Author: Nouman Ali

Globe Telecom Inc. bought back $426.42 million worth of its dollar-denominated perpetual capital securities following its tender offer, which formed part of its liability management program.

In a disclosure on Thursday, the Ayala-backed telco said the accepted tenders represented majority of the $600 million senior perpetual capital securities issued in 2021.

After the offer expired on April 22, about $173.58 million in principal amount of the securities would remain outstanding, Globe said.

Settlement of the accepted securities is expected by April 24.

This buyback comes as the company moves closer to redeeming the remaining balance of equity instruments, which carry an initial distribution rate of 4.2 percent.

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.

Angelica Panganiban has warned the public against an online scam using the name and photos of her business resort.

In an Instagram post on Wednesday, April 22, Panganiban informed her followers about a fake Facebook page posing as her business, Mangrove Resort Subic.

‘SCAM ALERT – PLEASE READ and SHARE. We have been informed of a fake Facebook page pretending to be Mangrove Resort Subic and illegally using our name and photos to scam guests,’ she wrote.

The actress stressed that her resort does not process transactions through unofficial channels.

‘We DO NOT accept payments through unofficial pages. We ONLY have ONE official Facebook page. Any similar pages are FAKE and NOT affiliated with us!’ she added.

Panganiban urged the public to remain cautious when dealing with suspicious online transactions.

‘DO NOT send payments, personal details, or booking information to any suspicious page. DO NOT click unknown links or entertain offers that seem too good to be true. Always verify by contacting us through our official page or direct contact details,’ she said.

The post included an official statement from Uy Coronel and Villamor Law Offices, which was hired by the actress as they plan to coordinate with authorities to address the issue.

‘If you have been contacted or victimized, please report immediately and inform us. We are currently working with authorities regarding this matter. Stay alert and help us protect others by sharing this post,’ Panginiban noted.

According to the law firm, the fraudulent page has been actively responding to inquiries and accepting payments without the resort’s knowledge or consent, with reports that several individuals have already been scammed.

Meanwhile, Panginiban has been generating online buzz following her daring role opposite Mylene Dizon, in which they play lesbian lovers in the Prime Video’s new series ‘The Silent Noise.’

Cebu’s island of Mactan has welcomed a new hotel development with the opening of Fairfield by Marriott Cebu Mactan, located within the newly launched Mahi Center in Lapu-Lapu City.

appleone group

The property expands Marriott International’s presence on the island, complementing existing developments such as Sheraton Cebu Mactan Resort, also developed by AppleOne Group. Positioned a short drive from Mactan-Cebu International Airport, the hotel offers convenient access for both business and leisure travelers visiting the Visayas.

Positioned within Mactan’s economic zone

appleone group

Fairfield by Marriott Cebu Mactan is located in Barangay Ibo, Lapu-Lapu City, within the Mactan Economic Zone, placing it near key commercial and industrial hubs.

The hotel forms part of Mahi Center, a mixed-use development by AppleOne Group that integrates retail spaces, offices, and the nine-storey hotel. This setup allows guests access to dining, workspaces, and services within a single complex.

‘With Mahi Center taking shape, we knew the success of this ecosystem would be driven by the strength of our partnerships. The question was who we could trust to welcome the world to it-and the answer was Marriott International,’ said Samantha Manigsaca, Director and Vice President for Hospitality at AppleOne Group.

‘What drew AppleOne to Marriott was the recognition that we share the same values-a strong commitment to people, quality, and building something that earns trust over time. The partnership is grounded in that shared foundation,’ she added.

‘As Lapu-Lapu City continues to welcome more travelers, investors, and events, there is a growing need for hospitality experiences that reflect the ambition of the destination.’

appleone group

The development is also positioned as a PEZA-accredited mixed-use hub, integrating business, retail, and hospitality components within one site, as outlined in the launch of Mahi Center as a PEZA-accredited lifestyle and business hub.

appleone group

Its location also provides proximity to the Mactan Export Processing Zone, while remaining accessible to leisure destinations such as beaches, dive sites, and cultural landmarks across the island.

Guest rooms designed for work and rest

The hotel features 196 guest rooms across three categories: Standard Twin, Standard Queen, and Deluxe Queen.

appleone group

Room layouts are designed to accommodate both business and leisure stays, with designated areas for work, rest, and storage. The interiors draw from Fairfield’s brand concept, which emphasizes simplicity, functionality, and comfort.

‘The Fairfield brand is widely recognized around the world and is rooted in Marriott International’s history, which will mark its 100th year in 2027. It reflects values of simplicity, balance, and comfort-qualities we believe are well suited for both business and leisure travelers in Mactan, Cebu,’ said Bruce Winton, Area General Manager, Philippines at Marriott International.

Facilities for meetings and events

Fairfield by Marriott Cebu Mactan includes more than 250 square meters of meeting and event space, which can be configured into smaller venues for different group sizes.

These spaces are equipped with audiovisual capabilities and supported by on-site coordination teams for corporate meetings, training sessions, and social events. Catering services are available, with customizable menu options depending on event requirements.

Dining concept inspired by local flavors

The hotel’s all-day dining restaurant, DAVOS, is set to open this month. The restaurant’s name draws from the Cebuano word ‘dabos,’ referring to abundance.

Led by Executive Chef Marcel Ramos, the menu follows a ‘Coastal Filipino’ approach, incorporating regional ingredients and flavors into contemporary dishes. The restaurant highlights seafood and locally sourced produce, reflecting Mactan’s coastal setting.

Supporting tourism and local employment

The development reflects continued investment in Cebu’s tourism and business sectors, particularly in Lapu-Lapu City.

Through its operations, the hotel contributes to local employment across hospitality and support services, while also engaging suppliers within the region. Developments such as Mahi Center highlight how integrated spaces are being positioned to support both tourism and business activity.

As Cebu continues to expand its Meetings, Incentives, Conferences, and Exhibitions (MICE) sector, additional accommodation and event infrastructure help support demand from both local and international markets.

A new addition to Mactan’s hospitality landscape

Fairfield by Marriott Cebu Mactan adds to the range of accommodations available on the island, offering a location that connects business districts, transport access, and leisure destinations.

Integrated within Mahi Center, the property provides a centralized base for travelers visiting Cebu for work or leisure.

More information is available through the Marriott Bonvoy website and mobile app.

Five alleged members of the New People’s Army (NPA) were arrested during a warrant service operation in Talisay, Negros Occidental, on Wednesday, following a recent deadly clash in the province.

The military operation was conducted along the Circumferential Road, Barangay Matab-ang of Talisay City, Negros Occidental, on Wednesday, the Police Regional Office Negros Island Region (PRO-NIR) said on Thursday.

Operatives were serving an arrest warrant for attempted murder against a suspect identified as alias ‘Glem’ when four additional individuals were apprehended after being found in possession of firearms and explosives, it said.

The arrested individuals were identified as alias ‘Glem,’ 48, of Zamboanga Sibugay and squad leader of the North Negros Front (NNF); alias ‘Dan,’ 25, of Himamaylan City, squad leader of Central Negros 2 (CN2); alias ‘Jud,’ 34, of San Carlos City; alias ‘Ju,’ 26, of Murcia; and alias ‘Je,’ 57, of Bacolod City.

Both ‘Glem’ and ‘Dan’ are listed on the Periodic Status Report (PSR) of wanted personalities, the police said.

Authorities said some of the suspects reportedly had visible body wounds, which led them to believe the group was previously involved in an armed encounter with troops of the 79th Infantry Battalion (79IB) in Toboso, Negros Occidental, on Sunday.

Authorities recovered four short firearms, live ammunition, and explosive devices from the suspects, the PRO NIR said.

The operation was led by the Regional Intelligence Division (RID) of PRO-NIR in coordination with the Criminal Investigation and Detection Group Regional Field Unit (CIDG-RFU), the Regional Intelligence Unit (RIU), the Regional Mobile Force Battalion (RMFB), the 6th Special Action Battalion of the PNP Special Action Force (6th SAB, PNP SAF), the Talisay City Component Police Station (Talisay CCPS), and the 79th Infantry Battalion (79IB) of the Philippine Army.

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.

Happiness is often shaped not by grand milestones, but by everyday choices to move forward, help others, and create meaning despite life’s challenges. Through Happiest Pinoy, Cebuana Lhuillier continues to spotlight Filipinos whose stories reflect quiet resilience and purposeful optimism-demonstrating that even the simplest moments can inspire hope and positive change across communities. More than a recognition platform, Happiest Pinoy has grown into a nationwide advocacy that highlights how personal strength and service to others can create lasting impact.

Cebuana Lhuillier’s Happiest Pinoy winner continue to inspire through #SimpleJoysPH

As the initiative evolves into the digital space through #SimpleJoysPH, the journeys of past winners continue to resonate-showing how small acts of courage, gratitude, and kindness can influence others in meaningful ways.

One such story is that of Zacarias Mansing, the 2025 Happiest Pinoy awardee, whose life journey reflects how adversity can be transformed into purpose.

In 2012, Zacarias’s life changed dramatically after a car accident left him paralyzed from the chest down. What could have been defined by loss instead became a turning point. Choosing not to be limited by his circumstances, he redirected his experience into service-becoming a socio-civic volunteer, education advocate, and motivational speaker. Guided by his personal mantra, ‘Making a Difference Despite Disability-Inspiring People, Instilling Hope,’ Zacarias has consistently demonstrated how determination and optimism can create impact far beyond one’s own circumstances.

For Cebuana Lhuillier President and CEO Jean Henri Lhuillier, stories like Zacarias’s reflect the deeper purpose of the initiative. ‘Happiest Pinoy highlights Filipinos who turn life’s challenges into opportunities to uplift others. Zacarias’s journey reminds us that happiness is not about circumstance-it is about choosing purpose, creating impact, and finding meaning in even the simplest moments.’

Since receiving the recognition in 2025, Zacarias has continued to expand his advocacy. His Books for Kids Project, which he launched in 2017, has now reached over 50,000 students across 300 public schools in Negros Oriental, promoting literacy while advancing awareness on disability inclusion. Through partnerships with schools and organizations, he delivers talks on resilience, leadership, and positive self-image-reaching diverse audiences from OWWA scholars to aspiring educators, school leaders, and senior high school students. His work reflects how individual purpose can translate into community impact.

For Zacarias, the recognition marked not an endpoint, but a renewed commitment to serve. He finds fulfillment in moments of gratitude, in supporting learners through education initiatives, and in seeing how encouragement can help others recognize their own potential. His experience reinforces a simple but powerful insight: meaningful impact often begins with small, intentional actions.

As Happiest Pinoy 2026 enters a fully digital chapter through #SimpleJoysPH, Cebuana Lhuillier continues to spotlight how everyday acts of resilience, generosity, and hope can create meaningful impact beyond individual stories. By amplifying journeys like Zacarias’s, the initiative underscores a simple but powerful truth: happiness is not defined by perfect circumstances, but by the choice to move forward with purpose and inspire positive change in others-even through life’s simplest moments.

For decades, the provinces of Laguna, Cavite, and Batangas have anchored national production, supported by its deep industrial ecosystems, infrastructure networks, and sustained investor participation – but as foreign investment continues to concentrate in these corridors, land constraints are tightening and manufacturers are increasingly requiring larger, more flexible sites.

TARI Estate Central Luzon

TARI Estate, a 384-hectare industrial estate in Tarlac, is part of Central Luzon’s expanding manufacturing corridor, reinforcing Aboitiz Economic Estates’ role in building the Philippines’ industrial landscape through integrated platforms that support long-term production capacity

In response, industrial activity is extending into Central Luzon – strengthening national capacity while expanding the geographic base of production. This shift introduces greater redundancy and optionality for supply chain operations.

Within this shift, the region is becoming more integrated into a Luzon-wide industrial network supported by improving infrastructure connectivity and a deepening economic base. This is enabling manufacturers to distribute production, logistics, and support functions across multiple nodes within a single connected corridor, improving resilience and long-term operational flexibility.

For foreign manufacturers, this evolution supports supply chain diversification across both domestic and regional networks, reducing overconcentration in traditional industrial corridors and strengthening resilience against disruption. It opens up a broader set of scalable, multi-phase locations across the Philippines, allowing firms to distribute risk while maintaining operational efficiency.

Aboitiz Economic Estates, through developments such as TARI Estate, is positioned at the center of this transition by delivering integrated industrial platforms that align land, infrastructure, and long-term operational needs-supporting a more distributed and risk-balanced industrial footprint within an expanding regional value chain.

From Industrial Clusters to a Connected System

Industrial expansion is increasingly shaped by the need for scale, redundancy, and logistics flexibility. This is accelerating the development of a more distributed but connected Luzon industrial corridor, where production capacity is spread across multiple nodes while remaining operationally linked.

Central Luzon is part of this system, supported by NLEX, SCTEX, and TPLEX, which strengthen integration with Metro Manila, Northern Luzon, and key export gateways. Travel times between Tarlac and Metro Manila now allow for efficient coordination across supply chains, reinforcing the region’s role within a wider production network.

The region’s economic base continues to expand, supported by steady industrial growth, sustained investment inflows, and the parallel development of commercial and institutional ecosystems. This deepening structure supports both manufacturing activity and long-term workforce stability.

Within this context, Aboitiz Economic Estates develops integrated platforms where land, utilities, and estate operations function as a single system, reducing friction for locators while enabling scalable industrial growth.

TARI Estate at the Forefront of an Emerging Industrial Corridor

TARI Estate, a 384-hectare masterplanned industrial estate in Tarlac, is located within Central Luzon’s expanding manufacturing corridor and offers direct access to NLEX, SCTEX, and TPLEX, with connectivity to major ports of entry such as Subic Port, Port of Manila, and Clark International Airport.

The estate is designed for scalable industrial use, supporting light to medium manufacturers requiring large contiguous land and phased expansion capacity. Integrated utilities across power, water, and construction systems are delivered within the Aboitiz ecosystem to ensure operational continuity from setup through full-scale operations.

Within the broader Luzon industrial system, TARI Estate adds immense capacity to an evolving corridor, supporting the gradual extension of manufacturing activity beyond traditional southern hubs while maintaining established standards of infrastructure reliability.

‘What we are seeing is not a shift away from established industrial centers, but the natural expansion of a system that has reached scale,’ said Rafael Fernandez de Mesa, President and CEO of Aboitiz Economic Estates and Aboitiz Land. ‘As constraints emerge in mature corridors, growth is extending into new areas that can support the next phase of industrial development. Central Luzon is becoming a key part of that evolution.’

TARI Estate is advancing toward locator-ready operations, with its first phase fully sold and developed. Anchor locators Ajinomoto and Coca-Cola are moving forward with development activity, reflecting strengthening industrial uptake and consumption-led domestic demand. As the estate builds toward full operational readiness, early entry by major investors and their supply chains sustain momentum into Phase 2.

Built on Proven Industrial Execution

TARI Estate builds on more than three decades of industrial estate development under Aboitiz Economic Estates. Across its portfolio, the platform hosts over 260 locator companies, has enabled more than $2.8 billion in investments, and supports over 100,000 jobs. It operates within the Aboitiz integrated infrastructure ecosystem spanning power, water, construction, and estate management systems, with utilities and services aligned to phased industrial demand to support scalable operations over time.

This track record reflects a consistent operating model anchored on integrated infrastructure delivery, disciplined estate governance, and long-term alignment with locator expansion. As this model extends into Central Luzon, it enables a more integrated development approach where workforce readiness, infrastructure build-out, and operational scaling advance in parallel with the estate’s growth.

Aboitiz Economic Estates integrates human capital development across the estate lifecycle, aligning skills formation and local employment pathways with each stage of industrial development. As construction progresses and locator participation increases, local communities gain access to employment in construction and support services, while a steadily deepening talent base develops alongside future manufacturing and logistics needs.

For locators, this supports smoother onboarding and more predictable scaling, with workforce availability developing alongside infrastructure and demand. For the broader local economy in Tarlac, it enables participation across multiple stages of development while creating sustained pathways into manufacturing, logistics, and services as industrial activity expands.

Early Access Advantage in an Emerging Industrial Landscape

Central Luzon’s industrial base is growing, with clusters emerging across food processing, beverages, electronics, and light manufacturing. The structure of the corridor continues to evolve, influenced by early locational decisions that will shape its long-term industrial geography.

This is already reflected in the entry of manufacturers such as Ajinomoto and Coca-Cola within TARI Estate, economic and investment signals of shifting site selection priorities toward scale, connectivity, and expansion flexibility.

In this environment, early investments play a defining role in shaping the ecosystem as it develops.

Shaping the Next Phase of Philippine Manufacturing

Philippine manufacturing continues to attract sustained foreign direct investment across semiconductors, electronics, food and beverage, chemicals, automotive, and garments, reinforcing the country’s role in regional supply chains.

In response, industrial geography is expanding. Growth is extending into emerging areas capable of supporting scale, workforce demand, and increasing logistics complexity-reflecting a broader diversification of national production capacity.

Within this landscape, TARI Estate is leading this shift, adding structured capacity in Central Luzon while maintaining the operational standards established in mature industrial hubs.

Aboitiz Economic Estates continues to support this transition by linking proven ecosystems with new growth areas, ensuring continuity as the country’s industrial footprint evolves. What is taking shape is a more integrated national system, where Central Luzon is emerging as a second engine of growth alongside the south, helping shape and build the Philippines’ industrial future.

Total insured deposits in the banking system posted a double-digit growth in 2025, which state-run insurer Philippine Deposit Insurance Corp. (PDIC) attributed to expanded protection for depositors.

PDIC data showed insured deposits had climbed to P5.2 trillion last year, an increase of P1.5 trillion, or 40.9 percent, from P3.7 trillion in 2024.

The agency said most of the gain stemmed from the doubling of maximum deposit insurance coverage to P1 million from P500,000 on March 15, 2025. This policy shift accounted for P1.3 trillion, or 86.1 percent, of the rise.

Fully insured accounts increased to 169.2 million at end-2025, up 20.9 percent from 140 million a year earlier, representing 98.8 percent of all deposit accounts nationwide in the Philippines.

Total deposits

Total domestic deposits reached P21.7 trillion at year-end, rising 7.1 percent, or P1.4 trillion.

Individual depositors drove the expansion, contributing P812.1 billion, or 56.4 percent of the increase, followed by private corporations with P334.8 billion, or 23.2 percent.

‘This sharp increase not only reflects sustained public confidence in the banking system but also signals a significantly stronger financial safety net for depositors,’ the PDIC said.

The PDIC has tapped the World Bank to study the possibility of implementing a ‘risk-based’ pricing mechanism for fees that banks pay to insure deposits, in a bid to deter lenders from making risky investment moves.

Premium cost

At present, the PDIC collects a flat annual rate of one-fifth of 1 percent of the total deposit liability of a bank. Lenders pay the state insurer so that depositors can be reimbursed up to a certain amount if a bank is ordered closed by the Bangko Sentral ng Pilipinas (BSP).

But the PDIC also has five years from 2022-the year its revised charter took effect-to conduct a study on the need to establish a risk-based assessment system, which could result in higher premiums to be paid by banks that engage in riskier investment activities.

The result of the study will have to be reported to Congress.

BSP Governor Eli Remolona Jr. earlier said that beefing up the protection for bank deposits would unlikely create a moral hazard, as he stressed the need to make the local deposit insurance system ready for systemic risks.

The Sandiganbayan on Wednesday issued a precautionary hold departure order (PHDO) against former Speaker Martin Romualdez, a travel restriction sought by the Ombudsman in connection with the case it is preparing against the lawmaker and several others being linked to the flood control corruption scandal.

The anti-graft court’s Seventh Division granted a petition filed earlier that day by the Office of the Ombudsman through a special panel of investigators, who said Romualdez ‘presents an exceptionally high probability of flight.’

The investigators, led by Deputy Special Prosecutor Omar Sagadal, said they had already made a preliminary finding of probable cause against Romualdez for plunder, direct and indirect bribery, and money laundering.

‘Evade arrest’

‘The complaint-affidavit involves the alleged kickback scheme tied to flood control projects, purportedly masterminded by the respondent (Romualdez), with the total amount of such kickbacks reaching approximately [P56 billion],’ they said in their petition dated April 20.

In the PHDO it issued, the Seventh Division said it found probable cause ‘to believe that respondent will depart from the Philippines to evade arrest and prosecution of crime/s being charged against him.’

The court ordered the Bureau of Immigration to include Romualdez in its hold-departure list.

The Leyte congressman, who is also a cousin of President Ferdinand Marcos Jr., earlier sought clearance from the House leadership to be in Singapore from April 20 to May 4 ‘for a long overdue follow-up on my angioplasty surgery.’

Speaker Faustino ‘Bojie’ Dy III granted his predecessor’s request for a travel clearance on Tuesday.

‘Other people’s corruption’

On the same day, however, Ombudsman Jesus Crispin Remulla held a press conference to say he was blocking Romualdez’s overseas trip.

Remulla also disclosed that his office had taken initial steps to secure a freeze order on the former Speaker’s assets, and that a plunder complaint may be filed against him in May.

Later in the day, Romualdez released a video defending himself against allegations implicating him in the public works mess and in the controversial insertions made in the 2025 national budget.

‘I will not be the fall guy for other people’s corruption,’ said Romualdez, who stepped down two months into his second term as speaker in the current 20th Congress, after he was dragged into the corruption scandal.

He stressed that he was not part of the bicameral conference committee or the ‘small committee’ that introduced changes to the budget bill.

The insertions, he said, were decided by Sen. Francis ‘Chiz’ Escudero, then Senate President, and former Ako Bicol Rep. Elizaldy ‘Zaldy’ Co, then House appropriations chair.

Also on Wednesday, Sen. Panfilo Lacson said Romualdez should have appeared before the Senate during its inquiry into the flood control projects.

Lacson, who heads the Senate blue ribbon committee, said the former House leader should have ‘heeded [our] invitations’ to attend the panel’s hearings, especially after Co, in a series of video recordings in November last year, claimed that Romualdez took part in ‘mangling’ the 2025 budget.

No ‘modus’ in Senate

Sen. JV Ejercito also on Wednesday noted that the ‘modus of selling [infrastructure] projects’ was prevalent among ‘contractors’ – a portmanteau of congressmen and contractors.

There is no way the Senate could ‘gain’ from this scheme, Ejercito said. ‘It’s not that I’m defending the Senate, but you’ll never hear about that here [in this chamber].’

‘I hope those involved will be held accountable,’ the senator said.

A former member of the chamber, Ramon ‘Bong’ Revilla Jr., is currently detained over graft and malversation charges in connection with the flood works mess. The former senator and two others had also been implicated in the 2013 pork barrel scandal.