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Valentin Vacherot beat his cousin Arthur Rinderknech 4-6, 6-3, 6-3 on Sunday to win the Shanghai Masters for the first title of his career after a stunning run from the qualifying rounds.

The 204th-ranked Vacherot, an unheralded 26-year-old, was the lowest-ranked tournament winner in ATP Masters 1000 history – and the first from the tiny Principality of Monaco.

‘Just crying, it’s just isn’t real what just happened. I’ve no idea what’s happening right now,’ Vacherot said moments after victory. ‘I think there are two winners today and just one family that won. I think for the sport of tennis this story’s just unreal.’

It was quite a performance, too.

He stunned 24-time Grand Slam champion Novak Djokovic in the semifinals to set up a final against the 30-year-old Rinderknech, who had downed four-time major finalist Daniil Medvedev, the 2021 US Open champion, in a remarkable semifinal of his own.

Before toppling Djokovic – owner of 100 career titles and among the greatest men’s players ever – Vacherot also beat tenth-seeded Holger Rune in the quarterfinals.

‘It’s only my fourth season on the tour. I think of all the work I’ve done,’ Vacherot said. ‘To win today is completely crazy, I just can’t believe it.’

He produced a serving masterclass in the third set, with three straight love holds and 15 consecutive points before finally losing a point in the eighth game with an unforced error.

Serving to stay in the match at 15-40 down, Rinderknech saved one match point but Vacherot wrong-footed him with yet another blistering forehand winner down the line to clinch victory.

He held his face in his hands in disbelief before walking to the net to hug his cousin and then rushing to his team box to share a long hug with coach Benjamin Balleret, who is his half-brother and is a former tennis player from Monaco.

Balleret’s career highlight was a defeat to tennis great Roger Federer in the early rounds of the Monte Carlo Masters in 2006.

Nineteen years later, Federer was in the Shanghai crowd watching as Rinderknech clinched the first set with an ace.

Balleret and Federer shook hands before Vacherot grabbed a red-and-white Monaco flag and displayed it on court. Then he wrote ‘Grandma and Grandpa would be proud’ on a courtside camera.

‘I tried to put it to one side that it’s my cousin, the guy that I’ve been growing up with,’ Vacherot said. ‘In the first set I didn’t bring my ‘A’ game and Arthur was playing better than me.’

Monaco’s biggest sporting star is Fomula 1 driver Charles Leclerc, who has won eight races among his 48 podiums.

Vacherot will shoot up the rankings and inside the Top 50 on Monday.

He secured an early break in the decider and then missed four break-point chances in the fifth game as Rinderknech got a reprieve. The Frenchman immediately took a three-minute medical timeout for massage treatment on his back and then his left shoulder.

But there was nothing he could do to stop his cousin’s momentum.

Rinderknech appeared troubled by heavy cramps and – after giving his runner-up speech – had to sit down as his cousin addressed the crowd.

They never played each other before on the professional tour, with Rinderknech winning their only meeting at a Futures tournament in 2018.

THE National Grid Corp. of the Philippines (NGCP) was allowed by the regulators to complete the 138-kiloVolt (kv) Nabas-Caticlan-Boracay transmission line project in August next year.

The P5.48-billion project is meant to reinforce the grid and upgrade existing facilities to support the growing power requirements of Boracay.

In a 12-page order, the Energy Regulatory Commission (ERC) granted NGCP’s motion to extend the estimated time completion of the transmission project to August 31, 2026, ‘taking into account both the technical realities on the ground and the legal obligations of NGCP under its franchise and the regulatory framework governing transmission projects.’

The NGCP was earlier directed by the commission to complete the project not later than May 31, 2025, six months after the directive was issued. The grid operator filed a motion last July to reverse the ERC ruling for lack of basis. It also asked to exempt it from paying the permit fees.

The commission said that the adjustment of timeline is ‘justified’ as its completion is necessarily subject to unforeseen factors such as site workability, right-of-way acquisition, procurement processes, and other construction challenges.

‘After due deliberation, through evaluation of all the evidence gathered, and appreciation of all the information gathered, the Commission, pursuant to its regulatory powers, hereby resolves to grant NGCP’s motion to adjust the project’s estimated time of completion to August 2026,’ the ERC said.

However, any further delay shall be subject to stricter regulatory scrutiny and possible penalties, it added.

The ERC denied NGCP’s request to exempt it from payment of permit fees worth P31,781,408.30. The said fee is in relation to the project and is collected by the ERC. The commission said it was ‘not convinced’ when the NGCP argued that its franchise exempted it from the payment of permit fees.

‘Tax exemptions are strictly construed against the taxpayer. For an exemption to be conferred, it must be clearly and distinctly stated in the language of law. The burden rests upon the party claiming the exemption to prove that it is in fact covered by the exemption so claimed which NGCP failed to do so,’ the ERC said adding that the tax provision outlines the taxes that NGCP is liable for or exempt from.

‘What was granted to NGCP was a franchise tax in lieu of all other taxes that maybe imposed on NGCP,’ the regulator said.

The NGCP was also directed to assume full responsibility for the operation, maintenance, and management of the reclassified assets-Avon-Caticlan 69kV line, the Caticlan Cable Terminal Stations, and the Caticlan-Boracay 69kV submarine cable.

The ERC decision was promulgated last October 8.

BAD loans incurred by banks grew 5.06 percent in the period ending July, according to the latest data on non-performing loans (NPLs) released by the Bangko Sentral ng Pilipinas (BSP).

The data showed that gross NPLs reached P453.24 billion in January to July, higher than the P431.23 billion posted in the same period last year.

‘Gross NPL represents the actual level of NPL without any adjustment for loans treated as ‘loss’ and fully provisioned,’ the BSP explained.

The bulk of these bad loans were held by universal banks (UBs) with P295.98 billion, a 7.65-percent increase from the P274.94 billion posted in the same period last year.

State-owned banks followed, posting P140.05 billion in bad loans as of July 2025. However, this was a 4.07-percent contraction from the P145.99 billion posted as of July 2024.

Government banks include the Land Bank of the Philippines, the Development Bank of the Philippines and the Al-Amanah Islamic Investment Bank of the Philippines, according to the BSP.

Commercial banks followed with NPLs reaching P10.11 billion as of July this year. This was also a contraction of 13.12 percent compared to the P11.63 billion as of July 2024.

While foreign institutions recorded the lowest amount of NPLs as of July at P7.1 billion, this was a 19.05-percent growth from the P5.96 billion recorded as of July last year.

Foreign institutions consisted of foreign banks, excluding foreign banks’ subsidiaries, according to the BSP.

Meanwhile, net NPLs of banks posted flat growth of 0.26 percent to P192.59 billion as of July 2025 from the P192.1 billion posted in the same period last year.

‘As a complementary measure in the computation of gross NPL, banks are required to compute their net NPLs, which shall refer to gross NPLs less specific allowance for credit losses on the total loan portfolio, provided, that such specific allowance for credit losses on the total loan portfolio shall not be deducted from the total loan portfolio,’ BSP said.

The bulk of these net NPLs were from UBs, which grew 12.28 percent to P125.42 billion as of July 2025 from the P111.7 billion recorded as of July 2024.

This was followed by government banks which saw its net NPLs contract 14.45 percent to P61.79 billion in the seven-month period this year from P72.23 billion posted in the same period last year.

The largest decline in net NPLs were recorded by commercial banks at 28.75 percent. This placed the net NPLs of these banks to P3.4 billion as of July 2025 from P4.77 billion as of July 2024.

Foreign banks, meanwhile, posted a growth of 7.45 percent, which brought its net NPLs to P1.98 billion as of July this year from P1.84 billion as of July last year.

THE Securities and Exchange Commission (SEC) has approved the P3-billion preferred shares offering of Megawide Construction Corp.

In its en banc meeting, the SEC approved the registration statement of Megawide covering up to 20 million preferred shares, with an oversubscription option of up to 10 million shares, subject to the company’s compliance with certain remaining requirements.

The preferred shares, which are cumulative, non-voting, non-participating, non-convertible, redeemable and perpetual, will be offered to the public at a price of up to P100 apiece.

The listed company is expected to net up to P2.97 billion from the offer, assuming the overallotment option is fully exercised. Proceeds will be used for debt refinancing, partial financing of projects in the pipeline and general corporate purposes.

The offer period will run from October 30 to November 10, in time for listing at the main board of the Philippine Stock Exchange on November 19, according to the latest timetable submitted to the SEC.

Megawide tapped PNB Capital and Investment Corp., RCBC Capital Corp. and Security Bank Capital Investment Corp. to serve as the joint issue managers, joint lead underwriters and joint bookrunners for the offer. Megawide said its income for the first half of the year fell to P436.41 million from the previous year’s P437.58 million on weaker second-quarter performance.

Consolidated revenues for the period fell 23 percent to P8.77 billion from the previous year’s P11.49 billion, as projects under construction enter the tail-end of the life cycle.

‘Based on our performance in the first six months of the year, we are on track to outpace our net income from the previous year. This is also partly driven by the increasing contribution from our real estate business, which is steadily emerging as a new growth driver. Other business segments are expected to complement our consolidated overall performance as we replenish our order book for EPC and precast and construction solutions from both external and internal clients,’ Megawide Chairman and CEO Edgar B. Saavedra said.

For the second quarter alone, its income fell much deeper to P227.19 million, down by 10 percent from the previous year’s P254.16 billion, while revenues fell 28 percent to P4.45 billion from the previous P6.21 billion.

In terms of segment, construction operations contributed P7.3 billion for the first half of the year and accounted for 85 percent of total consolidated revenues. The performance was traced to the winding down phase for a number of ongoing projects, which generally churn in lower revenues based on the S-Curve but deliver higher margins.

Revenue from real estate operations amounted to P1.1 billion, more than 3 times from last year, due to ongoing projects, such as ‘My Enso Lofts,’ ‘The Hive,’ ‘Northscapes,’ ‘Modan Lofts,’ ‘One Lancaster Park’ and ‘Lykke Condo’ with healthy sales for the first half at P1.7 billion, which is 64-percent higher year on year. This brought unbooked revenues to a healthy level of P8.8 billion.

THE cut in interest rates by the central bank failed to cushion the fall in last week’s share prices, seen continued to be weighed down by alleged state officials’ corruption and a weak peso.

The benchmark Philippine Stock Exchange index fell 71.07 points to close at 6,037.79 points.

‘The local market remains bearishly biased as seen on its direction and value turnover. Trading remains tepid, implying weak investor confidence,’ Japhet Louis O. Tantiangco, senior research analyst at Philstocks Financials Inc., said.

The main index was marked by a sharp fall on Monday, followed by gains on Tuesday and Wednesday. However, the index dropped during the rest of the week despite monetary authorities’ decision to cut rates, which surprised many investors and analysts.

‘As of last week’s closing, the local market remains undervalued with a P/E (price to earnings) ratio of 10.1 times. This is below its five-year historical average of 17.3 times and the regional average of 18.6 times. As of the moment, the PSEi still has the lowest PE ratio among peers,’ Tantiangco said.

All other sub-indices ended mixed. The broader All Shares index declined 27.41 points to close at 3,658.44 points, the Financials index fell 61.44 to 2,021.75, the Industrial index gained 20.13 to 9,036.52, the Holding Firms index retreated 117.84 to 4,850.95, the Property index was down 22.18 to 2,272.41, the Services index rose 14.05 to 2,284.31 and the Mining and Oil index soared 1,053.14 to close at 14,312.36.

For the week, gainers edged losers 121 to 112 and 28 shares were unchanged.

The top gainers were PXP Energy Corp., Anglo Philippine Holdings Corp., Atlas Consolidated Mining and Development Corp., Coal Asia Holdings Inc., Liberty Flour Mills Inc., Citystate Savings Bank Inc. and Philex Mining Corp.

The top losers, meanwhile, were Roxas and Co. Inc., F and J Prince Holdings Corp. A, Transpacific Broadband Group Int’l. Inc., Pacifica Holdings Inc., Global Ferronickel Holdings Inc., Lodestar Investment Holdings Corp. and VistaREIT Inc.

This week

SHARE prices are expected to move downward; but some investors may opt to hunt for bargains.

‘Bearish sentiment is expected to linger fueled by concerns over the Philippines’ corruption issues and its impact on our economic growth outlook. Investors are also expected to monitor the movement of the local currency against the US dollar,’ Tantiangco said.

A further depreciation for the peso is expected to drag the local bourse.

In addition, revived global economic worries as the US imposes new tariffs against China are expected to aggravate market pessimism, he said.

Broker 2TradeAsia said there is a shift in regional risk premium.

‘And while the domestic story should still hold overall, near-term alpha at home might remain limited to thematic such as gold mining, income/cash flow like real estate investment trusts and tertiary plays,’ it said.

‘Plays in the near-term are likely bound to selectives to capture defensive yields amid flow rotations, especially while clarity on the Fed’s next move is still translucent,’ it said.

A major resistance for the main index is seen at 6,150 points followed by the 50-day exponential moving average. Currently, the market is testing its 10-day exponential moving average. Major support is seen at 6,000 points, Tantiangco said.

Stock picks

BROKER Regina Capital Development Corp. gave a buy when support holds on the stock of lender BDO Unibank Inc. (PSE: BDO).

‘BDO dropped by 2.57 percent, extending its recent downtrend as it failed to hold above the 50-day MA at 139.56. Price remains below the 100-day and 200-day MAs, reflecting continued bearish market sentiment,’ it said.

‘Unless support around 135.00 holds, further downside movement could develop in the short term,’ the broker said.

BDO shares closed last week at P134.80 apiece.

Meanwhile, the broker advised to buy at pullbacks on the stock of Areit Inc. after its share price surged by 7.49 percent, marking a strong breakout from its recent consolidation phase.

‘The price now trades well above the 50-day, 100-day, and 200-day MAs at 43.59, 42.09 and 40.71, respectively, reinforcing a bullish bias with momentum regaining strength,’ the broker said.

With price breaking key resistance, continuation toward the P46 zone is likely if support at P43.50 holds, it said.

Areit shares closed last Friday at P42.75 apiece.

The pursuit for accountability in the corruption-tainted flood control projects in the Philippines does not rest solely with government investigation offices. In the last three articles, I dwelled on the Office of the President, the Independent Commission for Infrastructure, the Congressional oversight and investigation committees, the Financial Watchdogs, and the Enforcement and Investigative Units. A deeper and sustained inspection of these anomalies demands that scrutiny be expanded to include the professional gatekeepers, the legal advisers, and consultants who enable or overlook malpractices.

The professional gatekeepers include the Professional Regulatory Boards of Civil Engineers (PRBCE), the Professional Regulatory Board for Certified Public Accountants (PRBCPA), the Supreme Court (SC), and the Integrated Bar of the Philippines (IBP). These institutions are responsible for the admission of individuals into the professions of civil engineering, certified public accountancy, and law after they pass the rigorous licensure and bar examinations. Thereafter, the SC, IBP, PRBCE, PRBCPA and their professional membership associations mandate that their members and professionals discharge their responsibilities with full competence and integrity.

These professional gatekeepers must examine the conduct of their members implicated in anomalous flood control projects. They should take the lead in investigating if accountants, whether in government or in industry, have connived with the flood control perpetrators in ‘cooking’ the books and documents; if the Commission on Audit auditors, Bureau of Internal Revenue examiners, and external auditors have ignored signs of fraudulent records and declarations of the flood control contractors and public works financial reports; if civil engineers have certified defective or ‘ghost’ public works projects; or if corporate lawyers have assisted their public works clients in aggressive schemes to perpetuate the flood control irregularities and to create illegal schemes such as the use of shell firms and dummies, or other fictitious transaction.

These erring professionals collectively undermine public trust and project integrity. Inaction or negligence by these professionals not only tarnishes their personal reputation and that of their profession but also facilitates the systemic fraud that corrupted the flood control projects.

The respective ethics boards of these professional gatekeepers should recommend or institute the appropriate sanctions against the incorrigibles within their ranks. They should initiate motu proprio investigations that will result in the severest of sanctions against these individuals, including the revocation or cancellation of their professional licenses

As the investigations unfold, the participation of professional gatekeepers will determine whether justice in the flood control scandal will be partial or complete. The integrity and the ability to police the ranks of the professions-law, accountancy, engineering-is now under strict scrutiny. Will the leaders of the professions institute the appropriate investigations and imposition of sanctions against their erring fellow professionals? Or will they deliver slow and half-baked responses?

The flood control mess is not only a test of the government’s will but also of professional conscience. If each regulatory board and professional body fulfills its mandate, the ‘recipe’ for corruption may finally be replaced with one for accountability, reform, and a rebuilding of public trust.

To be continued

Joel L. Tan-Torres was a former Commissioner of the Bureau of Internal Revenue. He has also held various positions, including Dean of the University of the Philippines School of Business, Chairman of the Professional Regulatory Board of Accountancy, Tax partner of Reyes Tacandong and Co., and SyCipGorres and Velayo and Co., and director of various corporate boards. He is a Certified Public Accountant who ranked No. 1 in the CPA Board Examination of May 1979. He has his own tax and consultancy practice in JL2T Consulting and can be contacted at joeltantorres@yahoo.com.

Coco Gauff reeled off four straight games to beat Jessica Pegula 6-4, 7-5 and win the Wuhan Open on Sunday in all-American final.

The 21-year-old Gauff won her second title of the year, having won the French Open on clay, and she now has 11 career titles.

The third-ranked Gauff served to save the second set at 5-3 down. She held and then broke the sixth-ranked Pegula to love for 5-5.

Pegula’s forehand volley at the net landed wide to give Gauff a first match point and, with Pegula on second serve, she clinched it with a forehand winner following a brief rally.

‘Winning every match (in the tournament) in straight sets, I don’t know if I’ve done that before on a title run,’ Gauff said. ‘I just felt like I was really proud of what I accomplished this week, regardless of the result today.’

The 31-year-old Pegula rallied to beat top-ranked Aryna Sabalenka in the semifinals. But this time she lost momentum and missed out on a 10th career title as Gauff became the second American to claim the Wuhan title after Venus Williams in 2015.

It was their seventh career meeting and first in a final. Pegula leads 4-3 overall against Gauff, with whom she has won several WTA doubles titles.

‘When I came on tour, you were one of the first people to be nice to me and welcome me with open arms. That really went a long way, so I appreciate you,’ Gauff told Pegula at the trophy ceremony. ‘It’s great to finally play in the final against you. I hope for many more.’

Gauff improved to 11-3 in finals; Pegula dropped to 9-11.

‘We’ve spent a lot of time together and, even though I’m a bit older, I always admire and respect her so much,’ Pegula said. ‘She’s just so mature for her age.’

Marco Penge beat fellow Englishman Daniel Brown in a playoff to win the Spanish Open on Sunday and secure a spot in next year’s Masters and British Open.

Penge relinquished a four-shot lead but came out on top with a birdie on the first playoff hole to win his third European tour title this year.

‘Dan and Joel (Girrbach) played great today, they were holing putts and I just couldn’t really get it in the hole, it felt like I was really up against it,’ Penge said. ‘But I felt like I managed myself really well and I actually think tee to green, I feel like I played really solid. It doesn’t matter the putts, I think I used them all yesterday, but obviously holing that one there was worth the wait.’

It was the first time the national tournament offered the winner an automatic spot for the Masters and the British Open.

‘It’s crazy,’ Penge said about playing in the Masters. ‘It’s a golf course that I’ve always wanted to play, because I feel like my game sets up really good for it.’

Penge, who shot a 1-over 72 on Sunday, finished tied with Brown at 15 under for the tournament.

Brown, whose 31st birthday was on Saturday, started five shots back but he made a run after shooting a 4-under 67 in the final round. That was despite dealing with a right shoulder ailment that required treatment during the back nine. He forced a playoff with a birdie on the final hole.

The 27-year-old Penge also won at the Danish Golf Championship and the Hainan Classic.

Girrbach (69) was four shots back to start the day. The Swiss player finished third at 14 under for the tournament.

Home-crowd favorite Jon Rahm, who was seeking a record fourth Spanish Open title, wasn’t really in contention at the start of the final round, but he closed with a 6-under 65 to finish in a tie for ninth.

Shane Lowry, who like Rahm was back in action after helping Europe win the Ryder Cup in New York last month, didn’t make the cut at the Club de Campo Villa de Madrid in the Spanish capital.

AS the nation honors its elderly during National Senior Citizens’ Week, a lawmaker shines a light on a group often left in the shadows-widowed Filipinos, especially senior citizens, struggling to start over after the loss of their life partners.

Through his newly filed House Bill 5395, or the proposed Widowed Persons Assistance Act, Quezon City Rep. Patrick Michael Vargas hopes to create a safety net for those who have lost their spouses, offering them temporary financial assistance, psychosocial counseling, livelihood support, and priority access to social services.

For many widowed individuals-especially senior citizens-the loss of a spouse means not only emotional pain but also financial hardship. Some are left without a steady income, while others face the loneliness of living alone in their twilight years, said the lawmaker.

‘Widowed persons form a special sector among our senior citizens who need to be recognized and cared for,’ Vargas said. ‘We will not let them grieve in isolation; instead, we will prepare them to face the challenges that come with losing their life partner.’

Data from the Philippine Statistics Authority (PSA) show that widowed persons make up 4.5 percent of the country’s total household population, and women account for about 76 percent of this group-a figure that underscores the vulnerability of older women who outlive their spouses.

While the proposed measure covers all widowed individuals regardless of age or sex, Vargas said it will benefit the elderly the most, given their limited capacity to find new jobs or start anew.

‘Our goal is to help elderly widows and widowers get back on their feet and rebuild their lives,’ he explained.

The lawmaker emphasized that this initiative builds on existing laws such as the Expanded Senior Citizens Act and the Universal Health Care Act, ensuring that widowed persons receive targeted support and attention.

‘If passed into law, this measure will not only give new hope to our senior citizens,’ Vargas said. ‘It will also be a testament to our government’s compassion-showing that we see them, we value them, and we will stand by them in their remaining years.’

The Land Bank of the Philippines (LandBank) announced it continues to strengthen its support for farmers and other players in the agricultural value chain with the regional rollout of the ‘Agrisenso Plus’ lending program in this province, bringing low-interest financing and capacity-building support closer to more agricultural communities nationwide.

Over 1,400 farmers from the municipalities of Aborlan, Bataraza, Brooke’s Point, Narra, Quezon, Rizal, and Sofronio Española gathered for the event, reflecting the strong interest of Palawan’s agri communities for accessible and affordable credit assistance, the state-run lender’s statement read.

LandBank President and CEO Lynette V. Ortiz and Bangko Sentral ng Pilipinas (BSP) Director Mynard Bryan R. Mojica led the launch on October 10 at Brooke’s Point Event Center.

They were joined by Brooke’s Point Mayor Cesareo R. Benedito Jr., Narra Mayor Gerandy B. Danao, and national and local partners from the Department of Agriculture (DA), Department of Agrarian Reform (DAR), National Irrigation Administration (NIA), Bureau of Fisheries and Aquatic Resources (BFAR), Agricultural Credit Policy Council (ACPC) and Philippine Crop Insurance Corp. (PCIC).

‘With the continued rollout of the ‘Agrisenso Plus’ nationwide, we are deepening our commitment to empower farmers and other agri stakeholders, including those in far-flung provinces like Palawan. We aim to provide them with the financing, tools, and partnerships needed to strengthen agricultural productivity and build resilient livelihoods,’ Ortiz was quoted as saying in the statement.

Agri financing

DEVELOPED in partnership with the DA, the DAR, the ACPC, the NIA and other private sector partners, the Agrisenso Plus is Landbank’s enhanced value chain-based financing initiative to provide holistic support to agricultural players.

The program offers a fixed interest rate of 4.0 percent per annum for small farmers, fishers, and ARBs, with competitive rates for their associations and organizations, micro, small, and medium enterprises (MSMEs), large enterprises, anchor firms, and agriculture graduates.

Borrowers benefit from simplified documentary requirements, free life and credit life insurance, and expanded access to technical and market support to help boost productivity and profitability.

The Agrisenso Plus is complemented by the Landbank’s Ascend (‘Agri-Fishery Support through Capability Enhancement for Nationwide Development’) initiative, a capacity-building component that provides farmers and fishers with training on digital financial literacy, sustainable agriculture, and enterprise development.

As of August 2025, LandBank has released P1.78 billion in loans under the Agrisenso Plus, supporting over 12,000 borrowers nationwide. The Palawan rollout follows successful launches in Pampanga, Cagayan, Isabela, Batanes, Bukidnon, and Iloilo, with the next rollout scheduled in Negros Occidental later this month.

Strengthening partnerships

THE Agrisenso Plus also connects farmers and fishers to market opportunities through partnerships with anchor firms, such as Kita Agritech Corp., Sarisuki Stores Inc., TAO Foods Co. Inc., Yovel East Research and Development Inc., and Unified Tillers Agriculture Cooperative.

Santeh Feeds Corp. recently joined the roster of the program anchor firms following the signing of a memorandum of agreement with Landbank on October 7.

The partnership will broaden the Program’s reach to aqua farmers nationwide who use Santeh Feeds’ products and services. It aims to boost productivity and strengthen the economic resilience of aqua farmers, while advancing sustainable aquaculture practices across the country.

LandBank remains steadfast in its mission to advance countryside development and ensure food security by scaling up inclusive and sustainable financing for the agriculture sector-empowering rural communities and cultivating growth from countryside to countrywide.