teachers’ well-being. No teacher should feel that their health—or their life—is at risk because of bureaucratic requirements,” he said. “We call on the Department of Education to exercise compassion and immediately review policies that place undue burden on our teachers. Ms. Buenaflor’s death must serve as a wake-up call for systemic change,” he added.

PBBM to visit UAE for sustainability summit and historic trade pact signing By Samuel P. Medenilla @sam_medenilla

RESIDENT Ferdinand Marcos will visit the United Arab Emirates (UAE) next week to attend the Abu Dhabi Sustainability Week and witness the signing of a free trade and defense pact with the said Middle East country. The Chief Executive has accepted the invitation of Sheikh Mohamed bin Zayed Al Nahyan

to attend the event on 12 January 2026. “The President will join other

Heads of State and other government leaders of other countries to tackle issues on energy, water, financial issues, food and safety,” Palace Press Officer Claire Castro said in Filipino during a press briefing in Malacañang last Thursday. Aside from the event, the President will also witness the signing of the Comprehensive Economic Partnership Agreement (CEPA). “The CEPA will be the first ever free trade agreement of the Philippines with a Middle East country, which aims to expand the country’s market access in the Middle East,” Castro said. Last month, the Department of Trade and Industry (DTI) said

Tesda unveils ‘26 priorities: ₧19 billion scholarship fund to target 650K learners By Claudeth Mocon-Ciriaco @claudethmc3

HE Technical Education and Skills Development Authority (Tesda) has laid out the agency’s 2026 priorities delivering quality skills training, opening pathways to employment, and preparing Filipinos for the demands of the future workforce. Secretary Jose Francisco “Kiko” Benitez has emphasized the importance of maximizing resources to generate tangible impact for learners across the country. “This year, we are fortunate to have the biggest budget in Tesda’s history, pero hindi lang ito tungkol sa mas malaking pondo. This means more training, more programs, and more jobs for Filipinos. Nais nating siguraduhin na ang bawat piso ay napupunta sa tamang programa at prayoridad,” Benitez said in a recent press conference. The Tesda chief also thanked

President Ferdinand Marcos for his support of technical vocational education and training (TVET). Among Tesda’s 2026 priorities is the Digital Skills Passport, a platform designed to document learner competencies, support personalized learning pathways, and link skills to training and employment opportunities. At the same time, the platform enables employers to verify workers’ credentials more efficiently and reduce hiring timelines. Tesda will also scale up digital upskilling programs, strengthen partnerships with local government units to deliver training at the community level, and expand programs for high-demand, future-ready industries such as semiconductors, renewable energy, and electric vehicles. Further, Benitez said that the agency aims to train between 600,000 and 650,000 learners nationwide, with the rollout of a P19 billion scholarship program

this year. Previously, in 2025, with strong backing from the President, Tesda strengthened TVET as a key pillar of the country’s education and workforce agenda, ensuring smoother transitions from education to employment and preparing Filipino workers for the demands of a rapidly evolving labor market. Among the major policy reforms were the rollout of the Training Regulations for Early Childhood Care and Development Services NC III, expanded micro-credentialing system, and strengthened partnerships with DepEd and Ched, highlighting the effectiveness of TVET in preparing Filipinos for meaningful employment. “Every training session, every assessment, and every certification issued contributes directly to our mission of connecting training to trabaho. This year, we have even greater opportunities to make an impact on the lives of Filipinos nationwide,” Benitez said.

Villanueva: Doktor Para Sa Bayan law gets ₧1-B budget in ‘26; largest allocation in 5 yrs

ENATOR Joel Villanueva said he looks forward to the implementation of the Doktor Para Sa Bayan law after the program received P1.095 billion in funding under the 2026 General Appropriations Act.

“We’re very grateful to President Bongbong Marcos for supporting our Doktor Para Sa Bayan law by ensuring there is sufficient funding to support the program,” said Villanueva, principal sponsor and author of Republic Act

No. 11509. “Under the 2026 national budget, the Doktor Para Sa Bayan law received its single highest appropriation since being enacted into See “Villanueva,” A8

the CEPA will cover bananas, pineapples, a nd ot her t ropical fruits as well as electronics, machiner y and transport equipment. Based on the latest data from DTI, trade between the Philippines and UAE reached US$1.6 billion, which was lower compared to the US$1.8 billion in 2024 and US$1.9 billion in 2025. Also to be signed during Marcos’ visit to Abu Dhabi, UAE is the memorandum of understanding on Defense Cooperation. “The Defense cooperation memorandum will serve as the solid foundation of cooperation with UAE for the development of the country’s defense technologies,” Castro said.

The Presidential Communications Office (PCO) undersecretary assured the first ever overseas trip of the President this year will benefit Filipinos. “President Marcos’ administration is confident that his upcoming visit to Abu Dhabi w il l be meaningful and beneficial for the Filipino people,” Castro said. T he Ph i l ippines cont inues to maintain close ties with the UAE, which serve as one of the top destinations for overseas Filipino workers (OFW). As of October 2025, the Department of Migrant Workers said 339,834 land-based OFWs went to UAE for employment.

Manila Water strengthens commitment to sustainability, environmental stewardship

ANILA Water continues to strengthen its commitment to sustainability and environmental stewardship through its flagship advocacy program. Dubbed “Lakbayan,” the program provides educational facility tours designed to give participants an in-depth look at the Company’s water and wastewater facilities. The initiative aims to raise awareness on the value of water and promote responsible consumption among communities, partners, and stakeholders. Lakbayan offers a unique opportunity for participants to experience the entire water cycle: from the raw water source and treatment to distribution and wastewater management. Through guided tours of Manila Water’s state-of-the-art facilities, visitors gain firsthand knowledge of the processes that ensure a safe, clean, and reliable water supply, as well as the systems that treat wastewater before returning it to the environment. First implemented in 2006, Lakbayan has engaged thousands of students, local government units, and private organizations, fostering a deeper understanding of the water cycle and the collective role in preserving this vital resource. In 2025, Manila Water, led by its Advocacy Managers and Facility Managers, conducted a total of sixty-five (65) Lakbayan tours, participated by 2,151 individuals. Among the organizations who

participated were the Department of Environment and Natural Resources, DILG-National Capital Region, Bureau of Fire Protection, City Government of Makati, Sangguniang Kabataan of Quezon City, Municipal Environment and Natural Resources Office of Pateros, San Agustin Seminary, University of the Philippines, Technological University of Philippines, Mariano Marcos State University, Western Mindanao State University and other public and private schools and private businesses. “Water is a finite resource and its responsible use is a shared obligation, yet it is often overlooked,” said Jeric Sevilla, Manila Water Corporate Communication Affairs Group Director. “Lakbayan allows us to share the science, innovation, and our dedication behind every drop. Our goal is to inspire individuals and organizations to take meaningful action, whether through simple daily habits or large-scale programs, to conserve water and protect the environment. Every effort, big or small, creates a ripple of impact,” he added. T he pro g r a m u nde r scores Manila Water’s advocacy for water conser vation and environmental protection. By showcasing the complexity and importance of water and wastewater m a n a ge me nt , L a k bay a n e m powers participants to become champions of sustainability in their own communities. Jonathan L. Mayuga

₧182 million in scholarships in ‘26 budget to address national shortage of guidance counselors, specialists

ORE than P182 million has been allotted for scholarships in master’s degrees in Guidance Counseling or Psychology and other specializations - allocations that are necessary to resolve the critical shortage of mental health and inclusive education professionals in the Philippine education system. “The historic budget we allotted to the education sector for 2026 includes investments that will support inclusive education and uphold the mental health and well-being of our learners,” EDCOM 2 Commissioner Senator Win Gatchalian said. “These scholarships to support future guidance counselors, therapists, and other allied health professionals are consistent with the progressive realization of promoting mental health in basic education and supporting inclusive education for learners with

disabilities,” Gatchalian added. Budget allocations under the Fiscal Year 2026 General Appropriations Act under the Commission on Higher Education include “Specialized Post-Graduate Scholarships for DepEd [Department of Education] Personnel.” Of this amount, P121.37 million is allocated to support at least two DepEd per Schools Division Office (SDO), while another P60.68 million is earmarked for at least one qualified employee per SDO to specialize in support of inclusive education programs. T he GA A a lso mandates a return ser v ice agreement for scholars. Under the special provision, the scholarship recipients “shall commit to ser ve in public schools or government hea lth facilities for a per iod equiva lent to the number of years they received the scholarship”. Underser ved areas and

schools with inclusive education programs are prioritized. Data from the Commission reveals a staggering gap in professional supply, noting that in the 2023-2024 school year, there were fewer than 300 graduates nationwide for a Master of Arts in Guidance Counseling. “True inclusivity in education means having the right people on the ground. Through these investments, we ensure that our Schools Division Offices [SDOs] and Inclusive Learning Resource Centers are staffed with multidisciplinary teams—from registered guidance counselors [RGCs] and psychologists, to therapists,” Rep. Roman Romulo said. The Commission has also highlighted the need for specialists to comprise multidisciplinary teams in Inclusive Learning Resource Centers (ILRCs). Under the CHED Merit Scholarship Program, prior-

ity will be given to undergraduate students enrolled in Educational Psychology, Physical Therapy, Occupational Therapy, and Speech Language Pathology to ensure that the sixteen-member teams mandated by RA 11650 can be fully realized. Recipients of these scholarships will be required to fulfill a return service obligation in public schools or government health facilities, with a specific focus on deployment to underserved areas and schools with active inclusive education programs. “The return service agreement is a vital component of this budget. It guarantees that the expertise acquired by our scholars will be deployed where it is needed most: in our public schools and underserved communities, serving learners with diverse needs,” Romulo added. Complementing these efforts, the Teacher Education Council

(TEC) received PHP 103 million for its Teacher Education Scholarship Program. This funding is intended to address widespread teacher specialization mismatches—where approximately 64% of teachers handle subjects outside their majors—by funding 1,200 scholarship slots. These slots include 500 dedicated positions for Special Needs Education and another 500 for Early Childhood Education, ensuring that educators in the basic education sector possess the specialized expertise necessary to support learners with diverse needs effectively. “EDCOM 2 data revealed a staggering mismatch in our system. We cannot expect quality education if our educators are not equipped with the right expertise”, EDCOM 2 Executive Director Dr. Karol Mark Yee said. “This funding for the Teacher See “Budget,” A8

Friday, January 9, 2026

TheWorld

Editor: Angel R. Calso

US seeks to assert control over Venezuelan oil with tanker seizures and sales worldwide By Konstantin Toropin, Josh Boak, Jill Lawless & Michael Biesecker The Associated Press

ASHINGTON—President Donald Tr u m p’s a d m i n i s t r at i o n o n Wednesday sought to asser t its control over Venezuelan oil, seizing a pair of sanctioned tankers transporting petroleum and announcing plans to relax some sanctions so the US can oversee the sale of Venezuela’s petroleum worldwide. Trump’s administration intends to control the distribution of Venezuela’s oil products globally following its ouster of President Nicolás Maduro in a surprise nighttime raid. Besides the United States enforcing an existing oil embargo, the Energy Department says the “only oil transported in and out of Venezuela” will be through approved channels consistent with US law and national security interests. That level of control over the world’s largest proven reserves of crude oil could give the Trump administration a broader hold on oil supplies globally in ways that could enable it to influence prices. Both moves reflect the Republican administration’s determination to make good on its effort to control the next steps in Venezuela through its vast oil

resources after Trump pledged the US will “run” the country. Vice President JD Vance said in an interview the US can “control” Venezuela’s “purse strings” by dictating where its oil can be sold. “We control the energy resources, and we tell the regime, you’re allowed to sell the oil so long as you serve America’s national interest,” Vance said in an interview to air on Fox News Channel’s “Jesse Watters Primetime.” The vice president added, “And that’s how we exert incredible pressure on that country without wasting a single American life.” Secretary of State Marco Rubio suggested that the oil taken from the sanctioned vessels seized in the North Atlantic and the Caribbean Sea would be sold as part of the deal announced by Trump on Tuesday under which Venezuela would provide up to 50 million barrels of oil to the US. Venezuela’s interim authorities “want that oil that was seized to be part of this deal,” Rubio told reporters after briefing lawmakers Wednesday about the Maduro operation. “They understand that the only way they can move oil and generate revenue and not have economic collapse is if they cooperate and work with the United States.”

Seizing 2 more vessels

US European Command said on social media that the merchant vessel Bella 1 was seized in the North Atlantic for “violations of US sanctions.” The US had been pursuing the tanker since last month after it tried to evade a blockade on sanctioned oil vessels around Venezuela. Homeland Security Secretary Kristi Noem revealed US forces also took control of the M Sophia in the Caribbean Sea. Noem said on social media that both ships were “either last docked in Venezuela or en route to it.” The two ships join at least two others that were taken by US forces last month—the Skipper and the Centuries. The Bella 1 had been cruising across the Atlantic nearing the Caribbean on Dec. 15 when it abruptly turned and headed north, toward Europe. The change in direction came days after the first US tanker seizure of a ship on Dec. 10 after it had left Venezuela carrying oil. When the US Coast Guard tried to board the Bella 1, it fled. US European Command said a Coast Guard vessel had tracked the ship “pursuant to a warrant issued by a US federal court.” As the US pursued it, the Bella 1 was renamed Marinera and flagged to Russia, shipping databases show. A US official,

who spoke on the condition of anonymity to discuss sensitive military operations, said the ship’s crew had painted a Russian flag on the side of the hull. The Russian Foreign Ministry said it had information about Russian nationals among the Marinera’s crew and, in a statement carried by Russia’s state news agencies Tass and RIA Novosti, demanded that “the American side ensure humane and dignified treatment of them, strictly respect their rights and interests, and not hinder their speedy return to their homeland.” Separately, a senior Russian lawmaker, Andrei Klishas, decried the US action as “blatant piracy.” The Justice Department is investigating crew members of the Bella 1 vessel for failing to obey Coast Guard orders and “criminal charges will be pursued against all culpable actors,” Attorney General Pam Bondi said. “The Department of Justice is monitoring several other vessels for similar enforcement action—anyone on any vessel who fails to obey instructions of the Coast Guard or other federal officials will be investigated and prosecuted to the fullest extent of the law,” Bondi said on X. The ship had been sanctioned by the US in 2024 on allegations of smuggling cargo for a company linked to Lebanese militant

group Hezbollah, which is backed by Iran.

Easing some sanctions to sell Venezuela’s oil

THE Trump administration, meanwhile, is “selectively” removing sanctions to enable the shipping and sale of Venezuelan oil to markets worldwide, according to an outline of the policies published Wednesday by the Energy Department. The sales are slated to begin immediately with 30 million to 50 million barrels of oil. The US government said the sales “will continue indefinitely,” with the proceeds settling in US-controlled accounts at “globally recognized banks.” The money would be disbursed to the US and Venezuelan populations at the “discretion” of Trump’s government. Venezuelan state-owned oil company PDVSA said it is in negotiations with the US government for the sale of crude oil. “This process is developed under schemes similar to those in force with international companies, such as Chevron, and is based on a strictly commercial transaction, with criteria of legality, transparency and benefit for both parties,” the company said in the statement. Acting President Delcy Rodríguez on Wednesday night tried to normalize the latest chapter in US-Venezuela economic relations, calling them “neither extraordinary nor irregular.” “Venezuela must diversify its relations and have relations with all the countries of this hemisphere, just as it should with Asia, Africa, the Middle East and Europe,” she said during a televised meeting with lawmakers and senior government officials. Th e U S p l a n s t o a u t h o r i ze t h e importation of oil field equipment, parts and services to increase Venezuela’s oil production, which has been roughly 1 million barrels a day. The Trump administration has indicated it also will invest in the electricity grid to increase production and the quality of life for people in Venezuela, whose economy has been unraveling amid changes to foreign aid and cuts to state subsidies, making necessities, including food, unaffordable to millions. Meanwhile, Trump abruptly changed his tone about Colombian President Gustavo Petro. Trump said Wednesday that they had

exchanged a friendly phone call and he had invited the leader of the South American country to the White House. Trump had said earlier this week that “Colombia is very sick too” and accused Petro of “making cocaine and selling it to the United States.”

Ships said to be part of a shadow fleet

NOEM said both seized ships were part of a shadow fleet of rusting oil tankers that smuggle oil for countries facing sanctions, such as Venezuela, Russia and Iran. After the seizure of the now-named Marinera, which open-source maritime tracking sites showed was between Scotland and Iceland earlier Wednesday, the U.K. defense ministry said Britain’s military provided support, including surveillance aircraft. “This ship, with a nefarious history, is part of a Russian-Iranian axis of sanctions evasion which is fueling terrorism, conflict, and misery from the Middle East to Ukraine,” U.K. Defense Secretary John Healey said. The capture of the M Sophia, on the US sanctions list for moving illicit cargos of oil from Russia, in the Caribbean was much less prolonged. The ship had been “running dark,” not having transmitted location data since July. Tankers involved in smuggling often turn off their transponders or broadcast inaccurate data to hide their locations. Samir Madani, co-founder of TankerTrackers.com, said his organization used satellite imagery and surface-level photos to document that at least 16 tankers had left the Venezuelan coast since Saturday, after the US captured Maduro. The M Sophia was among them, Madani said, citing a recent photo showing it in the waters near Jose Terminal, Venezuela’s main oil export hub. Windward, a maritime intelligence firm that tracks such vessels, said in a briefing to reporters the M Sophia loaded at the terminal on Dec. 26 and was carrying about 1.8 million barrels of crude oil—a cargo that would be worth about $108 million at current price of about $60 a barrel. Lawless reported from London. Associated Press writer Regina Garcia Cano in Caracas, Venezuela, contributed to this report.

TheWorld

www.businessmirror.com.ph

US pushes for Greenland business, keeping acquisition ambition alive By Joe Deaux

NITED STATES officials are rushing to come up with options for business deals and other ways to step up links to Greenland, taken by surprise by President Donald Trump’s renewed demand to take over the island, people familiar with the matter said. Trump has long wanted the territory for what he says are security reasons. But after a flurry of activity on the issue early last year, including a trip there by his vice president, once-urgent efforts to realize the president’s vision moved to the back burner, according to the people, who asked not to be identified speaking about matters that aren’t public. But his sudden flurry of public comments about taking Greenland in the days following the US operation to capture former Venezuelan strongman Nicolas Maduro on Jan. 3 has made the issue a top priority again. On Tuesday, the White House said it wouldn’t rule out military action, while European leaders issued an unprecedented warning to dissuade Washington from trying to seize territory from a NATO ally. For the moment, US officials are focused on potential business deals to give the US a greater footprint on the island, according to people close to the process. Those include rare earth minerals mining projects, as well as hydroelectric power and other ventures. But these projects likely aren’t far enough along to satisfy Trump’s desire for dramatic results quickly, the people said. More ambitious ideas to bring Greenland closer to the US politically haven’t progressed amid the cool reception from the government there and in Denmark, the people said. “President Trump has been talking about the United States acquiring Greenland for over a year – even prior to taking office this term,” White House spokeswoman Anna Kelly said in response to a request for comment. “All core members of the President’s national security team are apprised of all major foreign policy updates. For obvious reasons, people who do not respect operational security and whine to Bloomberg with outright lies are not part of that group.” The use of force to take Greenland isn’t under serious consideration, according to the people familiar with the situation. Senior Republicans also have sought to push back this week against the idea that the US is considering military action. “We are not looking at doing a military operation” in Greenland, Senator Roger Wicker, chairman of the Senate Armed Service Committee, told reporters Wednesday. “It would be great if Greenland decided they wanted to become a part of the United States, and if Denmark said we understand the reason why you want it. Let’s make a deal, but it would only be under appropriate conditions.” But Denmark, which has controlled Greenland as a territory since 1953, has rejected giving it up, brushing off a proposal from Trump in his first term to buy the island. Copenhagen’s offers to allow the US a greater military and economic presence there haven’t satisfied the Trump administration. White House spokeswoman Karoline Leavitt said Wednesday that buying the island is still on the table, as well. “His team is currently talking about what a potential purchase would look like,” she said. Among the other ideas the White House has considered is a Compact of Free Association, a deal along the lines of agreements the US has with Pacific island nations, according to people close to the process. That would likely require Denmark to give up control, however. European officials have struggled to keep up with the often-conflicting signals from the US administration. After reports emerged Tuesday that Secretary of State Marco Rubio had told top legislators, including Wicker, in a closed-door meeting that the administration was still seeking to buy Greenland, a top Republican on Capitol Hill played that down Wednesday. With assistance from Alicia Diaz, Roxana Tiron and Kate Sullivan/Bloomberg

Friday, January 9, 2026

China and Japan, neighbors in East Asia, start 2026 on tense note again By Ted Anthony AP National Writer

EIJING—They’re at it again. China and Japan—frenemies, trading partners and uneasy neighbors with a tortured, bloody history they still struggle to navigate—are freshly at each other’s rhetorical throats as 2026 begins. And it’s over the same sticking points that have kept them resentful and suspicious for many decades: Japan’s occupation of parts of China in the 20th century, the use of military power in East Asia, economics and politics—and, of course, pride. From insinuations that Chinese citizens face dangers in Japan to outright accusations of resurgent Japanese imperialism, this first week of the year in China has been marked by the communist government scorning Tokyo on multiple f ronts and noticeably embracing the visiting leader of another crucial strategic neighbor: South Korea. The latest chapter in JapanChina enmity surged In November when Japan’s new leader waded into choppy bilateral waters. She said, in effect, that if China moved militarily against Taiwan, she wouldn’t rule out involving Japan’s constitutionally defense-only military. That didn’t go over well in Beijing, which has teed off on Tokyo over the years for far less. “Prime Minister Sanae Takaichi’s er roneous remarks concer ning Taiwan infringe upon China’s sovereignty and territorial integrity, blatantly interfere in China’s internal affairs, and send a military threat against China,” Foreign Ministry spokesperson Mao Ning said Wednesday, a week after military exercises around the island ended. “We urge Japan to face up to the root causes of the issue, reflect and correct its mistakes.” That’s hardly uncommon language. China frequently demands Japan ponder the path it has taken and correct its “erroneous” course. It’s rhetoric, sure, but it goes far deeper. And sometimes it’s hard to tell what’s real umbrage and what’s ginned up for domestic political consumption. Because when it comes to the China-Japan relationship, anger remains a powerful and enduring tool on both sides. And there’s no indication that’s going away anytime soon.

A long history of antagonism FROM the time Japan colonized Taiwan in 1895 after a war with Qing Dynasty China, a deep suspicion and at times outright enmity has existed between the two countries. It worsened in the 1920s and 1930s after Japan’s brutal occupation of parts of China resulted in torture and deaths that Chinese resent to this day. At the same time, Japanese leaders have sometimes thrown incendiary political footballs like visits to the Yasukuni Shrine, a memorial to Japanese who gave their lives in the nation’s wars—including some war criminals from the Sino-Japanese wars. China, like clockwork, responds with indignation. Japan lost World War II to the Allied powers and relinquished offensive military powers under a USdrafted constitution, even as the current communist Chinese government was establishing the People’s Republic in 1949. Since then, any hint of Japanese military assertiveness has drawn great umbrage

here. Disputes over territory, such as an island chain called Diaoyu by China and Senkaku by Japan, spike occasionally The enmity, pulled out when something is perceived as aggressive or anger is required for a domestic audience, lurks barely beneath the surface, ready to pop. Even today, cartoons circulate online in China depicting Japanese as demonic, aggressive and anti-China. This week has been an illuminating case study. On Tuesday, China slapped restrictions on “dual-use exports” to Japan—anything, it said, that Japan could adapt for military use. Though it didn’t specify what the ban includes, anything from drones to rare earths could be considered dual-use. The lack of specificity allows China to adjust its approach as it goes—making it more or less strict depending on where the political winds are blowing. Japan demanded the move be rescinded. “These measures, which only target Japan, deviate significantly from international practice,” its Foreign Ministry said, calling China’s actions “absolutely unacceptable and deeply regrettable.” This came days after it protested Chinese mobile drilling rigs in the East China Sea. While the Chinese Commerce Ministr y did not mention rare earths curbs, the official newspaper China Daily, seen as a government mouthpiece, quoted anonymous sources saying Beijing was considering tightening exports of certain rare earths to Japan. On Wednesday, the focus turned to a gas called dichlorosilane, used in computer chip manufacturing. The Commerce Ministry said it had launched an investigation into why the price of dichlorosilane imported from Japan had decreased 31% between 2022 and 2024. “The dumping of imported products from Japan has damaged the production and operation of our domestic industry,” it said. Finally, on Thursday, China’s Arms Control and Disarmament A ssociation, a nongover nment agency (inasmuch as any agency in China is nongover nmenta l) released with some fanfare a report provocatively titled “Nuclear Ambitions of Japan’s Right-Wing

Forces: A Serious Threat to World Peace.” It spent 29 pages outlining worries and accusations that Tokyo harbors dangerous nuclear ambitions. But it also went broader, invoking once again its stance that the nation’s right-wing leaders—and, by extension, the whole country itself—have “failed to reflect on Japan’s history of aggression.” “Japan has never been able to fully eliminate the scourge of militarism in the country,” the report said. “If Japan’s right-wing forces are left free to develop powerful offensive weapons, or even possess nuclear weapons, it will again bring disaster to the world.”

Enter Seoul ALSO part of the equation this week: China’s visible pivot to another regional neighbor, South Korea, whose president spent four days in Beijing. Seoul has a bumpy history of its own with Japanese aggression and also sporadic— though generally less intense— friction with Beijing, a longtime supporter and ally of its rival North Korea. Chinese media gave splashy coverage to Lee Jae Myung’s visit, touting new Beijing-Seoul agreements on trade, environmental protection and transportation— and notably technology, given the dual-export ban. Also visible: Lee at two business events watching major companies pledge increased collaboration. The sides signed 24 export contracts worth a combined $44 million, according to South Korea’s Ministr y of Trade, Industr y and Resources. The burst of official affection toward South Korea didn’t stop with Lee. While he was here, Chinese media reported that South Korea overtook Japan as the leading destination for outbound flights from the mainland over New Year’s. That’s on top of Beijing’s recent efforts to discourage Chinese from traveling to Japan, citing “significant risks to the personal safety and lives of Chinese citizens” there. For now, Japan-China tension remains a matter of rhetoric and policy. But no one is predicting a quick resolution. With Japan’s staunch ally, the United States, planning to furnish more arms to Taiwan in a

single sale than ever before, there’s too much at stake for both East Asian nations at this moment—and too much contentious history—for an easy and quick solution. “This time...de-escalation and a return to the status quo may not be as easily achieved,” Sebastian Maslow, an East Asia specialist and associate professor of interna-

tional relations at the University of Tokyo, wrote in The Conversation last month. “With diplomatic channels in short supply and domestic political agendas paramount, an off-ramp for the current dispute is not in sight.” Ted Anthony has written about China for The Associated Press since 1994.

Friday, January 9, 2026

Beyond Grade 6: DepEd’s 2026 feeding program to include at-risk older student By Claudeth Mocon-Ciriaco @claudethmc3

OR the first time in 2026, the School-Based Feeding Program (SBFP) w ill extend to approximately 140,000 nutritionally at-risk, disadvantaged, and vulnerable learners beyond Grade 6. This includes pregnant learners enrolled in public schools, who will receive nutritional support for 180 feeding days, according to the Department of Education (DepEd). DepEd said that this component of the program will be implemented in coordination with the Department of Health (DOH), Department of Social Welfare and Development (DSWD), and the Department of the Interior and Local Government (DILG), integrating

maternal and child health support. The expanded coverage, the DepEd added, reflects the government’s renewed focus on improving learning readiness by addressing hunger and malnutrition, which continue to affect school attendance, participation, and overall academic performance, particularly among learners from disadvantaged communities. Backed by a record budget allocation of P1.015 trillion for basic education, the will significantly expand the SBFP, targeting around 4.6 million learners nationwide as part of the government’s push to address malnutrition and improve school participation. With the strong support of President Ferdinand R. Marcos Jr. and the Congress, the Department has secured P 25.7 billion for the

expanded SBFP, allowing wider coverage across early grades and nutritionally at-risk learners in higher levels. Under the expanded program, DepEd will provide nutritious meals to about 1.52 million kindergarten learners and 1.79 million Grade 1 learners for 200 feeding days. An additional 1.18 million learners in Grades 2 to 6 who are classified as wasted or severely wasted will also receive meals for the same duration. “Malinaw po sa datos na hindi makakapag-aral nang maayos ang bata kung gutom siya. Kaya pinalalawak natin ang SchoolBased Feeding Program para mas maraming mag-aaral ang mabigyan ng sapat na nutrisyon, lalo na sa mga unang baitang at sa mga

Maynilad announces free desludging service for Jan By Jonathan L. Mayuga @jonlmayuga

AYNILAD Water Services, Inc. (Maynilad) is offering septic tank cleaning services to its residential and semibusiness customers this January in select parts of Las Piñas, Manila, Muntinlupa, Parañaque, Pasay, Quezon City, Valenzuela, and Cavite Province at no extra cost. In a statement, Maynilad said its sanitation program is one of the company’s efforts to lessen pollution loading into Metro Manila’s river systems. Maynilad is the largest private water concessionaire of Metropolitan Waterworks and Sewerage System (MWSS) in the Philippines in terms of customer base. Its service area includes the cities of Manila (all but portions of San Andres and Sta. Ana), Quezon City (west of San Juan River, West Avenue, EDSA, Congressional, Mindanao Avenue, the north-

ern part starting from the Districts of Holy Spirit and Batasan Hills), Makati (west of South Super Highway), Caloocan, Pasay, Parañaque, Las Piñas, Muntinlupa, Valenzuela, Navotas, and Malabon, all in Metro Manila; and the cities of Cavite, Bacoor, and Imus, and the municipalities of Kawit, Noveleta, and Rosario, all in the province of Cavite. “We ask our customers to avail of this service, as it will help to protect community health and the environment,” said Engr. Zmel Grabillo, Maynilad’s Head of Wastewater Management. Customers residing in Barangay Manuyo II in Las Piñas; Brgy. Port Area, Sampaloc, and Sta. Cruz in Manila; Brgy. Tunasan in Muntinlupa; Brgy. San Roque in Pasay; Brgy. Baclaran, La Huerta, Sto. Niño, and Tambo in Parañaque; Brgy. Baesa, Damayan, Kaligayahan, Manresa, Mariblo, Nagkaisang Nayon, San Antonio, San Jose, St. Peter, and Unang Sigaw in Quezon City; and

Brgy. Balangkas, Canumay East, Gen. T. De Leon, and Lingunan in Valenzuela may avail of Maynilad’s desludging service. Moreover, some Maynilad customers in Cavite Province, particularly Brgy. Bayanan, Dulong Bayan, Habay II, Mabolo I, Mambog I, Mambog V, Molino I and II, Panapaan I and II, Panapaan IV to VII, Talaba III, Talaba IV, and Talaba VII in Bacoor City; Brgy. Malagasang I-E, Malagasang I-D, and Malagasang I-F in Imus City may avail of the company’s septic tank cleaning services at no extra cost. Septic tank cleaning service normally costs around P4,700 per truck. Maynilad customers interested in availing of the company’s septic tank cleaning service may call the Maynilad Hotline 1626 to determine the requirements and procedures. Additional information is also available in the company’s website, www. mayniladwater.com.ph, and social media accounts (X: @maynilad, Facebook: /MayniladWater).

Security for this year’s ‘Traslacion’ all set–PNP By Rex Anthony Naval

LL security preparations for the annual “Traslacion” or the Feast of the Black Nazarene this coming Jan. 9 is set, acting Philippine National Police (PNP) chief Lt. Gen. Jose Melencio Nartatez Jr. said on Thursday. In a statement, Nartatez said their comprehensive security and crowd management plan has been already implemented since Wednesday night during the “Pahalik” rites for Nazareno 2026 as devotees began arriving in large numbers. “We in the PNP are ready for the Traslacion. The security measures are complete and will be adjusted real-time while coor-

dination with other government agencies are continuously being done, including crowd management plans for the Pahalik,” he added. Nartatez also said that they already deployed a sufficient number of police personnel at the Quirino Grandstand and even in Quiapo to ensure public safety while allowing devotees to properly express their faith. Plainclothes operatives and intelligence units were also positioned to counter pickpocketing, theft, scams, and other opportunistic crimes during the Pahalik. Police assistance desks and dedicated personnel were also assigned to help senior citizens, persons with disabilities, women and children.

The traditional Pahalik for the Feast of Jesus Nazareno started at 7 p.m. on January 7 at the Quirino Grandstand in Manila, giving devotees the opportunity to touch and kiss the image Some roads were closed beginning including Independence Road, Katigbak Drive, and South Drive, while allowing limited passage for access to nearby hotels. More road closures are set to start at 9 p.m. on Jan. 8, in preparation for the Traslacion on Friday. At least 18,000 policemen will be tapped to secure the procession while strict security measures, including gun and liquor bans, and even the use of firecrackers will be prohibited.

pinaka-nangangailangan. Higit sa pagbibigay ng pagkain, layunin ng programa na matulungan ang mga bata na manatili sa paaralan at maging handa sa pagkatuto arawaraw,” Education Secretary Juan Edgardo “Sonny” Angara said. To improve program targeting and implementation, the Department will roll out the System for Intelligent Growth and Learner Anthropometry (SIGLA), an Artificial Intelligence-enabled platform designed to streamline the collection and validation of learners’ health and nutrition data. Local government units may serve as implementing partners through memoranda of agreement, with DepEd encouraging on-the-ground collaboration in program delivery. In providing meals and other learner needs,

the Department said preference and priority will be given to locally produced food and refreshments, or Philippine-made products, in line with the Tatak Pinoy Act (Republic Act No. 11981), supporting local producers while ensuring fresh and culturally appropriate food for learners. Meanwhile, milk feeding will be handled by the National Dairy Authority and the Philippine Carabao Center, supporting both learner nutrition and the local dairy industry. DepEd sa id t he e x pa nded School-Based Feeding Program underscores the administration’s commitment to making schools not only centers of learning, but also safe and supportive spaces where learners’ basic needs are addressed.

DA bets on greenhouses, ₧2.4B food hubs to shield PHL food supply from shocks

O ensure the stability of the country’s food supply from supply shocks and extreme weather, the Department of Agriculture (DA) is pushing for mainstreaming greenhouses and the construction of more food hubs. During a press briefing in Malacañang last Thursday, DA Francisco P. Tiu Laurel Jr. announced their plan in 2027 for a “white revolution” or the large-scale promotion of greenhouses for farmers. He said crops in greenhouses are resilient from the effects of droughts or heavy rainfall due to its controlled environment. “We need more of this controlled atmosphere of greenhouses...in order to be able to produce even through heavy rainfall or through lack of water,” Laurel said partly in Filipino. He noted the use of greenhouses by local farmers remains compared to their counterparts abroad. The DA chief cited the case of South Korea, which has 50,000 hectares of greenhouses while the Philippines only has 500 hectares of such a facility. Aside from greenhouses, DA is also aiming for the construction of more food hubs, which feature cold storage facilities, to keep the country’s food supply stable during calamities. He said P2.4 billion of their

P215 billion budget this year will be allocated for the construction of such food hubs in Clark, Pampanga; Manolo Fortich, Bukidnon; and Pili, Camarines Sur. The bulk or P2 billion of the funds will be used for the construction of the food hub in Clark, which is expected to be completed by the first quarter of 2027. The construction of similar facilities in Manolo Fortich and Pili will each get P500 million. The food hub in Manolo Fortich will be built on a 40-hectare lot, with a grain terminal and cold storage nearby, while the food hub in Pili will be built next to a mega cold storage, which is expected to be completed next month. Laurel said farmers can bring their excess produce in the said cold storage facilities of the food hubs. This will allow them to sell their products at a later date. The DA chief said the said investments in infrastructures is part of their efforts to make sure their budget will result in tangible gains for farmers, fisherfolks and other agriculture stakeholders. “These projects reduce losses, raise productivity, connect our producers more effec tively to markets and bring greater development to the countryside,” Laurel said. Samuel P. Medenilla

Budget. . . Continued from A5

Education Council is a strategic intervention to close this gap. By specifically targeting Special Needs and Early Childhood Education, we are moving from merely counting teachers to ensuring we have the right teachers for the specific needs of Filipino learners.”

Villanueva. . . Continued from A5

law in 2021,” explained Villanueva in a statement. “In fact, the 2026 budget of the Doktor Para Sa Bayan law matched the total appropriations for the program in the past five years.” From 2021 to 2025, the Doktor Para Sa Bayan law received P1.075 billion, which the Commission on Higher Education (CHED) used to finance the medical scholarships and return service program (MSRSP) and establish medical schools at state universities and colleges across the country, Villanueva explained. Villanueva appealed to the CHED leadership to facilitate and expedite the establishment of more medical schools in state universities and colleges to encourage more students to pursue a career in medicine. “We are prepared to extend any assistance that the CHED may need. We look forward to receiving periodic updates from the commission regarding the implementation of the program this year especially in light of the huge funding” Villanueva said. “We want to ensure that the CHED will make good on their commitments so that the funds are spent appropriately and the goals of the program are achieved.” The Doktor Para sa Bayan law sought to have at least one public school within a region offering a medicine course where scholars can study to become doctors, Villanueva said. After passing the boards, MSRSP scholars are expected to do their return service within the public health system equivalent to how long they were scholars under the program. The Doktor Para sa Bayan Act aims to produce more physicians by offering free tuition, book, living and other allowances to qualified beneficiaries. The law requires scholars to serve in public health facilities for at least one year for every scholarship year enjoyed.

James Deakin decries ‘violation of due process’ after LTO publicizes son’s reckless driving footage By Lenie Lectura @llectura

LO G G E R J a m e s D e a k i n o n Thursday expressed surprise and disappointment regarding a press

conference held by the Land Transportation Office (LTO) where the agency showed a video of the reckless driving incident committed by his son. He reiterated that the family is not contesting the violations cited by Skyway traffic enforcers after the younger Deakin crossed a double solid line on December 18, 2025. “If it’s reckless driving, it’s reckless driving. I just wanted clarification…I contacted Asec. [LTO Chief Assistant Secretary Markus Lacanilao] on December 20 to ask for a little clarification. He didn’t want to talk to me about it and he just said to go to the LTO and sort it out there. “So, I did that, and I hit several walls there. And then I didn’t bother contesting it anymore because we missed the five-day period, and I couldn’t get access to the CCTV so I just left it at that. So you can imagine my surprise where a day or two later he’s holding a press con and he’s showing the entire country this footage that I have asked for. I would imagine that due process would be the extended to the person who’s requesting for it, the person who’s actually got the violation, should have the right to see their own evidence before the rest of the world,” Deakin said during an interview on Morning Matters.

The LTO chief said Deakin’s son violated laws for reckless driving and that the vehicle lacked proper registration and was carrying dealer-issued documents. “Technically, the vehicle has no papers. The documents presented is from the importer to the dealer. What does that mean? It has not yet been sold to a buyer and should not have be driven on the road. Under our rules, driving an unregistered vehicle is considered reckless driving,” said Lacanilao. Deakin’s son was given five days to contest the violation but failed to appeal it. The LTO has issued a show-cause order against the vehicle dealer for allowing the car to be released without proper documents. Likewise, a subpoena was issued requiring Deakin to explain why the violation should not be considered reckless driving. “If I had seen the video and it was explained to me that this constitutes reckless driving, whether or not I agree, if that’s what they constitute as reckless driving, I accepted it. So, you know, this is what frustrates me here, is he was asked a question about the ease of doing business, and he answered a completely different question,” he said. See “LTO,” A9

Friday, January 9, 2026

Lawmaker pushes magna carta for DRRM workers By Jovee Marie N. dela Cruz @joveemarie

LEGISLATOR on Thursday vowed to work for the inclusion of the proposed Magna Carta for Public Disaster Risk Reduction and Management (DRRM) Workers in the 20th Congress’ list of priority measures. Pa ra ñ a q u e R e p. B r i a n R ay m u n d Yamsuan said he plans to discuss the proposed Magna Car ta with Speaker Faustino Dy III and House Majority Leader Ferdinand Alexander Marcos to explore the possibility of adopting the measure as part of the Common Legislative Agenda of the Legislative-Executive Development Advisory Council (Ledac). The proposed magna carta, which Yamsuan filed under House Bill 5239, seeks to improve working conditions and institutionalize benefits for public DRRM personnel nationwide. “DRRM workers often risk their lives to save others. They are indispensable, not only to our disaster preparedness, response, and recovery operations, but also to our efforts to build more resilient communities. We will discuss the proposed Magna Carta with the Speaker and our Majority Leader, possibly before Congress resumes session on January 26,” said Yamsuan. He added that consultations with key representatives of the public DRRM sector will also be conducted to ensure that the proposed measure fully responds to their needs. Yamsuan made the commitment following appeals from public DRRM workers led by Pasig City DRRM Office chief Bryant Wong, who urged Congress to immediately pass the long-pending measure. The lawmaker also expressed support for a long-overdue sunset review of Republic Act 10121, or the Philippine DRRM Act enacted 15 years ago, to assess its effectiveness and determine how it can be further strengthened to improve disaster response, particularly at the community level. HB 5239 and similar measures in the House have been referred to the Committee on Disaster Resilience. In the Senate, counterpart bills have been filed by Sens. Loren Legarda and Jinggoy Estrada, among others.

Aphelion. . . Continued from A3

66% further. The air will become colder, and our bodies are not used to this temperature—it is a significant difference,” it said. Raymundo, however, debunked the claim that the distance of Earth being far from the Sun would affect the weather as the message claims. He explained that this December and January, the southern hemisphere, such as Australia, is facing the sun because of the summer solstice. Meanwhile, the other side, the southern hemisphere, is experiencing a colder climate because of the winter

Immigration. . . Continued from A4

Immigration Commissioner Joel Anthony Viado said the number indicated a sustained growth in international travel to and from the Philippines. Viado said immigration officers at all international ports of entry recorded 15,608,868 arrivals from January to December 2025, including 6,704,007 foreign nationals. The BI noted that most of foreign nationals who travelled to the Philippines came from South Korea totaling 1,453.239; the United States, 1,413,192; Japan, 523, 493; China, 458,809; and Australia, 379,720. The BI chief emphasized that the bureau remains committed in supporting the govern-

“DRRM workers, while exposing themselves to significant risks, including physical danger, psychological stress, and occupational health gaps, especially during disaster response operations, face the challenge of insufficient benefits. Our proposed measure seeks to address these inadequacies by institutionalizing measures that will promote their welfare,” Yamsuan said. Among the benefits proposed under HB 5239 are hazard allowances; access to protective equipment; free vaccinations and other prophylactic medicines; and compensation for work-related injuries and illnesses. A key feature of the bill is the establishment of a Public DRRM Workers’ Education Trust Fund, which will provide educational assistance to children and dependents of DRRM workers who die in the line of duty. The assistance will cover primary, secondary, and tertiary education, including up to four years of undergraduate studies in accredited institutions. Wong earlier noted the importance of including psychosocial support for DRRM workers who frequently experience workrelated stress. Yamsuan said this provision is already included in HB 5239, along with mandatory continuing training, scholarship opportunities, and other capacity-building programs. The bill also provides for mandatory insurance coverage, medical support, and retirement benefits for qualified DRRM workers. Under the measure, a “public DRRM worker” refers to government personnel engaged in any or all thematic pillars of disaster risk reduction and management, including prevention and mitigation, preparedness, response, and rehabilitation and recovery. HB 5239 further entitles public DRRM workers to over time pay, night-shift differentials, leave benefits, transportation, communication and subsistence allowances, laundry allowances when uniforms are required, and legal assistance related to the performance of official duties. The bill also grants a monthly longevity pay equivalent to five percent of the worker’s basic monthly salary to public DRRM workers who have rendered at least five years of continuous, efficient, and meritorious service. solstice.” “Right now, the cooler climate we are experiencing here in the Philippines will last until the third week of February, because the ice in Siberia is melting, and the southwest monsoon is bringing the cold air,” he said. After the southerlies, Reymundo said the Philippines will be experiencing the easterlies. This means that the wind from the Pacific will bring hot air, thereby affecting the climate. “There’s no truth that the distance of the sun to the Earth will affect because the difference in the distance is very minimal. It is actually the tilting of the Earth that causes the change of the season from summer to winter,” he said.

Declare UA in natl budget unconstitutional, SC asked By Joel R. San Juan

@jrsanjuan1573

PETITION has been filed before the Supreme Court (SC) seeking to declare as unconstitutional the unprogrammed appropriations in Republic Act 12314 or the 2026 General Appropriations Act amounting to P243.4 billion.

T he pet it ion wa s f i led by House of Representatives Senior Deputy Minority Leader Edgar R. Erice, together with Party-list Rep. Leila M. de Lima of Mamamayang Liberal (ML). Erice and de Lima also sought the issuance of a temporary restraining order, writ of preliminary injunction or a status quo ante order to immediately stop the respondents from enforcing and disbursing the unprogrammed appropriations under the 2026 GAA. Named as respondents in the petition were the Senate led by Senate President Vicente Sotto III, the House of Representatives led by Speaker Faustino Dy III, Executive Secretary Ralph Recto and Budget acting Secretary Rolando Toledo. The petitioners also asked the Court to declare null and void Section XLIII of the 2026 GAA , which authorizes unprogrammed appropriations, for being contrary to the provisions of the Constitution.

Mayon. . . Continued from A3

Local governments and communities near Mayon were earlier advised to prepare for immediate evacuation in case of a possible violent eruption. The possible hazards that can occur include rockfalls or landslides, avalanches, ballistic fragments, lava flows and lava fountaining, PDCs, moderate-sized explosions, and lahars during heavy and prolonged rainfall. Meanwhile, Phivolcs said Kanlaon Volcano remains under Alert Level 2 or increased unrest Over the past 24 hours, from 12 midnight to 12 noon on Wednesday, Phivolcs recorded two ash emission events. The first event lasted for one hour and 48 minutes, while the

Bar. . . Continued from A3

ment’s tourism and economic objectives through continuous modernization. “We are aggressively modernizing our immigration processes— expanding automated systems, upgrading facilities, and strengthening our manpower—to ensure faster, more secure, and more convenient immigration services for travelers,” Viado said. “These reforms are essential to facilitating legitimate travel for tourists and other travelers,” he added. Viado assured that the agency will continue to align its programs with the national government’s continuing efforts for digitalization and efficient public service delivery, while maintaining vigilance against transnational crimes and travelrelated abuses.

The Bureau will undoubtedly benefit from their insights and capabilities, fostering a culture

DOST. . . Continued from A4

The science chief said the agency will also strengthen partnerships with industry, particularly through research collaborations with companies seeking to engage with DOST. Further, he said that the department will continue developing what it calls ‘sovereign industries,’ particularly in disaster and climate resilience and the defense sector. Solidum cited the turnover on

Unprogrammed Appropr iations refer to appropriations that function as standby authority to be used only when specific conditions are met, such as when revenue collection exceeds targets, or when additional grants or foreign funds are generated. On January 5, 2025, President Marcos signed the 2026 GA A amounting to P6.793 trillion. As to unprogrammed appropriations, the President vetoed P92.5 billion out of the P243.4, leaving approximately P150.90 billion. “Given the magnitude of the amounts involved and the irreversible nature of public expenditures once funds are released, judicial intervention at this stage is imperative to preserve the status quo and prevent irreparable injury to the public treasury and taxpayers such as petitioners,” the petitioners said. The petitioners argued that Section XLIII on unprogrammed appropriations in 2026 GAA violates second was longer at six hours and 21 minutes. Phivolcs also recorded four volcanic earthquakes. Kanlaon, which is located at the boundary of the provinces of Negros Occidental and Negros Oriental, continues to emit sulfur. Over the past 24 hours ending at noon on Wednesday, it has emitted 854 tons of sulfur, Phivolcs said. The volcano’s edifice remains inflated, indicative of magmatic activity. Phivolcs maintains that entry into the 4-kilometer radius Permanent Danger Zone and flying any aircraft close to the volcano is highly dangerous. Among the possible hazards that can occur any day are the sudden steam-driven or phreatic eruptions and precursory magmatic activity. Jonathan L. Mayuga that embraces knowledge and encourages innovation within our legal frameworks, “we look forward to seeing the positive impacts of your contributions in the years to come,” Catapang said. Joel R. San Juan December 11 of a Philippine-made, controller-operated armament to the Philippine Army. The system enables soldiers to operate a 50-millimeter gun from within an armored vehicle, thereby reducing exposure and enhancing safety during operations. He a l so noted t h at President Marcos has identified the use of artificial intelligence as a pr ior it y as the Philippines prepares to chair the Association of Southeast Asian Nations (A sean), intending to use A I to suppor t economic g row t h across the region.

Article VII, Section 22 of the Constitution dues to absence of definite and identifiable sources of funding; violates Section VI, Section 25 (4) of the Constitution which requires appropriations to be supported by funds actually available; violates the principle of separation of powers under Article VI, Sections 24 and 25 of the Constitution; violation of Article VI, Section 29 ( 1) of the Constitution for undue delegation of legislative power; violates Article VI, Section 25 ( 2) of the Constitution for being a rider provision. “By authorizing expenditures whose funding depends on future Executive determinations, Congress abdicated its constitutional duty and committed grave abuse of discretion,” the petitioners said. According to the petitioners, unprogrammed appropriations allow the expenditure of public funds without clear and existing sources of financing, in violation of the Constitution and effectively creating a “budget within a budget.” They argued that this poses a serious threat to transparency, accountability, and the balance of powers in government. “By leaving the determination of purpose, timing, and allocation to post-enactment Executive action, the unprogrammed appropriations evade the very discipline required of appropriations and undermines transparency and accountability,” the petitioners pointed out. T hey str ucture of the unprogrammed appropriations is

Labor. . . Continued from A4

workers’ rights, and labor protection during disasters, reflects Congress’ commitment to ensuring that job recovery translates into decent work and real economic se-

LTO. . . Continued from A8

He insisted that he and his son have the right to ask for clarifications about what constitutes reckless driving. “I was asking for exactly this. But instead of showing me, he sows the entire country, goes on national television first and

constitutionally infirm because it aut hor i zes appropr i at ions without the required revenue certainty as mandated by Article VI, Section 25(4). “Appropriations cannot constitutionally rest on mere possibilities that are neither determinable nor certified as ‘actually available’ at the time Congress enacts the GAA,” it added. T he pet it ion wa s f i led even a s t he Supreme Cou r t ha s yet to resolve a sim i l a r pet it ion quest ion ing t he const it ut iona lit y of the 2025 budget, which ha s been t ag ged a s t he “most c or r u p t ” b u d ge t e n a c t e d i n Ph i l ippine h istor y. It can be recalled that the SC originally scheduled the oral arguments on the petition filed by Rodriguez and Davao City Rep. Isidro Ungab on April 1, 2025 at the SC En Banc Session Hall in Baguio City but was rescheduled on May 19. The May 19 scheduled oral argument was also reset by the SC “to a later date, subject to further notice from the Court.” The SC, however, did not explain the reason for not setting a specific date for the conduct of the oral arguments. The Rodriguez-Ungab petition argued that the 2025 GAA is unconstitutional for failing to allocate mandatory funding for Philippine Health Insurance (PhilHealth), unlawfully increasing appropriations beyond the President’s recommendations and allocating the highest budget to infrastructure over education.

curity for Filipino workers. He also underscored the need for continued vigilance against workplace abuses, stressing that employment figures alone do not tell the full story if workers continue to face unfair labor practices, unsafe working conditions, and exploitation. tells everybody else. I just think that’s a violation of due process. At least that’s what it feels like on our part. “So, we’re not contesting it. We haven’t contested it. It’s a sealed and done issue. The ticket was already paid. So, I don’t know why he’s bringing it up, if it’s only to deflect from the real issue, which is the ease of doing business,” Deakin said.

A10 Friday, January 9, 2026 • Editor: Angel R. Calso

Opinion BusinessMirror

www.news.businessmirror@gmail.com

editorial

Beyond GDP: Study says governance is critical bottleneck to PHL prosperity

HE latest study from the Philippine Institute for Development Studies (PIDS) offers an important but concerning message regarding the country’s economic goals. Although it forecasts ongoing, albeit modest, growth until 2026, the report raises a clear warning: achieving and sustaining upper-middle income status demands far more than just steady GDP numbers. The critical bottleneck lies squarely in the realm of governance and structural reforms. (Read the BusinessMirror story: Growth alone won’t lift PHL to UMIC—PIDS study, January 7, 2026). The economic landscape painted by PIDS is a familiar mix of resilience and fragility. Household spending, infrastructure push, and a robust services sector provide a foundation for projected 5 percent growth in 2025 and 5.3 percent in 2026. Improved labor force participation offers a glimmer of hope. Yet, the shadows loom large: softening investment, a persistent trade deficit exposing import dependency, a volatile peso hovering near P58-P59 to the dollar, and external threats from potential US tariffs, supply chain shifts, and geopolitical tensions. Inflation, while currently low, shows signs of creeping upward. These vulnerabilities are significant, but the PIDS report correctly identifies a deeper, more insidious threat: weak governance and stalled reforms. The assertion that “a stronger, more predictable governance environment is not merely desirable; it is indispensable” cuts to the heart of the matter. The study pulls no punches. “Delays in addressing corruption and regulatory inefficiencies could erode investor confidence and limit productivity gains,” it warns. This isn’t abstract theory; it’s the lived experience of businesses navigating bureaucratic labyrinths and the public witnessing scandals with few visible consequences. The report’s stark prescription is unequivocal: “The immediate policy priority must be to penalize corrupt officials and their accomplices swiftly, visibly, and without exception.” We cannot simply hope that economic growth, however steady, will automatically vault us over the upper-middle income threshold. Growth fueled primarily by consumption and remittances, without a foundation of strong institutions, efficient markets, and genuine accountability, is inherently fragile. It leaves us perpetually vulnerable to external shocks and internal inefficiencies. The path forward requires a fundamental shift in priorities. Firstly, governance must be prioritized as an economic policy, equating the urgency and resources of anti-corruption efforts and regulatory streamlining with those of infrastructure projects and investment promotion. High-impact prosecutions are essential for rebuilding public trust. Secondly, there is a need to accelerate structural reforms to address deep-seated issues that hinder productivity and competitiveness; this includes decisive actions on long-pending reforms in competition policy, public service efficiency, ease of doing business, and judicial effectiveness. Lastly, to navigate global risks and reduce the significant trade deficit, a focused strategy is necessary to enhance exports and develop domestic industrial capacity. The PIDS report is not merely a diagnosis; it is a call to action. The clock is ticking as we approach the upper-middle income threshold. The choice is stark: we can continue with business-as-usual, hoping incremental growth will suffice while governance weaknesses fester, inevitably undermining progress. Or, we can seize this moment to confront the hard truths, prioritize the indispensable reforms, and build the transparent, efficient, and accountable governance framework that is the true bedrock of sustainable prosperity and inclusive growth. The aspiration for upper-middle income status is within reach, but it hinges critically on our willingness to tackle the governance deficit head-on. The economy may keep growing, but without decisive reform, it risks hitting an invisible ceiling built on weak institutions. The message from PIDS is clear: fix governance, or forever fall short of our true potential. It’s time for our leaders to respond with the urgency that this crucial issue requires.

Since 2005

BusinessMirror A broader look at today’s business ✝ Ambassador Antonio L. Cabangon Chua Founder Publisher Editor in Chief Associate Editor News Editor

T. Anthony C. Cabangon Lourdes M. Fernandez Jennifer A. Ng Vittorio V. Vitug

Senior Editors

Lorenzo M. Lomibao Jr., Gerard S. Ramos Lyn B. Resurreccion, Dennis D. Estopace Angel R. Calso, Dionisio L. Pelayo

Online Editor

Ruben M. Cruz Jr.

Creative Director Chief Photographer

Eduardo A. Davad Nonilon G. Reyes

Chairman of the Board President Advertising Sales Manager Group Circulation Manager

D. Edgard A. Cabangon Benjamin V. Ramos Aldwin Maralit Tolosa Rolando M. Manangan

BusinessMirror is published daily by the Philippine Business Daily Mirror Publishing, Inc., with offices on the 3rd floor of Dominga Building III 2113 Chino Roces Avenue corner De La Rosa Street, Makati City, Philippines. Tel. Nos. (Editorial) 817-9467; 813-0725. Fax line: 813-7025. (Advertising Sales) 893-2019; 817-1351, 817-2807. (Circulation) 893-1662; 814-0134 to 36. E-mail: news.businessmirror@gmail.com

www.businessmirror.com.ph

Printed by BROWN MADONNA Press, Inc.–Sun Valley Drive KM-15, South Superhighway, Parañaque, Metro Manila MEMBER OF

Publishers Association of the Philippines Inc.

Traslacion as choreographed expression of strong devotion and bayanihan Dennis Gorecho

Kuwentong Peyups

WAS seated beside historian Xiao Chua at the Quirino grandstand while waiting for the traslacion mass last year when he showed me a copy of his PhD dissertation, “Nasaan ang Hari: Etnograpiya ng Pagsalya ng Bayan sa Traslacion ng Poong Hesus Nazareno ng Quiapo.”

“We see that our struggle for freedom mirrors the Traslacion. In our history discussions, we tend to highlight that it is chaotic, full of division, with a lot of weird characters. But if we look closer, we can actually see how much bayanihan took place, which are all steps to victory,” Chua said in an interview by a media outfit wherein he mentioned his thesis. The Traslación of the Black Nazarene is a long procession held every January 9, of each year. “Traslacion,” in Spanish means “passage” or “moving something from one place to another.” The replica that depicts Jesus en route to his crucifixion was brought to the Philippines in 1606. In 1608, the icon was enshrined at the Recollect church of San Nicolás de Tolentino in Intramuros. It was moved to the Saint John the Baptist Church (now known as the Quiapo Church) on January 9, 1787. The Traslación commemorates the said “solemn transfer.”

Chua emphasized in his dissertation the fervent, enthusiastic loyalty of faith-filled believers made up of human waves buoying one another to the andas. As a visual people with a penchant for drama and soap opera, Chua said that Traslacion has become a way for Filipinos to visually dramatize their faith. Large crowds, donned in predominantly maroon and yellow shirts, wave white towels in the air as they forcefully gather towards the carriage called “andas” that crawls through the generally narrow roads of the city. Walking barefooted during the Traslacion is a symbolic gesture that emulates Christ’s suffering as he was carrying his cross to Golgotha. Filipino Catholics are known for having sincere, enormous, and extreme expressions of piety considering that the country has the third-largest Catholic population in the world. The fervent devotion and faith

shown by devotees became a prime manifestation of the fusion of Catholic and secular beliefs and practices of Filipinos. Chua explained that it was part of a Lenten set depicting the passion of the Lord. “This image, although it was a suffering Christ who looks like us as we suffer, we all know that that was not the end. The end of the story was the resurrection, the glory of Jesus Christ. And so Filipinos held their hopes for a better life through the image of the Black Nazarene. It was like an inspiration and a visual representation of what the Lord represents for all of us, which is hope.” Chua described the Traslacion as something akin to a choreographed expression of strong devotion. “They actually want to struggle. They don’t want it to be easy because they want to replicate their everyday struggle, their everyday life there, together. Then after that they achieve a form of ‘communitas’ [heightened solidarity] and they come out feeling refreshed, more blessed,” said Chua. Millions of Filipino Catholics join the annual tradition as a display of intense piety to fulfill their “panata” or religious vows to the Black Nazarene, risking heatstroke, trampling and sometimes death. They come with personal requests, and year after year, they return with gratitude for their answered petitions. Devotees believe that walking barefoot, wiping the image with the towels, holding and pulling the

ropes of the andas, and even climbing the carriage, will get them closer to achieving their prayers. For skeptics and critics, the traslacion is a form of idolatry. However, such devotion is a wellknown example of popular piety in the Philippines and is a deeply ingrained cultural facet of Filipino Catholicism. Chua said that the traslacion is a powerful display of Filipino bayanihan (communal unity), where seemingly chaotic crowds exhibit collective effort, cooperation, and shared sacrifice to move the revered image, transforming a colonial transfer into a uniquely Filipino expression of faith and solidarity. He described the salya, the communal pushing of the carriage (andas), as a choreographed, disciplined, and orderly act, despite its intensity, showing collaboration between the Church, state, and devotees. I remember my father attending the annual Traslacion until he stopped when he was diagnosed with diabetes. It will be dangerous for him to walk barefooted like the other devotees due to the possibility of wounds. The 2012 Traslación was the longest in recorded history as it ended 22 hours after leaving the Quirino Grandstand. The Black Nazarene arrived at Plaza Miranda around 5:15 o’clock the next morning. Peyups is the moniker of the Universiity of the Philippines. Atty. Dennis R. Gorecho heads the seafarers’ division of the Sapalo Velez Bundang Bulilan law offices. For comments, e-mail info@ sapalovelez.com, or call 09088665786.

The importance of a low and stable inflation regime Dr. Geoffrey Ducanes

EAGLE WATCH

ARLIER this week, the Philippine Statistics Authority (PSA) reported the full-year overall inflation figure for 2025 at 1.7 percent. This means the prices of basic goods and services in the typical consumer basket of Filipinos rose by an average of 1.7 percent for the year compared to the previous year. For the month of December 2025 alone, year-on-year inflation was reported at 1.8 percent.

The good news is that the fullyear inflation was well below the full-year government inflation of 2 percent to 4 percent. The bad news is that the December 2025 year-on-year inflation represented an acceleration from the November 2025 year-on-year inflation of 1.5

percent. Although the December 2025 year-on-year inflation was only slightly above the full-year figure, which means it was roughly equal to the average year-on-year inflation in the other months in the year, what is more concerning is the

notable uptick in month-on-month inflation observed. One can compute inflation during the month on a year-on-year or a month-on-month basis. Year-onyear inflation only means the price comparison is being made against the same month of the previous year. Month-on-month inflation means the price comparison is being made against the immediately preceding month. In the Philippines, the inflation that is typically referred to when monthly inflation is reported is the year-on-year inflation. The advantage of using year-on-year inflation is that it already nets out seasonal factors, such as, for example, the effect of increased demand during the Christmas season, when the prices of goods normally go up. If one is to examine month-onmonth inflation, then the proper series to look at is the seasonally adjusted CPI series, which nets

out seasonal factors and makes CPI across months more comparable. The PSA also computes and releases the seasonally adjusted CPI series. Looking at the seasonally-adjusted CPI, inflation accelerated to 0.7 percent in December 2025 from essentially zero from September to November 2025 and below 0.5 percent in the other months of the year. This means overall prices hardly changed from August to November 2025, and then exhibited a notable increase in December 2025. If there was a main culprit, it would be the food and non-alcoholic beverages component of the consumer basket, which experienced a seasonally-adjusted month-onmonth inflation of 1.6 percent. Among the food and non-alcoholic beverages items, rice experienced the highest price increase. Rice prices in December 2025 were 2.8 See “Eagle Watch,” A11

www.news.businessmirror@gmail.com

Opinion BusinessMirror

Friday, January 9, 2026 A11

Maduro’s ‘perfect union’ The Silent Solipsism of Jhio Jan Navarro with China hides deep economic rupture Tito Genova Valiente

USTED Venezuelan leader Nicolas Maduro may have done more to hollow out China’s presence in his economy than Donald Trump ever could.

As the US president moves to root out rivals and adversaries like China days after toppling Maduro, lost in the aftermath is that his 12-year rule already led to an unwinding of financial ties with Beijing. The threadbare partnership that’s endured belies what Maduro described as his country’s “perfect union” with China— in comments made to President Xi Jinping’s envoy just hours before the shock capture last weekend. Although China is still Venezuela’s largest buyer of crude, with billions of dollars owed to Beijing, bilateral trade peaked the year before Maduro took power. Beijing’s loans also reached a historical high in 2012 and then tapered off, according to Tang Xiaoyang, a professor in international relations at Tsinghua University. Since then, economic ties with Venezuela have chilled as it descended into chaos while commodity prices turned lower, even as China positioned itself as a champion of the Global South and a counterweight to the US-led world order. A diminished relationship now means Beijing is unlikely to go tit for tat with Trump as the US seeks to extend its economic influence in Venezuela. Despite China’s expressions of dismay at Maduro’s downfall and the importance of keeping oil flowing from Venezuela, it will probably look to avoid the approach taken during an escalatory trade war with the US. In 2025, China’s imports from Venezuela were on pace to shrivel to just 8 percent of purchases it made 13 years ago, official data show. Its outstanding foreign direct investment in Venezuela was $318 million in 2024, less than a 10th the amount in 2018, according to an annual report by the Chinese government released in September. “It’s been almost a decade that China has begun to hedge their outstanding risk,” said Stephen Kaplan, associate professor at George Washington University’s Elliot School of International Affairs. China faces “a situation where the outstanding financial commitment in Venezuela does not involve the same kind of stakes” as did the trade war with the US, he said in answer to a question about how aggressive Beijing’s actions might be. Caracas is still on the hook to repay about $20 billion to China, including arrears accumulated in recent years, according to Kaplan, author of the book Globalizing Patient Capital: The Political Economy of Chinese Finance in the Americas. Venezuela requested a debt moratorium in 2016 and was allowed to pay down the interest and not the principal, he said. China became a key lender to Venezuela in 2007, when it first provided funds for infrastructure and oil projects under late President Hugo Chavez. Estimates suggest that Beijing lent upwards of $60 billion in oil-backed loans through state-run banks until 2015. Venezuela has suffered through decades of mismanagement that eroded the country’s oil infrastructure, sparked prolonged bouts of hyperinflation and saw millions of economic and political migrants flee for neighboring countries and the US. Oil purchases from Venezuela accounted for just 4 percent of China’s crude imports in 2025, as output fell sharply during Maduro’s regime. When asked on Wednesday about an ABC report that the White House is demanding Caracas reduce its relationships with countries including China, Foreign Ministry spokeswoman Mao Ning said “China and other countries have legitimate rights in Venezuela, which must be protected.” While China gradually retreated

from Venezuela, it continues to offer new lending to Latin American economies like Brazil and Argentina that export critical minerals or battery metals, according to a Lowy Institute analysis. “Venezuela ranks near the bottom in terms of China’s current economic connection with Latin American countries,” said Tsinghua’s Tang, who’s headed several research projects commissioned by China’s Ministry of Foreign Affairs. Getting an accurate read on Beijing’s remaining financial involvement in Venezuela is a challenge. China’s official sector creditors have made loan commitments worth $106 billion to Venezuela, and its total outstanding public and publicly guaranteed debt to them stood at about $44.5 billion in 2017, according to numbers compiled by AidData, a university research lab at William & Mary in Virginia. But more recent figures have been difficult to track given Caracas stopped publishing detailed information about such liabilities after its sovereign default in 2017, said Brad Parks, executive director of AidData. “The bottom line is that no one knows—with a high level of certainty—how much Venezuela currently owes to its Chinese creditors,” he said. “There may very be a significant amount of additional, unreported public debt exposure to China.” Venezuela has been servicing debts to China using cash raised from oil exports to the Asian nation, with buyers paying for contracted shipments by depositing money into the accounts of state-owned lenders like China Development Bank, according to US and Chinese scholars.

Oil industry

HOWEVER, a US naval blockade and Venezuela’s falling oil output contributed to a disruption in repayments, according to Tang. Chinese companies have a small footprint in Venezuela, he said, with oil firms taking a limited role due to the nationalization of assets as well as operational difficulties. State-owned firms led by China National Petroleum Corp. raised concerns this week with the Chinese government and sought advice from officials, in an effort to align their responses with Beijing’s diplomatic strategy and to protect their investments, Bloomberg reported Thursday. CNPC still has staff on the ground to manage operations including its joint venture with Venezuelan state firm PDVSA. But Tang said the Chinese oil producer significantly curtailed involvement in local production after 2014 due to aging fields and years of inadequate maintenance. The authorities in Beijing appear to still be assessing the scale of China’s financial ties with Venezuela. The national financial regulatory body asked policy banks and other major lenders to report their exposure to the country and urged them to strengthen risk monitoring of all Venezuela-related credit. Apart from oil, Chinese firms in sectors such as utilities, construction and telecommunications also operated in Venezuela, although many of them have more recently pulled out of the country. More than half of the 48 Chinese companies registered in Venezuela had no active operations. Many of them provided services or one-off sales to the Venezuelan government, according to a study by Benedicte Bull and Antulio Rosales, professors based in Oslo and Toronto. Whether China can recover the money it lent depends on the US plan for Venezuela, said Tang. It’s still “very unclear what the US will do next.” With assistance from Philip Glamann/Bloomberg

ANNOTATIONS

OW does one inspect death? Who has the temerity to investigate eternity? Only someone perhaps with a taste for the morbid, and yet this is not the case with this poet. Jhio Jan Navarro shares with us a near gleeful curiosity as he describes his sleep as “tuwing kinakatok ang aking antok”—the slumber disturbed with persistent knocking, here is where he initiates his existential investigation: whereupon he places inside the glass vessel as it seems this lizard-like thing, slowly crawling up to where a moth stays unknowing. We know that in that darkness, something will get pressed—vanished—and for this poet “tanging ang alumpihit na buntot/ang sa palad ko ay naiwan.” (Only the restless, wiggling broken tail of the lizard is left pressed in one’s fingers). Death so puny and soft in our hand.

How deep does this poet plumb the depth of sadness? Endless but not sentimental. There is a near sacramental air to his poetry of “Langit ng Salagubang:”—Beetle’s Heaven: “Matapos ipitin at itali ang pakpak upang (After squeezing and stitching paglaruan hanggang di na makakilos, makalipad (to be played upon until it cannot move anymore, nor fly), saan napupunta ang kaluluwa ng mga salagubang? (where do the souls of the beetles go?). The rumination does not end in the question; the utilitarian raises the point: Matapos alogin at mahulog mula sa mga sanga’t dahoh (shaken and having fallen from the twigs and leaves of mango to be sautéed for viand) may langit ba silang madaratnan (will there be a heaven to welcome them? Interesting how bathos is at the end of all this: first, there is the downward motion of insects falling on the ground; second is the reckless act of a child mistaking the beetle for a cockroach.) Such perfidy! The poet seems to scream: “Ang ipis? Hayaan na ang ipis sa

sulok at siwang” (The cockroach? Let them stay in corners and crevices). This poem after all is about the heaven for the beetles. The poems of Jhio Jan Navarro is part of a chapbook bearing the title “Pagaspas ng Mga Munting Pakpak,” deceptive in its stillness and solace. There is a quietude that is seemingly inherent in the language of the poet, a rhythm that is closer to the ground, of a writing that is meant to address an act. Behold his opening “Pagaspas ng Mga Munting Pakpak” (Rustling of the Small Wings): Lagi kong inaabangan (Always I long to see the fireflies dance) sa pagi-pagitan ng mga dahon at sanga (among the berries and mangoes). And yet there in that light is the gathering darkness that overwhelms. Nothing is hidden when midnight falls, “marami ang nalalagutan ng hininga.” Here, I propose the weakness of language—shall we opt for retaining the unforgiving phrase “nalagutan ng hininga? Feel the violation and violence. Or settle for the metaphor—the breathy, breathless, the exasperation, even hope, or

fear, or anticipation of lesser incandescence? Where does this poetry lead us to? To what antecedent can we refer this writing? What is it about Jhio Jan Navarro that he is able to summon us—convicted and convinced— that “walang pagpapatiwakal./Sadyang naipit lamang ang gamugamo/sa gîtna ng lagablab at anino (there was no suicide./It was merely the moth/ wedged and pressed between flame and shadow. Is there ever a promise of subversion here? Shall poetry remain on the realm of romance? Will it echo what the great Latin-American poet Sor Juana Ines de la Cruz lament “Love opened a mortal wound./In agony I worked the blade.” There is a second part to the collection of Navarro and this is bannered by the title “Anak ng Nayon.” Directly ideological, here the poet takes us to his provenance. Marvel not at the memory but the true motion of “bahagyang nahahawi (slowly drawn aside)/ang hanay ng mga tubo/ (the rows of sugarcanes)/“sa ating

likuran”(behind our back). He continues: “sa ating pisngi ang talas/ng halik ng dahon./Lumihis tayo sa daan(on our cheek is sharp/the kiss of the leaf./We turn away from the road. From this point on, the poet persists: “at isinuot ang ating mga tsinelas/sa ating siko./Walang nakakaalam”(and we let our slippers cling to our elbows. No one will ever know). Only someone with a minted childhood could go back to the middle of this field where only they would know when the master—the landlord, the “Cabo,” the Oversee—shall be around. In the meantime, “walang sasaway sa atin dito (no one will stop us),/Magbabalat tayo gamit/We will strip the cane/with our mouth/at hahahayaan nating pumatak (and allow to drip/ang mga ligaw na katas (all the wayward juice/sa mababaw na sugat (on to the shallow wound) sa ating balat (of our skin.) In the end, for the poet, for better or bad, there is always “ang daan palabas.” E-mail: titovaliente@yahoo.com

Trump expands US climate retreat with exits from UN bodies By David Stringer & Jennifer A. Dlouhy

quitting institutions considered “to be redundant in their scope, mismanaged, unnecessary, wasteful, poorly run,” and advancing agendas contrary to those of the US, Secretary of State Marco Rubio said in a statement. Exiting the UNFCCC would formally withdraw the US from the UN institution that rallies nations to set increasingly ambitious targets on emissions reductions, and coordinates the annual global COP summits to advance action on areas like decarbonization and climate finance. US officials were absent from the most recent talks in Brazil last year. “It’s a gift to China and a get-outof-jail-free card to countries and polluters who want to avoid responsibil-

ity,” said John Kerry, a former US secretary of state who also served as the country’s top climate diplomat under President Joe Biden. “It’s another self-inflicted wound on the world stage.” By exiting the UNFCCC, any future administration would likely face a more complex task to rejoin those efforts. In 2021, Biden moved to reenter the Paris pact immediately after his inauguration. However, a return to UNFCCC could be more challenging. Climate skeptics who encouraged Trump to quit the UNFCCC have argued that once the US withdraws from the treaty, any bid to reenter would have to be accompanied by a fresh Senate vote, which would require a two-thirds supermajority. Some legal experts have said, though, that a future president could simply re-accede to the accord without Senate approval. In leaving the IPCC, the US “will no longer be able to help guide the scientific assessments that governments around the world rely on,” though individual scientists may

still be able to contribute, said Delta Merner, associate director for the climate accountability campaign at the Union of Concerned Scientists. The IPCC, established by the UN and World Meteorological Organization in 1998, is regarded as the crucial global authority on humankind’s contribution to planetary warming and has produced six flagship assessments that shape climate policymaking. It has traditionally relied heavily on US funding and expertise. US involvement in the next major assessment, due in 2029, was already in question, amid mass firings and program closures at some of the country’s leading federal weather and climate agencies. Some experts were prevented from participating last year in a preparatory meeting in China. “Walking away doesn’t make the science disappear,” Merner said in a statement. “It only leaves people across the US, policymakers, and businesses flying in the dark at the very moment when credible climate information is most urgently needed.” Bloomberg

clined slightly. In Malaysia, 2025 inflation was estimated at about 1.3 percent to 1.4 percent. Indonesia and Vietnam were reported to have higher inflation than us in 2025 at 2.9 percent and 3.3 percent, respectively. Why is it important to have low and stable inflation? For one, low inflation helps preserve the purchasing power of households. Low inflation helps people in their financial planning. It allows them to make more intelligent consumption and savings decisions, such as predicting with more confidence the prices of goods (e.g. appliances, car, house) and services (e.g. education, vacation) that they plan to purchase in the future, knowing that the purchasing power of their savings will not be rapidly eroded by price increases.

Because year-on-year inflation was 1.7 percent, this means that people who were able to make financial investments that earned 1.7 percent in 2025 maintained the purchasing power of those investments. If they earned more than 1.7 percent, that means they experienced an increase in purchasing power of those investments. For example, people who invested in Philippine treasury bills, admittedly not something that is easily available to many Filipinos, earned upwards of 4 percent on their savings in 2025. Another reason why low and stable inflation is important is because it gives the Bangko Sentral ng Pilipinas (BSP) a wider monetary policy berth, such as cutting its policy rate to stimulate economic activity. A lower BSP policy rate would typi-

cally lead to lower lending rates by commercial banks. This would encourage higher borrowing by firms for investments and households for consumption. Low and stable inflation also helps firms more accurately predict future price levels, making it easier for them to plan capital expenditures and workforce expansion. This lowers the returns on investment they require and contributes to increased capital stock. These and other advantages of a low and stable inflation regime highlight the importance of keeping inflation within the government target as well moving forward.

S President Donald Trump extended his country’s retreat from global cooperation on climate action by announcing the nation would withdraw from flagship international organizations, including the main United Nations and scientific bodies focused on the issue. The Intergovernmental Panel on Climate Change and the UN Framework Convention on Climate Change are among a total of 66 groups the US will exit. The moves are seen as likely to diminish both the US role in addressing greenhouse gas emissions and the global influence of those entities. Trump’s actions are in line with his domestic policy changes aimed at removing curbs on pollution and fossil fuels, and follow a decision in January 2025 to begin a year-long process to quit the Paris Agreement, the binding 2015 accord to combat global warming. He made a similar decision during his first term in office. The Trump administration is

Eagle Watch. . . continued from A10

percent higher (non-seasonally adjusted) compared to November 2025, which was the highest monthon-month increase in rice prices since December 2023. There is no need to overstate the case, however. The full-year 2025 inflation is still the lowest since 2016. Even the December 2025 year-on-year inflation was lower than any monthly year-on-year inflation observed from June 2020 to February 2025. In our part of the world, in general, inflation was relatively tame in the previous year. In Thailand, inf lation was estimated to be negative at -0.14 percent in 2025, meaning overall prices even de-

Dr. Geoffrey Ducanes is Associate Professor at the Ateneo de Manila University and the Director of the Ateneo Center for Economic Research and Development.

2nd Front Page BusinessMirror

A12 Friday, January 9, 2026

DA: 817 FARM-TO-MARKET ROAD PROJECTS ARE STILL PENDING By Ada Pelonia & Samuel P. Medenilla

HE government completed only 67 percent of the 4,810 farm-to-market road (FMR) projects from 2021 to 2025, according to the Department of Agriculture (DA). Preliminary figures from the agency’s FMR watch platform, which is currently in its beta stage, showed that 3,135 projects under the Department of Public Works and Highways (DPWH) were completed within the five-year period. Of this, at least 817 FMR projects have been tagged as pending, while 34 projects are considered deferred. The website also indicated that at least 677 projects over the period of 2021 to 2025 remain ongoing. Within the five-year span, the DA allocated around P76.52 billion for the construction of 4,810 FMR projects, with Central Luzon receiving the lion’s share of the funding at P9 billion. For 2026, agriculture officials said the P33 billion budget earmarked for FMRs under the 2026 General Appropriations Act (GAA) could build 1,600 projects. The funding for each project could go as low as P12 million per kilometer for a 5-meterwide road, and even lower for a 3-meter-wide road, according to the DA. This was smaller than the previous P15 million per km benchmark of the DPWH. Total projects in the five-year period were equivalent to some 2,400 kilometers of roads built, which the DA estimates helped 721,500 farmers. The FMRs also saved the farm sector some 7,800 hours of transportation time and transported 240,000 metric tons of agricultural products. The website, dubbed the “FMR watch” and

developed by the Bureau of Agricultural and Fisheries Engineering (BAFE), will be launched in February. As such, the DA is still updating the database. The FMR watch will feature real-time project monitoring and detailed financial information and budget, encompassing the entire bidding process, which will be livestreamed for transparency purposes. The interactive platform also shows geotagged photos of each project, urging the public to monitor the progress and provide feedback as part of efforts to tighten oversight. According to the agency, the DA will acknowledge the public’s concerns within 24 hours. The DA will assume the development and implementation of FMR projects this year following the controversial infrastructure projects by the DPWH.

Cost

FOLLOWING extensive consultations with construction firms, the DA said it was able to reduce the cost of FMRs to P14.5 million per kilometer (km). Agriculture Secretary Francisco P. Tiu Laurel Jr. said the costing already includes value added tax (VAT) as well as the cost for the needed canal for such public works. He said this was significantly lower compared to the previous costing for FMRs from the previous administration of the Department of Public Works and Highways (DPWH), which priced the said public works to P18 million per km. Last September, the DA chief ordered an audit of FMRs, which were previously managed by DPWH, after it was revealed that the agency was involved in overpriced, substandard, or non-existent flood control projects. See “Projects,” A2

www.businessmirror.com.ph

‘Change in LGU leadership delays green lane projects’

By Andrea E. San Juan @andreasanjuan

EARLY three years into the implementation of the Green Lane initiative, only 16 projects have started operations out of the 232 that were certified primarily due to leadership changes in local government units (LGUs) and issues related to land conversion, according to the Board of Investments (BOI). Asked why there are only 16 operational projects so far, Ernesto C. Delos Reyes Jr., the BOI’s Director for Investment Assistance Service, told the BusinessMirror in a Viber message: “Mostly due to the pending LGUs Letter of No Objections or Clearances...and some problem with land conversion.” “The leadership changes after the elections had a big impact [on the projects],” Delos Reyes told this newspaper. “What’s important is

that we’re now seeing more projects in the construction stage.” In a statement, the Board of Investments (BOI) said there are 16 operational projects worth P257.98 billion out of the 232 projects costing P6.11 trillion certified under the Green Lane initiative, which aims to fast-track processing of permits and licenses for “high-impact” strategic investments. Data provided by the investment promotion agency attached to the

Department of Trade and Industry (DTI) showed that out of the 16 operational projects, 7 are Food Security projects; 4 are Renewable Energy projects; and 3 are Digital Infrastructure projects. Meanwhile one is in Manufacturing and another project is under the PPP, Infrastructure and Water sector category. This, the BOI reported, almost three years after the implementation of the Green lane initiative under Executive Order No. 18 (EO 18), or the measure that mandates the fast-tracking of the processing of permits and licenses for “highimpact” strategic investments. This EO was issued by the Office of the President on February 23, 2023 with the goal of making the country more competitive in attracting foreign direct investments. “The Green Lane initiative, established under EO 18, aims to realize investors’ projects in the soonest possible time, while increasing trust and confidence in government processes through streamlined, transparent, and coordinated action across agencies,” the BOI explained further. The BOI, through the One-Stop

Action Center for Strategic Investments (BOI-OSAC), pointed out however that the project pipeline for green lanes is “heavily concentrated” in the pre-development stage, with 163 projects. In the pre-development stage or the first stage, 152 are Renewable Energy projects, 2 are Digital Infrastructure; 4 are Food security; 3 are under the PPP, Infrastructure and Water sector category. The BOI said the project pipeline in the pre-development stage reflects “strong investor interest and a robust pipeline of strategic projects expected to materialize in the coming years.” Meanwhile, the BOI said there are 47 projects currently under construction. Of these projects, 21 are under the Renewable Energy sector; 19 are projects related to Food security; 4 are Digital Infrastructure projects, and 3 are under the Manufacturing sector. The investment promotion agency said there are only 6 projects under the pre-operation stage. “These projects are primarily from Renewable Energy, Manufacturing, and PPP, Infrastructure, See “LGU,” A2

Govt set to conduct tender for renewable energy contracts By Lenie Lectura

FISHING FOR PROFITS The Bureau of Fisheries and Aquatic Resources (BFAR) harvests large African catfish at the National Inland Fisheries Technology Center (NIFTC) in Tanay, Rizal, on Thursday, January 8, 2026. Launched last year to support farmers and fisherfolk, the program promotes aquaponics—a sustainable system that combines aquaculture with hydroponics, using nutrient-rich water from fish tanks to nourish plants—offering innovative livelihood opportunities and boosting local food production. NONOY LACZA

‘Weak’ holiday hiring worries local labor groups By Justine Xyrah Garcia

EVERAL labor groups on Thursday expressed concern over what they described as weak employment figures during a period that typically sees seasonal hiring ahead of the Christmas holidays. Preliminary results of the November 2025 Labor Force Survey (LFS) showed 2.25 jobless Filipinos, up from 1.66 million a year earlier, bringing the unemployment rate to 4.4 percent from 3.2 percent in November 2024 (Related: https://businessmirror.com.ph/2026/01/07/2-25m-pinoysjobless-in-november-psa/). On a month-on-month basis, unemployment eased from 2.54 million or 5 percent in October, while total employment added around

640,000 jobs during the same period. Sentro ng mga Nagkakaisa at Progresibong Manggagawa (Sentro), however, said the figures suggest that holiday demand did not translate into stronger hiring. “This outcome is particularly alarming because it comes at the start of the Christmas season, when stronger consumer demand should normally translate into more hiring. If jobs are weak during Christmas, the economy is clearly underperforming,” Sentro said in a statement. The group also flagged a deterioration in job quality, citing continued manufacturing losses, a decline in wage and salary employment, and an increase in self-employment and unpaid family work—forms of work that offer lower stability and earnings.

“We are not just creating fewer jobs—we are creating worse jobs. This trend signals rising vulnerability and informality in the labor market, rather than the expansion of stable, productive employment,” Sentro said. In a separate statement, the Federation of Free Workers (FFW) said government must “rethink” how it supports job creation, urging agricultural modernization and industrial value-chain development to stimulate demand for labor. “FFW suggest that the government must stop doing the same thing and expecting a different result: prioritize and modernize agriculture, and deliberately dovetail it to industrialization through strong value chains,” it said. The group also reiterated its call for sub-

stantial wage hikes and measures to reduce the cost of living, arguing that stronger purchasing power could help support domestic demand and employment. On Wednesday evening, the Department of Labor and Employment said that the current jobless rate remained within the government’s 4.8 to 5.1 percent target range. “The month-on-month decrease in the unemployment figures indicates the recovery and the normalization of economic activities toward the end of the year, particularly as businesses ramp up operations in anticipation of the holiday season and year-end demand, and more people wanting short-term work engagements,” DOLE Secretary Bienvenido E. Laguesma added.

@llectura

HE Department of Energy (DOE) announced Thursday it will auction off renewable energy (RE) projects with a combined capacity of 105.4 megawatts (MW) under the fifth Open and Competitive Selection Process (OCSP5). The agency has long adopted the OCSP as a mode for the selection and award of RE contracts particularly for identified pre-determined areas (PDas) through a bidding process. PDAs refer to locations with potential RE resources, as supported by sufficient technical data, and are suitable for further development. In a notice, the DOE said the PDAs available for offer under OCSP5 are seven hydro power projects, two geothermal projects, and two wind energy resources. The 37.4-MW hydro power prospects are the following: 8.50-MW Amtuagan, 8.3-MW Pacu-an, and the 6-MW Pinacanuan River, 3-MW Bacolan, 2-MW Guiamon San Ramon, and two segments of the Guinoba-an plant totaling 9.60-MW. There are two geothermal prospects with a total capacity of 68 MW. These are the 48-MW Mt. Natib and the 25-MW Southern Leyte geothermal project. For the wind energy resources, the DOE has yet to determine the capacities of the Cabusao and San Isidro wind power projects. “In line with the government’s commitment to promote sustainable

BIR…

Continued from A1

revenue taxes,” Mendoza said. This, he added, would ease the compliance burden on taxpayers and limit the number of BIR offices authorized to issue LOAs. The planned overhaul comes amid allegations of corruption within the

energy development, the DOE has identified hydropower, geothermal, and wind energy resources that possess sufficient technical data and are deemed for promotion and further development,” it said. The DOE said local and foreign developers are eligible to participate in the process, provided they meet the technical and financial requirements to undertake the developments.

Report submission

MEANWHILE, the Energy Regulatory Commission (ERC) said Thursday only 21 of the 123 distribution utilities (DUs) nationwide have submitted their annual demand and supply assessment report for 2026. In an advisory, the agency said that as of January 7, the overall compliance rate of DUs across Luzon, Visayas, and Mindanao in the submission of the report stands at only 21.14 percent. Broken down, 18 percent (or 10 out of 56 DUs) for Luzon, 24 percent for Visayas (7 out of 29), and 24 percent for Mindanao (nine of out 38). The report is due for submission every 15th of December each year, pursuant to ERC resolution no. 13 entitled “A Resolution Adopting the Omnibus Rules for Customer Choice Programs in the Retail Market.” “All DUs are reminded of their compliance responsibilities under ERC rules and regulations and are encouraged to strictly comply with the prescribed reportorial requirements, as submission thereof forms part of the assessment for franchise renewal,” the ERC said.

agency, after claims that some officials have been using LOAs as a moneymaking scheme to extort businesses. An LOA is the BIR’s primary legal document that authorizes revenue officers to examine a taxpayer’s books and records. The BIR has temporarily suspended all field audits and other related operations, including the issuance of LOAs and Mission Orders (MOs). Reine Juvierre S. Alberto

Companies BusinessMirror

Editor: Jennifer A. Ng

Friday, January 9, 2026

Petron recognizes penalty for failure to report outage

By Lenie Lectura

@llectura

ETRON Corp. announced last Thursday it recognized the penalty imposed by the Energy Regulatory Commission (ERC) for the firm’s failure to report a 2019 unplanned power outage in its refinery facility. The country’s lone oil refiner reported having received last Wednesday an order from the ERC dated December 26, 2025 imposing a P650,000 penalty for the non-

submission of reports on the unplanned outage and the resumption of operations of its refinery solid fuel-fired boiler plant resulting from the 6.1 magnitude earthquake

in Bataan on April 22, 2019. The ERC rules require a generating facility to report to the regulator within three hours of any unplanned outage and resumption of operations of a power-generating facility. “The inability of the company to comply with the requirements of the ERC was due to the situation caused by the earthquake that required the company to focus on implementing safety measures and protocols at the Petron Bataan refinery. The company will pay the above-described penalties,” according to Petron. At-end September last year, Petron posted P9.7 billion in net in-

come up 37 percent from the same period in 2024. Petron achieved robust sales, reporting a combined sales volume of 84.7 million barrels for the Philippines and Malaysia, a three-percent increase from 2024’s 82.6 million barrels. This growth was largely driven by the 11 percent improvement in Philippine retail sales as Petron continued to corner the bigger share of the market. The growth in domestic volumes, together with higher productivity at Petron’s refineries in Limay, Bataan and Port Dickson, Malaysia, helped minimize the impact of weak regional refining cracks, which dropped 11 percent in the first nine months.

SEC OKs Lueco’s direct public offer T HE Securities and Exchange Commission (SEC) a nnounced of having approved the direct public offering of the La Union Electric Co. Inc. (Lueco). Lueco becomes the second issuer to successfully register under the streamlined guidelines on the regulator’s “Securing and Expanding Capital for PowerGen Operators and Wholesale Electricity and Retail Services.” In its en banc meting, the SEC approved the registration statement of Lueco covering 2.35 million shares, subject to the company’s compliance with certain remaining requirements. Lueco will offer to the public up to 352,950 common shares priced at P772 apiece. The company expects to net around P251.4 million from the offer, which will be used to fund capital expenditures, finance businessrelated expansion, and upgrade the company’s facilities and equipment. The offer will run from January 12 to 16, with the shares to be issued not later than February 6, based on the latest timetable submitted to the SEC. The offering is being made in

HE Federation of Free Workers (FFW) has asked the Department of Labor and Employment (DOLE) and the Clark Development Corp. (CDC) to investigate the abrupt retrenchment of 477 workers of garment maker Charter Link Clark Inc. In a statement FFW issued last Thursday, the labor group questioned the timing and manner of the pre-Christmas displacement involving the locator in the Clark Freeport Zone (CFZ). The organization added that the closure was announced without prior consultation with the certified bargaining agent. According to the FFW, the circumstances may entitle affected workers to reinstatement should authorities find that the shutdown was not bona fide. FFW Women’s Network Vice President Arta Maines said the sequence of events “negates good faith and strengthens the workers’ right to reinstatement with full backwages, or at the very least, full separation pay strictly in accordance with the parties’ agreement of one (1) month pay per year of service.”

SEC flags entities selling CFDs in PHL By VG Cabuag @villygc

HE Secur it ies a nd Exchange Commission (SEC) has war ned the public against engaging with Exness Global Ltd or Exness Global Trading App and HF Markets for their illegal solicitation of investments from the public. Both Exness Global and HFM have been found to be operating platforms that allow their users to invest and trade unregistered investment products without registration as corporations in the Philippines In a separate advisory, the SEC said Exness Global operates a trading platform that provides users access to financial markets like forex, crypto, stock and commodities, primarily through contracts for difference (CFD). HF Markets, meanwhile, describe itself as being a trading platform where the public can CFD on forex, commodities, bonds, metals, energies, shares, indices, among others. According to its website, the entity aims to empower traders by offering a seamless trading experience that combines innovation with excellence. Known for their cutting-edge technology, wideranging education and impeccable trading conditions, it claims to deliver multi-asset solutions at the higher standards. A CFD is a financial deriva-

tive that lets traders speculate on short-term price movements without owning the underlying asset. CFDs can be used to trade a variety of assets, including stock indices, exchange traded funds and commodity futures, through a network of brokers. The CFD market’s lack of regulation, however, means investors rely heavily on the credibility and reputation of their brokers “In view thereof, the public is hereby advised to exercise caution before investing in these kinds of unregistered online investment platforms and their representative,” the SEC said. The SEC said that while it appears that the operator of the platform is a registered broker in different jurisdiction, in the Philippines, before securities and investment products can be sold or offered to the public, the Securities Regulation Code requires the securities being offered are registered with agency. This involves filing an application for registration and providing detailed information about the securities, including the issuance price, the use of the proceeds, and the nature of the securities. T he securities must be issued by a corporation or licensed dealer, both of which should be registered in the Philippines and the issuer possesses a secondary license to sell or offer securities to the public.

PLDT sees leading PHL foray in AI landscape

BUSINESSMIRROR FILE PHOTO

compliance with the Electric Power Industry Reform law (Republic Act 9136), which states that generation companies shall offer and sell to the public a portion not less than 15 percent of their common shares of

‘Probe retrenchment by locator’ By Justine Xyrah Garcia

Maines also questioned the rationale for holding a job fair immediately after the retrenchment “You cannot fire workers one day and pretend to be their savior the next. Job fairs do not legalize illegal retrenchment,” she added. On the same day, the DOLE said it will hold a “special job fair” on January 9 at the CFZ to help affected Charter LIink workers secure new placements. The event will offer more than 2,900 vacancies from 20 employers. For its part, FFW said it is prepared to elevate the matter to international labor mechanisms if domestic processes fail. FFW President Jose G. Matula said the case may be raised before the International Labour Organization (ILO) and relevant United Nations (UN) platforms, citing alleged violations of freedom of association and corporate responsibility standards. “Economic zones must not become labor-rights-free zones. We will pursue accountability— loca l ly and inter nationa l ly— until workers’ rights, benefits, and dignity are fully respected,” Matula said.

to the public. The company tapped Penta Capital and Investment Corp. as the sole underwriter for the offer. Lueco’s franchise area covers the City of San Fernando and municipalities of Bauang and San Juan in La

Union. Its distribution system consists of two substations: the Bauang Substation and the Poro Substation, with a rated capacity of 20 megavolt amperes (MVA) and 67.5 MVA, respectively, as of end-2024. VG Cabuag

DOLE echo deadline for 13th-mo reports

HE regional and field offices of the Department of Labor and Employment (DOLE) have begun reminding private employers to submit their 13th-month pay compliance reports ahead of the nationwide January 15 deadline. In Soccsksargen, DOLE Region XII prodded firms to lodge their reports through the agency’s online compliance portal (reports. dole.gov.ph) as part of its postholiday monitoring. DOLE XII Officer-in-Charge Director Raymond Fel F. Sajor said the requirement is mandatory for all private establishments nationwide under Presidential Decree 851. The 13th-month benefit, computed as one-twelfth of a worker’s annual basic pay, covers rank-andfile employees who rendered at least one month of service during the year. Employers are required to release the payout no later than December 24, while the reporting period that follows allows the department to validate compliance

with the mandatory benefit. In Central Luzon, DOLE Pampanga’s field office issued a similar reminder, calling on establishments to submit their reports through the same portal and seek assistance from regional or provincial labor offices when needed. “This mandatory submission promotes transparency and compliance with labor laws. All private sector employers, regardless of size or number of employees, must submit,” it added. Workers and employers with concerns on 13th-month pay, meanwhile, may also seek help through the department’s Assistance for Request Management System (ARMS). Under the law, non-payment of the 13th monthpay may result in administrative penalties and even the suspension or cancellation of business permits. Labor Secretary Bienvenido E. Laguesma earlier noted that the agency has not recorded any employer violating the mandate since he assumed office. Justine Xyrah Garcia

HE PLDT Inc. announced last Thursday it is gearing up to lead the country’s participation in the global artificial intelligence (AI) landscape this year. PLDT Senior Vice President and Head of Enterprise Business Group Blums S. Pineda, who is also leading the PLDT Group AI Business, said the phone giant is reinforcing its focus on building AI capabilities that empower businesses and communities. According to Pineda, PLDT Enterprise is developing a range of AI use cases for industries such as banking, finance services and insurance, business process outsourcing, healthcare, government and utilities. These use cases aim to optimize processes, increase productivity, and ultimately enhance customer experience. “With our AI-ready ecosystem, and our investments in our infrastructure and in our people, the PLDT Group is ready to help more Filipino communities, businesses and enterprises embrace and harness the benefits of AI to boost productivity, competitiveness and innovation,” Pineda said. The company’s significant investments in AI infrastructure include the country’s largest integrated fixed and wireless networks, and VITRO Sta Rosa (VSR), the country’s first hyperscale data center built specifically for AI workloads, which was inaugurated by President Ferdinand R. Marcos Jr and PLDT Chairman Manuel V. Pangilinan last year. Located in Laguna’s fast-growing tech corridor, VSR is developed by VITRO Inc., PLDT group’s data center arm. VSR also hosts Pilipinas AI, the country’s first sovereign AI solutions stack, which aims to enable

Philippine enterprises to tap into AI’s full potential without the burden of building or managing their own infrastructure. As a homegrown solution, Pilipinas AI also ensures that data and workloads remain locally hosted, enabling both private and public sectors to access world-class AI capabilities while keeping their data and workloads securely hosted within Philippine borders. For its mobile phone unit, Sm a r t Com mu n ic at ion s, I nc (Smart), PLDT is also stepping up to continue leading the country’s multi-sectoral thrust into unlocking the potential of AI in enabling efficiencies in government, schools and universities, non-government organizations (NGOs), micro, medium and small enter pr ises (MSMEs), med i a groups, and other communitybased organizations. “We are not just introducing communities to AI. We are leading the way in championing its responsible and meaningful use,” said Stephanie V. Orlino, Assistant Vice President and Head of Stakeholder Engagement at PLDT and Smart. In 2025, PLDT and Smart launched “AI-in-a-Box”, its digital empowerment initiative that brings AI closer to communities by equipping them with the tools, connectivity, training, and support they need to thrive in an AIdriven world. Among those who were reached by this program include local government workers in the Bicol Region and Balanga in Bataan. PLDT and Smart have also integrated AI upskilling in their education, livelihood and inclusion programs, reaching students, teachers, universities, MSMEs and business owners from Baguio to the Bangsamoro Autonomous Region in Muslim Mindanao. Lenie Lectura

Friday, January 9, 2026

Companies BusinessMirror

MWell moves to ‘narrow’ health gap via public sector By VG Cabuag @villygc

HE Metro Pacific Health Tech Corp. (DBA mWell PH) is targeting public sector support as it seeks to foray into rural communities in the country. According to the company, the health gap is characterized by the density of doctors with urban centers averaging one doctor for every 33,000 people and rural communities relying on a single doctor for up to 100,000 residents. These gaps, the company said, showed that digital healthcare can connect families with the needed attention from doctors, especially in remote and island communities. According to mWell PH, more than 3,700 doctors across over 48 specializations are accessible through its ecosystem.

“Families in faraway communities have waited too long for easy access to care,” said Manuel V. Pangilinan, chairman of mWell and parent firm, the delisted Metro Pacific Investments Corp. (MPIC). “With our partners, we’re building pathways that make healthcare more accessible and affordable for every Filipino. We’ll continue working to bridge the gap between our people and the care they deserve,” Pangilinan added. mWell PH President and CEO Chaye Cabal-Revilla said the company’s mission “is shaped by the stories of the people they meet.” “When we visit these areas, we see how distance affects every step of a family’s healing journey. That is why inclusion matters. Our goal is to make healthcare steady, connected and compassionate, no matter where you live,” added Revilla, who is also

the chief finance, risk and sustainability officer of MPIC. According to her, this mission is reflected in mWell’s work with national agencies and community groups. “Through the ‘BangkaHealth’ program, small boats carrying mWell ‘OnTheGo Clinic-In-A-Bag’ units and satellite internet now reach island barangays in Sulu and Tawi-Tawi, allowing families to receive care within their communities. Similar efforts in Mararison Island, Zamboanga’s Pink Island, and Talim Island offer the same lifeline to households once far from medical help.” According to the company, it supported the government’s “Digital Bayanihan Caravan” in the Mimaropa region. An initiative of the Department of Information and Communications Technology, the

MUTUAL FUNDS

project provides digital tools and health access to communities once considered too remote. Through this initiative, 216 computer tablets with the mWell app were given to barangay health centers to assist health workers in delivering basic care, according to the company. Digital literacy sessions help families feel confident using online consultations and wellness tools, it added. Alongside these initiatives, mWell showcased Southeast Asia’s first medical “OnTheGo” drone delivery service with the DICT, “demonstrating how technology can overcome physical barriers to healthcare. “ In Rizal, drones now carry medical supplies and doctor-recommended essentials to isolated sitios, reducing travel time and giving families faster access to what they need, according to the company. January 8, 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. -A221.61 0.42% 1.35% -0.45% -0.66% 3.18% ATRAM ALPHA OPPORTUNITY FUND, INC. -A 2.2355 19.21% 16.95% 11.04% 7.3% 3.81% ATRAM PHILIPPINE EQUITY OPPORTUNITY FUND, INC. -A 2.9539 -1.61% -0.3% -1.15% -1.64%3.25% CLIMBS SHARE CAPITAL EQUITY INVESTMENT FUND CORP. -A 0.7744 4.95% 3.49% -0.64% N.A2.77% FIRST METRO CONSUMER FUND, INC. -A 0.5799 -8.32% -5.23% -4.83% N.A 4.56% FIRST METRO SAVE AND LEARN EQUITY FUND, INC. -A 4.5283 -3.02% -1.77% -1.71% -1.08% 3.32% FIRST METRO SAVE AND LEARN PHILIPPINE INDEX FUND, INC. -A 0.6667 -4.04% -2.6% -2.49% N.A3.64% MBG EQUITY INVESTMENT FUND, INC. -A 89.79 26.82% 5.8% -2.28% N.A 1.3% PAMI EQUITY INDEX FUND, INC. -A 43.0192 -1.83% -1.11% -1.63% -0.38% 3.78% PHILAM STRATEGIC GROWTH FUND, INC. -A 465.39 0.06% 0.83% -0.93% -0.45% 3.17% PHILEQUITY DIVIDEND YIELD FUND, INC. -A 1.5962 13.25% 9.78% 6.48% 3.53% 2.72% PHILEQUITY FUND, INC. -A35.7232 1.34% 1.47% 0.6% 0.99% 3.47% PHILEQUITY MSCI PHILIPPINE INDEX FUND, INC. -A 0.924 3.47% 1.74% 0.26% N.A 3.34% PHILEQUITY PSE INDEX FUND, INC. -A 4.6378 -0.14% 0.06% -0.59% 0.53% 3.52% PHILIPPINE STOCK INDEX FUND CORP. -A 763.85 -1.04% -0.32% -0.9% 0.34% 3.71% SOLDIVO STRATEGIC GROWTH FUND, INC. -A 0.7278 1.13% 1.79% 0.23% -1.22% 3.28% SUN LIFE PROSPERITY PHILIPPINE EQUITY FUND, INC. -A 3.3185 -5.42% -1.45% -1.72% -0.92%3.14% SUN LIFE PROSPERITY PHILIPPINE STOCK INDEX FUND, INC. -A 0.8566 -2.01% -0.79% -1.31% 0.06%3.73% UNITED FUND, INC. -A3.41757.5% 2.5% 0.63% 1.29% 4.99% PRIMARILY INVESTED IN PESO SECURITIES (UNITS)

www.businessmirror.com.ph

PSE STOCK QUOTATIONS

January 8, 2026

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

ASIA UNITED ASIA UNITED BDO UNIBANK BANK COMMERCE BANK PH ISLANDS CHINABANK CITYSTATE BANK EAST WEST BANK METROBANK PB BANK PBCOM PHIL NATL BANK PSBANK PHILTRUST RCBC SECURITY BANK UNION BANK BRIGHT KINDLE COL FINANCIAL DOMINION HLDG FERRONOUX HLDG MEDCO HLDG MANULIFE NTL REINSURANCE PHIL STOCK EXCH SUN LIFE VANTAGE

39.2 40.25 136.2 9.18 120.8 63 15.86 12.38 69.85 7.74 16.58 58.35 55.5 101 26 68.7 27 0.69 1.38 1.38 4.55 0.091 2,020 0.78 207 3,580 0.96

39.3 40.7 137.2 9.22 121 63.8 15.88 12.4 70.25 7.8 16.76 58.4 55.8 118.7 26.2 68.75 27.1 0.71 1.4 1.45 5.49 0.105 2,026 0.79 210.2 3,600 1

39.1 40.7 143 9.2 119.6 63.1 15.52 12 70 7.7 16.78 57.9 56 119 26 68.9 26.8 0.65 1.38 1.38 4.56 0.105 2,020 0.78 203 3,600 0.94

39.3 40.8 143 9.24 121.4 64.15 15.94 12.68 71.4 7.8 16.78 58.45 56 119 26.2 69.75 27.95 0.69 1.42 1.38 5.2 0.105 2,020 0.79 210.2 3,600 1

38.7 40.05 136.2 9.18 118.5 63 15.52 12 69.5 7.7 16.78 57.9 55.2 119 25.8 68.45 26.8 0.6 1.38 1.38 4.56 0.105 2,020 0.76 200 3,600 0.94

39.3 40.8 136.2 9.22 121 63 15.86 12.38 69.85 7.8 16.78 58.4 55.8 119 26 68.75 27.1 0.69 1.4 1.38 4.56 0.105 2,020 0.79 207 3,600 1

50,900 4,800 6,521,610 48,200 1,337,920 1,280,940 1,700 559,600 2,110,000 15,600 3,800 336,480 2,200 70 18,300 153,610 606,900 936,000 61,000 25,000 54,000 100,000 5 1,345,000 12,110 5 243,000

1,995,930 194,480 905,940,603 444,546 161,516,975 81,754,925 26,910 6,953,610 148,664,356 121,086 63,764 19,628,742.50 122,923 8,330 475,790 10,619,849 16,487,045 625,900 85,320 34,500 252,870 10,500 10,100 1,038,950 2,501,924 18,000 234,180

308,580 -423,730,001 74,003,726 -33,014,610 -522,810 25,433,120 8,436,075 29,610 -18,150 -375,077 3,025,040 46,110 -70,000 -26,000 10,100 123,880 -177,126 -

INDUSTRIAL ACEN CORP 2.95 2.99 2.96 3.05 2.93 2.95 18,734,000 55,675,630 -24,898,630 ALSONS CONS 0.53 0.53 0.52 0.53 0.52 0.53 140,000 73,200 ALTERNERGY HLDG 0.83 0.84 0.84 0.85 0.83 0.83 377,000 313,130 216,630 43.95 44 44 46.2 43.95 44 4,850,200 216,385,350 69,798,245 ABOITIZ POWER 0.84 0.88 0.87 0.88 35,000 30,780 RASLAG 0.88 0.88 BASIC ENERGY 0.125 0.126 0.123 0.125 0.121 0.125 4,790,000 591,670 146,150 CITICORE RE 4.4 4.5 4.5 4.58 4.4 4.5 179,000 804,490 -48,880 18.96 19 19.04 19.04 18.88 18.96 891,300 16,926,102 187,128 FIRST GEN 78 78.2 78.2 78.2 78 78 33,800 2,638,178 987,480 FIRST PHIL HLDG 3.12 3.97 3.97 4.3 77,000 330,770 JOLLIVILLE HLDG 4.3 4.3 MERALCO 175,298,010 591 594 595 599 589.5 591 295,910 -18,135,110 MANILA WATER 41.05 41.25 41 41.45 40.9 41.25 345,900 14,257,835 6,508,970 17.02 17 17.18 16.98 17.02 4,047,400 69,190,598 -8,846,716 MAYNILAD 17.08 2.58 2.59 2.53 2.61 2.53 2.59 2,615,000 6,737,460 -10,690.00 PETRON PRYCE CORP 13.9 14.36 13.6 14.5 13.5 13.9 74,900 1,035,622 632,720 REPOWER ENERGY 6.65 6.75 6.56 6.65 6.56 6.65 8,600 56,695 -6,650 SEMIRARA MINING 30.1 30.15 30.4 30.45 29.9 30.1 1,511,000 45,409,785 -3,256,570 17.78 17.8 17.56 17.94 17.5 17.78 2,077,600 36,800,580 -5,383,558 SYNERGY GRID 6.7 6.71 6.7 6.78 6.59 6.71 658,300 4,407,795 -300,377 SHELL PILIPINAS SPC POWER 10.46 10.48 10.4 10.5 10.3 10.46 53,300 556,104 57,790 SP NEW ENERGY 1.2 1.21 1.2 1.22 1.2 1.21 8,633,000 10,419,100 277,200 1.71 1.72 1.72 1.8 1.71 1.72 2,469,000 4,300,370 -1,760 TOP LINE 0.52 0.57 0.57 0.52 0.54 1,626,000 864,960 -93,010 AGRINURTURE 0.54 AXELUM 2.28 2.28 2.31 2.25 2.2 2.28 111,000 247,760 -6,790 CNTRL AZUCARERA 9.71 10.18 10.18 10.2 10.18 10.18 1,100 11,202 -4,072 CENTURY FOOD 40.15 40.6 40.4 41 40.15 40.6 802,200 32,526,000 6,173,500 4.57 4.62 4.58 4.58 51,000 234,860 DEL MONTE 4.69 4.62 DNL INDUS 3.99 4 3.98 4.05 3.97 3.99 8,164,000 32,655,460 3,653,110 EMPERADOR 12,542,780.00 16.06 16.08 16.08 16.22 15.96 16.06 2,703,300 43,377,502 SMC FOODANDBEV 55.95 55.95 55.5 55.5 55 55.95 125,040 6,964,222.50 -3,504,130 0.59 0.6 0.59 0.61 930,000 552,750 30,000 FIGARO GROUP 0.61 0.61 0.64 0.65 0.64 0.64 0.64 0.64 153,000 97,920 FRUITAS HLDG GINEBRA 296.8 298 300 302 296.8 5,450 1,627,762 -524,784 296.8 JOLLIBEE 209.6 205.8 206 209.6 204.8 206 1,008,420 207,727,114 6,211,152 KEEPERS HLDG 2.45 2.46 2.44 2.49 2.44 2.48 1,265,000 3,125,310 -1,331,730 34.75 35.4 35.45 35.45 34.75 34.75 11,600 405,640 17,400 LIBERTY FLOUR 6.54 6.78 6.89 6.89 6.78 6.78 7,800 53,511 -689 MACAY HLDG MAXS GROUP 2.35 2.37 2.31 2.4 2.31 2.35 106,000 250,000 -58,900 MG HLDG 0.064 0.064 0.062 0.064 0.064 0.064 20,000 1,280 6.19 6.2 6.17 6.32 6.17 6.19 4,665,300 29,137,783 -3,341,794 MONDE NISSIN 7.2 7.01 7.01 7.25 28,500 205,961 7,020 SHAKEYS PIZZA 7.25 7.25 2.5 2.59 2.53 2.59 2.5 2.59 376,000 944,510 105,770 ROXAS AND CO RFM CORP 4.88 4.89 4.9 4.91 4.87 4.89 563,000 2,753,110 -1,881,870 SWIFT FOODS 0.05 0.051 0.052 0.052 0.047 0.051 160,000 8,140 -1,560 70.95 71 70.85 71.65 69.85 71 2,410,210 171,087,013.50 -49,540,772.00 UNIV ROBINA 0.55 0.55 0.55 0.55 0.55 745,000 409,750 28,050 VITARICH 0.56 VICTORIAS 2 2 1.9 2 1.95 1.95 3,000 5,950 ATN HLDG A 0.49 0.54 0.495 0.495 0.495 0.495 200,000 99,000 CONCRETE A 48.35 51 50 50 50 50 100 5,000 46.55 52.9 52.9 52.9 20 1,058 52.9 52.9 CONCRETE B CONCREAT HLDG 1.14 1.16 1.11 1.17 1.11 1.15 874,000 998,870 455,240.00 EEI CORP 2.68 2.72 2.67 2.69 2.67 2.68 18,000 48,360 -2,680 MEGAWIDE 3.13 3.09 3.1 3.08 3.05 3.09 448,000 1,381,460 93,300 0.36 0.38 0.365 0.365 0.36 0.36 510,000 184,300 32,400 TKC METALS 1.66 1.66 1.66 1.67 53,000 88,510 58,450 CROWN ASIA 1.68 1.68 1.01 1.05 1.06 1.05 1.05 28,000 29,450 -3,150 EUROMED 1.06 MABUHAY VINYL 4.92 4.95 5 5.07 4.95 4.95 12,000 59,570 14.28 CONCEPCION 14 14 14.3 13.92 14.3 166,300 2,358,432 1,438,508 0.174 0.177 0.174 0.174 1,750,000 306,610 GREENERGY 0.181 0.181 INTEGRATED MICR 4.13 4.03 4.03 4.2 2,283,000 9,471,580 -1,372,010 4.2 4.2 IONICS 1.11 1.12 1.14 1.14 1.1 1.11 1,240,000 1,386,410 -118,650.00 PANASONIC 10.78 10.7 10.8 11 11 10.8 8,900 96,554 0.71 0.74 0.69 0.75 0.69 0.74 6,079,000 4,352,750 5,410.00 CIRTEK HLDG

HOLDING & FRIMS

ABACORE CAPITAL 0.32 0.325 0.31 0.325 0.31 0.325 6,750,000 2,151,000 503,050 ASIABEST GROUP 18.6 18.6 17.7 18 17.64 18.6 37,900 677,190 151,480 AYALA CORP 496 498 487.6 499.8 484.6 498 394,740 195,930,806 73,479,470 31.15 31.25 30.1 31.35 29.75 31.25 3,322,700 103,329,180 7,029,505 ABOITIZ EQUITY 8.11 7.9 7.88 8.2 3,302,000 26,855,913 7,664,372 ALLIANCE GLOBAL 8.2 8.2 ANSCOR 14.5 14.5 13.94 14.48 13.94 13.94 67,300 955,554 COSCO CAPITAL 7.47 7.49 7.43 7.49 7.43 7.47 278,200 2,077,631 -243,582 10.68 10.7 10.7 10.8 10.66 10.7 2,747,900 29,470,930 13,465,766 DMCI HLDG 4.6 4.65 4.7 4.7 4.6 4.69 25,000 116,460 FILINVEST DEV GT CAPITAL 595.5 597.5 589 602 580 595.5 400,740 238,196,255 109,568,170 COL EQUITY INDEX UNITIZED MUTUAL FUND, INC. -A 1.0736 -1.01% -0.41% N.A N.A JG SUMMIT 24.2 24.3 24.05 24.55 23.7 24.2 1,902,800 46,166,275 -9,252,380 3.7% COL STRATEGIC GROWTH EQUITY UNITIZED MUTUAL FUND, INC. -A 1.0792 1.76% N.A N.A LODESTAR 0.335 0.33 0.33 0.34 0.33 0.335 70,000 23,450 N.A 3.26% 3.59 3.62 3.76 3.76 3.59 3.59 1,220,000 4,409,570 -2,125,120 HLDG LOPEZ PHILEQUITY ALPHA ONE FUND, INC. -A 0.9865 -4.88% -3.12% -2.24% N.A 15.22 15.3 15.2 15.52 15.2 15.22 4,282,200 65,904,068 20,419,032 LT GROUP 4.04% PRIME MEDIA 1.16 1.23 1.2 1.2 1.16 1.16 6,000 7,040 PHILIPPINE STOCK INDEX FUND CORP. -A 921.37 -1.72% -0.54% N.A N.A 3.71% REPUBLIC GLASS 3.01 3.36 3.2 3.2 3 3 15,000 47,800 EXCHANGE TRADED FUND (SHARES) 1.34 1.34 SOLID GROUP 1.3 1.3 1.3 1.34 285,000 375,370 1,300 FIRST METRO PHIL. EQUITY EXCHANGE TRADED FUND, INC. -A,C 103.9831 -1.44% -0.05% 720 728.5 731 743 720 720 271,030 197,209,720 -18,155,730 SM INVESTMENTS -0.62% 0.86%3.75% 84 84.1 83.9 84.9 83.25 84.1 296,130 24,882,007.50 -9,021,490.50 SAN MIGUEL CORP PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) TOP FRONTIER 57.2 61.15 61 61 61 61 20 1,220 ATRAM ASIAPLUS EQUITY FUND, INC. -B $1.0764 28.57% 6.75% -3.04% 2.33% ZEUS HLDG 0.067 0.071 0.072 0.072 0.072 0.072 130,000 9,360 6.38% SUN LIFE PROSPERITY WORLD VOYAGER FUND, INC. -A $2.2441 14.66% 16.07% 5.98% N.A 1.16% PROPERTY BALANCED FUNDS AYALA LAND 22.8 22.85 22.7 23.1 22.55 22.8 7,667,500 175,650,545 13,993,085 PRIMARILY INVESTED IN PESO SECURITIES (SHARES) AYALA LAND LOG 1.37 1.38 1.35 1.38 1.31 1.37 606,000 816,460 -364,190 ARANETA PROP 0.41 0.42 0.41 0.415 0.41 0.415 550,000 227,000 8,300 1.13% -0.8% ATRAM PHILIPPINE BALANCED FUND, INC. -A 2.1922 2.21% 0.55% 2.17% 43.8 44 43.85 44.4 43.8 43.8 1,573,000 69,500,210 31,424,480 AREIT RT ATRAM UNICAPITAL DIVERSIFIED GROWTH FUND, INC. -A 1.6687 6% 4.07% 1.01 1.02 1 1.03 1 1.02 3,314,000 3,363,870 276,740 A BROWN -0.16% -0.08%1.73% CITYLAND DEVT 0.59 0.6 0.58 0.62 0.58 0.61 437,000 265,580 FIRST METRO SAVE AND LEARN BALANCED FUND, INC. -A 2.5194 -0.25% -0.4% 0.075 0.075 CROWN EQUITIES 0.072 0.073 0.073 0.075 1,350,000 98,700 -0.81% -0.31%2.27% FIRST METRO SAVE AND LEARN F.O.C.C.U.S. DYNAMIC FUND, INC. -A 0.2359 7.28% 6.35% 2.49 2.5 2.51 2.52 2.48 2.5 160,000 399,640 -57,460 CEB LANDMASTERS 3.52% N.A2.34% 0.7 0.69 0.68 0.7 5,476,000 3,821,700 -12,590 CENTURY PROP 0.71 0.71 NCM MUTUAL FUND OF THE PHILS., INC. -A,1 2.041 2.46% 1.14% 0.74% 3.53 3.54 3.55 3.56 3.54 3.54 2,034,000 7,211,110 913,810 CITICORE RT 1.56% 1.89% DOUBLEDRAGON 9.25 9.15 9.19 9.29 9.12 9.15 65,900 602,976 -405,069 PAMI HORIZON FUND, INC. -A3.8606 4.19% 3.46% 0.42% 1.03% 1.73% PHILAM FUND, INC. -A16.29930.66% 2.1% -0.73% 0.42% 1.67% DDMP RT 1.04 1.04 1.03 1.03 1.03 1.04 1,319,000 1,360,910 9,270 SOLIDARITAS FUND, INC. -A2.1416 1.35% 2.05% 0.47% 0.91% 1.69% 4.71 5.09 5 4.61 5.09 53,800 263,238 78,917 DM WENCESLAO 5.09 SUN LIFE OF CANADA PROSPERITY BALANCED FUND, INC. -A 3.4906 -0.43% 1.01% 0.109 0.11 0.108 0.112 0.108 0.11 4,350,000 478,940 EMPIRE EAST -0.45% -0.02%1.44% SUN LIFE PROSPERITY DYNAMIC FUND, INC. -A 0.9248 -0.48% 1.23% 0.85% FILINVEST RT 3.08 3.08 3.07 3.06 3.04 3.07 746,000 2,281,660 -1,552,630 0.27% 1.36% FILINVEST LAND 0.81 0.81 0.8 0.8 0.79 0.81 3,158,000 2,526,750 PRIMARILY INVESTED IN PESO SECURITIES (UNITS) GLOBAL ESTATE 0.75 0.78 0.72 0.8 0.72 0.78 1,821,000 1,414,760 -177,750 1,021 1,078 1,080 1,080 1,080 1,080 5 5,400 GOLDEN MV SUN LIFE PROSPERITY ACHIEVER FUND 2028, INC. -A 0.9865 2.22% 2.42% -0.71% N.A 0.77% PHIL INFRADEV 0.345 0.355 0.34 0.36 160,000 56,050 3,400 0.36 0.36 SUN LIFE PROSPERITY ACHIEVER FUND 2038, INC. -A 0.8643 0.06% 0.43% -1.8% N.A KEPPEL PROP 2.25 2.86 2.25 2.25 2.25 2.25 2,000 4,500 2.5% CITY AND LAND 0.51 0.52 0.53 0.53 0.52 0.52 79,000 41,150 SUN LIFE PROSPERITY ACHIEVER FUND 2048, INC. -A 0.837 -0.83% -0.16% -2.09% N.A 2.16 2.15 2.14 2.17 14,662,000 31,664,610 12,301,450 2.17 2.17 MEGAWORLD 3.05% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) 0.89 0.92 0.94 0.95 0.89 0.92 51,793,000 47,107,930 -13,364,860 MRC ALLIED MREIT RT 13.96 13.98 14 14 13.96 13.96 700,700 9,793,388 -2,988,526 COCOLIFE DOLLAR FUND BUILDER, INC. -A $0.03446 7.45% 2.27% -2.48% OMICO CORP 0.101 0.109 0.101 0.101 0.101 0.101 40,000 4,040 -0.27% 0.44% PRMIERE HORIZON 0.218 0.225 0.229 0.229 0.218 0.218 6,050,000 1,336,590 -44,400 PAMI ASIA BALANCED FUND, INC. -B $1.2472 10.82% 1.11% 3.81% 28.29% 3.62% 0.3 0.305 0.3 0.3 0.3 0.3 150,000 45,000 PHIL ESTATES SUN LIFE PROSPERITY DOLLAR ADVANTAGE FUND, INC. -A $5.3683 12.05% 11.49% PREMIERE 1.09 1.12 1.13 1.15 1.09 1.12 438,000 485,570 -37,290.00 RT 3.46% 5.84%0.8% PRIMEX CORP 1.14 1.28 1.13 1.13 1.13 1.13 31,000 35,030 SUN LIFE PROSPERITY DOLLAR WELLSPRING FUND, INC. -A $1.1857 8.66% 6.6% 0.3% N.A0.34% RL COMM RT 7.92 7.95 7.95 7.99 7.91 7.92 8,945,000 70,963,575 13,798,500 BOND FUNDS 16.9 17.04 17.5 17.5 16.84 17.04 1,878,100 8,386,264 ROBINSONS LAND 32,136,410 PRIMARILY INVESTED IN PESO SECURITIES (SHARES) 1.89 1.9 1.85 1.9 324,000 611,490 ROCKWELL 1.9 1.9 SHANG PROP 3.61 3.65 3.6 3.67 3.6 3.65 470,000 1,715,740 40,040 ALFM PESO BOND FUND, INC. -A420.43 4.16% 3.63% 2.54% 2.68% 0.17% ATRAM CORPORATE BOND FUND, INC. -A 1.9595 2.74% 1.4% 0.61% 0.35% SM PRIME HLDG 23.25 23.3 23.1 23.35 23 23.25 9,231,700 214,399,105 -90,838,315 0.08% VISTAMALLS 1.21 1.16 1.2 1.2 1.18 1.18 73,000 87,410 -30,250 COCOLIFE FIXED INCOME FUND, INC. -A 3.5869 3.25% 3.66% 2.21% 3.5% 0.72 0.73 0.68 0.74 0.68 0.73 253,000 182,600 SUNTRUST RESORT 0.16% UNIHOLDINGS 133 150 160 132.9 150 260 37,482 3,997 132.9 EKKLESIA MUTUAL FUND, INC. -A 2.4587 3.69% 4.19% 1.39% 1.87% 0.2% VISTA LAND 1.35 1.35 1.33 1.3 1.27 1.35 7,165,000 9,339,650 -853,270 FIRST METRO SAVE AND LEARN FIXED INCOME FUND, INC. -A 2.5733 3.11% 2.51% VISTAREIT RT 1.49 1.5 1.48 1.49 1.47 1.49 1,262,000 1,877,780 695,140 0.98% 1.54%0.14% PHILAM BOND FUND, INC. -A4.6266 3.89% 3.53% -0.01% 1.49% 0.42% PHILAM MANAGED INCOME FUND, INC. -A 1.5238 4.87% 4.87% 2.91% SERVICES 2.81% 0.17% ABS CBN 4.21 4.28 4.5 4.5 4.15 4.21 612,000 2,606,010 PHILEQUITY PESO BOND FUND, INC. -A 4.3231 3.81% 3.82% 1.63% 2.25% GMA NETWORK 5.7 5.7 5.69 5.65 5.65 5.7 587,500 3,332,782 0.17% MANILA BULLETIN 0.17 0.175 0.17 0.17 0.17 0.17 210,000 35,700 SOLDIVO BOND FUND, INC. -A1.1233 4.21% 3.3% 1.55% 2.07% 0.22% SUN LIFE OF CANADA PROSPERITY BOND FUND, INC. -A 3.5654 3.94% 4.23% 2.2% 5.09 6.75 6.75 6.75 6,600 44,550 6.75 6.75 MLA BRDCASTING 2.81% 0.39% DITO 0.76 0.77 0.77 0.79 0.75 0.77 16,054,000 12,372,370 -5,388,560 CME HLDG SUN LIFE PROSPERITY GS FUND, INC. -A 1.8931 3.82% 3.75% 1.6% 2.2% GLOBE TELECOM 1,619 1,620 1,610 1,629 1,610 1,620 19,990 32,396,360 -13,162,980 0.42% PLDT 1,280 1,280 1,279 1,280 1,265 1,279 89,130 113,746,410 -766,580 PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) 0.0058 0.0056 0.0056 0.0058 220,000,000 1,263,800 29,000 APOLLO GLOBAL 0.0059 0.0059 ALFM DOLLAR BOND FUND, INC. -A 3.71% 3.29% 1.82% 2.34% 0.1% $529.3 15.4 15.42 15.24 15.04 15.4 9,198,400 141,485,810 -44,620,680 CONVERGE 15.44 ALFM EURO BOND FUND, INC. -AЄ223.72 2.2% 2.19% 0.39% 0.81% 0.02% 0.79 0.81 0.81 0.82 0.79 0.81 251,000 199,810 -52,140 DFNN INC ATRAM TOTAL RETURN DOLLAR BOND FUND, INC. -B $1.0748 4.03% 2.08% -3.4% ISLAND INFO 0.126 0.13 0.133 0.133 0.125 0.13 2,590,000 332,520 -0.19% -0.03% FIRST METRO SAVE AND LEARN DOLLAR BOND FUND, INC. -A $0.0264 6.02% 3.66% 0% NOW CORP 0.69 0.7 0.71 0.71 0.69 0.7 401,000 280,800 153,310 0.83% -0.38% 0.135 0.136 0.137 0.137 0.134 0.135 1,140,000 153,670 TRANSPACIFIC BR PAMI GLOBAL BOND FUND, INC. -B $1.0597 22.91% 7.18% -0.62% 0.07% ASIAN TERMINALS 34.6 34.65 34.55 34.7 244,300 8,454,420 4,906,700 34.7 34.7 0.04% PHILAM DOLLAR BOND FUND, INC. -A $2.4763 7.39% 4.53% -0.46% 1.55% CHELSEA 0.95 0.95 0.94 0.93 0.93 0.94 32,000 30,060 -0.1% CEBU AIR 33.4 33.45 33.55 33.6 33.05 33.45 49,700 1,664,410 -766,905 PHILEQUITY DOLLAR INCOME FUND, INC. -A $0.0644136 3.62% 2.44% 0.67% INTL CONTAINER 615 615.5 593 617.5 592.5 615 1,276,990 782,653,385 370,420,915 1.5% 0% 8.79 8.5 8.5 8.85 2,000 17,659 LBC EXPRESS 8.85 8.85 SUN LIFE PROSPERITY DOLLAR ABUNDANCE FUND, INC. -A $2.9192 7.24% 2.42% -1.91% 0.23%-0.34% LORENZO SHIPPNG 0.56 0.62 0.61 0.61 0.56 0.56 25,000 14,050 560 MONEY MARKET FUNDS MACROASIA 1,931,910.00 4.6 4.61 4.54 4.65 4.54 4.61 1,248,000 5,744,490 PRIMARILY INVESTED IN PESO SECURITIES (SHARES) PAL HLDG 3.85 3.85 3.81 3.8 3.8 3.85 3,000 11,500 0.56 0.58 0.6 0.6 0.58 0.58 11,000 6,540 HARBOR STAR AIB MONEY MARKET MUTUAL FUND, INC. -A 1.167 3.06% N.A N.A N.A 0.09% BOULEVARD HLDG 0.038 0.039 0.041 0.042 0.039 0.039 24,700,000 996,700 ALFM MONEY MARKET FUND, INC. -A 149 4.47% 3.79% 2.79% 2.68% DISCOVERY WORLD 1.04 1.04 1.01 1.04 1.04 1.04 1,000 1,040 0.2% RESORTS GRP PH 0.138 0.14 0.142 0.142 0.138 0.14 270,000 37,840 FIRST METRO SAVE AND LEARN MONEY MARKET FUND, INC. -A 1.1986 3.88% 3.73% 0.435 WATERFRONT 0.41 0.41 0.42 0.41 0.41 170,000 69,800 2.72% N.A0.13% SUN LIFE PROSPERITY PESO STARTER FUND, INC. -A 1.4826 3.91% 3.46% 2.71% 16.1 16.38 16.4 16.4 16.38 16.38 18,300 300,116 CENTRO ESCOLAR 2.66% 0.11% FAR EASTERN U 801 814.5 800.5 800.5 800 800.5 80 64,035 8,005 PRIMARILY INVESTED IN PESO SECURITIES (UNITS) IPEOPLE 6.26 6.26 6.27 6.26 6.26 6.26 500 3,130 3,130 ALFM MONEY MARKET FUND, INC. -A 114.05 4.33% 4.3% N.A N.A STI HLDG 1.4 1.4 1.39 1.4 1.39 1.4 3,390,000 4,728,740 1,109,330 0.17% 1.34 1.36 1.35 1.37 1.35 1.36 252,000 342,610 2,740 BELLE CORP PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (SHARES) 2.73 2.74 2.78 2.81 2.74 2.74 15,254,000 42,249,800 -22,818,050 BLOOMBERRY 1.74 1.75 1.73 1.76 1.73 1.74 26,000 45,240 PACIFIC ONLINE SUN LIFE PROSPERITY DOLLAR STARTER FUND, INC. -A $1.1771 3.06% 3.22% 2.26% N.A 0.09% DIGIPLUS 16.98 16.66 16.7 16.9 16.54 16.66 4,727,100 78,961,056 -1,655,844 FEEDER FUNDS PHILWEB 6.63 6.41 6.49 6.41 6.41 6.41 2,750,300 17,983,131 -2,137,548 PRIMARILY INVESTED IN PESO SECURITIES (UNITS) 0.035 0.036 0.035 0.036 0.035 0.036 88,000,000 3,159,800 -2,206,800 ALLDAY 0.27 0.27 0.27 0.265 0.27 1,090,000 294,250 40,500 ALLHOME 0.275 ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A 46.7844 4.41% 2.71% N.A N.A 1.47% METRO RETAIL 1.17 1.17 1.14 1.16 1.12 1.17 128,000 146,500 -19,000.00 SUN LIFE PROSPERITY WORLD EQUITY INDEX FEEDER FUND, INC. -A 2.2094 22.57% 20.99% PUREGOLD 46,331,000 39.7 40 40 40.4 39.7 40 1,156,700 -591,370 14.03% N.A2.07% 35.2 35.25 34.65 35.4 34.65 35.2 406,900 14,289,655 846,380 ROBINSONS RTL SUN LIFE PROSPERITY WORLD INCOME FUND, INC. -A 1.1273 5.66% N.A N.A N.A 36.95 37 37.65 37.9 36.95 37 485,500 17,964,365 -1,143,865 PHIL SEVEN CORP 1.64% PRIMARILY INVESTED IN FOREIGN CURRENCY SECURITIES (UNITS) 2.76 2.88 2.73 2.9 2.71 2.88 7,760,000 21,770,030 -76,690 SSI GROUP UPSON INTL CORP 0.69 0.71 0.71 0.71 0.7 0.71 157,000 110,900 ALFM GLOBAL MULTI-ASSET INCOME FUND, INC. -A $0.819 2.73% 0.88% -3.72% N.A WILCON DEPOT 6.99 7 6.9 7.06 6.9 7 1,433,700 10,040,886 1,373,262 0.39% 0.107 0.108 0.108 0.108 660,000 71,280 APC GROUP 0.108 0.108 A - NAVPS AS OF THE PREVIOUS BANKING DAY. B - NAVPS AS OF TWO BANKING DAYS AGO. C - LISTED IN THE PSE. IPM HLDG 1.43 1.6 1.6 1.6 9,000 14,400 1.6 1.6 MEDILINES 0.25 0.25 0.247 0.245 0.245 0.25 620,000 153,310 1 - EFFECTIVE OCTOBER 1, 2025, ITS FUND MANAGEMENT IS WITH BPI WEALTH. 2.52 PAXYS 2.5 2.51 2.59 2.51 2.52 26,000 65,490 2,450 * THE FIRST TRANCHE (CORPORATE DEBT FUND 1) OF THE ATRAM UNITIZED CORPORATE DEBT VEHICLE, INC. MATURED ON MAY 25, 2025. MINING & OIL 2.15 2.15 ATOK 2.14 2.15 2.15 2.15 8,000 17,200 APEX MINING 12.6 12.66 12.8 12.8 12.5 12.66 4,066,100 51,423,602 5,996,640 “While we endeavor to keep the information accurate, the Philippine Investment Funds Association (PIFA) and 7.06 7.1 7.18 7.18 7.02 7.1 742,100 5,256,825 1,685,703 ATLAS MINING its members make no warranties as to the correctness of the newspaper’s publication and assume no liability or 5.04 5.19 5.16 5.2 5.16 5.19 27,500 142,412 BENGUET A responsibility for any error or omissions. You may visit http://www.pifa.com.ph to see the latest NAVPS/NAVPU.” CENTURY PEAK 2.41 2.41 2.32 2.3 2.3 2.41 18,000 42,370 40,070 DIZON MINES 5.02 5.08 5.18 5.18 4.86 5.02 14,000 70,286 0.305 0.31 0.305 0.305 60,000 18,350 0.31 0.31 EC VULCAN FERRONICKEL 1.91 1.9 1.98 1.9 1.96 2,857,000 5,578,110 1,361,340 1.96 0.088 0.094 0.095 0.093 0.095 220,000 20,680 GEOGRACE 0.094 LEPANTO A 0.191 0.191 0.189 0.19 0.189 0.19 29,170,000 5,539,720 LEPANTO B 0.189 0.19 0.195 0.195 0.19 0.19 9,200,000 1,748,150 0.0072 0.0074 0.0073 0.0073 0.0072 0.0073 82,000,000 596,600 MANILA MINING A MANILA MINING B 0.0072 0.0073 0.0072 0.0073 0.0072 0.0073 184,000,000 1,325,000 MARCVENTURES 0.81 0.78 0.79 0.8 0.77 0.79 5,743,000 4,554,460 -857,530 NIHAO 0.345 0.395 0.395 0.395 0.395 0.395 10,000 3,950 NICKEL ASIA 4.33 4.34 4.4 4.54 4.26 4.34 16,072,000 71,104,310 18,499,000 34.4 34.1 35.45 34.05 34.55 470,600 16,238,420 632,710 OCEANAGOLD 34.55 0.42 0.435 0.42 0.42 120,000 50,700 ORNTL PENINSULA 0.435 0.435 PX MINING 10.18 10.2 10.3 10.3 10.1 10.18 1,849,300 18,825,322 10,581,522 UNITED PARAGON 0.005 0.0052 0.0051 0.0051 0.0048 0.005 30,000,000 145,600 0.011 0.012 0.012 0.012 0.012 0.012 100,000 1,200 ORNTL PETROL A ORNTL PETROL B 0.011 0.012 0.011 0.011 0.011 0.011 300,000 3,300 PHILODRILL 0.0091 0.0088 0.009 0.009 0.009 0.009 46,000,000 414,100 PXP ENERGY 2.47 2.48 2.58 2.59 2.48 2.48 1,286,000 3,238,000 92,480 PREFFERED AC PREF AR 2,510 2,520 2,530 2,530 2,520 2,520 70 176,500 AC PREF B3R 1,990 2,004 1,998 1,998 1,998 1,998 330 659,340 ALCO PREF D 488.2 494 488.2 488.2 488.2 488.2 20 9,764 98.05 100 98 98 98 98 290 28,420 BRN PREF A BRN PREF C 106.5 106.8 106.9 107 106.5 106.5 9,570 1,021,135 CEB PREF 35.6 35.6 34.6 35.6 35.6 35.6 800 28,480 CLI PREF A1 1,005 1,029 1,005 1,005 1,005 1,005 5 5,025 1,025 1,069 1,070 1,072 1,020 1,023 640 659,095 -500,740 CLI PREF A2 96 96.45 96.3 96.4 96 96.2 30,090 2,891,254 -1,870,754 DD PREF 98 98.9 98.9 98.9 97.2 98.9 3,120 308,364 EEI PREF B JFC PREF B 975.5 990 975 975 975 975 10 9,750 MWIDE PREF 6B 100.3 102.9 102.9 102.9 102.9 102.9 10 1,029 100.4 104.7 104.7 104.7 104.7 104.7 10 1,047 MWIDE PREF 7A PCOR PREF 3B 1,001 1,004 1,005 1,005 1,005 1,005 50 50,250 PCOR PREF 4A 990 1,000 992 992 990 990 1,100 1,089,020 PCOR PREF 4B 995 1,030 1,030 1,030 995 995 1,030 1,025,900 PCOR PREF 4C 1,010 1,020 1,020 1,020 1,020 1,020 100 102,000 1,001 1,015 1,015 1,015 1,015 1,015 50 50,750 PCOR PREF 4E SMC PREF 2I 74.9 75.1 74.9 75.15 74.9 74.9 140 10,511 SMC PREF 2L 79.1 79.2 77.65 79.1 77.65 79.1 72,350 5,713,170 SMC PREF 2N 79.05 80 80 80 80 80 14,570 1,165,600 -1,165,600 80.5 80.95 81.3 81.3 80.95 80.95 350 28,360.50 SMC PREF 2O SMC PREF 2R 76.5 77.5 76.5 76.5 76.5 76.5 3,300 252,450 SMC PREF 2S 75.25 76 75.5 76 75.25 76 820 61,855 SMC PREF 2U 77.05 78.8 78.8 78.8 78.7 78.8 1,000 78,799 TECH PREF B2C 12.26 12.96 13 13 12.26 12.26 5,700 70,944 8.27 8.46 8.4 8.46 8.3 8.46 21,700 182,168 TECH PREF B2D VLL PREF 2A 87.65 92.25 87.5 92.3 87.5 92.25 130 11,518 -923 VLL PREF 2B 91 93.2 93.1 93.2 91 93.2 5,250 485,037.50 -160,304

PHIL. DEPOSITARY RECEIPTS ABS HLDG PDR GMA HLDG PDR

WARRANTS

AGI WARRANT

3.61 4.46 5.3 5.4 5.29 5.29 5.29 5.29 100

1.08

SMALL, MEDIUM & EMERGING

BALAI FRUITAS CTS GLOBAL HAUS TALK ITALPINAS LFM PROP MERRYMART XURPAS NEXGEN ENERGY

0.335 0.38 1.02 0.86 0.038 0.435 0.255 3.08 104

1.09

1.1

1.12

1.07

1.09

1,624,000

1,766,990

0.34 0.395 1.07 0.88 0.043 0.44 0.26 3.1

0.34 0.38 1.07 0.89 0.037 0.45 0.248 3.1

0.355 0.39 1.08 0.89 0.044 0.45 0.26 3.1

0.34 0.365 1.02 0.85 0.037 0.435 0.247 3.1

0.34 0.38 1.07 0.87 0.044 0.44 0.26 3.1

370,000 1,640,000 366,000 93,000 1,800,000 640,000 1,540,000 1,000

126,150 622,150 391,100 81,290 71,800 285,000 386,590 3,100

-7,650 -40 26,380 -27,000 -2,480 -

EXHANGE TRADE FUNDS FIRST METRO ETF

529

104.2

103.5 104.3 103 104.2 15,660 1,626,675 -24,160

www.news.businessmirror@gmail.com

Banking&Finance BusinessMirror

A ‘fire’ worth paying attention to: What global signals mean for PHL associations

S we enter 2026, I thought I’d share the “FIRE Report Brief: A Strategic Sector Outlook 2026–2028,” which I read from an insightful piece by Mark Athitakis in the ASAE’s Associations Now e-newsletter dated December 9, 2025. The article summarized a report released by the Chicagobased Association Forum. What immediately caught my attention was not just the framework, but the timing. The association sector, locally and globally, is clearly standing at a crossroads, and this report names the moment with clarity. FIRE, for “Forces, Insights, Risks, and Evolution,” is more than a clever acronym. It is a strategic lens that reflects where associations truly are today: resilient, relevant, but increasingly stretched. Drawing from sector data and executive perspectives, the report outlines the forces that will shape associations through 2026 to 2028: economic uncertainty, accelerated digital transformation, workforce shifts, and rising member expectations chief among them. One of the most resonant insights in the FIRE Report is the growing fragility of event-dependent business models. For years, conferences and conventions have been the lifeblood of many associations. Yet the report cautions that reliance on episodic, high-risk revenue streams exposes organizations to shocks, whether from market volatility, geopolitical disruptions, or changing member behavior. The proposed evolution towards yearround learning ecosystems and diversified value offerings is not theoretical; it is fast becoming a survival strategy. Another critical force is artificial intelligence. While many associations acknowledge its potential, adoption remains uneven and cautious. The FIRE Report frames AI, not as a threat, but as a strategic enabler, one that can enhance decision-mak ing, persona lize member engagement, and improve operational efficiency when implemented with proper governance. For Philippine associations, often operating with lean teams and limited resources, AI can serve as

Association World Octavio Peralta a force multiplier rather than a luxury, if leaders are willing to invest and experiment wisely. The report also flags workforce capacity and leadership continuity as significant risks. Globally, associations are grappling with talent shortages, burnout, and skills gaps. Locally, this challenge is compounded by rapid labor mobility and the growing demand for digital and strategic competencies. Associations that fail to develop their people, both staff and volunteer leaders, may find their missions constrained by internal limitations rather than external competition. Perhaps the most important message of the FIRE Report is its call for intentional evolution. Associations must move beyond incremental adjustments and embrace strategic renewal. Membership can no longer be defined by access alone; it must be anchored on outcomes such as career growth, community, credibility, and collective impact. For Philippine associations, the implications are clear. As we enter a new year, leaders and professionals must ask hard questions: Are our strategies fit for the future we are entering, not the past we are leaving? Are we building organizations that can adapt, collaborate, and innovate in uncertainty? The FIRE Report reminds us that moments of disruption are also moments of choice. We can protect what was, or we can design what will be. For association leaders, the call to action is timely and urgent: lead with foresight, invest in capability, and evolve with purpose. The future of our associations and the sectors they serve depends on it. Octavio Peralta is founder and volunteer CEO of the Philippine Council of Associations and Association Executives, the “association of associations.” The views he expressed herein do not necessarily reflect those of the BusinessMirror . E-mail: bobby@pcaae.org.

New MB member Go thanks PBBM for trust

INANCE Secretary Frederick D. Go was formally sworn in as a member of the Monetary Board, the highest policy-making body of the Bangko Sentral ng Pilipinas (BSP) on Thursday. In a statement, the central bank said BSP Governor Eli M. Remolona Jr. administered the Finance chief’s oath of office during a ceremony at the BSP Head Office. “I am honored to accept my appointment to the Monetary Board and sincerely thank the President for his continued trust and confidence,” Go said in a separate statement. President Ferdinand R. Marcos Jr. designated Go as Cabinet representative to BSP’s policy-making body, replacing former Finance Secretary and now Executive Secretary Ralph G. Recto. “I will pursue the strategic alignment of fiscal and monetary policies in support of the Board’s mandate to maintain price stability and safeguard our financial system,” Go said. “I look forward to working with my fellow Monetary Board members in building an economy that is resilient, robust and inclusive for every Filipino,” he added.

The Monetary Board’s other members are Benjamin E. Diokno, Romeo L. Bernardo, Rosalia V. De Leon, Jose L. Querubin and Walter C. Wassmer. Go served as Special Assistant to the President for Investment and Economic Affairs (SAPIEA) before leading the Department of Finance (DOF). As the Sapiea, Go oversaw the implementation of the country’s economic and investment policies, chaired the Economic Development Group, and worked closely with DOF; Department of Economy, Planning, and Development; Department of Budget and Management; Department of Trade and Industry; Board of Investments; Philippine Economic Zone Authority; and Securities and Exchange Commission. Go also previously headed Robinsons Land Corp. as chief executive officer and held senior leadership roles across multiple industries, including media, retail, food, banking and finance, aviation, petrochemicals and power. He earned a Bachelor of Science degree in Management Engineering from the Ateneo de Manila University. Reine Juvierre S. Alberto

Editor: Dennis D. Estopace • Friday, January 9, 2026

BSP resists ‘tremendous’ pressure to defend peso

By Reine Juvierre Alberto

@reine_alberto

HE Bangko Sentral ng Pilipinas (BSP) will not intervene to defend the Philippine peso even if the currency plunges to P60 per US dollar, despite “tremendous” pressure from the market.

BSP Governor Eli M. Remolona Jr. told reporters on the sidelines of a Rotary Club event last Thursday that the peso reaching the P60 level is “just a number.” “There’s tremendous pressure to defend the peso. We’ve resisted that pressure,” Remolona said. “We ignore that… I feel the pressure; but the economics of it is we shouldn’t,” the governor added. “The

economics doesn’t warrant defending the peso.” The local currency sank to another record low of P59.355 on Wednesday amid a stronger greenback and market bets on local monetary policy easing. (See: https://businessmirror.com.ph/2026/01/08/pesohits-new-low-of-%e2%82%b159355-on-strong-us-dollar/). The Philippine economy is largely

services-driven, Remolona noted, and does not rely on manufactured exports. “In the old days, I would have not defended the peso, but promoted depreciation of the peso when we still had a significant manufacturing,” the central bank governor told reporters. Speaking at the event, Remolona said other central banks have a deliberate policy to weaken their currencies to support exports. However, that “boat has sailed” for the Philippine economy, as it could have done that 20 years ago, he added. “We don’t have really good exports to support. We lost the way in terms of promoting manufacturing,” Remolona said. The Philippines is a country with persistent current account deficits, while its neighbors have persistent current account surpluses, he added. “We have a culture of consump-

tion. So the peso goes where it goes to reflect that,” the governor said. The BSP does, however, intervene in the foreign exchange market to prevent sharp swings, Remolona said. “We always intervene a little… But the policy is not to be too sharp,” he said. “When we worry about the exchange rate, we worry about it when it becomes inflationary. When the depreciation becomes too sharp, then it leads to inflation,” the BSP chief noted. “We don’t target any particular level. We don’t worry about P60 or P59,” Remolona said. Data from the Bankers’ Association of the Philippines (BAP) showed the peso gained 18.5 centavos to close at P59.17 against the dollar on Thursday from its record-low P59.355 finish on Wednesday. The local unit opened at P59.3 and traded at its weakest at P59.3 versus the greenback and P59.01 at its best.

Govt released ₧20.677B BIR files criminal cases in calamity funds in ’25 vs Wawa Builders Corp.

HE government released a total of P20.677 billion in calamity funds last year to finance its relief and rehabilitation efforts. Latest data from the Department of Budget and Management (DBM) showed 98.46 percent of the P21-billion allotment has been disbursed to frontline agencies as of end-December 2025. Calamity funds may be used for aid, relief and rehabilitation, as well as to repair and reconstruct damages from natural or human-induced calamities within the current or past two years. The bulk, or P11.211 billion, of the said funds were extended to the Department of Social Welfare and Development (DSWD), mostly to replenish its Quick Response Fund (QRF). The QRF serves as a standby fund for the rehabilitation and recovery of communities affected by calamities and other national emergencies. DSWD was followed by the Department of Public Works and Highways (DPWH), receiving P5.757 billion to rehabilitate

infrastructure projects across the country damaged by various disasters. Other recipients of the calamity funds were the Departments of Agriculture; Interior and Local Government; National Defense; Science and Technology; Transportation; and Finance. State-run firms, including the National Electrification Administration and the National Irrigation Administration, also obtained P200 million and P300 million from the fund, respectively. The Metropolitan Manila Development Authority was also given P140 million. As of end-December 2025, about P311.857 million remains in the calamity fund under the People’s Survival Fund (PSF). The PSF is intended for local government units and accredited local or community organizations to implement climate change adaptation projects. For this year, the calamity fund is set at P39.822 billion, higher by 89.63 percent from last year’s P21 billion allocation. Reine Juvierre S. Alberto

HE Bureau of Internal Revenue (BIR) filed criminal complaints against the sole proprietor of Wawao Builders Corp., Mark Allan Villamor Arevalo, over tax deficiencies worth P48.39 million arising from a ghost flood-control project in Malolos City, Bulacan. Internal Revenue Commissioner Charlito Martin R. Mendoza lodged the complaints before the Department of Justice (DOJ) last Tuesday, accusing Wawao Builders of tax evasion and failure to supply correct and accurate information in its filing of income and value-added tax (VAT) returns for the first and second quarters of 2024. According to the BIR, records indicated that the company was awarded a government contract in January 2024, to construct a riverbank protection structure in Barangay Caingin, Malolos City, Bulacan, with a contract amount of P77.20 million. Wawao Builders subsequently collected a total of P72.37 million, net of withholding taxes, in three tranches from March to April 2025. However, a review by the Commission on Audit and the BIR’s own physical verification revealed that no riverbank protection structure had

been constructed at the project site, despite reports indicating 100-percent completion. Based on these findings, the BIR disallowed the claimed deductions and input VAT. “This case reflects the BIR’s active participation in the President’s anticorruption crusade,” Mendoza said. “While other agencies address the irregularities in project implementation, we at the BIR are doing our part by filing criminal complaints against those who misuse public funds and evade their tax obligations through these ghost projects.” He warned that the BIR is also investigating other flood control project contractors whose names have surfaced in the government’s anticorruption probe. “We will continue to investigate and file cases against these contractors to protect public funds, strengthen accountability in public spending, and uphold our tax code,” the BIR chief said. Following the latest filing, the BIR has now lodged a total of 13 criminal complaints linked to the anomalous flood control projects, with estimated total potential tax liabilities of P8.92 billion under investigation. Reine Juvierre S. Alberto

Singapore’s DBS lays groundwork for risk transfers

BS Group Holdings Ltd. is weighing a foray into the market for significant risk transfers as lenders increasingly turn to such deals as a way to drive growth and absorb shocks. Southeast Asia’s largest bank held preliminary talks with funds investing in SRTs, according to people familiar with the matter. Preparations are at early stages and specific transactions haven’t been discussed, said the people, who didn’t want to be identified because the matter is private. Banks use significant risk transfers as a way to insure loans against default. The transactions, which are often structured as credit-linked notes, allow lenders to boost their solvency ratios and reduce their reliance on less shareholder-friendly options like issuing new equity or cutting dividends. They also increase their leeway for new lending, acquisitions or shareholder payouts. A representative for DBS declined to comment. Acquisitions have been part of DBS’ growth strategy. The lender is looking to buy up to 30 percent of Alliance Bank Malaysia Bhd. Previously, it purchased Citigroup Inc.’s consumer banking business in Taiwan in 2023 and increased its minority stake in China’s Shenzhen Rural Commercial Bank last year. DBS is considering an SRT transaction after Standard Chartered carried out a similar deal tied to $1.5 billion of trade finance loans last year, which allowed the bank to claim capital relief for its Singapore subsidiary. The significant transfer market is set to double

SIGNAGE atop the DBS Group Holdings Ltd. headquarters building in Singapore, on February 10, 2025. PHOTOGRAPHER: SUHAIMI ABDULLAH/BLOOMBERG

over the next five years, according to Man Group estimates. While most of these deals are issued by banks in Europe and North America, lenders in other regions are also eying the instruments. Sumitomo Mitsui Banking Corp.’s Asia Pacific

arm has completed its first $3.2 billion synthetic risk transfer deal with Blackstone Inc., Stonepeak Partners and Clifford Capital last year. First Abu Dhabi Bank PJSC and Abu Dhabi Commercial Bank PJSC are also considering debut SRTs. Bloomberg

Relationships

Friday, January 9, 2026 • Editor: Gerard S. Ramos

BusinessMirror

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

Surviving Christmas: The little moments matter most PHOTO BY PURE JULIA ON UNSPLASH

TODAY’S HOROSCOPE By Eugenia Last

CELEBRITIES BORN ON THIS DAY:

Nina Dobrev, 37; Kate Middleton, 44; Dave Matthews, 59; Jimmy Page, 82.

HAPPY BIRTHDAY: Claim your position or path before someone else steps in and takes over. Trust your instincts, and take the initiative to revitalize your game plan to ensure you fulfill your desires. You have plenty to look forward to if you are ready to act. Learning, traveling and communicating are features that will lead to personal satisfaction. Take the plunge and be the one to make things happen. Your numbers are 6, 13, 19, 26, 32, 37, 44.

ARIES (March 21-April 19): Put your energy where

it counts. Lend a helping hand, and volunteer your time and skills, but don’t go overboard. You’ll tend to overspend, overreact and promise more than you can deliver. Take a step back, assess each situation you encounter and reflect before you make a choice that will impact your life. Avoid hasty decisions. ★★★

TAURUS (April 20-May 20): Embrace change instead of running from it. You stand to gain insight and opportunities that you won’t want to miss. Apply your knowledge and experience to whatever comes your way, and you’ll become the go-to person in your circle. Handson help will impress someone who can aid you in making your dreams come true. Romance is favored. ★★★

ND just like that, the Christmas season is over. We ate, we gifted, we tried to attend all the parties we could, especially those that gave out raffle prizes. And, hopefully, we didn’t have to shimmy our way with laughable dances or off-tune singing just to earn those prizes. I wish the holidays and the new year have been equally kind to everyone, especially since we all had to contend with a challenging 2025. We raged at the government, we shook our fists at the corrupt, while at the same time, we had to live with the financial constraints Zaldy Co and company were not burdened with. (Of course, one Cabinet Secretary said we were still earning enough that we could have a P500-Noche Buena.) As I went around the metro via taxi cabs or cars hailed through transport navigation vehicle system, and ran to the supermarket or bought items I needed from pharmacies and other merchants, I spoke with a number of our kababayans to find out how the holiday season went for them. Kuya Jay who ferried me and my luggage from The Podium to my home, said, “OK naman, Ma’am. Nagtrabaho ako eh [It was okay, ma’am. I had to work though],” when I asked, “Kumusta naman Pasko, Kuya [How was your Christmas]?” I then asked why he didn’t stay home for the Noche Buena, and he explained in Filipino, “I had to. There are so many bills to pay, like the loan to buy this car.” He quickly added that besides, there were lots of passengers who had places to go. “Sayang din, ma’am,” meaning that it was additional income that shouldn’t go to waste. But he said that he managed to get home sometime 2 am on December 25 and still caught the tailend of their family’s Christmas Eve feast. I told him that was a welcome development. (The rest of the ride, we conversed about how driving his car was at least honest work, compared to what some politicians or government officials did. Of course, the discussion revolved around the ghost flood-control projects and the recent controversies surrounding the death of a key government executive possibly involved in the ghastly deeds.) Prior to that, I had also spoken with the mall’s elevator operator, who told me it was good to be home during Christmas as the mall closed early. “Ayos naman, Ma’am. Maaga ako nakauwi. Basta kasama ang pamilya, masaya. [It was alright, Ma’am. I was able to get home early. As long as the family was together, we were happy],” she said, a sentiment which pinched my heart. After all, what’s Christmas without all family members present? As she said it, I started missing my Mama again, who so loved Christmas and was like a child when she started opening our gifts to her. She would light up and be so effusive in her praise to the gift-giver if the present was an item she particularly liked. (It was actually quite easy to give Mama gifts. There were only two things she loved, aside from eating well, shoes and bags. Some family member would try to change things up, of course, and give her a bottle of perfume. Let me just say, to this day, I still

GEMINI (May 21-June 20): Social events will touch

you emotionally. The conversations that engage you will reflect how you handle money, health and contractual matters. A shift in mindset will lead to an unexpected opportunity. Look at the big picture, and adjust your habits to adopt a routine that helps you reach your goal. Keep an open mind and a closed wallet. ★★★★★

CANCER (June 21-July 22): Join forces with like-

minded people, and you’ll expand your interests and friendships. A partnership will help you achieve your goal and position you for a long-overdue lifestyle change. Holding on to something you no longer need or use will hold you back. Give your dreams a chance to become a reality. Emotional ties will mislead you. ★★

LEO (July 23-Aug. 22): Laziness and emotional manipulation will lead to trouble. Learn something new, apply your skills and make a difference. Opportunity requires input. A wait-and-see approach will leave you behind when you want to get ahead. Less talk and more action will be your ticket forward. If you want to impress someone, follow through and do your part. ★★★★

VIRGO (Aug. 23-Sept. 22): Explore new interests,

and you’ll discover people who can offer insight into how you can use your skills to make a difference. Social events will change how you think and feel about travel, learning and exploring different lifestyles. Don’t be afraid to step into the limelight. Personal growth, selfimprovement and love are favored. ★★★

own a few of her unopened bottles of perfume, which I took after she passed away.) Anyway, now back home, I went to the supermarket a few days ago to pick up a few basic items for my first grocery shopping in the new year. As I stood at the checkout counter, I asked the same “How-was-your-Christmas” question to the cashier. “Tulog, Ma’am [I was asleep, Ma’am]!” She said this, heaving a big sigh, as if relieved that she had one whole day to rest. Supermarket cashiers, like sales clerks at most department stores, are on their feet during their shifts. They never sit down, and are often cheered up by the casual exchange of gossip among other sales clerks, or, in the case of the cashiers, the occasional flirting of the male baggers. (“Ang bango mo ngayon,” I remember overhearing one male bagger say to the cashier one time. Or, “Kumain ka na?” Hahaha. Hay.) The cashier, Phem (short for “Phoemela”—yes, I asked!), said she had to go to work the next day though, the 25th, because the supermarket was back to its regular operating hours, which closed at 10 pm. But she did say that this was a better deal than not having a job at all. This prompted me to agree, and to ask if she had finished college. She said that she was indeed a college graduate, which was apparently now required for cashiers. (I used to think they only had to reach the second year in college.) I said that it was better these days to take vocational courses because non-office jobs were very much in demand, but I congratulated her just the same for finishing a degree. By this time, the bagger—I wasn’t able to get kuya’s name though—said he was going back to school in the next school year. I repeated the same spiel, and said he

should consider enrolling in Tesda courses. And kuya added it was something he would seriously ponder. (As I had finished up at the cashier, I wasn’t able to linger because I would have informed Kuya why I felt strongly about vocational courses. For instance, an airconditioner technician can charge at least P1,500 per job, which usually doesn’t take more than three hours to complete. I know this because I just had my airconditioner cleaned and cooler-injected. Even with just three jobs a day, the technician can earn P99,000, gross, in a month. Not everyone is cut out to attend college, and don’t have the means despite the fact that there are free state colleges.) Meanwhile, my suki at our neighborhood talipapa from whom I buy my bananas, vegetables, and delicious oily red salted eggs, told me he closed at his usual time, 9 pm, on the 24th, but opened after lunch the next day. “Nakapahinga din [I was able to rest],” he said. Kuya Narding said he kept to his regular operating hours on Christmas Eve because he knew there were families who still needed items, like eggs, or fruits, or some important ingredient for their Noche Buena. “Eh may humahabol pa nga ng alas-otso [There were still a few who were buying from us at 8 pm],” he said. The point of this post-Christmas column is that many Filipinos have a “para-paraan” mentality. We do everything we can to survive. We are resourceful because we have to, or our families won’t eat three meals a day. Diskarte is the name of the game to get over life’s humps. I pray for a kinder 2026 for everyone. For less stress and struggle for our kababayans. I wish we all have financial security and wellness. And for more moments of joy with family and friends.

LIBRA (Sept. 23-Oct. 22): Question your motives before you proceed. Your emotional attachment to someone or something will cost you if you aren’t honest with yourself and others. It’s up to you to do what’s right if you want to have peace of mind. Too much of anything will exhaust you. Discipline is necessary when temptation takes over. ★★★

SCORPIO (Oct. 23-Nov. 21): Participate, ask

questions and solve problems. The more you immerse yourself in the heart of the matter, the better the outcome. Change is within reach and will help you establish opportunities that excite you. Travel, learning and communication are favored, and connecting with people who share your ideals will pave the way forward. ★★★

SAGITTARIUS (Nov. 22-Dec. 21): Tie up loose ends and relax. Spend time at home or with someone you love. Rethink your current financial and health situations and the adjustments you can implement to make your life better. Living a lie or taking on responsibilities that don’t belong to you requires some self-reflection. ★★★★

CAPRICORN (Dec. 22-Jan. 19): Mixed emotions will confuse you. Be direct if you want to get your message across. Concentrate on what you want to accomplish, and look for an outlet for something you want to develop. Using your skills to your advantage will also lead to extra cash. ★★

AQUARIUS (Jan. 20-Feb. 18): Take time to reflect on and reform how you want to deal with finances, health and domestic matters moving forward. Check out what’s available to you through government agencies and services. Opportunities come to those who ask. An interesting position is worth applying for. ★★★★★

PISCES (Feb. 19-March 20): Change begins with

you. Take the initiative, and use your connections and skills to deal with matters that concern you. The people you meet and the information you gather will spark your imagination and offer insight into how you want to spend your time. Be part of the solution, and personal growth and satisfaction will be yours. ★★★

BIRTHDAY BABY:

You are sensitive, thoughtful and accommodating. You are imaginative and appealing.

‘ﬁnal laps’ BY JOE MARQUEZ

The Universal Crossword • Edited by David Steinberg/Anna Gundlach/Jared Goudsmit/Andrian Johnson/Taylor Johnson ACROSS 1 ___ golf 5 Cable car 9 Instruments with many strings 14 Skin condition 15 Helper 16 NBA analyst Shaquille 17 Cinematic effect meant to disorient the viewer 19 Not glossy 20 Grp. with its own alphabet 21 Took an Uber 23 One pushup, e.g. 24 Element of the Gatorade logo 28 More insolent 30 ___ and the Last Dragon 31 Intentions 32 Try to win over 34 Hajj destination 38 Sanjay Gupta’s channel 39 Certain football plays, and a theme hint 42 Resistance unit 43 Support for a beach house 45 Chinese life force

46 Deli sandwich 47 Ishmael’s captain 50 “Keep going!” 52 Additional fee 56 It might be served a la mode 57 “How horrible!” 58 Slippery swimmers 60 “Previously on...” segment 62 Group often threatened by aliens in sci-fi 66 Garlicky sauce 67 Second word in many fairy tales 68 Author list abbr. 69 Skater Harding 70 Flat fee? 71 Moore of The Substance DOWN 1 June honoree 2 Picture on a desktop 3 Jason Sudeikis and Amy Poehler, e.g. 4 2024 NBA champions 5 Spinning toon, to his friends 6 ___ de Janeiro 7 Embellish

8 Personal story 9 Private places to exercise 10 Actress de Armas 11 Back in fashion 12 Dev of “Lion” 13 Crashed on a couch 18 He’s “smarter than the average bear” 22 Sample in a forensics lab 25 Chopped down 26 Stepped (on) 27 Sweetie 28 Holders of squid ink 29 “___ gonna happen!” 33 Monster in World of Warcraft 35 Have a connection, statistically 36 Nation in Central Africa 37 They can give you a boost at a concert! 39 Nation on the Horn of Africa 40 “That’s not good...” 41 Singer Simone 44 Airplane bathroom, in slang 46 Placed money on the line 48 German exclamation 49 1959 religious epic featuring chariots

51 Bird whose first letter is silent 52 Jack who ate no fat 53 “Old MacDonald” vowels 54 Info gathered by scouts 55 Two-door car 59 Swindler’s scheme 61 Gymnastics great Raisman 63 Day before Tue. 64 Flik in A Bug’s Life, e.g. 65 Director Roth Solution to today’s puzzle:

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

Show BusinessMirror

Editor: Gerard S. Ramos • Friday, January 9, 2026

Hope and death on Christmas ‘THE LEGEND OF HEI II’ OPENS IN PHL CINEMAS ON JANUARY 21

THE Legend of Hei II continues the story of the first film, following Hei on his quest for self-discovery in a world where humans and spirits’ harmony is being threatened. As Hei grows stronger through his training and journey, he takes on responsibilities that come with his powers, questioning where he belongs and what it means to protect both the human and spirit worlds. Because of the new threats emerging and old conflicts recurring, Hei goes through challenges that test his beliefs and his friendships with those he trusts the most. How will Hei struggle and grow through these relationships? Introducing new and familiar faces, are they friends or foes? Following the fan-favorite prequel, The Legend of Hei II currently has a 98 percent rating on Rotten Tomatoes’ PopcornMeter. Honoring the emotional depth and animation work shown in the first film, this sequel delivers a cinematic treat that every viewer would love. Many have described the film as a “triumphant continuation” and a “visually stunning achievement in modern animation,” highlighting its ability to balance action and heart. More than just a visual spectacle, The Legend of Hei II also tells a deeper story about the characters we love, especially Hei, and has received acclaim by critics and fans alike as a powerful evolution of the franchise and a must-watch animated event. The reactions and reviews praise the film’s artistry and acknowledge its message about growth, identity and connection, describing how the sequel sets the bar higher when it introduces new elements that feel fresh, exciting, and true to the spirit of the first one. Encore Films Philippines brings to local cinemas The Legend of Hei II, which opens on January 21, 2026, distributed by Warner Bros.

LSGH’s Kundirana presents maiden concert 2026 THE prestigious and award-winning music ministry of La Salle Green Hills (LSGH), Kundirana, with its newest generation of young artists, promises an evening of inspiring music and dynamic choreography. For over five decades, Kundirana has been known not only for its musical excellence, but likewise for its mission of faith, service, and compassionate outreach. Each year, the group brings together young talents whose promise is realized through an intensive, multistage formation process. This profoundly develops their character, solidifies a deeper personal purpose, and inspires a lasting commitment to selfless service. They are called to minister through music—to uplift others and enrich communities in the true spirit of Lasallian compassion. Dubbed Next in Line, the 2026 batch now steps into the spotlight with their maiden concert. It is a vibrant and heartfelt showcase of compelling performances with fresh arrangements, complete with the signature Kundirana spirit, which has touched generations across the country and beyond through the years. Next in Line marks the beginning of their journey of advocacy, ministry and outreach. Performances are scheduled for Friday, January 9, and Saturday, January 10, 2026, with shows at 7 pm. It will be held at the Br. Donato Center for Performing Arts, La Salle Green Hills, 343 Ortigas Avenue, Mandaluyong City. Tickets are available at P150. For reservations, e-mail is.principal@lsgh.edu.ph. More information is available via tinyurl. com/327pwdj5.

OODBYE June was not the kind of cinema one cuddled cozily with loved ones on Christmas. The film is—for heaven’s sake—about the great CA. Cancer. The unmentionable. Immediately in my heart’s peripheral range, I thought of those who should not be viewing this film. I ticked off the list of those I wish to protect from the impact of a movie. The point being that people are perhaps so weak to withstand being reminded of tragedy. And yet, there I was doing what was the best in sadness—confront all those tales about loss and dying. In the end, when all else is going and gone, making great memories is all that is left. This is where the human heart excels. The story begins a few weeks before Christmas. June, the matriarch of the family, is rushed to a hospital after she was seen by her son, Connor, down on the floor. June has cancer, which has already spread through her body. It was not the only affliction that affects the family. There were other conflicts that mar the entire Cheshire family. Connor, for one, has remained dependent upon his family even as June’s husband, Bernie, has opted to be distant and almost uncaring about June. There are three daughters: Helen is into some sort of spiritual exercises; Julia and Molly, while living close to each other, have not spoken to each other for a long time. Long-buried recriminations and guilt are not only the bed of personal psychosis here; they might as well be the template for ready-made responses to behavior. Will there ever be a light in this dreadful tunnel? What hope is there in this tale? Or, what can be learned about a narrative that, whether we like it or not, is going to end in death? Or maybe the dreadful question is, do we learn anything from death? It must be said at the outset that the multihyphennate Kate Winslet must really have something in her spirit to face up to the theme of death in this her debut work as a filmmaker. How she navigated the theme of guilt and loss without falling into the maudlin is nothing short of amazing. We are used to seeing the actress mostly in showy or grand portrayals. But Winslet’s Julia is the quotidian daughter, one who disappears in the background, the figure who’d rather vanish than be responsible. As a counterpoint to Julia is Andrea Riseborough as Molly. She is all anger and childhood bitterness. Somewhere in the middle of all this, Toni Colette creates just enough of this bohemian character, a daughter who challenges acceptance and inclusion. Then it happens—those snippets of gems and enchantments, which make cinematic moments unforgettable. There is the sharing of a Snickers chocolate bar between Julia and Molly, the bittersweet reconciliation so late and yet so tender. Then there is the difficult-to-love old father drunk in a karaoke

bar singing the old Ray Charles love ditty “Georgia on My Mind”. I believe that was brave of Winslet to pull through. Timothy Spall as Bernie has one of the least sympathetic characters in the film. When finally we see him for what he is—a vulnerable, broken old man—our heart goes all out for him. He is very much like his son, Connor, as played by Johnny Flynn, who hides his personal wounds with his quiet rage. There is another image of enchantment in the film. He comes in the person actor Fisayo Akinade, who is fortunately given the name Angeli. He is the metaphorical Christmas Angel. At the core of this Christmas story is June. As the person with terminal disease, Helen Mirren is our magnificent storyteller. She believes in the power of love and when she gazes at her beloved winter scene, we know the seasons will be be back endless like hope, like all Christmases. People perhaps will complain at the the extended Christmas pageantry that the children and grandchildren of the Cheshires staged for their dear grandmother. But when memories are rekindled for the last time, don’t we not stretch the time and space if only we can gaze longer at the sky? Directed by Kate Winslet, Goodbye June is written by Joe Anders. The film is produced by Kate Winslet and Kate Solomon. Cinematography by Alwin Kuchler; edited by Lucia Zucchetti. It is distributed by and streaming on Netflix.

WARNER BROS REJECTS PARAMOUNT TAKEOVER AGAIN AND TELLS SHAREHOLDERS TO STICK WITH NETFLIX BID

NEW YORK—Warner Bros. again rejected a takeover bid from Paramount and told shareholders on Wednesday to stick with a rival offer from Netflix. Warner’s leadership has repeatedly rebuffed Skydance-owned Paramount’s overtures—and urged shareholders just weeks ago to back the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has made efforts to sweeten its $77.9 billion hostile offer for the entire company. Warner Bros. Discovery said on Wednesday that its board determined Paramount’s offer is not in the best interests of the company or its shareholders. It again recommended shareholders support the Netflix deal. “Paramount’s offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed,” Warner Bros. Discovery chairman Samuel Di Piazza Jr. said in a statement. In contrast, he added, the company’s agreement with Netflix “will offer superior value at greater levels of certainty.” Paramount did not immediately respond to a request for comment. The company’s hostile bid is still on the table. Warner shareholders currently have until January 21 to “tender” their shares. AP

‘One Battle After Another’ dominates SAG’s Actor Awards with 7 nominations ONE Battle After Another dominated nominations to the Actor Awards on Wednesday, with Paul Thomas Anderson’s ragtag revolutionary saga landing a record seven nods in the annual SAG-AFTRA honors. In the 31 years of the Actor Awards, formerly known as the Screen Actors Guild Awards, no movie has received more than five nominations. Along with a nod for the guild’s top award, best ensemble, the cast of One Battle After Another was showered with nominations for Leonardo DiCaprio, Chase Infiniti, Teyana Taylor, Sean Penn, Benicio Del Toro and its stunt performers. The four other nominees for best ensemble are: Sinners, Hamnet, Marty Supreme and Frankenstein. Usually, to win best picture at the Oscars, a movie needs a SAG ensemble nomination. Only four films in the last three decades have managed the feat without that. Among the films that missed the cut this year were Sentimental Value, Wicked: For Good and Train Dreams. Sinners had an especially good result. Along with a best male actor nod for Michael B. Jordan, supporting actors Miles Caton and Wunmi Mosaku were both nominated. It collected five nominations in total. In television, Apple’s The Studio, HBO’s White Lotus and Netflix’s Adolescence lead the nominees. Historically, the Actor Awards have been one of the strongest Oscar indicators. Actors make up the largest branch of the film academy, and, in the past, individual SAG nominees have overlapped with the

Oscar field at a rate of roughly four out of five. The Actor Awards are presented by the Screen Actors Guild-American Federation of Television and Radio Artists. That means the nominees on Wednesday may closely resemble those headed to the Oscars. They are: Best male actor: DiCaprio, Timothée Chalamet (Marty Supreme), Michael B. Jordan (Sinners), Ethan Hawke (Blue Moon) and Jesse Plemons (Bugonia). The only surprise of that group was Plemons. The favorite remains the 30-year-old Chalamet who won the same award last year for A Complete Unknown and vowed to pursue “greatness” in his acceptance speech. Best female actor: Infiniti, Jessie Buckley (Hamnet), Rose Byrne (If I Had Legs I’d Kick You), Kate Hudson (Song Sung Blue) and Emma Stone (Bugonia). In the supporting male actor category, the nominees are: Del Toro, Penn, Caton, Jacob Elordi (Frankenstein) and Paul Mescal (Hamnet). The nominees for best supporting female actor are: Taylor, Mosaku, Ariana Grande (Wicked: For Good), Amy Madigan (Weapons) and Odessa A’zion (Marty Supreme). The biggest surprise in that category was the 25-year-old A’zion. Snubbed altogether was Joachim Trier’s acclaimed Norwegian drama Sentimental Value. Both Renate Reinsve, in lead female actor, and Stellan Skarsgård, for supporting male actor, have been viewed as shooins. Many analysts have even considered Skarsgård the favorite to win. With more than 122,000 voting

members, the actors guild has tended to skew more populist and the guild often shies away from nonEnglish language nominees. Membership in the academy, meanwhile, has grown increasingly international. Along with Sentimental Value, movies like the Iranian revenge drama It Was Just an Accident and the Brazilian political thriller The Secret Agent should have greater success come Oscar nominations on January 22. There have been some prominent differences between SAG and the Oscars. Last year, Chalamet won best male actor but lost to Adrien Brody (The Brutalist) at the Oscars. The papal drama Conclave took best ensemble, but Sean Baker’s Anora won best picture at the Academy Awards. On the television side, the leader in comedy was The Studio, which scored nods for its ensemble, Seth Rogen, Kathryn Hahn, Catherine O’Hara and Ike Barinholtz. The top drama was The White Lotus, which collected four nominations including best ensemble and nods for Parker Posey, Walton Goggins and Aimee Lee Wood. The limited series Adolescence also landed four nominations, for Owen Cooper, Stephen Graham, Erin Doherty and Christine Tremarco. The Actor Awards will take place on Sunday, March 1, at the Shrine Auditorium in Los Angeles. Netflix will stream the ceremony live. Harrison Ford will be presented with the guild’s life achievement award. AP

LEONARDO DiCAPRIO is nominated for best actor at the upcoming Actor Awards for One Battle After Another.

B6 Friday, January 9, 2026

Figaro Establishes Innovation Subsidiary to Expand Food Manufacturing Capability

AweSM Cebu 2026 Brings Sinulog Spectacle to the Max Across SM Malls F

inulog season kicks into high gear as “AweSM Cebu 2026” takes over SM City Cebu, SM Seaside, and SM J Mall, delivering curated experiences that grow in energy, scale, and excitement as the festivities unfold. Designed for families, foodies, creatives, and fans, the three malls’ celebration transform everyday mall moments into a city-wide Sinulog gala. At SM City Cebu, the energy reaches full, maxed-out festival mode, where shopping, spectacle, and star power take center stage. Festival enthusiasts can explore Sinulogtopia with Islands Souvenirs until January 28, 2026 at the Lower Ground of the Main Mall, while the immersive GLOW CITY: Sinulog Centerpiece at the North Wing Atrium sets the visual tone of the festivities from until January 21. Catch the electric moves of the AweSM Glow Dance Competition on January 17 at the North Wing, and crowd excitement peaks with Coco Martin Live on January 17 at the Lower Ground of the Main Mall and the Kapuso Stars Mall Show on January 18 at the Main Mall. Meanwhile, SM Seaside City Cebu anchors anticipation through meaningful and distinctly Cebuano experiences. The Sto. Niño Exhibit at the Cube Wing Atrium provides the spiritual heart of Sinulog until January 28, while shoppers can check-out the homegrown flavors at Nakakalokal Goes to SM Seaside from

January 16 to 18 at the Mountain Wing Atrium, and the crowd-favorite AweSM Lechon Fest from January 12 to 18 at the Seaview Wing Atrium. Maxing out the starstudded energy, the Sinulog Kapamilya Caravan rolls into SM Seaside’s concert grounds on January 17, while fur parents also get their moment at AweSM Petstival on January 24 at the Mountain Wing Atrium. At SM J Mall, the celebration opens on a reflective and artistic note. Vested in Devotion: Cebu’s Fashion in Faith exhibit runs from until January 31 at The Atrium, Upper Ground, followed by Vested Devotion: Rhythms of Cebu on January 18, and culminating in Vested in Devotion: Runway Edition on January 31, highlighting the movement, music, and meaning behind Cebu’s devotion.

Creative tribes can enjoy hands-on experiences through AweSM Mask Painting on January 10 at Kyureto Art Space, Second Level, while shoppers ease into the season with the AweSM Cebu Sale 2026 from January 12 to 18 at participating stores across SM J Mall, SM City Cebu, and SM Seaside. The Sinulog spectacle reaches its ultimate high on January 18, as SM City Cebu’s ILLUMINIGHT: Sinulog Drone & Pyro Show takes centerstage fronting the North Wing expansion building at 7 pm, and SM Seaside City Cebu’s AweSM Skypark Grand Pyro Display light up the Cebu skyline at 9 pm, delivering a breathtaking, city-wide finale built on maximum experiences that celebrate devotion, creativity, and festivity at its grandest.

Experience refined city living at Acropolis Loyola

Acropolis Loyola welcomes residents to a high-end community strategically located near prominent cities and major landmarks.

EADING Philippine property developer Sta. Lucia Land Inc. welcomes property buyers and investors to discover the pleasures of metro living in one of its flagship projects in Quezon City, the Acropolis Loyola. Located along Katipunan Avenue Extension, Acropolis Loyola is a 40-hectare high-end residential development that provides much accessibility to prospect residents. It is situated at just the ideal point where nearby cities such as Marikina and Quezon City even including Commonwealth Avenue can be accessed with much ease. In fact, the main highlight of the property lies in its strategic location, which provides accessibility to key commercial areas, commercial establishments, community hubs, and transport terminals of nearby cities, as well as the ongoing construction of the Manila Subway. With the upcoming subway development, investors at Acropolis Loyola are expected to maximize opportunities, as improved connectivity is anticipated to ease traffic conditions and significantly reduce travel time to key destinations and landmarks across Manila.

From Acropolis Loyola, one can easily get to some of the country’s prominent universities such as the Ateneo De Manila University, University of the Philippines Diliman, Mirriam College and St. Scholastica Academy of Marikina. For daily essentials, families and residents can easily reached SM City Marikina, Ayala Malls Feliz and UP Town Center. Several hospitals and clinics such as Diliman Doctors Hospital and Marikina Valley Medical Center are also at a close proximity from Acropolis Loyola. The development is surrounded by lush greenery and stunning landscape views, allowing residents to achieve a perfect balance between convenient city living and natureinspired comfort. At its core, the residential community is designed to offer a lifestyle where convenience meets modern charm, making it an ideal choice for start-up families, working individuals, and those who appreciate the vibrancy of metropolitan living. Investors may choose from a range of exclusive and limited residential or commercial lots.

When it comes to its amenities, Acropolis Loyola is developed with several community facilities, including two multipurpose clubhouses, one for residents of Marikina and one for residents of Quezon City. One of the clubhouses in Acropolis Loyola, specifically at its Marikina side, is now fully operational and is open to receive guests who are interested to utilize its amenities including its swimming pool which can be rented by guests, basketball court and sports facilities such as a pickleball and badminton area, a dance studio, a function hall which can host events for up to 100 attendees and a spacious grand ballroom which can accommodate up to 400 persons. The ballroom also features a large kitchen where caterers can prepare during events. These are distinct features which are different from its clubhouse at the Quezon City side. For its Quezon City side clubhouse, on the other hand, will feature a tennis court, two pickleball courts and a free form swimming pool. Construction for this clubhouse will begin this year. Another exciting update at Acropolis Loyola is the opening of Dote Coffee Bar + Roastery. The café is now welcoming customers to dine, lounge, and enjoy its offerings. Located within the clubhouse, it serves a wide selection of hot and cold coffee drinks, along with non-coffee options, making it a warm and inviting spot for everyone. Dote Coffee Bar + Roastery can also be rented for events and gatherings. It should also be noted that as of this writing, Acropolis Loyola is now ready for housing, allowing residents and lot owners to start the construction process on their properties and move in once completed. Property investors and buyers can start their investment towards a better future at Acropolis Loyola where they can also discover their own oasis in the metropolis. For inquiries, please contact Sta. Lucia Marketing via landline at (02) 83700807.

Vista Land Scores Major Recognitions at DOT Property Southeast Asia Awards 2025

HE DOT Property Southeast Asia Awards 2025 brought together projects, developers, and industry leaders across the region to celebrate excellence in design, innovation, sustainability, and community impact. Camella, whose strength lies in its understanding of the culture defining Filipino communities, was named Best Mid-Range Housing Developer. For many kababayans, a forever home symbolizes stability, security, and a story shared through the years. Guided by these sentiments, Camella has built its developments on principles that uphold these ideals, reinforced by its

core values of innovation and progress. Vista Residences received top recognition as Best New Launch Condominium Development for Crosswalk Tower. This recognition affirms Vista Residences’ strong position in the condominium sector. Crosswalk Tower, the awardee this year, continues the commitment of creating high-quality high-rise residences that balance convenience, security, and longterm investment potential. To know more about Vista Land developments nationwide. Visit www.vistaland.com.ph and follow @ CamellaOfficial for news and offerings.

Vista Land scores a major victory at the DOT Property Southeast Asia Awards 2025 with Camella hailed as Best Mid Range Housing Developer. Executives led by COO Mary Lee S. Sadiasa and Group Heads Engr. Ric A. Pallesco and Ailene Sarmiento accepted the award on behalf of Camella. The Crosswalk Tower by Vista Residences was also recognized as Best New Launch Condominium Development with Group Head Engr. Michael R. Palisoc receiving the award.

IGARO Culinary Group, a publicly listed food and beverage company, continues to strengthen its long-term growth strategy with the establishment and expansion of Figaro Innovation and Development Inc. (FIDI), a wholly owned subsidiary created to broaden the Group’s food product offerings, enhance manufacturing capabilities, and prepare for future export opportunities. This strategic direction was underscored by the recent ceremonial signing of a Supplemental Agreement between FIDI and the Philippine Economic Zone Authority (PEZA), held in Pasay City. The agreement reaffirms FIDI’s status as a PEZAregistered export enterprise, supporting its operations at the Laguna Technopark – Special Economic Zone and enabling the manufacturing of products such as Anghel Kape and other food innovations under the Figaro Culinary Group portfolio. FIDI was established by Figaro Culinary Group to serve as its dedicated innovation and manufacturing arm, allowing the Group to scale food production beyond its retail brands while building capabilities for both domestic distribution and eventual export markets. Through FIDI, the Group aims to develop new food formats, improve production efficiency, and strengthen quality standards aligned with international requirements. The Supplemental Agreement builds on FIDI’s existing PEZA Certificate of Registration, which recognizes the company’s registered activities as an export

In the photo are, from left, Jose Petronio Español, President / Chief Financial Officer of FIDI; Brian Gregory Liu, Chairman of Figaro Innovation and Development Inc.; Tereso O. Panga, Director General of PEZA and Joy Anidelle Alguso, Deputy Director General of PEZA enterprise engaged in toll manufacturing of coffee mixes and food products. Present at the signing were Brian Gregory Liu, Chairman of Figaro Innovation and Development Inc.; Tereso O. Panga, Director General of PEZA; Joy Anidelle Alguso, Deputy Director General of PEZA; and Jose Petronio Español, Chief Financial Officer of FIDI. “This agreement supports Figaro Culinary Group’s broader vision of expanding its food platforms beyond retail, strengthening manufacturing, and positioning our brands for future growth,” said Español. Panga likewise emphasized the importance of companies like FIDI in driving innovation, development, and inclusive growth within economic zones.

The search is over! Here are STI’s new Talents that lit up the new stage for this year’s STI Talent Search.

STI Talent Search 2025 Takes On New Stage with New Class of Talents

TI College celebrated the grand finale of its annual STI Talent Search lrecently, drawing exceptional participants from different campuses and clusters nationwide. STIers, teachers, and guests from its 63 campuses nationwide all came to witness and cheer on their top student performers, this time, at a brandnew stage in Pampanga’s latest attraction, Pradera Islands Theme Park. The national celebration of talents came alive with excitement and anticipation as the park officially opened its doors to STIers ready to enjoy and determine this year’s best across the four major categories: Battle of the Bands, Singing Idol, Hataw Sayaw, and the crowning of Mr. and Ms. STI. “The STI Talent Search is more than a contest. It is also a platform that unites our students, celebrates their talents, and reinforces STI’s 42-year commitment to holistic, real-life education,” Karen Tabije, VP for Academics said. The Battle of the Bands immediately set the energy for a rock and roll atmosphere where out of eight groups who vied for the title, Magna Carta from STI College Lipa emerged as the new Champions with their powerful rock rendition of ‘Nagloko Ka Rin Naman’ by Humprey Lofranco. “Reaching the Nationals for the first time is already a big achievement for us. We’ve been preparing for this piece since June, and we’re happy that we got to perform it today on a bigger stage,” the band shared. “It is always a great honor for student musicians like us to get a chance to share our talent with people through STI competitions like this.” From the bands, the spotlight shifted to the solo artists who were ready to sing their hearts out. Marc Andrei Chavez of STI Tanauan was hailed as the Singing Idol Champion, pouring his heartfelt tribute to the Philippines through his performance of the highly patriotic rap song “Mahal Kong Pilipinas” by artist JMara. Chavez expressed his gratitude to STI for hosting the Talent Search, emphasizing that the institution has become a foundation for many in their talent discovery and development. He stressed the importance of celebrating music, arts, and culture, and giving more outlets for students to shine holistically. As he put it simply, “It all starts at school.” Continuing the hype, students cheered once more for the Hataw Sayaw category, showcasing the diverse

styles and original choreography of the competing dance groups. This year’s best was awarded to STI College Fairview’s Beyond the Box team, winning over the judges composed of both locally and internationally renowned dancers with their unique concept and clean execution. “A lot of people had doubts about our dance style not being enough for Hataw Sayaw, but still, we took it as an inspiration to live up to our name,” Beyond the Box team leader, Adrienne Naagas, said. He explained that such competitions fuels their passion and dedication to dance and what makes them more active at school on top of academics. For the highlight of the night, the muchanticipated Mr. and Ms. STI 2025 search featured a stunning lineup of 36 pageant hopefuls, each embodying confidence and pride of their respective campuses in front of some of the big names in the entertainment and pageant industry. On talks of passing the crown, Ms. STI Philippines 2024 Chady Mae E. Carenan of STI College Balayan expressed that she feels happy and sad at the same time to be ending her reign. “I wish that they not only carry but actively apply STI’s core values and continue taking pride in it as they step into the real world,” she said. Finally, the newly crowned Mr. and Ms. STI 2025! Dustin Laxamana (STI College Alaminos) and Jehn Rossane Marbella (STI College San Fernando) expressed their gratitude for the overwhelming support from their fellow STIers throughout their pageant journey. The evening concluded with the crowning of Dustin Laxamana from STI College Alaminos and Jehn Rossane Marbella of STI College San Fernando as the new Mr. and Ms. STI Philippines 2025. Among the finalists, the pair stood out by delivering exceptional performance on the runway and compelling answers during the Q&A portion. This year’s STI Talent Search once again proved the kind of dedication the institution has in developing well-rounded students that excel in different areas beyond individual achievement. This inspiring excellence within the community is a testament to STI’s real-life education, shaping the youth with experiences that make them strive to be more. For details, visit https://www.sti.edu/ to see what STI has to offer.

Motoring BusinessMirror

Henry Ford Awards Best Motoring Section 2007, 2008, 2009, 2010 2011 Hall of Fame

Editor: Tet Andolong • www.businessmirror.com.ph

Friday, January 9, 2026 B7

HCPI CELEBRATES 35TH ANNIVERSARY WITH

HONDA FEST; PREVIEWS THE ELECTRIFIED PRELUDE H Story and photos by Randy S. Peregrino

ONDA Cars Philippines, Inc. (HCPI) ended the year 2025 with a strong note by celebrating its 35th anniversary. Dubbed “Honda Fest,” the recently concluded event was held at Festival Mall in Alabang. No less than HCPI president Rie Miyake spearheaded the presentation with a walkthrough of the latest models alongside their older counterparts, and concluded with a preview of the much-anticipated AllNew Prelude. “Time has flown by so fast, we cannot believe it has been already 35 years since Honda Cars Philippines started. We have come so far together, it seems only fitting we take a quick look back at what we have achieved. Honda Cars Philippines started in 1990. We first launched the fourth generation Honda Civic, our first entry into the Philippine auto market. From the beginning, Honda has always believed in providing mobility that

brings joy to people’s lives. In 1992, we then started local production. Since then, we were able to produce various models locally, such as the Civic, City, and BR-V,” said Miyake. In 1994, HCPI launched the Accord, followed soon after by the iconic Civic SiR towards the late 90s. In the early 2000s, the Jazz entered the market. Later on, HCPI further expanded to more segments with the Brio, Mobilio, BR-V, and HR-V. In 2017, the brand’s halo

THE upcoming electrified Honda Prelude is set to debut this year

the Prelude lots of love once it is launched next year,” Miyake added.

PRE-LOVED units of the 2000 CR-V, 1998 Civic SiR, 2001HRV, and 1993 Prelude were displayed alongside their current, electrified versions

model, the Civic Type R FK8, was launched. The introduction was so overwhelming that the initial 100 units were all spoken for within 48 hours upon the announcement of availability. These milestones shaped Honda as it stands today. “Now, we find ourselves in 2025 with this current lineup. Moving on, here is what we have achieved together this year. Our best-selling models, the BR-V sold over 6,200 units, the City over 3,600 units, and the New HR-V and CR-V over 1,100 units each,” Miyake shared. The recently concluded Honda Fest showcased the company’s past, present, and future. As a showcase of its evolution, pre-loved units of the 2000 CR-V, 1998 Civic SiR, 2001HR-V, and 1993 Prelude were displayed alongside their current, electrified versions. Moreover, on displayed were the latest Honda ICE models in HCPI’s lineup, such as the best-selling BR-V and City. Also introduced at Honda Fest was the Pro Honda engine oil. The brand aims to make things more convenient for owners by manufacturing this specifically for Honda, eliminating the need to turn to third-party alternatives.

The path toward full electrification

Eventually, more products will be introduced, such as other lubricants and chemicals. Some attendees were able to bring home their own Pro Honda engine oil as well as limited Pro Honda giveaways and merchandise. While sharing plans for the company, HCPI reiterated that, as part of enhancing the overall customer experience, it has made important evolutions to its dealer network. As previously announced, effective January 1, 2026, the Gateway Group will operate Honda Cars Makati, Cebu, Negros, Cagayan De Oro, while the Borromeo Motoring Group will manage Honda Cars Bacoor, Pasig, Mandaue, and Iloilo. Additionally, HCPI will have its own subsidiary to directly operate Honda Cars Shaw. As part of its Visayas expansion, Honda Cars Tacloban will soon be fully operational.

The upcoming electrified Prelude MEANWHILE, while Honda Fest was just a venue for the preview of the classic coupe’s electrified comeback, HCPI has reconfirmed that this will be launched in 2026.

According to Miyake, the All-New Prelude bridges the company’s legacy with elevated technologies and marks a new phase in its expanded hybrid lineup. “Now, let me talk about the highlight of today’s celebration. To show you just how happy we are to be celebrating this milestone, we are thrilled to present a very special moment—the Philippine debut of the All-New Prelude. After much speculation, we are happy to announce that this will be coming to this market in 2026. This is a new phase of our expanded hybrid lineup,” said Miyake. Miyake further explained that the stylish, fun-to-drive hybrid sport coupe will be equipped with the brand’s e:HEV full hybrid system and the S+ shift system. It is a specialty sports hybrid model in pursuit of the “ joy of driving”, which creates an entirely new and immersive experience. “We believe there is no better way to bridge our legacy and elevated technologies than with the Prelude. It is a classic made even better with its electrification, creating a nostalgic and advanced experience for the driver. We hope you will show

HONDA’S hybrid sales have almost doubled compared to 2024. HCPI has already sold a combined total of over 1,600 units of the CR-V, Civic, and the New HR-V e:HEV variants within the same period. Miyake expressed that all these achievements have prepared the company for the next chapter of Honda’s journey in the Philippines. At the Japan Mobility Show last October 2025, Honda showcased the “Honda 0 series”, composed of the Honda 0 SALOON, the Honda 0 SUV, and the Honda 0 Alpha, which is a gateway model targeted to the Asian market. “We will be bringing these models to the Philippines after the global launch to expand the possibilities of life for Filipino customers, as well as our commitment towards carbon neutrality,” Miyake revealed. Miyake further expressed the brand’s path toward full electrification. “Our e:HEV models serve as a crucial step for the Philippine market at this time. By 2026, HCPI will offer 4 hybrid models in our lineup, all equipped with our advanced driver-assist system, Honda SENSING, in alignment with our 2050 global goals of achieving a collisionfree society, having zero traffic accidents involve Honda vehicles, and carbon neutrality across our products and operations,” she disclosed. “We are so grateful for all the support you have shown us in the past 35 years, and we look forward to many more years together. Aligned with our global brand slogan, The Power of Dreams – How We Move You, we commit to bringing inspiration and the freedom and joy of mobility to our customers in the Philippines. Honda will remain your trusted mobility partner, always moving forward with you toward your dreams and aspirations. Please stay tuned for the exciting plans we have ahead,” Miyake concluded.

BYD new king of EVs; Musk first trillionaire right-wing politics, expiring US tax breaks for buyers and stiff overseas competition” that pushed sales down for a second year in a row.

Musk-Trump split

HE auto world woke up to a jarring stunner ushering in the New Year, when Tesla lost its crown to BYD as the biggest electric vehicle (EV) maker worldwide. In its January 2 report, the Associated Press (AP) said Tesla has said it delivered 1.64 million vehicles in 2025, down 9 percent from its 2024 performance. That figure was massively surpassed by BYD, which sold 2.26 units last year to easily become the world’s new king of EVs. AP attributed Tesla’s downfall to a “customer revolt over Elon Musk’s

MUSK, one of the world’s richest men if not the richest, had split with American President Donald Trump after giving jaw-dropping donations in robustly endorsing Trump’s victorious candidacy a year back. Said AP: “It’s a stunning reversal for a car company (Tesla) whose rise once seemed unstoppable as it overtook traditional automakers with far more resources and helped make Musk the world’s richest man.” BYD (Build Your Dreams) is China’s leading car brand that had the legendary financial whiz Warren Buffett as one of the original investors. I had written about BYD when it first set foot on Philippine soil years

back, with the youthful Mark Tieng at the helm of operations then. The brand has expanded vigorously, with numerous dealerships spread nationwide. “Tesla’s sales drop came despite Trump’s marketing effort early last year when he had called a press conference to praise Musk as a ‘patriot’ in front of Teslas lined up on the White House driveway, bucking a presidential precedent to not endorse private company products,” said AP.

‘Major rebound’ THE report further said that sales were hit hard by the expiration of a $7,500 tax credit for electric vehicle purchases that was phased out by Trump at the end of September. “For the fourth quarter,” said AP, “Tesla sales totalled 418,227, falling short of even the much-reduced 440,000 target that analysts recently polled by FactSet had expected.”

IT is well known that Musk is deep into building platforms on driverless robotaxis service, energy storage business and inventing robots for the home and factory, AP said. But according to AP, Musk’s company is under several “federal safety investigations and other probes” on safety matters. “In Califiornia,” AP said, “Tesla is at risk of temporarily losing its license to sell cars in the state after a judge there ruled it had misled customers about their safety.” But Musk is undaunted.

software updates to his cars will enable hundreds of thousands of Tesla vehicles to operate autonomously without human intervention by the end of this year. The company is also planning to begin production of its AI (Artificial Intelligence)-powered Cybercab with no steering wheel or pedals in 2026.” Musk received a huge boost when Tesla directors awarded him a potentially enormous pay package that shareholders backed at the annual meeting in November, according to AP. Musk also got lucky in one US court. Said AP: “Musk scored another huge windfall two weeks ago when the Delaware Supreme Court reversed a decision that deprived him of a $55-billion pay package that Tesla doled out in 2018.”

No steering wheel

First trillionaire

SAID AP: “Musk has said he hopes

AND look at this: AP said Musk

“Musk said earlier last year that a ‘major rebound’ in sales was underway,” said AP, “but investors were unruffled when that didn’t pan out, choosing instead to focus on Musk’s pivot to different parts of business.”

Robotaxis service

could yet become the world’s first trillionaire later this year when he sells shares of his rocket company SpaceX to the public for the first time in what analysts expect would be a blockbuster initial public offering. That’d would easily soften the impact of BYD’s dethronement of Tesla in the global war for EV supremacy. With Musk, you’ll never know what the future holds.

PEE STOP Happy birthday to Danilo Dalena (January 4), one of the country’s foremost impressionist/ expressionist/social realist painters. The pride of Pakil, Laguna, is so good that not one of his works stands out. That’s because all his works stand out. Walang tapon. Why dear Dalena, 84, has remained an uncrowned National Artist up to now is a crime that keeps the nation’s soul senselessly wounded. I cry a river.

Sports BusinessMirror

B8 Friday, January 9, 2026

www.businessmirror.com.ph

Heat on in PHL Cup semis T

By Josef T. Ramos

NT Tropang 5G goes for a commanding 3-0 lead while San Miguel Beer and Barangay Ginebra San Migiuel virtually start from scratch at the resumption of the semifinals series of the Philippine Basketball Association Philippine Cup on Friday at the Smart Araneta Coliseum. The semifinal pairings switch times anew with the Tropang 5G and Bolts clashing at 5:15 p.m. and the Beermen and Gin Kings taking the floor at 7:30 p.m. Both games promise explosive action specially from Meralco which doesn’t want to go deep into a hole in the raceto-seven series. “A very difficult position to be in but you know the morale of the team is down right now, but we are not definitely not out,” Bolts point guard Chris Newsome said. “These two losses must not affect our morale and spirit.” “We must continue believing that we can continue to win and continue to play good basketball,” added Newsome, who had 18 points, five rebounds and four assists. Calvin Oftana delivered 26 points

with four three-pointers and veteran Kelly Williams had 12 points—all treys—for TNT in its 109-92 Game 2 victory on Wednesday night. Those three-pointers prompted Meralco coach Luigi Trillo to remind his players to play better defense. “There are still a lot of games to be played,” he said, adding they must not let their opponent score 27 or 29 per quarter if they are really serious at winning. On the other end, TNT coach Chot Reyes wanted not just consistency, but a better effort from his wards. “We just want to be better…better defense, better effort, better communication and better execution,” Reyes said. “And what we are aiming for

is Game 3.” If Meralco was loose on defense, TNT wasn’t—Meralco only made one three-pointer from Kurt Reyson Spencer during garbage time out of 14 attempts while the Tropang 5G had 12 triples out of 28 tries. “Keep your vision short, right now what’s in front of us is Game 3,” Reyes said. “We’re not thinking beyond Game 3.” Jordan Heading, who had 24 points for TNT, agreed. “We are keeping our eyes on the prize and not getting ahead of ourselves,” he said. After Ginebra

took Game 1, 99-90, San Miguel Beer fought back, 93-84, to tie the series. Jeron Teng came off the bench for a yeoman’s job for the Beermen and made 12 of his 13 points in the final quarter to compliment June Mar Fajardo’s 21 points and 23 rebounds in Game 2. It was Fajardo’s third straight 20plus double-double after their Christmas Day game against NLEX in the quarterfinals and in Game 1 of the semifinals—a PBA record as the first local player to do the feat, breaking Tanduay’s Eric Menk’s back-toback double-double 20-20 games during the 1999 All-Filipino Cup. For Fajardo, he’s just doing his job. Expect Ginebra to bounce back on Friday. “We will compete with them on the third night. It is a sevengame series,” Gin Kings head coach Tim Cone said. “We have to regroup and see if we could regroup quickly and be back and get this thing going.”

CALVIN OFTANA delivers 26 points with four three-pointers in TNT’s 109-92 Game 2 victory. PBA IMAGES

Eala in quarterfinals in Auckland

ALEX EALA is vastly improving each day as she warms up in Auckland for the Australian Open. WTA PHOTO

China, who defeated Isabelle Haverlag of the Netherlands and Maia Lumsden of Great Britain, 6-4, 1-6, 7-5(5). “I’m so happy with how I was able to compete and handle the different situations on court,” Eala said. “Every start of the year comes differently. New year, new story, and that goes for everybody.” “I’m happy with how I’m starting...it’s difficult…but I’m happy with how I’m playing.” The 20-year-old Eala, gold medalist at the Southeast Asian Games in Thailand in December, next takes on either fifth seed Magda Linette, 33, of Poland, or 24-year-old Italian Elisabetta Cocciaretto. Jovic, the third seed, also advanced in straight sets, defeating 19-year-old Sara Bejlek of Czechia, 7-6 (3), 6-4. World No. 35 Jovic, from the US, battles Belgium’s Sofia Costoulas, 20, whoe defeated 19-yearold Spaniard Kaitlin Quevedo, 6-2, 6-0.

LEXANDRA EALA marched on to the quarterfinals of the Auckland Open with a 6-0, 6-2 drubbing of Petra Marcinko on Thursday in New Zealand. The tournament fourth seed and world No. 53, Eala completed the win in 63 minutes at the ASB Centre. It was a huge difference from two days before, when Eala needed three sets, lasting two hours and 40 minutes, to get past Paris Olympics silver medalist Donna Vekic in the Round of 32. Eala and Iva Jovic of the US also advanced to the doubles semifinals with a win by walkover against Jesika Maleckova of Czechia and Renata Zarazua of Mexico. They next face third seeds Yufan Xu ad Zhaoxuan Yang of

Seventh seed Xinyu Wang of China beat Zarazua, 7-5, 6-4, to set up a quarterfinal showdown with Francesca Jones of England, who eliminated Sinja Kraus of Austria, 1-6, 6-4, 6-1. Top-seeded Elina Svitolina again relied on her “fighting spirit” also on Thursday, beating wild-card entry Katie Boulter, 7-5, 6-4, to reach the quarterfinals of the Women’s Tennis Association tournament in Auckland, New Zealand. Both players struggled on serve in windy conditions on center court. There were nine service breaks in the match, which the No. 13-ranked Svitolina clinched on her third match point. “Katie is a great fighter so I was expecting a tough match,” Svitolina said. “She can strike the ball very well, as she did today, and it was not an easy match for us with the wind swirling around.” AP and WTA

Two-week tennis tourney unfurls in Apalit

FESTIVE yet fiercely competitive two-week tournament featuring the country’s top and rising junior players ushered in the new Palawan Pawnshop-Palawan Express Pera Padala (PPS-PEPP) season. Billed the Zopiya Morales National Juniors Tennis Championships, the kickoff leg got under way Thursday with boys’ competitions in the 18-, 16-, 14- and 12-and-under divisions. Tournament director Bobby Mangunay said the event is being staged over two weeks to accommodate the

large number of entries with the girls’ competition set January 15 to 19 at the Zentro clay courts in Apalit, Pampanga. “This is always one of the most exciting stops on the calendar,” Mangunay said. “You can really feel the hunger and excitement of the kids. Everyone wants to start the season strong, gain confidence early and build momentum for the long grind ahead.” Bannering the Group 2 tournament presented by Dunlop and sanctioned by the Philippine Tennis As-

sociation are Troan Vytiaco, Felizardo Lota III, Karl Almiron and Anthony Cosca in the 18-and-under division. Cosca is also the top seed in the highly competitive 16-and-under category which features Vytiaco, Antonio Bengzon and Kenji Kue. Equally compelling battles are expected in the 14-and-under division with Tyronne Caro, Jfsky Berille, Jairus Peralta and Yuan Torrente bracing for a spirited showdown, alongside Juan Antonio Cablitas, Joaquin Dacyon, Raven de Guzman and Avriel Panaligan.

PHILIPPINE Olympic Committee and PhilCycling president Abraham “Bambol” Tolentino and Asian Cycling Confederation head Dato’ Amarjit Singh Gill lead the inauguration of the Tagaytay City CT Velodrome in June last year. POC PHOTO

PILIPINAS Sepaktakraw Association Inc. president Karen Tanchanco Caballero and secretary-general Irene Tanchanco pose for posterity with Asian Sepaktakraw Federation president Dato Abdul Halim Kader and top confederation officials. ASTAF PHOTO

Sepaktakraw fed hosts Asian U-19 in November

HE Philippines was officially awarded the hosting rights for the Asian Sepaktakraw Federation (ASTAF) U-19 Asian Sepaktakraw Championships 202, following the signing of a Letter of Agreement between the continental federation and the Pilipinas Sepaktakraw Association Inc. (PASTAI). The agreement was finalized after formal meetings held in Thailand last month, granting the PASTAI the mandate to organize and stage the continental youth championships in Manila in November. Under the agreement, according to national federation president Karen Tan-

chanco Caballero, the ASTAF authorizes the PASTAI to host the tournament in full compliance with the ISTAF 2023– 2025 Tournament Hosting Requirements, including adherence to international technical standards, competition formats and governance protocols. The championship will be officiated by International Technical Officials and match officials appointed by the International Sepaktakraw Federation (ISTAF). The agreement—signed by ASTAF president Dato Abdul Halim Kader of Singapore—also outlines the host association’s responsibilities covering local event, delivery, venue prepa-

ration, logistics, security, athlete services, media facilities, transportation, accommodation, tournament promotion and technical operations. Marketing, commercial and broadcasting rights for the championship remain vested with ISTAF, reinforcing the event’s international positioning and ensuring global visibility for one of Asia’s premier youths sepaktakraw competitions. The hosting of the championships marks a significant milestone for Philippine sepaktakraw, strengthening the country’s role in regional sports development and youth highperformance pathways.

HE 45th Asian Cycling Confederation (ACC) Track Championships returns to the Philippines after 31 years at the new Tagaytay City CT Velodrome with 12 nations confirming their participation for the March 25 to 31 competitions. “It’s been three decades since the country hosted the Asian track championships—1995 to be exact at the then Amoranto Velodrome in Quezon City,” said Philippine Olympic Committee (POC) president Abraham “Bambol” Tolentino, who also heads cycling’s national federation, PhilCycling. “With at least 12 nations confirming their attendance and more than 200 athletes competing as of today [Thursday, January 8] at the brand-new and International Cycling Union [UCI]standard velodrome, the POC, PhilCycling and Tagaytay City will be rolling out the red carpet as we aim for an excellent hosting of the event. Tagaytay City Mayor Aizack Brent Tolentino guaranteed the city’s full

Asian track cycling returns to country after 3 decades support to the championships which features competitions in men and women sprint, keirin, 1-kilometer time trial, team sprint, individual and team pursuit, points race, scratch, omnium, Madison and elimination race. To be held simultaneously in the event fully supported by the Philippine Sports Commission headed by Patrick “Patò” Gregorio are the 14th Asian Para Track Cycling Championships in the 1-km time trial, individual pursuit, sprint, elimination and scratch races in six events both for men and women. Besides host Philippines, already confirmed for the championare powerhouse Japan, South Korea, China, Malaysia, Thailand, Indonesia, Hong Kong, Chinese-Taipei, Ka-

zahkstan, Uzbekistan and Iran. Japan dominated the 2025 championships in Thailand with 16 of the 22 gold medals that were staked, followed by Malaysia with two and South Korea, China, Hong Kong and Uzbekistan with one gold each. The POC and PhilCycling president expects more countries to send their teams to the championships which already surpassed the 10 nations that took part in last year’s edition in Nilai, Malaysia. The registration deadline is set on January 15. Tolentino and Asian Cycling Confederation head Dato’ Amarjit Singh Gill led the inauguration of the velodrome in June last year.