John Hay asset devt up for bidding By Andrea E. San Juan
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HE Bases Conversion and Development Authority (BCDA) said the Mile Hi property in Camp John Hay in Baguio City is up for bidding as it aims to redevelop this property into an eco-hostel property with retail and dining spaces. In a statement on Wednesday, BCDA said it has “auctioned off the lease and redevelopment” of the 6,647-square-meter Mile Hi property as the state-run firm aims to boost the local economy and tourism sector. Under the proposed plan, it said the site will be redeveloped into
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an “eco-hostel with upscale retail and dining spaces along Sheridan Drive in Camp John Hay.” The 25-year lease agreement will enable the restoration, renovation and upgrading of the Mile Hi property into a modern commercial hub “while preserving its historical essence and promoting environmental sustainability,” the BCDA said. “This initiative is projected to attract a significant influx of tourists and further solidify Camp John Hay’s position as a leading leisure destination in the Philippines,” said BCDA. The state corporation, which regained control over the 247-hectare John Hay property in January said the Mile Hi project builds on
the BCDA’s “strong” track record in Camp John Hay, where over P1 billion in investments has been generated since the property’s recovery. BCDA said the property has been experiencing a “wave of private sector investments,” particularly from Metro Pacific Investments Corporation subsidiary Landco Pacific Corporation which is managing The John Hay Hotels, as well as Golfplus Management Inc. and DuckWorld Philippines that oversees John Hay Golf. Moreover, businesses such as Stern Real Estate Development, Amare La Cucina, and Top Taste Trading have also committed investments to the area. BCDA explained that the Mile Hi
property—named for its “unique elevation approximately one mile above sea level”—holds a “special place” in Camp John Hay’s history. “Once a popular indoor recreation center featuring a bowling alley, billiard and ping-pong tables, arcade games, and a fondly remembered snack bar, the site is poised for a new chapter,” BCDA said. BCDA President and CEO Joshua M. Bingcang said “By attracting private sector investment and creating new commercial opportunities, we are not only enhancing the camp’s appeal as a premier destination but also generating employment and stimulating economic activity for the benefit of the community and the nation.”
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Thursday, May 15, 2025 Vol. 20 No. 214
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Comelec eyes ‘fastest’ canvass, proclamation in election history
By Cai U. Ordinario @caiordinario
HE imposition of higher export taxes has increased prices and reduced the global supply of critical raw materials—a situation which the Organisation for Economic Co-operation and Development (OECD) said was caused by the decision of governments, including the Philippines, to raise state revenues. In the Inventory of Export Restrictions on Industrial Raw Materials 2025, OECD said export restrictions on industrial raw materials increased by more than five-fold between 2009 and 2023. The bulk or 94 percent of these restrictions in 2023 were imposed by The People’s Republic of China, Viet Nam, Burundi, the Russian
By Justine Xyrah Garcia
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OR the first time in Philippine election history, the Commission on Elections may complete all major post-election processes and announce the winners just days after the midterm polls. Comelec Chairman George Erwin M. Garcia said on Wednesday that they are targeting to finish the canvassing of all votes for senators and party-list groups— from municipal, district, provincial, and city boards of canvassers, as well as overseas posts—by Thursday, May 15.
Federation, Democratic Republic of the Congo, Zimbabwe and Laos. “The incidence of export prohibitions, the most restrictive form of export restriction, has increased significantly since 2019. In fact, they were the most frequently introduced type of restriction in 2022 and the second See “Export” A2
SC STRIKES DOWN BLANKET LGU BANS ON LARGE-SCALE MINING “It’s in the nation’s best interest that we immediately proclaim the winning candidates. It’s our duty to remove any doubts among the public.” — George Erwin M. Garcia, Comelec Chairman
A VIEW from an outrigger boat en route to a remote area in Abra de Ilog, Mindoro, now central to a landmark legal ruling. The Supreme Court has declared as unconstitutional the 25-year moratorium on large-scale mining imposed by Occidental Mindoro and the Municipality of Abra de Ilog. The Court affirmed that local ordinances cannot override national laws like the Philippine Mining Act of 1995. SCHOENEBERGELENA | DREAMSTIME.COM
By Joel R. San Juan
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@jrsanjuan1573
HE Supreme Court has affirmed a 2018 order by a trial court which declared invalid for being unconstitutional the ordinances and resolutions issued by the Province of Occidental Mindoro and the Municipality of
Abra de Ilog, imposing a 25year moratorium on large-scale mining. In a 30-page unanimous decision penned by Associate Justice Marvic Leonen, the Court en banc held that such ordinances resolutions violated Republic Act 7942 or The Philippine Mining Act of 1995. See “SC,” A2
REFLECTIONS OF RECOVERY The Philippine Stock Exchange (PSE) logo is reflected on its Bonifacio Global City headquarters as pedestrians pass by on May 13, 2025, a day after the national midterm elections. The PSE index climbed by 108.62 points to close at 6,566.82, breaking past the 6,500 resistance level. Analysts attributed the gain to investor confidence in the post-election political landscape and expectations of monetary easing from the Bangko Sentral ng Pilipinas. NONIE REYES
If the timeline holds, Garcia said the 12 winning senators and some party-list groups could already be proclaimed by Saturday. “In previous elections, canvassing would take two weeks. Sometimes, by the second day of canvassing, we’d only get three COCs in. Yesterday, we already canvassed 58. That’s a first. We’re hoping to reach 100 today,” Garcia told reporters. The Comelec en banc, sitting as the National Board of Canvassers (NBOC), is required to canvass a total of 175 COCs: 82 from provinces, 26 from highly urbanized cities, 64 from overseas voting posts, one from local absentee voting, and two from legislative districts. As of May 13, just a day after the elections, the NBOC had already canvassed 58 COCs—or 33.14 percent of the total. Garcia assured the public that See “Comelec,” A2
PESO EXCHANGE RATES n US 55.7130 n JAPAN 0.3779 n UK 74.1540 n HK 7.1463 n CHINA 7.7336 n SINGAPORE 42.8199 n AUSTRALIA 36.0352 n EU 62.3317 n KOREA 0.0393 n SAUDI ARABIA 14.8544 Source: BSP (May 14, 2025)