Category: Business Mirror

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.

The newly renovated 50-year-old Philippine International Convention Center (PICC) is now ready to accommodate the international delegate of the 2026 Association of Southeast Asian Nations (ASEAN) Summit and related meetings, which will be hosted by the country.

President Ferdinand Marcos was personally accompanied by First Lady Louise Araneta Marcos and former First Lady Imelda Romualdez Marcos when he led the reopening ceremony last Tuesday of the iconic building designed by the National Artist Leandro V. Locsin .

In his speech during the reopening ceremony, the chief executive recognized how Asia’s first international convention center became the venue of not only many historic events such as the Miss Universe pageant in 1994 and ASEAN Summit in 2017, but also numerous public events such as graduations and oath-taking ceremonies of board passers.

‘As we look ahead, we recognize the PICC as a symbol of Filipino resilience and creativity. And that is why, with the PICC’s Golden Anniversary in 2026 and, coincidentally, our hosting of the ASEAN Summit, we reaffirmed our commitment to preserving and modernizing the PICC for many generations yet to come,’ Marcos said.

The renovated facility now features state-of-the-art audio-visual systems, energy-efficient lighting, complex-wide high-speed Wi-Fi to enhance security.

It now also features a newly curated art collection, with priceless works from Filipino masters from the Bangko Sentral ng Pilipinas.

Marcos has vowed to preserve the PICC, which he said will continue to serve as ‘testament to the artistry, ingenuity, and passion of the Filipino people’ for the next generation.

‘As we reopen the doors of the PICC, let us also open ourselves to a greater challenge: to create, to imagine, and to contribute,’ Marcos said.

‘So, together, let us ensure that the PICC will remain as a testament to the artistry, ingenuity, and passion of the Filipino people,’ he added.

THE Department of Public Works and Highways (DPWH) has expanded its internal anti-corruption probe to now include not only flood control projects, but also farm-to-market roads, according to Malacañang.

Palace Press Officer Claire Castro made the pronouncement after the Department of Agriculture (DA) ordered on Monday an audit of ghost or non-existent farm-to-market roads, which were built from 2021 to 2025.

She said DPWH Secretary Vivencio ‘Vince’ B. Dizon has also initiated their separate probe on this type of public works.

‘I also spoke with Secretary Vince this morning, and he said that they are also looking into this because a solution [to this issue] should be found as soon as possible,’ the Presidential Communications Office undersecretary said in Filipino in a press briefing in Malacañang on Tuesday.

The anomalous flood control projects are also being investigated by the Independent Commission for Infrastructure (ICI).

Marcos created the ICI through Executive Order (EO) No. 94 to investigate sub-standard and non-existent public works then recommend to concerned government agencies the prosecution of the involved individuals or parties.

Less than a month since the ICI was formed, its special adviser, Baguio Mayor City Mayor Benjamin B. Magalong resigned due to possible conflict of interest between his role in the fact-finding panel and his duty as a local chief executive.

On Monday, Castro announced the designation by the President of retired Philippine National Police Chief, Rodolfo Azurin Jr. as the new Special Adviser and Investigator of the ICI.

Castro said Azurin was picked for the said position despite his involvement in a drug-related issue during his stint as PNP chief based on his experience and skills as an investigator, as well as ‘not being a politician.’

She also noted no case was filed against Azurin related to his alleged involvement in the cover-up in the arrest of a police sergeant, who yielded 990 kilos of shabu or methamphetamine in 2022. Azurin denied any involvement in the issue.

THE country’s latest external debt service data released by the Bangko Sentral ng Pilipinas (BSP) sends a warning to policymakers regarding taking in more foreign debts, according to local economists.

The data showed the country’s external debt service already reached $148.87 billion in the January to June period this year. This showed that in the six-month period, external debt service already breached the total of $137.63 billion posted in the whole of 2024.

The external debt service data showed the government accounted for the bulk of the amount at $94.8 billion in the six-month period. This was 18.76 percent higher than the $79.825 billion posted in the same period last year.

‘This is a warning signal, though not necessarily a fatal one. It underscores the growing burden of foreign liabilities, higher amortization schedules, and interest cost pressures,’ Philippine Institute for Development Studies (PIDS) Senior Fellow John Paolo Rivera told BusinessMirror.

‘The concern is that this could strain forex reserves, tighten fiscal space, and heighten rollover risk especially if global rates stay elevated or the PHP [Philippine peso] weakens further,’ he added.

However, Union Bank Chief Economist Ruben Carlo Asuncion told this newspaper that the latest data ‘is not alarming’ given the country’s external debt to GDP ratio stands at 31.2 percent.

He added that the country’s dollar reserves or the Gross International Reserves (GIR) stood at $105.3 billion and could still ‘provide strong cover’ for the country’s debts and import receipts.

‘The increase reflects valuation effects and planned borrowings, not distress,’ Asuncion told this newspaper on Monday.

Meanwhile, private external debt service data showed a 7.38-percent growth to $54.07 billion in the January to June period this year, compared to the $50.36 billion posted in the same period last year.

Moving forward, Rivera said the national government must implement stronger debt management strategies which includes lengthening debt maturities and favoring concessional or low-cost borrowing.

Rivera said these strategies also include debt swaps and buybacks, as well as keeping a ‘prudent’ debt mix between domestic and external sources.

Asuncion added that the government should endeavor to maintain the 80-20 borrowing strategy that favors domestic over external sources.

‘Importantly, improving revenue mobilization and ensuring efficient public spending are key to sustaining the country’s ability to service external obligations without compromising development goals. The degree of corruption in the country also makes managing this more challenging,’ Rivera told BusinessMirror.

Earlier, the government’s retail treasury bond (RTB) drove the surge in borrowings in August, pushing total gross borrowings in eight months to P2.266 trillion.

Latest data from the Bureau of the Treasury (BTr) showed the government’s gross borrowings for August surged by 192.19 percent to P508.526 billion from last year’s P174.034 billion.