Author: Nouman Ali

Concreat Holdings Philippines Inc., formerly Cemex Holdings Philippines Inc., said one of its key subsidiaries has secured fresh funding to support capital spending and operations.

In a disclosure on Wednesday, the company said Solid Cement Corp. entered into a term loan facility agreement with BDO Unibank Inc. for up to P5 billion.

Proceeds from the loan will be used to fund capital expenditures and other general corporate purposes, the Concreat said.

To support the transaction, Concreat and another subsidiary, Apo Cement Corp., signed a surety agreement to secure Solid Cement’s obligations under the facility.

The move comes as cement producers continue to invest in capacity and operational improvements amid steady demand tied to infrastructure and construction activities.

This fresh funding is expected to help sustain Solid Cements’s operations and support ongoing projects.

The disclosure did not provide further details on the loan’s tenor or pricing.

Profile

Concreat is engaged in the production and distribution of cement products through its subsidiaries. Its operations are anchored on key cement plants serving Luzon and other growth areas.

BDO, one of the country’s largest banks, continues to play a key role in financing large corporations, particularly in sectors tied to infrastructure and construction.

The parent firm, DMCI Holdings Inc., posted a 20-percent drop in consolidated net income for 2025, weighed down by softer earnings from its energy business and losses linked to the integration of its cement unit.

DMCI said the decline was largely due to ‘normalizing’ results from its integrated energy operations, along with losses incurred by its cement arm, Concreat.

When Creamline flushed Cignal with a heavy dose of championship experience to take Game 1 of the PVL All-Filipino Conference finals, the Cool Smashers did so in such an authoritative manner that even their foes couldn’t help but notice.

‘It’s about how they (Creamline) stay composed and enjoy every situation. For us, it felt different,’ said Super Spikers coach Shaq Delos Santos. ‘The biggest lesson for us, especially since it’s our first time [in the All-Filipino finals], is to embrace the moment.’

Cignal, which owns runner-up finishes in the 2022 Reinforced and 2024 Invitational, has one shot to embrace the moment.

Creamline guns for the crown on Thursday at Smart Araneta Coliseum, intent on reclaiming its crown but very much aware of how much its gritty foe has to offer as it fights for survival.

‘Cignal is the type of team that doesn’t stick to just one lineup. They make a lot of changes. So we need to stay patient and be ready for whatever adjustments they make in Game 2,’ said Jema Galanza, who had 17 points in Game 1, aside from collecting 13 excellent receptions from 18 tries.

The Cool Smashers looked untouchable in that 25-22, 25-18, 25-16 victory two days ago, but even coach Sherwin Meneses admitted that his squad can’t expect to run through their rivals in the same easy manner.

‘The series isn’t over,’ Meneses said, adding there is much to clean up heading into the 5:30 p.m. Game 2 tussle. ‘We’ll continue to work on our lapses in practice and go back to square one. Cignal won’t back down. That’s why they’re in the finals. So we can’t relax.’

Jia de Guzman, who returned to the finals for the first time in three years, is optimistic heading to Game 2, but said her teammates will have to be careful against a team that beat them twice in three previous meetings this conference.

No surrender

‘We have to do our best to close out as much as possible because we know Cignal is a good team. They gave us a hard time the whole conference,’ said De Guzman, who had 22 excellent sets and scored four points.

‘We’re optimistic. We’re thankful that the team is slowly coming together. We’re peaking at the right time. But Game 2 will be a different kind of fight,’ she added.

It is a fight that Cignal hasn’t surrendered just yet.

‘There’s still a Game 2. The championship isn’t decided in Game 1. We still have the opportunity to bounce back, reset, and perform better in the next game. We’ll fight until the end,’ said Delos Santos in Filipino.

‘It’s tougher for us since we didn’t get Game 1. Personally, I need to trust the team and our system more. We just have to play our game. I told them not to pressure themselves too much. I want us to show what we’ve built and prepared for, because that’s why we got here. We just need to bring out our real game, and that’s it, no regrets,’ he added.

The Super Spikers will again rely on Vanie Gandler, who finished with 17 points and 10 receptions in Game 1, and will hope that Erika Santos can rebound from a 9-of-39 attacking clip that netted 10 points. Gel Cayuna was limited to 14 excellent sets but scored six points-the third-best scorer of the team.

PLDT, meanwhile, looks to clinch bronze in Game 2 against Farm Fresh at 3 p.m.

Philippine National Police (PNP) Chief Gen. Jose Melencio Nartatez Jr. has ordered police officers conducting checkpoint operations to speed up inspections of trucks transporting essential goods.

‘Amid the challenging situations that our country is experiencing, our personnel on the ground stationed at checkpoints will ensure that the flow of goods remains unhampered and uninterrupted,’ Nartatez said in a statement on Thursday.

He also said the new directive will not affect the police force’s crackdown on smuggled goods.

‘Checkpoint operations will continue to support law enforcement objectives without compromising the movement of legitimate cargo,’ the PNP chief said.

The top cop added that the police force will coordinate with local government units (LGUs) and other agencies to ensure that regulations are still enforced without disrupting essential transport.

Nartatez’ statement came after Executive Secretary Ralph Recto said ‘unnecessary and unreasonable’ checks and inspections of food trucks conducted by the police and LGUs at checkpoints delayed travel and wasted fuel.

Recto made the pronouncement on Tuesday, appealing to government agencies to help farmers and traders take advantage of reduced toll and port fees to soften the impact of high fuel prices on food.

China Banking Corp. reported a P6.8-billion net income in the first quarter, up 4 percent, driven by core business growth.

The Sy family-led bank said on Thursday that it posted a return on equity of 14.2 percent and return on assets of 1.5 percent, among the highest in the industry.

Total assets reached P1.9 trillion, up 12 percent, while gross loans climbed 16 percent to P1.1 trillion on broad-based demand.

Deposits rose 13 percent to P1.5 trillion, lifting liquidity. Meanwhile, total equity increased 10 percent to P192.3 billion, with book value per share at P71.42.

Suspected drugs worth a total of P3.4 million were confiscated, and four individuals were arrested in buy-bust operations in Quezon City and Pasay City on Wednesday night and early Thursday morning.

In a statement on Thursday, the Quezon City Police District (QCPD) said it entrapped two suspects in front of a restaurant at the corner of Tomas Morato Avenue and Scout Limbaga Street on Wednesday night.

‘A police officer acted as poseur buyer and bought P451,000 worth of shabu from suspect Ronnie, and at the given pre-arranged signal, he was arrested along with his cohort, [John],’ the police explained.

Operatives recovered an additional P913,538 worth of suspected shabu from the two suspects, according to the QCPD.

Police said the suspect, identified by the alias Ronnie, has a previous case for violating Presidential Decree No. 1602, which prescribes stiffer penalties for illegal gambling.

Meanwhile, the Southern Police District (SPD) said it had apprehended two more suspects in front of a fast-food restaurant at the corner of Libertad Avenue and Taft Avenue in Barangay 92 early Thursday morning.

The SPD identified the suspects by the aliases ‘Chong,’ 33; and ‘John,’ 26, noting that they were both ‘high-value’ individuals.

‘Seized during the operation were approximately 300 grams of suspected shabu with an estimated standard drug price value of P2,040,000, along with buy-bust money, a mobile phone and other drug paraphernalia,’ the police explained.

All four suspects were taken into their respective police’s custody, awaiting charges for violating Republic Act No. 9165 or the Dangerous Drugs Act.

An outright downgrade of the Philippine sovereign credit rating is unlikely unless the war in the Middle East drags on, Nomura Global Markets Research said, adding that growth should rebound as the government accelerates spending.

In a note, Nomura economists Euben Paracuelles and Nabila Amani said the country’s fiscal risks are more manageable than those facing many of its peers that are also under ratings pressure.

On Monday, Fitch Ratings revised its outlook on the Philippines to ‘negative’ from ‘stable,’ signaling that the country’s investment-grade ‘BBB’ rating could be downgraded within one to two years if fiscal conditions fail to improve.

The move followed last week’s setback, when S and P Global Ratings cut its outlook to ‘stable’ from ‘positive,’ dimming hopes that the country could soon secure its first-ever ‘A’ rating from one of the three major credit rating agencies.

Fitch’s rating stands one notch below S and P’s ‘BBB+,’ itself one step short of the coveted ‘A’ level.

Explaining their actions, both agencies pointed to the same challenge: The Philippine government, still reeling from the fallout of a major corruption scandal that paralyzed public spending, is confronting an oil shock with diminished fiscal buffers.

‘As we argued before, a shift to a negative outlook, much less a rating downgrade, by S and P, is unlikely over the next few months, even with its higher credit rating, and we believe it will be the same for Fitch, unless the crisis becomes is significantly prolonged,’ Paracuelles and Amani said.

Review cycle

‘By the next review cycle (which is usually 12 months, unless there are significant developments that warrant an earlier review), the main factors cited by Fitch for a downgrade will likely show some improvements, in our view,’ they added.

Moody’s Ratings, the third major agency, has yet to announce a rating action. But in an April 14 credit opinion, it warned that the conflict in the Gulf region has increased downside risks to the Philippines’ economic outlook by lifting global energy prices and intensifying external cost pressures.

A rating downgrade could mark the country’s first since 2005, when political turmoil and fiscal instability eroded the Philippines’ credit standing.

A lower rating could raise the government’s borrowing costs at a time when it is running a budget deficit to finance development spending.

Infrastructure spending

But looking ahead, Nomura said gross domestic product growth should rebound as the government implements catch-up infrastructure spending and as terms-of-trade pressures ease. This assumes that a US-Iran deal could be made.

The bank forecasts 2026 growth at 5 percent-above Fitch’s 4.6 percent-even after trimming its own projection from 5.3 percent to reflect the energy price shock.

‘We still think the government has a limited appetite to implement blanket fuel subsidies that tend to be difficult to unwind,’ Nomura said. ‘Therefore, the medium-term fiscal consolidation agenda is unlikely to be derailed, even if implemented more gradually to recalibrate for the external shock and evolving domestic economic conditions, in our view.

The Police Regional Office Negros Island Region (PRO NIR) has activated a Special Investigation Task Group to establish the identities of bodies recovered following a series of ‘encounters’ in Toboso, Negros Occidental, on Sunday.

Through forensic examination, documentation, and coordination with local government units and relatives, the task group aims to provide a formal accounting of the deceased, said the PRO NIR statement.

The Philippine Army earlier said that 19 alleged New People’s Army (NPA) rebels were killed during a series of encounters with soldiers of the 79th Infantry Battalion in Barangay Salamanca, Toboso, on April 19.

On Wednesday, PRO NIR confirmed that six of the 19 fatalities have been positively identified and claimed by their respective families. They were Rene Villarin Sr., alias Kumader Pikot, 58, of Sitio Huwebisan, Barangay Marcelo, Calatrava; Roger Fabillar Tapang, alias Jhong or Arnel, 36, of Sitio Malig-on, Barangay Bandila, Toboso; Ruel Sabillo, 19, of Sitio Singiton, Barangay Tabun-ak, Toboso; Sonny Boy Manayon Caramihan, 28, of Sitio Batbataw, Barangay Bagonbon, San Carlos City; Pedro Agustin Bonghanoy, 32, of Barangay Libertad, Escalante City; and Arnel Mahilum Javoc, 32, of Sitio Labay-ao, Barangay Lalong, Calatrava.

Brig. Gen. Arnold Thomas C. Ibay, PRO NIR Director, said that the successful identification and release of the remains reflect their commitment to professionalism and humanitarian considerations.

He noted that while the police are carrying out lawful duties, they remain dedicated to showing compassion to the families involved.

Meanwhile, Altermidya Network had said its NIR coordinator. RJ Nichole Ledesma was among those killed, while the UP Diliman University Student Council confirmed the death of Alyssa Alano in Sunday’s incident.

Continuing efforts are now focused on identifying the other fatalities, the PRO NIR said.

Police authorities are currently validating submitted information, reviewing available records, and conducting further medico-legal and forensic documentation, it added.

The PRO NIR said they are facilitating the orderly release of all confirmed cadavers once the necessary documentary and legal requirements are fully completed.

Fresh off the box office hit ‘The Loved One,’ screenwriter and director Irene Emma Villamor returns with her latest offering, ‘Midnight Girls,’ starring Jodi Sta. Maria, Sanya Lopez, Jane Oineza, and Loisa Andalio. The film is a huge departure for Villamor, whose filmography is rife with stories revolving around the complex nature of love. From ‘Camp Sawi’ to ‘The Loved One,’ Villamor had always looked at the price of romance-especially in films like ‘Sid and Aya: Not a Love Story,’ ‘Ikaw at Ako at ang Ending,’ and ‘The Loved One’-where she argues that economics, politics, and society are of vital consequence to love and being in love.

‘Midnight Girls’ strays away from the central themes in most of Villamor’s filmography as she sets her camera on the bonds of sisterhood formed in a small community of Filipina hostesses in Japan. It’s an OFW story that centers on a different kind of love-that of family, both chosen and by blood.

Discussed, implied, but never shown

The four actresses represent the different struggles of the Filipina OFW in an exploitative industry. Sta. Maria’s Vicky has left her son in the Philippines and only communicates with him via video call on the phone. She provides for him, her grandmother, and other family members. Lopez plays Paris, who must navigate the difficulties of falling in love with a native, who may take her off her path. Meanwhile, Oineza plays Saki, who is struggling with the nature of the work while confused about her own gender identity.

And Andalio plays the latest arrival, Wanna, who is taken under the wing of the three older women and learns about the hardships of the work.

These hostesses, more popularly known as ‘japayuki’ (though I’m wary of using the term), work in bars and serve as companions for locals and tourists-mostly the former-and entertain them, getting them to order more drinks in exchange for large tips.

The film tells us that the clients have a ‘no touch’ policy, but we see it broken over and over as the girls and their patrons get comfy, seated beside each other and sharing drinks. This is Villamor’s approach to the story-the exploitation is discussed, implied, but never shown. But what is in full view here is the women’s humanity: The moments are spent showing them endure and persevere through their work-often questioned by people around them, and even sometimes themselves-and anchoring the narrative on why they do what they have to do.

Villamor is working hard to give these girls dignity and agency, presenting the film as a slice-of-life, rather than a plot-driven story. She carefully builds these women’s stories and amplifies the bonds that are formed from sharing these struggles.

Loisa andalo

Loisa Andalo in ‘Midnight Girls’

Immersing in the world

During a special screening leading up to the film’s opening in May, I had a chance to talk to Villamor about the film. She told me that they had spent a lot of time in Nagoya, Japan, interviewing the hostesses to gather their stories.

‘We were able to build other stories,’ she tells me, ‘and we gave them all to the producers-and this is what they chose. I was so happy it was this one that they gave the go signal to.’ She was happy because they chose the ensemble piece, which is something she really wanted to do. She calls out Marilou Diaz Abaya’s ‘Moral’ as her inspiration, and I can see it in the narrative structure and its elements.

When asked if it was hard shifting her lens to a different kind of story, Villamor says, ‘Yes! Kasi hindi siya ‘yung comfort zone ko-‘yung love story-at nakaka-challenge kasi nag-iisip pa rin ako ng panibagong love story.’

And this time, the focus is on love for family and the bonds of sisterhood. She claims that she had asked the universe for the chance to exercise her directing skills in another genre-and she truly was able to.

Women with agency

When I tell her about how the film never felt exploitative to me, she shares an anecdote about coming home after the one-month shoot-several days of immersion for the cast, 13 days of shooting-and where, during editing, she realized that the film had no sex scenes or scenes of abuse or the exploitation that is talked about by the characters.

‘Tama ba ‘yung ginawa ko?’ she questions, but because of the absence, the film now begins a dialogue with so many other previous Filipino films about OFW workers and the abuse and exploitation that they have received in their work. The absence is instantly filled by our own collective imagination of all the things we’ve seen on the news, on social media, and all the prior films that came before. ‘Midnight Girls’ ends up presenting us with the other side of the story.

Lopez, during the talk back, shared that this film does not present these women as victims. She emphasizes that the women are portrayed with agency, which elevates them from the usual representation.

Immersing themselves in the role

Sta, Maria reveals that she had studied extensively in preparation for the role-read articles and books on transnationalism and really engaged with the women whose lives were the basis for the characters on screen-and she adds that the women were present during filming, guiding them through the entire shoot so they could really represent them as accurately as possible.

They even had a translator on set, and the actors had to learn to speak Nihonggo for their scenes-most challenging for Sta. Maria, Lopez, and Oineza-as their characters have been living them for many years, and the delivery had to represent that.

But after all that practice, the moment the scene is done and they move off to the next, both Sta Maria and Lopez admit that they forgot the lines immediately.

A different kind of OFW story

Shot entirely in Nagoya, Japan, ‘Midnight Girls’ takes the expectations that are attached to the Filipina hostess in Japan and turns them on their head.

It never judges its characters-no matter how hard some characters judge them-but seeks to identify the social structure of the system that demands these kinds of sacrifices to be made. This is something that drew Sta Maria to the project-about how the film implicates how our own society and government have made these efforts necessary, by splitting families apart and building new homes in foreign lands.

The spectacle in the film is not the exploitation or the abuse but the bonds of the chosen family that help keep these women afloat. While the film has its dramatic moments, the most visually striking images are of how these women keep themselves together through the toughest events possible and the eventual reveal of their vulnerability.

Sergio Veloso’s era with Ateneo Blue Eagles has come to an end.

After three seasons, the Brazilian coach handled his final game in the UAAP-and in the Philippines-as Ateneo absorbed a heartbreaking 22-25, 23-25, 25-12, 25-21, 15-10 loss to Far Eastern University to close its Season 88 campaign on Wednesday at Smart Araneta Coliseum.

According to reports, Veloso has already decided to leave after this season. Tiebreakertimes broke the news.

‘This is my last season in Ateneo. I am leaving the Philippines. I’ll work. I am part of the FIVB program. And now in this situation, I am now out of the PNVF,’ Veloso said.

‘For this time, Ateneo decided not only this season. This decision started in the last year, when change came in the PNVF.’

Veloso finished his final season with a 2-12 record.

Under his belt, Ateneo missed the chance to end a four-year Final Four drought. His first two seasons ended with identical 5-9 records when Lyann De Guzman and AC Miner were still leading the team.

Veloso was brought in by the Philippine National Volleyball Federation in 2023, handling the Alas Pilipinas squad in the Southeast Asian Games and Asian Games before Angiolino Frigoni replaced him for the FIVB Volleyball World Championship.

‘I want to thank Ateneo, thank the PNVF, for this opportunity to share my knowledge and my players. Not only for the girls, but for the national men’s team too, and for me, it’s so glad,’ said Veloso. ‘When I look at the end of the match, all the players, and the former players AC, Lyann, and Roma (Doromal). They give me nicknames, they call me ‘dad.’ And this for me is so good, because I know I can touch the players.’

As he leaves the country, Veloso brings precious memories not just from Philippine volleyball but from all the Filipinos he met.

‘When I think about the countries where I worked in the world, I stayed here three seasons, and if you ask me, out of my country, out of Brazil, here in the Philippines, I think it’s the best. Because the people, it’s more similar than Brazil. I tell them, the Philippines, they are Latin Asians, because the country has a lot of influence because it’s a Spanish-Latin country, and I appreciate it a lot,’ the outgoing Ateneo coach said.

Last year’s Typhoon Tino dropped a month’s worth of rain over the course of a few hours, and left behind hundreds of deaths and millions of pesos in agricultural and structural damage. For some, Tino was an unavoidable tragedy and the direct result of an unforeseen natural disaster. But with questions of flood control and ghost projects, to others, it was an example of how corruption and institutional incompetence directly resulted in the loss of Filipino lives.

After firsthand accounts and videos of murky, mocha-colored flood waters surfaced in Barangay Guadalupe during the typhoon, many pointed to Slater Young’s The Rise at Monterrazas as a significant contributor to the flooding in Cebu. That is, on top of the Department of Environment and Natural Resources (DENR) slamming a cease-to-operate order on the project last November.

However, after the Environmental Management Bureau (EMB) Region 7 (Central Visayas) confirmed that it lifted the cessation of operations order (CDO) against the Monterrazas project, Young broke his silence on the matter.

‘That tragedy was real, and it deserves real answers, not speculation, not misinformation,’ said the content creator/civil engineer in a statement posted on YouTube. ‘We also know that what we experienced is nothing compared to the suffering of those who were directly affected by the flood. We tried to never lose sight of that, and we waited for the truth.’

Slater’s defense

‘When the accusations were made against the Monterrazas project, our first instinct was to respond immediately, but we held back because we believed that the right thing to do was to let the proper investigations run its course, to let the science and evidence speak rather than to add to all the noise and confusion,’ added Young, putting forward an independent study conducted by the Institute of Environmental Science and Meteorology (IESM) Environmental Hydrology Laboratory at the University of the Philippines, Diliman.

‘These were done by scientists with no connection to the project, no stake in the project,’ he added. ‘They found that Monterrazas did not cause or worsen the flooding. What caused it was the sheer volume of rain.’

According to the study, the Monterrazas project helped mitigate the occurrence of flash floods during Tino. Its detention ponds acted as stopgaps that held incoming rainwater, allowing it to flow slowly rather than having it all go down at once. The study also produced models and comparisons to prove that flooding levels would have been the same even without the existence of the Monterrazas site-and in fact, the project is said to have reduced overall flooding in the area by around two percent compared to if the area was left undeveloped.

‘The science does not just say we did not cause the flooding, it says that the systems we had built in place helped reduce it. This is not our conclusion; this is theirs. This study is public, and anyone who wishes to go through it is free to do so,’ shared the Pinoy Big Brother winner.

Though, despite the facts and figures Young has put forward, public opinion has largely been left unchanged, with others unconvinced of the validity of the UP study cited. Although Young claims that several third-party researchers have peer-reviewed the findings and have reached similar conclusions, all we have so far is a Facebook summary that won’t hold up as an undeniable fact.

Should the IESM Environmental Hydrology Laboratory publish the complete study and its findings are supported by more environmental organizations, then this would likely result in greater support for Monterrazas. But even then, it’s also safe to say that even that won’t have much impact on the court of public opinion.

‘We understand that for some, no study or finding will ever be enough. Grief does not follow a timeline, and we respect that,’ Young added. ‘But Cebu deserves real solutions and real solutions can only come from correctly identifying the real cause-that is, work that is ongoing, and Monterrazas is committed to being a part of it; I am committed to being a part of it.’

Reactive, never preventive

After the Monterrazas development was placed under scrutiny following Typhoon Tino, DENR initially halted the project, citing several breaches of forestry and environmental laws, notably the Forestry Code of the Philippines, the Clean Water Act, the Philippine Environmental Impact Statement (EIS) System, as well as lapses in their Environmental Compliance Certificate.

It’s also important to note that more than 700 trees were reportedly cut down within Monterraza’s 140-hectare property.

In short, these violations were happening right under our noses, and it took a region-wide disaster and several viral TikToks for anything to be done about it. And to make things worse, while Young’s statement addressed the flooding aspect of the controversy, nothing regarding the violations was ever discussed.

According to EMB-7 Regional Director John Edward Ang, the order was lifted on the basis of ‘documented remedial works, compliance milestones, and settlement of penalties’ by The Mont Property Group, Inc., meaning, penalties were paid off, and lapses were made up for-after hundreds of lives were lost to Typhoon Tino. Again, too little too late.

But as easy as it is to solely direct anger and attention towards Young and Monterrazas, DENR and the Cebu local government are also to blame. Frankly, the spotlight on Young has directed attention away from the P26 billion in flood control funds Cebu received from 2016 to 2025 that have amounted to nothing, and the rules and regulations that allowed Monterrazas to operate to begin with.

Through DENR and the Cebu local government, penalties can be paid off and cease to operate orders can be simply lifted. Meanwhile, the people of Cebu lost their friends and family, their property, and their livelihoods. But Young and The Mont Property Group, Inc.? Barely anything by their standards. A few hate comments, a slap on the wrist, and the approval to carry on with the project.

In the coming months, when typhoon season hits again, what will be their solution? Will it be to simply add more compliance checks? More detention pools? What about improving environmental compliance standards to begin with? Why not outright ban developments in flood-prone areas? In the end, Young and Monterrazas are only playing by the rules they’ve set.

Developers can handle the fines and penalties this game of trial and error asks for. But everyone else? The best they can do is survive the flood.

So yes, as Young says, Cebu deserves real solutions. But simply adhering to the bare minimum set by DENR and the local government won’t be enough. After all, it’s that bare minimum that got the people of Cebu to where they are today.