Category: Business Mirror

Senator Christopher ‘Bong’ Go, on Monday, September 29, delivered a manifestation in the Senate expressing his full support for the proposed 2026 budget of the Office of the Vice President (OVP), praising Vice President Sara Duterte’s initiatives and contrasting them against what he described as flood control projects that have become ‘gatasan’ for unscrupulous individuals.

The Senate finance committee where Go serves as Vice Chairperson earlier approved the proposed budget of the OVP.

‘Tiwala po ako sa ating Vice President at sigurado po ako na nagagamit nang tama ang pondo ng bayan,’ Go stated during the Senate budget deliberations on September 29.

He stressed his confidence in the way Duterte’s office manages public funds, recalling his years of service under former President Rodrigo Duterte and his familiarity with the Duterte family’s approach to clean governance.

‘Sa totoo lamang po, matagal po akong nagtrabaho kay former President Duterte at naabutan ko po noong siya po’y naging bise mayor ng Davao, [at mayor] si Vice President Sara. Kung istrikto po si dating mayor at dating Pangulong Duterte sa gobyerno, mas istrikto po si VP Sara at alam ko pong magagamit talaga ang pondo para sa pantulong sa ating mga kababayan,’ he assured.

‘Kaysa naman po napupunta lang sa flood control na gatasan po ng iilang mapagsamantala,’ Go cited, highlighting how billions of public funds have been stolen in anomalous or ghost projects while the OVP budget was decreased despite providing direct benefits to vulnerable sectors.

Go went into detail about the programs rolled out by the OVP in recent years, emphasizing their direct benefits to ordinary Filipinos. He even urged fellow lawmakers to find ways to allocate more funding to the OVP to sustain its services.

‘Sa mga nakaraang taon, nagkaroon ang OVP ng mga programang nagbibigay ng tunay na benepisyo sa ating mamamayan. From medical assistance, to relief operations, educational support, pangkabuhayan programs, at libreng sakay among others,’ he noted.

Among the highlights was the OVP’s Medical and Burial Assistance Program, which he cited has helped more than 187,000 beneficiaries when it was still funded. In 2024 alone, the office extended assistance to over 144,000 individuals in need.

He likewise cited the Magnegosyo ‘ta Day Program, which provides entrepreneurial opportunities, including livelihood assistance and training for marginalized groups. The OVP has also been active in disaster relief efforts, aiding more than 200,000 individuals in calamity-hit areas.

‘Nakikita ko rin po ito dahil ako mismo umiikot rin po ako sa mga tinatamaan po ng bagyo,’ Go added, drawing from his own experience in relief operations across the country.

He also underscored the impact of the Libreng Sakay Program, which has served over a million passengers in Metro Manila, Bacolod, Cebu, and Davao. ‘Ito po yung nabanggit ko kanina na atin pong sinusuportahan,’ he remarked, pointing out that he has also personally supported the OVP’s free transportation efforts ‘in my own small way.’

Go also rooted his remarks in his personal experience as a Davaoeño who had long worked with the Duterte family. He emphasized that his support for the Vice President is based not only on alliance but also on his firsthand knowledge of her good governance style and priorities.

‘As a proud Davaoeño, I have witnessed firsthand the remarkable work of the Vice President when she was still the Mayor of Davao City. And when she became Vice President, I sincerely believe Vice President Duterte’s initiatives have been instrumental in helping this government uplift lives and promote the welfare of all Filipinos,’ Go said.

There is definitely growth outside the National Capital Region (NCR) for the country’s property sector. Moreover, there is a strong demand for horizontal (house and lot/lot only development) units.

Joey Roi Bondoc, research head of Colliers Philippines, says seasoned investors would really look for potential sites outside Metro Manila because of the low yields in Metro Manila. ‘If you’re banking on yields, the returns are very low, around 3 to 4 percent,’ Bondoc told the BusinessMirror in an interview held in Makati City.

‘And if you are an astute investor at this point, it doesn’t make sense to still invest in Metro Manila, because prices aren’t really declining and the rents have softened substantially because of the exodus of the Philippine Offshore Gaming Operators. With the yields being very low, you’re now banking on the price appreciation of the lot only,’ Bondoc adds.

Bondoc says the competitive pricing makes the investment proposition in the provinces, particularly the lot-only segment, far more compelling. For instance, there’s a project like Santa Lucia Land Inc.’s Beverly Place in San Fernando, Pampanga, that has shown strong potential for price increases, which is a more sustainable investment right now.

The demand outside of Metro Manila is fundamentally different-it’s driven by the end-user, not the speculative investor. Furthermore, Bondoc says the shift towards areas outside the National Capital Region (AONCR) and lot only are sustained price appreciation, greater push for sustainability, bigger and more open space, improving road network to and from Metro Manila, and vacancy in Metro Manila condominiums remains elevated and its yields have gone down.

According to Colliers, the average take-up rates of H and L units end-Q2 2025 ranged from 86 to 98 percent. On a per region basis, Southern Luzon posted the highest take-up with 94 percent followed closely by Central Visayas (93 percent) while Davao Region and Western Visayas were tied in third spot with 92 percent and Central Luzon was in fourth with 91 percent.

Cavite bagged the largest takeout with 155,000 followed by Laguna (89,000), Batangas (84,000), Pampanga (65,000), and Cebu (61,000).

For the lot-only market in AONCR, Colliers Philippines reported that the average take-up rate of lot-only units in the end Q2 2025 ranged from 81 to 96 percent. Central Visayas led in the regional take-up with 94 percent. Southern Luzon were tied in the second spot with 93 percent while Davao Region and Western Visayas garnered 92 and 83 percent respectively.

Batangas got 31,000 take-outs followed by Cavite (30,000), Laguna (28,000), Pampanga (24,000) and Cebu (22,000).

Sta. Lucia sees opportunities outside NCR.

The Marbella Lake Residences in Victoria, Laguna, and Sta. Monica Lake Residences in Manaoag, Pangasinan are prime investment opportunities from Sta. Lucia Land Inc. Furthermore, the fundamental value of these properties lies in the lake community concept itself. Both developments offer a mix of residential lots (including prime lakefront/lakeview lots) and commercial lots, providing diverse avenues for business and capital appreciation.

The soon to rise Marbella Lake Residences is the first lake community in Victoria, Laguna and occupies an estimated 73 hectares of land. Incorporating the gifts of nature in the development, Marbella Lake Residences is designed to be a verdant community where future residents are engaged to spend more time in outdoor recreation and embrace prime modern living elevated with greener features.

The prominent feature of the lake community is the man-made lake area built with a lighthouse. While other amenities include a community clubhouse built with a swimming pool, function hall and multipurpose basketball court. Home buyers have a variety of options with its selection of promising lots which are either regular lots or lakefront lots.

As the first lake community in Victoria, Laguna, Marbella is designed as a verdant community that encourages outdoor recreation. Prices vary according to lot type and location; and can range from P12,800 up to P25,200 per square meters. Select residential lots are also being offered at a discounted rate of P10,800 until December 31, 2025.

Meanwhile, Sta. Monica Lake Residences is Sta. Lucia’s first development in Manaoag, Pangasinan-the ‘Pilgrimage Center of the North’-a location that gives the community a strong cultural and historical identity. The property features a lake, lighthouse, and open jogging paths, alongside a multipurpose clubhouse with a function hall and basketball court

Price range starts from P 8,000 to P20,500 per square meter, offering competitive entry prices for investors.

Investing either in Marbella or Sta. Monica Lake Residences means securing a property in a meticulously planned, nature-focused community with a high potential for appreciation, supported by the extensive track record of Sta. Lucia Land Inc.

THE global travel and tourism sector is headed for another record-breaking year, projected to contribute an historic high of US$2.1 trillion to the worldwide economy, surpassing the record high of $1.9 trillion in prepandemic 2019 by 10.5 percent.

At the launch of its latest Economic Impact Report (EIR) at the 2025 World Travel and Tourism Council (WTTC) Global Summit in Rome on Monday, WTTC Interim Chief Executive Officer Gloria Guevara said: ‘These results tell a story of strength and opportunity. The United States remains the world’s largest travel and tourism market, China is surging back, Europe is powering ahead, and destinations across the Middle East, Asia, and Africa are delivering record growth.’

The EIR also showed that 371 million jobs are estimated to be supported by the travel and tourism sector, almost 4 percent more than the 357 million jobs last year. ‘By 2035, one in eight jobs worldwide will be supported by travel and tourism, with an additional 91 million new jobs supported, the majority in the Asia-Pacific region, resulting in one in three new jobs globally supported by the sector,’ the report added.

Confidence in the sector remains strong with the EIR seeing global investment continue to rise this year after exceeding $1 trillion in 2024. Last year’s investment level was 9 percent more than in 2023.

‘The US, China, Saudi Arabia, and France together accounted for more than half a trillion dollars of that investment [last year],’ the reported noted.

Most powerful market

Despite being the ‘world’s most powerful travel and tourism market,’ the US will attract less tourist spend this year, falling by $12.5 billion, such that total spending will inch up a mere 0.7 percent. The group warned that ‘without destination promotion, traveler-friendly policies, and reduced visa costs, it could lose its competitive edge.’

The US contributed $2.6 trillion to its economy, as expressed in gross domestic product (GDP), in 2024. The report pointed to the US domestic market as the ‘strongest in the world, sustaining millions of jobs and underpinning sector resilience.’

China is the world’s second-largest market and is projected to contribute over $2 trillion to its economy, 22.7 percent from 2024. ‘This highlights China’s rapid return to international prominence and its pivotal role in shaping global travel flows,’ said the WTTC.

Japan, the world’s most popular destination according to global travel surveys, is estimated to add $13.8 billion to its GDP this year, and reach close to $325 billion. As per EIR, the country’s is the world’s fifth largest travel and tourism market.

Fastest-growing region

Meanwhile, the Middle East remains one of the fastest-growing regions in the world for travel and tourism, with Saudi Arabia continuing to stand out as a ‘global powerhouse, with inbound visitor spend surging and infrastructure investment reaching record levels.’

Earlier, the WTTC projected tourism’s contribution to the Philippine economy at 21 percent, adding some $102.6 billion to the GDP this year. This represents an 11.8-percent change from $91.8 billion GDP contribution in 2024, although a slower growth from the 27.6-percent, year-on-year change in 2024/2023. This year’s estimated tourism contribution is 13.5 percent higher than the prepandemic $90.4 billion recorded. (See, ‘Int’l tourism spending in PHL to breach pre-Covid levels,’ in the BusinessMirror, June 16, 2025.)

From September 28 to 30, over a thousand delegates, including 310 chief executive officers and chairs, will explore opportunities and challenges shaping the future of travel and tourism at the global summit.

WTTC officials said, among the key trends this year are ‘a demand for experience-led and sustainable travel, the integration of artificial intelligence [AI], shifts in consumer preferences, the growth of the short-term rental market, and the ongoing importance of business travel.’

THE country’s leading media company, GMA Network marked a significant milestone in its partnership with Cut Unlimited Inc. during a mediacon held on September 24 in Quezon City. Anchored in generosity, community, and the spirit of Christmas, the collaboration has flourished for 25 years through the metro’s longest-running holiday shopping fair, the annual Noel Bazaar.

Known for its much-anticipated GMA Celebrity Ukay-Ukay, where shoppers can purchase pre-loved items from popular and beloved stars and personalities from the network, the Noel Bazaar has also provided opportunities for independent merchants to market their unique, artisanal products. Part of the proceeds are then donated to the GMA Kapuso Foundation (GMAKF), providing further support for its ongoing projects and initiatives.

GMA Network vice president for corporate affairs and communications Angela Javier Cruz highlighted the enduring alliance between the network and Cut Unlimited during her speech at the event: ‘In our ever-changing world, some partnerships are really meant to last and become stronger through time.’

Meanwhile, GMA Kapuso Foundation executive vice president and COO Rikki O. Escudero-Catibog spoke of the impact of the partnership for its education programs, which further support schoolchildren with school supplies and the construction of earthquake-proof and typhoon-resistant school buildings.

The mediacon was also attended by Cut Unlimited managing director Justine Bautista-Reyes, marketing manager Maxine Sabandal, and the Noel Bazaar ambassadors, Sparkle GMA Artist Center’s Skye Chua and the P-pop group Cloud 7.

This year’s Noel Bazaar will have over 500 merchants. Shoppers can drop by and purchase fashion finds, accessories, and many more at the following venues and dates: Filinvest Tent in Alabang from October 17 to 19; Okada, Manila from November 14 to 16; World Trade Center from November 26 to 30. The Noel Bazaar then returns to the Filinvest Tent in Alabang from December 18 to 21.

ELECTION-LAWYER Romulo Macalintal has asked the Supreme Court (SC) to look into the circumstances surrounding the notarization of sworn documents submitted as annexes by the Liga ng Mga Barangay sa Pilipinas (LMBP) in their bid to intervene in the petitions seeking to declare as constitutional Republic Act No. 12232 that extended the term of office of the incumbent barangay and Sangguniang Kabataan (SK) officials from three to four years.

Macalintal made the request in his nine-page ‘very urgent manifestation of grave concern with motion to clarify authenticity of certain sworn documents in intervenors’ petition for intervention’ filed last Monday before the Court.

The lawyer made the manifestation after learning that the sworn documents were notarized by controversial lawyer Petchie Rose Espera, who earlier denied and disowned the signature and notarization appearing on the affidavit submitted by Orly Regala Guteza during his appearance as witness in the Senate Blue Ribbon Committee’s investigation on the anomalous flood control projects of the government.

In his affidavit, Guteza claimed that he formerly served as security consultant for resigned Ako Bicol Party-list Rep. Elizalde ‘Zaldy’ Co and was tasked to deliver suitcases containing millions of pesos each to residences of Co and former House Speaker Martin Romualdez.

Macalintal noted that the signature now being disowned by Espera is the same signature of the notary public on the various sworn documents submitted by LMBP as part of the petition in intervention.

He pointed out that multiple verifications, certifications of non-forum shopping, and special powers of attorney from barangay officials across different municipalities were all purportedly subscribed and sworn before Espera on a single day, August 18, 2025.

He also noted that Espera’s signature on some of the sworn documents attached to the petition-in-intervention closely resembled the notary public’s signature on Guteza’s affidavit, indicating that it was done by the same person.

‘With due respect, petitioner finds it highly suspect how all these punong barangays in different parts of the Philippines could be gathered to prepare, explain, and adopt various resolutions [which share extremely similar wordings] and verification and certification of non-forum shopping just in one day by the same notary public,’ Macalintal stressed.

‘Hence, in view of the startling revelation, it is the petitioner’s respectful submission that the intervenors and their counsels should be directed to explain the circumstances surrounding the notarization of their aforesaid sworn statements and clarify whether they are personally subscribed and attested their respective documents before Atty. Espera,’ he added.

Macalintal explains that notarization is not a routinary act and that a public document is entitled to ‘full faith and credit,’ which makes the issue of its authenticity a matter of grave concern.

In their petitioner-in-intervention, the LMBP asked the Court to declare as constitutional Republic Act No. 12232 which effectively postponed to November 2, 2026 the Barangay and Sangguniang Kabataan Elections (BSKE) originally set on December 1, 2025.

The two original petitions to declare as unconstitutional RA 12232 were filed by Macalintal and voters represented by Mystro Yushi P. Fujii et al.

The SC has acted on Macalintal’s petition and required the Senate, the House of Representatives, the Office of the President through the Office of the Executive Secretary, and the Commission on Elections (Comelec) to submit their comments.

The comments were required not only on the petition but also on Macalintal’s plea for TRO.

Century Properties Group Inc. (PSE: CPG) announces its inclusion in the Financial Times Stock Exchange (FTSE) Global Equity Index Series (GEIS)- Microcap Index effective September 22, 2025.

The FTSE Microcap Index is part of the globally recognized FTSE Global Equity Index Series, which serves as a benchmark for institutional investors and fund managers worldwide. Inclusion in the index enhances the company’s visibility in global capital markets and may potentially increase liquidity and broaden its shareholder base.

CPG was added to the FTSE Microcap Index effective September 22, 2025, affirming the company’s growth prospects, increased market capitalization, enhanced liquidity, and higher free float. CPG’s free float has also improved from 27.4 percent to 34.21 percent after the Social Security System (SSS) bought a 6.4 percent stake in July 2025.

Over a period of three years from 2022, CPG has recorded a strong financial performance as it sustained its net income growth, increasing from P1.405 billion in 2022 to P1.855 billion in 2023, to P2.443 billion in 2024, reflecting a 32 percent and 31.7 percent year-on-year improvement, respectively.

‘We are honored by this inclusion, which represents a key milestone in our growth trajectory, said Marco R. Antonio, President and CEO of CPG. ‘This recognition underscores the strength of our business model and our commitment to delivering long-term value to our stakeholders-from homebuyers and communities to our shareholders,’ he added.

At the end of the trading week on September 19, CPG closed at P0.69 per share, 68 percent higher year-to-date and 89 percent compared to its level in the previous year.

A LAWMAKER on Tuesday warned that Co’s resignation should not erase accountability for alleged abuses tied to his party-list group, Ako Bicol, saying it exposes systemic weaknesses in Congress.

Cebu Rep. Duke Frasco alleged that Co, as a shareholder of construction firms, profited from billions of pesos worth of projects inserted in the national budget during his term as Appropriations Committee chair. He argued that by resigning, Co evaded sanction from the House but left his party list unaffected, a move he described as ‘impunity.’

But Ako Bicol Rep. Alfredo Garbin pushed back, calling Frasco’s remarks ‘mere conjecture’ unsupported by evidence or legal findings. He invoked the constitutional presumption of innocence, stressing that no case has yet been filed against Co.

‘The resignation of Cong. Zaldy Co should not, and cannot, erase his crimes, nor absolve Ako Bicol Partylist, the vehicle through which these abuses were committed,’ Frasco said.

‘While Co walks away, his conduit, Ako Bicol Partylist, keeps its seat, benefits, and power as if nothing happened. This is not accountability. This is impunity,’ Frasco stressed.

Citing Section 141 (h) of the House Rules, Frasco said, ‘A Member shall not acquire or receive any personal pecuniary interest in any specific business enterprise which will be directly and particularly favored or benefited by any law or resolution authored by the Member that is approved or adopted by Congress during the Member’s term.’

‘Accountability must extend beyond individuals. If consequences are limited only to a nominee, Congress sets a dangerous precedent: that members can violate rules, resign to avoid expulsion, and leave their party untouched. To protect the integrity of our institutions, Ako Bicol Partylist must face investigation, sanction, and, if warranted, disqualification,’ he added.

Garbin, however, that under the 1987 Constitution, Co enjoys the presumption of innocence unless and until charges are filed and proven before a competent court. ‘To prejudge Zaldy Co in the absence of due process would be a dangerous erosion of the rule of law itself,’ Garbin added.

He added that resignation does not shield Co from investigation, citing jurisprudence that public officials remain liable for acts committed in office even after stepping down.

Garbin also dismissed allegations of conflict of interest, saying Co had long divested from any construction-related businesses prior to assuming office. He further clarified that the insertion of funds into the General Appropriations Act (GAA) is a legitimate congressional process.

‘Even as Chairman of the Appropriations Committee, Zaldy Co is not powerful enough to railroad provisions of the budget according to his sole wishes. The GAA undergoes rigorous deliberation in both Houses of Congress, bicameral scrutiny, and final approval by the President,’ he said.

Garbin said the party-list should not be dragged into the controversy, noting its separate juridical personality under the Party-list System Act. ‘To punish Ako Bicol for unproven allegations against one nominee would disenfranchise the millions of Bicolanos who vested their trust in Ako Bicol,’ Garbin said.

Meanwhile, Akbayan Party-list Rep. Perci Cendana has called on Co to come home and confront the allegations leveled against him, stressing that the issue now affects not only Co but also the entire House of Representatives.

‘He should come back and face these allegations. This is no longer just his personal issue-it has become an institutional matter that taints the House as a whole,’ Cendana said.

THE House of Representatives will focus on passing a ‘clean budget’ for 2026, the speaker said, underscoring that this remains the chamber’s priority despite political noise and controversies over alleged flood control projects and questionable budget insertions.

Speaker Faustino ‘Bojie’ Dy III said the chamber is considering extending the plenary debates on the proposed 2026 national budget for another week.

The deliberations were originally scheduled to conclude this week, with October 10 set aside for the period of amendments to House Bill (HB) 4058, or the 2026 General Appropriations Bill (GAB).

The budget was originally set to complete plenary deliberations on the 2026 budget proposals of key agencies this week, with October 10 reserved for the period of amendments to House Bill (HB) 4058, or the General Appropriations Bill (GAB) of 2026.

‘Our priority in Congress is to pass a clean budget so we can transmit it to the Senate,’ Dy said.

The Speaker added, ‘For now, we will hold consultations, and we may even extend for another week to ensure the proper passage of next year’s budget.’

On Wednesday, plenary debates will cover the proposed budgets of the Office of the President, other executive offices, the Department of Foreign Affairs, the Department of Science and Technology, and the Department of Transportation.

Deliberations on Thursday will include allocations for Congress, the Civil Service Commission, the Department of Migrant Workers, and the Department of the Interior and Local Government. Discussions will also tackle support for the government corporate sector, lump-sum funds, and the Turno En Contra.

According to the schedule provided to the media, Thursday marks the last day of plenary debates for government agencies. Congress, composed of the House of Representatives and the Senate, is set to adjourn for a break on October 10.

‘That has not been thoroughly discussed yet, but if it becomes necessary to extend for another week, then that’s what we will do. Most likely, we may really extend by another week,’ said the speaker.

Once approved by the House, the GAB will be transmitted to the Senate for review. A bicameral conference committee will later be convened to reconcile differences between the House and Senate versions of the budget.

Paragraph 7, Section 25, Article VI of the 1987 Constitution provides that the general appropriations of the preceding year shall be deemed as re-enacted if both houses of Congress fail to pass the general appropriations bill for the ensuing year before the end of the present year.

Manila, Philippines – Last August 16 at The Fifth at Rockwell, the awarding for the 2025 Modern Parenting’s Parents’ Choice Awards happened and two of the awarded establishments were Kinetix Lab and Kinetix Kids.

In less than a year since it opened, Kinetix Kids, the premier play-gym, activity, and specialized training center has been recognized by the award giving body as the Best Recreational Venue for Kids under the Toys, Play, and Learning. Kinetix Kids believes in the power of play. It is the ultimate teacher, offering a vibrant avenue for children to acquire new knowledge and skills, foster social interactions, and grasp foundational concepts in various subjects. Assistant Branch Manager Aki Carino and Events Director Albee Barretto were there to represent the play-gym and to receive the award.

As the premier strength and conditioning training gym in the country, Kinetix Lab consistently finds ways to ensure that its members achieve holistic health. The gym has been recognized by this year’s Parents’ Choice Awards as having the Best Fitness Program for Parents under the Health, Safety, and Wellness category.

Last year, Kinetix Lab launched its Strong is Beautiful campaign to show women that overall strength is beautiful. This campaign offers several training programs, each designed to help women achieve their specific fitness goals. One of the founders / COO / Head Coach of Kinetix Lab Marlon Lugue was there at the event to receive the award.

Currently in its fourth year, the Modern Parenting’s Parents’ Choice Awards recognizes brands, products, and services that have a significant impact on Filipino families. This year, Editor-in-Chief Marga Tupaz led the careful evaluation of hundreds of entries. With the invaluable insights of a select panel of discerning mothers, the team identified the brands that consistently go above and beyond for both parents and children.

Cebu City Vice Mayor Tommy Osmeña recently visited the Isla Mactan Desalination Plant in Cordova, a facility that aims to help the city’s growing water security challenges.

Codeveloped by global experts in water technology and Vivant Water, the water arm of Cebu-based and publicly listed conglomerate Vivant Corporation, the plant is the country’s first utility-scale seawater desalination facility. More than an engineering milestone, it represents a promise of resilience for thousands of Cebuano families who depend on safe and reliable water every day.

The facility uses globally recognized seawater reverse osmosis (SWRO) technology with energy-efficient operations powered by Energy Recovery Devices (ERDs). Designed to deliver 20 million liters of potable water daily, enough to serve nearly 29,000 Cebuano households, the project is now in its final stages of testing and commissioning, before supplying the Metropolitan Cebu Water District (MCWD) by end-2025. It reflects Vivant Water’s commitment to practical, sustainable innovations that address today’s needs while anticipating tomorrow’s demands, in line with the Cebu City Administration’s pursuit of scalable and sustainable solutions.