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Facing a banged-up La Salle side that’s missing two key cogs, University of the Philippines coach Goldwin Monteverde said his team’s approach remained the same ahead of Sunday’s rivalry game.

‘No matter who’s gone from their end, it doesn’t matter. We approached this game the same way because we know La Salle,’ Monteverde said.

True enough, the defending champions Fighting Maroons saw their four-game winning streak snapped at the hands of the Green Archers, 72-69, in a rematch of last year’s finals.

‘They respond well with whatever’s happening. They’re also used to winning with their championship experience.’

UP may have prepared for La Salle’s possible adjustments without forward Mason Amos and guard Kean Baclaan, but the Fighting Maroons weren’t ready for the Green Archers’ rising stars.

Luis Pablo, who played sparingly for UP before transferring to La Salle last year, had his breakout game for the Archers as a starter in place of Amos with a game-high 14 points and six rebounds.

Jacob Cortez and EJ Gollena, meanwhile, joined forces in the backcourt to fill the void left by Baclaan with 12 points each to help La Salle gain a share of third place with UP and Ateneo with similar 4-3 slates at the end of the first round of eliminations.

Monteverde was not surprised with how coach Topex Robinson’s wards responded.

‘They know how to win. We never came into this game feeling [too] confident. We prepared like we usually do.’

Three members of the board of the Government Service Insurance System (GSIS), who called last week for the immediate resignation of the pension fund’s president, Jose Arnulfo ‘Wick’ Veloso, have stepped down, citing deep divisions over his investment strategies, which they claimed had resulted in losses of P8.8 billion.

In letters to President Ferdinand Marcos Jr. dated Oct. 14 and 15, which. was obtained by the Inquirer, GSIS trustees Ma. Merceditas Gutierrez, Emmanuel Samson, and Rita Riddle tendered their resignations, effective upon the appointment of their successors.

The development marked a dramatic point in a months-long rift within the state pension giant, which manages nearly P2 trillion in assets for millions of government workers.

According to appointment papers dated Oct. 17 seen by the Inquirer, the seat vacated by Gutierrez, a former ombudsman under the Arroyo administration who chaired the GSIS legal oversight committee, will be filled by current board member Garry de Guzman, whose position, in turn, will be taken by Cenon Cruz Audencial Jr.

Samson, who led the pension fund’s risk oversight committee, will be succeeded by Enrico Gregorio Molina Trinidad.

Both Audencial and Trinidad will serve as acting board members representing the banking, finance, investment, and insurance sectors, the documents showed.

Riddle, the former chair of the GSIS audit committee, will be replaced by Gilbert Tan Sadsad.

The resignations came just days after the three, along with one other incumbent member of the nine-member board, sent a sharply worded letter to Veloso demanding his ‘immediate and irrevocable’ resignation over what they described as ‘poor investment decisions’ that allegedly led to billions of pesos in losses.

The letter was also signed by current board member Evelina Escudero and former trustees Jocelyn de Guzman Cabreza and Alan Luga.

The signatories had alleged that the fund’s top executive had pursued risky investments ‘marked by a disturbing lack of transparency.’

They cited what they described as ‘a pattern of actions seemingly designed to bypass proper governance,’ including the alleged practice of splitting investment transactions – a ‘clear tactic,’ they wrote, intended to evade the mandatory board review for investments exceeding P1.5 billion.

They accused Veloso, who recently returned to his post after a preventive suspension ordered by the Office of the Ombudsman, of ‘fabricating issues and weaponizing administrative procedures to retaliate against [board] members exercising their fiduciary duty of oversight.’

In her resignation letter, Gutierrez said ‘a productive and tenable working relationship’ with Veloso was ‘no longer achievable.’

Samson cited ‘numerous’ policy differences with the GSIS chief, while Riddle pointed to what she called an ‘absence of transparency and shared accountability.’

Misleading claims

Veloso said he would remain in office as long as he retained the trust of President Ferdinand Marcos Jr.

In an interview with dzMM Radio on Monday, he dismissed the accusations as malicious, particularly the claim that he had split investments to avoid board scrutiny.

‘Investments [within allowable amounts] can be done every day. It gives the flexibility to the team to be able to take advantage of market volatility,’ he said in Filipino. ‘If you don’t understand investing, we will have issues with all of that.’

‘That’s why I’m encouraging them [trustees], because of different backgrounds, to be able to clearly study and allow management to be able to execute its role. Everything there is transparent,’ he added.

Veloso also said the fund’s financial performance ‘speaks for itself,’ citing figures as of August 2025.

He pointed to the total assets of GSIS climbing to P1.92 trillion and a total income of P231.06 billion, with net income reaching P100.02 billion.

But in a statement dated Oct. 19, the signatories of the letter to Veloso said the ‘narrative of success’ being advanced by the GSIS chief was ‘predicated on misleading metrics and structural inflows that are unrelated to active investment management.’

‘The reported growth in the Fund’s assets is significantly inflated by non-cash, unrealized gains from the annual revaluation of our property portfolio,’ they said.

Suspension

‘Furthermore, a substantial portion of reported income is derived from the increase in mandatory premium collections. As a fund with a captured market, this growth is an automatic, structural feature, not a result of strategic financial management,’ they pointed out.

In July, Veloso and several other GSIS officials were suspended by the Ombudsman after an anonymous complaint questioned the fund’s P1.45-billion investment in Alternergy Holdings Corp. The other GSIS officials were Executive Vice Presidents Michael Praxedes and Jason Teng, Vice Presidents Aaron Samuel Chan and Mary Abigail Cruz-Francisco, officer Jaime Leon Warren, and acting officer Alfredo Pablo.

The six-month suspension, the ombudsman said, was intended to prevent those accused from influencing the investigation.

The ombudsman’s order was lifted in September after the anti-graft body determined there were ‘insufficient grounds’ to believe the officials’ continued stay in office would affect the inquiry.

Background

Veloso was the president and CEO of the Philippine National Bank (PNB) before his appointment to GSIS.

He was an international banker and was appointed as the first Filipino CEO at HSBC Philippines until he transferred to PNB in 2018.

Meanwhile, Gutierrez was appointed Ombudsman in December 2005 but resigned from her position in April 2011, almost two weeks before she was due to face an impeachment hearing.

In March 2011, the House of Representatives voted to impeach Gutierrez after she was accused of betraying public trust by failing to act on corruption claims made against former President Gloria Macapagal-Arroyo, her husband, and military and government officials suspected of corruption.

The Bangko Sentral ng Pilipinas approved simpler prudential regulatory guidelines in establishing lslamic banks and Islamic banking units, an industry seen as a potential driver of financial inclusion in the country.

Islamic banking, as defined in Republic Act 11439, refers to a banking business with objectives and operations that do not involve interest, which is prohibited by the Islamic or Shari’ah Law. An Islamic bank conducts its business following the principles of the Shari’ah.

Under the amended rules, the BSP removed the ‘reasonable transitory period not exceeding five years’ that was previously meant to check the compliance of new Islamic banks and banking units with the minimum capitalization requirement.

New Islamic banks and banking units are also no longer required to submit their capital buildup plan no later than six months before the end of the transitory period.

Continuing requirements

But these entities would still have to submit prudential reports to the BSP. There would be an observation period of up to three years from the beginning of Islamic banking operations to allow them to familiarize with the data requirements and prescribed guidelines and to make the necessary system adjustments.

At the same time, the proposed amendments would just require an Islamic banking unit of a conventional bank to just consolidate its liquidity positions, activities and transactions into the bank-wide reports. This is instead of submitting a separate report to the BSP.

The opening of a new branch or branch-lite unit will be subject to the payment of the prescribed processing fees based on the banking category. However, the opening of Islamic banking units in existing branches or branch-lite units will not be subject to any fee.

Unbanked population

BSP data showed that 29 percent of the cities and towns in the Philippines remain unbanked. The Bangsamoro Autonomous Region in Muslim Mindanao is the most unbanked region.

Islamic banking and finance can promote inclusive finance by making it available to groups that avoid using existing conventional banking facilities due to their faith.

It can also be attractive to non-Muslims, particularly investors within or outside the Philippines who may be looking for new asset classes, instruments and products to diversify their portfolios. /dda

The Department of Budget and Management (DBM) has warned unscrupulous bidders in government projects that their schemes will no longer work under the New Government Procurement Act (NGPA).

Budget Secretary Amenah Pangandaman said the law, Republic Act (RA) No. 12009, mandates the disclosure of beneficial ownership information, requiring companies participating in public procurement to disclose the identities of individuals who actually own, control, or exert significant influence over them.

RA 12009 was enacted on July 20, 2024, and its implementing rules and regulations took effect on Feb. 25, 2025.

‘The disclosure of beneficial ownership is a powerful feature of the new law because it ensures that conflicts of interest in public procurement are avoided,’ Pangandaman said in a statement on Monday.

‘We are closing the doors on corruption and collusion in bidding for government projects. Under the NGPA, the old tricks of palit-pangalan (changing names), palit-ulo (changing heads), and dummy company owners will no longer work,’ she said.

Pangandaman said the disclosure of beneficial ownership will strengthen integrity and full transparency in the public procurement process, especially since 65.8 percent of bidders in public procurement share common owners based on a 2023 study conducted by the Government Procurement Policy Board-Technical Support Office.

The NGPA, hailed as the biggest anticorruption measure in the country, was the harmonized version of Senate Bill No. 2593 and House Bill No. 9648, both of which sought to address loopholes in the current government procurement system for a more economical and responsive process.

Procurement modes

Another significant feature of the NGPA is the provision of 11 new modalities of procurement that will give government agencies greater flexibility in choosing ways to procure goods and services.

These are competitive bidding, limited source bidding, competitive dialogue, unsolicited offer with bid matching, direct contracting, direct acquisition, repeat order, small value procurement, negotiated procurement, direct sales, and direct procurement for science, technology, and innovation.

Under the old procurement law, the default method was competitive bidding, while the alternative methods were allowed only in exceptional cases.

Under the NGPA, the Government Procurement Policy Board (GPPB) is also authorized to approve changes in the system to adapt to advancements in modern and emerging technologies.

The GPPB said this provision ensures that the procurement system remains dynamic and capable of integrating innovative solutions, thereby enhancing the overall efficiency and effectiveness of public procurement.

This fit-for-purpose procurement approach that allows diverse procurement modes provides government agencies with the ability to choose the best from various procurement methods based on specific needs of each project, ensuring best value for public funds while maintaining transparency and accountability, according to the GPPB.

The Department of the Interior and Local Government (DILG) warned local officials against sexual misconduct.

The warning came in a statement on Tuesday, days after a Manila City council member alleged that she was sexually harassed by a fellow councilor.

‘The DILG reiterates that any act of sexual harassment or misconduct, if proven, is a serious violation of the law and of the ethical standards expected of public officials,’ the department said.

The agency particularly cited the Code of Conduct and Ethical Standards for Public Officials and Employees (Republic Act No. 6713) and the Safe Spaces Act (RA No. 11314).

The DILG did not name the Manila city councilor alleged to have committed sexual misconduct.

However, at a meeting of the Manila City Council last Thursday, Councilor Eunice Castro accused her colleague, Ryan Ponce, of sexually harassing her, for which he apologized to her during the same session.

‘While the Department is monitoring the situation, it defers to the appropriate authorities and concerned local government units to determine the facts of the case and to initiate the proper course of action,’ the DILG said of Castro’s statements.

For her part, House women and gender equality committee chairperson and Laguna 1st District Rep. Ann Matibag called for an investigation into the councilor’s accusations. /apl -Aaryanna Arago, INQUIRER.net intern

The Philippine Basketball Association (PBA) together with its official partner ArenaPlus, signs a 3rd year renewal of partnership for the league’s golden anniversary, marking a historic and impactful partnership between the two leading entertainment brands. For its 50th golden anniversary, the PBA held its pre-season press conference and signing ceremony at Bonifacio Global City, Taguig last October 1. Known to be Asia’s first professional basketball league, the PBA has always been a staple when it comes to Philippine basketball with aspiring professional athletes making their dreams a reality by joining the league. One of the highlights during the event was the renewal of partnership between PBA and ArenaPlus, a PAGCOR licensed and the Philippines’ best online sportsbook. ArenaPlus is the official sports entertainment gateway of the PBA dedicated to provide everyone with an enjoyable basketball experience.

Commissioner Mr. Willie O. Marcial and Mr. Rafael Jasper Vicencio of ArenaPlus, signed the agreement of partnership for the upcoming golden season.’Thank you always for ArenaPlus’ support in the PBA’ said the commissioner while they shook hands, a statement of strong partnership between the two largest entertainment brands in the country. This season will feature three conferences in a 16-month schedule namely; the Philippine Cup, Commissioner’s Cup, and the Governors’ Cup. The PBA’s commitment in supporting the Gilas Pilipinas Men’s National Team and preparing them for the FIBA World Cup qualifiers and the 2026 Asia Games in Japan are the main reasons for the league to extend its season through late 2026.

‘Manila Clasico’ kicked off on October 5 at the SMART Araneta Coliseum, which is known to PBA fans as the rivalry between Barangay Ginebra San Miguel and Magnolia Chicken Timplados Hotshots, the game can be accessed through the ArenaPlus app or website.

With the golden season promising to provide an exciting sports entertainment experience catering to millions of viewers and enthusiasts of the game, the live streaming services of ArenaPlus comes with advanced live stats and interactive game interfaces aim to enhance the viewers experience, by making every game accessible and enjoyable for everyone. The future of Philippine basketball looks brighter than ever. The ceremonial signing proves that with the collaboration of the league with ArenaPlus, the fans will get to watch their favorite teams play, giving importance to the innovation in sports and the commitment of both brands to deliver top-tier entertainment in today’s digital age. The strong partnership will not only bring exciting ventures but will broaden the vision of keeping the game at the heart of Filipino sports culture.

A village councilman was shot dead in broad daylight at 10:30 a.m. Tuesday, October 21, at the bus terminal in Barangay Malinis, Lamitan City, Basilan province.

Lt .Col Elmer Solon, chief of the Lamitan police, identified the victim as Nadzri Asdana Tarahin, 40, an Islamic teacher and a councilman of Barangay Baguindan in Tipo-Tipo town, Basilan.

Police said Tarahin was waiting at the bus terminal when a gunman, wearing a jacket, approached and shot him.

After the incident, the gunman immediately fled on board a black pick-up vehicle. Another individual believed to be the look-out also fled on board a single motorcycle.

Police immediately launched a hot pursuit operation that led to the arrest of two suspects, both residents of Barangay Bohe Pahu, Ungkaya Pukan in Basilan.

Recovered from the suspects’ possession were two caliber-45 pistols, magazines and live ammunition, one white ADV motorcycle with no plate number and thirty-four heat-sealed plastic sachets of suspected shabu weighing two grams with an estimated market value of P13,400.

Investigators singled out ‘revenge’ as the motive for the killing.

Police were still in pursuit for another suspect known as alias ‘Nas,’ but did not elaborate what his role was in the crime.

The arrested suspects have been placed under the custody of Lamitan City Police Station and will be charged with murder, violations of Republic Act 10591 also known as the Comprehensive Firearms and Ammunition Regulation Act and R.A. 9165 or the Comprehensive Dangerous Drugs Act of 2002. /jpv

Playing all-Filipino without its top local, Cignal pulled off the biggest upset in the tournament after stopping PLDT’s longstanding streak on Tuesday night in the PVL Reinforced Conference.

After parting ways with Greek Eva Chantava and missing star hitter Vanie Gandler due to an undisclosed injury, the Super Spikers turned to PVL on Tour MVP Erika Santos and Ishie Lalongisip to sweep the High Speed Hitters, 25-17, 25-22, 25-21.

Santos delivered 17 points all from attacks, including a personal 4-0 run for a 23-20 lead in the third before Tin Tiamzon’s kill and Heather Guino-o’s ace clinched Cignal’s first win in three outings in Pool A.

Lalongisip had 15 points, 11 excellent receptions, and eight digs to snap PLDT’s 15-game winning run dating back to their two consecutive titles in the PVL on Tour and Invitational.

‘It’s really nice to see them step up. I’m sure they’ve missed playing like that for a long time, especially going up against PLDT. I’m super proud and happy for them,’ said Cignal coach Shaq Delos Santos in Filipino.

Setter Gel Cayuna dished out 20 excellent sets that went with six points. Tiamzon chipped in nine points, while Rose Doria-Aquino added eight. Libero Dawn Catindig protected the floor with 18 digs and eight receptions.

PLDT slid to a 2-1 record with Savi Davison and Russian Anastasiia Bavykina leading the charge with 14 and 10 points, respectively.

Cignal seeks to keep its momentum going against winless Nxled on Saturday at Ynares Center Montalban, while PLDT takes on the unbeaten Farm Fresh on the same day.

The Super Spikers are still waiting for new import Katrin Trebichavska’s clearance to play.

A support group for political prisoners on Tuesday criticized Interior Secretary Jonvic Remulla for his ‘insulting’ remark that personalities accused in the flood control anomalies could choose where they would be jailed.

Human rights group Kapatid slammed Remulla after he showed media on Monday the new Quezon City Jail, saying it could house suspects in the flood control scandal if charges are filed in the Sandiganbayan.

He described the newly built city jail as the ‘most convenient’ due to its proximity to the antigraft court and added that those indicted could ‘petition where they want to be detained.’

‘Insult to justice’

For Kapatid, the statement is ‘not only blatantly illegal but [also] a callous insult that trivializes the severity of corruption.’

The group cited Rule 113, Section 3 of the Revised Rules of Criminal Procedure and the Bureau of Jail Management and Penology Manual, which mandate that detainees be housed ‘subject to court orders.’

‘These provisions ensure detention is based on proximity, not convenience or personal choice-especially for those facing serious corruption charges,’ Kapatid stressed.

Double standard in detention

It added that such statements send a ‘dangerous signal’ that the wealthy and influential may buy comfort while the poor are denied rights and dignity during imprisonment.

‘What kind of justice system allows those accused of stealing billions to choose their place of detention while political prisoners-many elderly and ailing-are left to rot in congested, filthy, and inhumane conditions, denied even the most basic rights?’ Fides Lim, Kapatid spokesperson, said.

The Independent Commission for Infrastructure, the fact-finding body investigating ghost or substandard public works projects, has recommended charges against 18 government officials, including former Ako Bicol partylist Rep. Elizaldy Co, over alleged irregularities in a P289.5-million project in Oriental Mindoro.

The Ombudsman has yet to act on the recommendations or elevate the case to the Sandiganbayan. /mcm/abc

Alex Eala suffered another first-round exit after succumbing to USA’s Claire Liu, 6-2, 4-6, 4-6, in the Guangzhou Open on Tuesday.

Eala blew a 3-1 lead in the third as Liu won five of the last six games, mounting a 40-0 lead in the 10th and final game.

The Filipino tennis ace cut it down to 40-30, only for Liu to end the match to advance to the round of 16.

The 20-year-old netter dominated the first set, but also squandered a 4-2 advantage in the second, as her World No. 305 opponent won four straight games to force a decider.

It was Eala’s second straight exit in the round of 32 after she was upset by Czech qualifier Tereza Valentova, 6-1, 6-2, in the Japan Open last week.

Eala will compete in the Guangzhou Open doubles with Ukrainian partner Nadiia Kichenok against Tang Qianhui of China and Emily Appleton of the United Kingdom on Wednesday afternoon.