Category: Business Mirror

Freeport Area of Bataan-The Authority of the Freeport Area of Bataan (AFAB) said on Wednesday it has formed strategic partnerships with two South Korean companies to explore potential industrial and manpower development projects in its quest to expand free port operations in the province of Bataan.

AFAB Administrator and CEO Hussein Pangandaman on Tuesday, October 14, signed separate declaration of commitment and support with MSquare Global and the Global Human Resource Development Institute (GHRDI) of South Korea to broaden AFAB’s collaboration with international partners, the agency said in a statement.

The first agreement, signed with MSquare Global chairman Byungho Choi, intends to identify and evaluate potential projects in the Freeport Area of Bataan (FAB) and expand AFAB collaboration with Korean enterprises exploring business opportunities in the country.

The second, signed with GHRDI president In Sun Choi, pertains to identifying viable opportunities in training, human resource development, and institutional capacity-building under AFAB’s regulatory structure.

Both agreements established frameworks for cooperation that ‘define the intent to begin a structured coordination process, from the exchange of information to the assessment of areas suitable for future development,’ AFAB said.

FAB, which has been named ‘Industrial Zone of the Year-Asia-Pacific’ in the recent fDi Intelligence Global Free Zones Awards 2025, has been gearing for expansion into 17 areas spread across eight towns and one city in the province.

Among these are the Dinalupihan Woodlands Economic Zone, Tipo Valley Innovation Hub, First Abucay Freeport, Bataan New Port City, Lucanin Industrial Estate, Central Top Economic Zone, and GenPower Energy Complex.

Film festival

Meanwhile, 10 original short films, each produced and directed by young film makers in Bataan province, competed in the first FAB Film Festival (FFF) organized by AFAB.

The films, which explored themes in life, identity, and community, were screened and judged at the AFAB Auditorium last Tuesday night, October 14.

Pangandaman, who opened the film premier, said the festival reflects AFAB’s belief that economic zones can be spaces not only for production and enterprise but also for creative expression.

‘The same place that builds and innovates can also tell stories,’ Pangandaman said, underscoring the agency’s goal to build a community where creativity thrives alongside commerce and industry.

The 10 films shown at the FAB festival were: ‘As If We Never Left,’ directed by Marvin Rei Panes and produced by Nostalgia Cartel; ‘Daluyong,’ Erwin Jericho Arceo (Sine Kundiman); ‘Isang Kilo,’ Jeyk Esperanza (Obra Production); ‘Kubli,’ Billy Ray Oyanib (One Man Films); ‘Kwentong Multo,’ Dexter Paul de Jesus (Ciete Cinco Creatives); ‘Maiba Taya,’ Emir Canlas (EC Films); ‘Para sa Paborito Kong Putahe,’ Erika Ann Bautista (Salimpusa Production); ‘Resume,’ Michael Angelo Cervantes (CAMAC Production); ‘Tagahulo,’ Lemmor Miguel Vitug (Cinemmon Films); and ‘Tayo sa Dilim,’ Satoru Ildefonso Corilla (BlueSky Productions).

Acclaimed filmmaker Joel Ferrer (‘Hello World,’ 2013; ‘Elise’, 2019; ‘Kandungan’, 2025), who was among the judges, said he was impressed by the range and energy of the entries.

‘There’s a lot of heart in these films. I hope this festival continues to grow and open more opportunities for young filmmakers,’ he said.

Preparations for the FFF started last August after AFAB partnered with BTN (Bataan Tayo Naman) Association and brainstormed for a platform that would elevate local cinema and promote cultural works that are both entertaining and meaningful.

Commission on Elections (Comelec) Chairman George Erwin M. Garcia said the Supreme Court’s ruling on the disqualification case of Caloocan 2nd District Representative Edgar Erice has, for the first time, given the poll body clear guidance on how to address election misinformation.

The Court recently nullified Comelec’s decision disqualifying Erice, who was accused of spreading false information about the poll body’s contract with Miru Systems.

It ruled that while such acts may qualify as an election offense, they are not among the legal grounds for disqualification unless the person has been convicted by a trial court.

Garcia said the decision makes clear that the Comelec retains the authority to investigate and file cases on false or alarming statements that could disrupt the electoral process, but disqualification can only come after a conviction.

‘The Supreme Court said Comelec has the right to investigate and prosecute this kind of offense. Whether it is a ground for disqualification, the Court said it is not-but it can be the basis for filing an election offense,’ Garcia told reporters on Thursday.

‘It’s now clear: conviction will be the basis of disqualification, not the misinformation itself. This serves as our guidance moving forward.’

He said the ruling also strengthened Comelec’s position at a time when misinformation and disinformation pose serious threats to democracy.

‘Especially now that the threats to democracy are misinformation, disinformation, and fake news. This is our legal weapon,’ he added.

Garcia, who inhibited himself from the Erice case, said he has no hand in deciding whether the poll body will still pursue a separate election offense against the lawmaker.

‘For me, that’s more than enough. Since the Supreme Court itself made no determination on the respondent’s liability.if my colleagues wish to file, it’s up to them.After all, the respondent has already won, been proclaimed, and is now in office,’ he said when asked if Comelec will pursue criminal charges.

The Comelec pro­claimed Erice as the Caloocan City 2nd Dis­trict rep­res­ent­at­ive-elect last May 13 after get­ting 105,363 votes, beat­ing then incum­bent con­gress­wo­man Mitch Cahayon-uy.

THE prevalence of natural disasters has significantly increased in recent decades, leading to substantial liabilities for damaged infrastructure, injuries and mental health issues. According to disaster epidemiology in 2025, climate-induced hazards like floods, storms and extreme heat are raising mortality rates, morbidity and economic losses, with countries like the Philippines facing the highest disaster risk.

For over two decades, the Philippines has experienced frequent storms and floods, accounting for nearly two-thirds of all disasters from 2000 to 2024. The International Disaster Database (EM-DAT) reports 201 storms and 109 floods, significantly more than other disasters like volcanic activity (18), epidemics (11) and earthquakes (25). The country’s vulnerability to natural disasters, particularly tropical storms and earthquakes, due to its location in the ‘Ring of Fire,’ remains a concern. Despite this experience, anticipation and response strategies have not improved, leading to frustration.

Corruption significantly undermines the country’s ability to prepare for and respond to disasters. Many provinces affected by typhoons are among the poorest, and while improved infrastructure could mitigate these impacts, overlooked building codes and misused public funds hinder necessary investments. This not only prevents vital resources from reaching those in need but also highlights the struggles facing these communities.

Corruption extends beyond government to the private sector, including banking. Recent media reports indicate a rise in fraud and corruption risks within the banking and financial services industry. Cases of mortgage fraud, insider trading and kickbacks reflect systemic issues, with employees often collaborating with external parties, increasing the likelihood of unnoticed fraudulent activities.

Exploring regulatory responses and embracing a historic development

REGULATORY bodies are increasingly focusing on fighting corruption across various sectors, not just banking. However, challenges remain due to complex financial transactions and evolving financial crimes.

Dr. Donald Patrick L. Lim from the Blockchain Council of the Philippines, along with Secretaries Henry Rhoel R. Aguda and Vince B. Dizon, launched the ‘Integrity Chain,’ a blockchain platform for transparency in national infrastructure projects. This initiative received support on September 30, 2025, at an event attended by over 50 organizations, including the Bank Marketing Association of the Philippines (BMAP).

In my recent ‘chikahan’ with our PCEO after the 7.6 magnitude earthquake in Davao, he uttered: ‘Judith, inaalog na tayo ng Panginoon.’ (Judith, the Lord is shaking us.) More Filipinos from the poorest socioeconomic bracket believe that calamities are God’s ways of punishing people for their evil ways, a survey by Pulse Asia Research Inc. revealed.

A rallying cry for moral action!

CHURCH leaders advocate that instead of perceiving hardships as divine curses, Filipinos should see accountability as a sacred duty. Cardinal José Advincula emphasizes that public demands for transparency and justice are ‘manifestations of the people’s collective moral conviction’ and an obligation to suppress evil in society.

Transcending divine retribution

EXAMINING the consequences of corruption through human responsibility enables citizens to drive meaningful change. Encouraged actions include:

Civic engagement: Vote wisely, participate in local oversight, and support independent watchdogs to promote accountability.

Institutional reform: Advocate for transparent procurement, support open-data initiatives and strengthen anti-corruption bodies to foster integrity and trust.

Spiritual resilience: We can nurture hope by coming together for community prayers, providing ethical leadership training and building grassroots solidarity. In unity, we can uplift each other and foster a spirit of resilience during challenging times.

SARAH ABABA clawed her way back from five strokes down with a fearless charge on the closing holes then outlasted Chanelle Avaricio in a pressure-packed second playoff hole to capture the International Container Terminal Services Inc. Del Monte Championship in dramatic fashion on Thursday.

Trailing for most of the day and facing what looked like an insurmountable deficit, Ababa summoned the composure and tenacity of a seasoned warrior and birdied three of the last five holes with clinical precision to cap a final round 70 that put her at 211.

That was just enough to catch a faltering Avaricio, who stumbled home with a 72 after a sizzling start.

‘I didn’t expect to win-I was 2-down with two holes to go,’ said Ababa, who trailed by as many as five shots midway through the final round after Avaricio scorched the front nine with a 33 while she managed only a 36. ‘I was totally scared.’

But golf, as ever, is a cruel test of nerves.

Ababa mounted a stunning comeback that forced a sudden-death playoff at five-under total.

The two players matched par on their return trip to the par-five 18th, but on the second playoff hole, Ababa delivered under pressure and made a crisp drive and a second shot followed by a precise approach from 75 yards to set up a winning birdie.

Avaricio, clearly rattled, couldn’t respond.

‘It was the perfect yardage for me-75 yards. I’m really confident from inside 100 yards,’ said Ababa, who pocketed the P125,000 top purse for her fourth career title in a 12-year pro journey.

The victory was especially sweet for the Davaoeña veteran, who lost in similar sudden-death fashion to Princess Superal at the Caliraya Springs Championship last August.

But this one meant the most for her.

‘This victory is so very special for me because I didn’t expect this at all,’ she said.

Ababa, who drew inspiration from her parents who came all the way from Davao to support her, said she was especially motivated by her father, former pro golfer Edgar, who served as her caddie for all three days.

The win couldn’t have come at a better time and servedas a major confidence booster as the Ladies Philippine Golf Tour heads to her hometown of Davao for the next two legs at Apo Golf and South Pacific.

For Avaricio, the loss was a bitter pill.

The former Alabama State standout looked poised to run away with the title after carding a scorching 33 on the front nine.

Avaricio, who settled for P82,000, unraveled under the mounting pressure of the back nine, bogeying Nos. 10, 11 and 12 in rapid succession.

And although she momentarily steadied with a birdie on No. 15, a bogey on the 17th left her clinging to a one-shot lead entering the final hole.

She had one last chance to close it out, but failed to convert on the reachable par-five 18th while Ababa calmly rolled in a six-foot birdie to force extra holes-and ultimately snatch victory from the jaws of defeat.

The loss marked a stinging reversal for Avaricio, who had dominated at Forest Hills earlier in the season. But on this day, with the trophy in sight, it was Ababa who had the mettle to finish the job.

Martina Miñoza closed strong with three birdies over the last six holes for a 68 to secure a career-best third-place finish at 212 worth P66,000 and last year’s Order of Merit champion Harmie Constantino saw her late charge stall with a string of pars for fourth at 213 after a 70.

Tiffany Lee also delivered a solid finish, birdieing two of her last three holes to post a 68 and claim solo fifth at 215. She hopes to carry this momentum into the upcoming Davao legs at Apo and South Pacific.

Daniella Uy, who was just one stroke behind leader Avaricio after 36 holes, struggled in the final round. She went birdie-less and carded a 76, marred by a double bogey on the 17th, slipping to sixth place at 216. The 2023 champion couldn’t replicate her previous success.

Velinda Castil stumbled with a 74, dropping into a tie for seventh at 217 alongside Kristine Fleetwood, who faltered with a 75. Mafy Singson, coming off a strong second-round 69, also fell back with a 75 to finish ninth at 218.

Florence Bisera, riding high after a comeback win in Negros Occidental and a breakthrough victory in Thailand last month, turned in a disappointing final round of 74. She ended in 10th place at 220 in the sixth leg of this year’s LPGT.

THE National Task Force West Philippine Sea (NTF-WPS) on Wednesday night said it welcomes the latest Pulse Asia survey that shows the Filipinos ‘strong confidence’ in the government’s policy of transparency and resolute defense of the country’s sovereignty, sovereign rights, and jurisdiction in the WPS.

‘We thank the Filipino people for their trust in the NTF-WPS and its member agencies, particularly the Coast Guard [PCG], the Navy [PN], and the Armed Forces [AFP], all whom gained high trust ratings from the public,’ it said in a statement.

The same survey also had 41 percent of respondents identifying the PCG as the most trustworthy government agency for updates and reports concerning the WPS.

‘This strong vote of confidence is not just a reflection of institutional performance; it is a reflection of national unity in the face of continuing challenges to our sovereignty,’ NTF-WPS added.

The survey results send a clear and powerful message: the Filipino people stand for truth, transparency, and the defense of what is rightfully ours.

‘We also draw our strength from the fact that 94 percent of respondents believe that the Philippines should continue its transparency policy and persist in publicly exposing China’s coercive and aggressive behavior,’ it noted.

With this, NTF-WPS pledged to sustain and further strengthen it transparency policy.

‘We will continue to shine light on every illegal, coercive, aggressive, and deceptive (ICAD) activity in our waters. We will not be silenced, we will not be intimidated, and we will never turn away from our duty to defend the Filipino people’s rights and the nation’s dignity,’ NTF-WPS said.

Also, the survey’s findings that 77 percent of respondents identified the United States as the top country the Philippines can rely on reflects the enduring strength of the Philippine-US alliance.

It also said that this partnership is rooted in shared values, mutual respect, and a common commitment to peace, stability, and the rule of law.

‘This reinforces the need for the Philippines to strengthen its partnerships with like-minded nations who believe in a rules-based international order and a free and open Indo-Pacific,’ the agency added.

Anthony Edwards devoted much of his previous two offseasons to the US national team for the World Cup and the Olympics, coming off intense runs through the NBA playoffs with the Minnesota Timberwolves.

As valuable as those experiences were for his flourishing career, the time Edwards had for his own training this past summer was instrumental toward his desired development into a true MVP candidate on a legitimate title contender.

‘I feel like I was able to actually work on my game,’ he said.

For all he’s done on the court over his first five seasons in the league, Edwards is still a 24-year-old with plenty of room to improve. As Timberwolves player development coach Chris Hines has told him often, ‘Greatness is boring,’ a maxim seemingly tailor-made for Edwards.

‘There was a lot of boring days in the gym, just working on one-dribble pull-ups,’ he said. ‘But I think it benefits me.’

In the annual preseason survey of NBA general managers, Edwards was the runaway winner in voting for the best shooting guard in the league with a 70% share. But that doesn’t mean he’s the most complete player at that star-studded position.

‘I think he became really addicted to the film room this offseason. His work ethic has always been great, but this summer has been a whole other level,’ president of basketball operations Tim Connelly said. ‘I think he’s really focused on how to be more effective late in games, not just for himself but for others. His body is in unbelievable shape. It’s pretty impressive to see how quickly he has matured, not just as a player, but as a professional with his approach. He’s going to have another great year.’

The first part of his game the Wolves want advanced is on defense, where Jaden McDaniels typically plays the primary role of guarding the opponent’s top scorer. Edwards, never lacking for confidence, believes he can give McDaniels a break here and there by doing the same.

‘As the head of the snake, sometimes you’ve just got to take those matchups, just to show people I can play defense too,’ Edwards said. ‘We can’t make Jaden guard the best player every night. Some nights he’s got to get the ‘B’ player, let me get the ‘A’ player. And like I said, it’s going to get me in better shape, man. It’s about trying to push myself so I can get in better shape around February and March, heading into the playoffs.’

Edwards looks leaner than he did last season, evidence of his summer conditioning in renewed pursuit of two-way stardom. He committed to getting more sleep, too, the key to physical recovery and refreshment.

‘We’re trying to get back to the number one defense in the league, and I know it starts with me, especially my pressure on the ball. I can’t guard one game and not guard the next game because we’re playing, you know, somebody who’s not up to par,’ Edwards said. ‘I’ve got to be ready every night, and I’m going to take pride in that. I told my teammates to hold me accountable, coaches included.’

At the team dinner the night before the first official practice, point guard Mike Conley led a discussion of what steps the Wolves must take on the floor and in their minds to get over the conference-final hump.

‘What’s our goal? Are we coming here to put on a show, perform? Or are we trying to win a championship? What are we doing? And the consensus is, we’re trying to win a championship,’ Conley said. ‘Ant, if you want to win a championship, we expect you to guard like you’re a top-five perimeter defender in the league, which we believe you are.’

Coach Chris Finch, asked on Tuesday for an assessment of Edwards’ buy-in to the goal of even better defense than the Wolves displayed last season, said he has ‘no doubt’ that his best player is serious about it.

‘We’ve talked a lot about consistency and the consistency of habit as one of the areas of improvement no matter what it pertains to. Ant has got to measure up here. We might do different things with matchups that put him in more high-leverage situations, which we know he can do and he enjoys,’ Finch said. ‘It’s an NBA mantra that if you do so much on offense, you’re allowed to not play defense. The best teams don’t do that. They do what’s necessary as much as they possibly can.’

Being that ‘every-night’ player

There are plenty of finer points of playing offense that Edwards can elevate, too. He worked hard on ballhandling during the summer, a skill he acknowledged has often been skipped because of the discomfort certain drills can create on his lower back. That ought to help improve his performance in the clutch-time situations that frequently hampered the Wolves last season.

Another way he can more consistently beat double-teams is to not allow the opponents get to that point by pushing the pace and running in transition more often. Recognizing ways to keep the offense better spaced in the half-court, too, can only help. Sometimes, players as talented as Edwards also simply need to find new ways to stay motivated during the regular season.

‘Try to get a career high in points,’ Edwards said without hesitation when asked at the team’s media day how he can stay more engaged. ‘I think that’s what I’m going to try to do.’

However he does, it doesn’t matter much to the Wolves.

‘Just continue to be that every-night player at a high level that we know he can be, which is what you need to do if you want to be an MVP in this league,’ Finch said. ‘I certainly think he’s got the DNA for it, and he just has to really fully embrace it.’

THE Social Security System (SSS) announced last Thursday the activation of its Calamity Loan Program (CLP) for members in Davao Oriental who were affected by the two powerful earthquakes that struck the province last week.

SSS President and CEO Robert Joseph Montes De Claro was quoted in a statement the agency issued that the program aims to give ‘timely financial support to SSS members living or working in the earthquake-affected areas.’

Following the declaration of a State of Calamity for all 11 cities and municipalities in Davao Oriental by the National Disaster Risk Reduction and Management Council (NDRRMC) due to the twin earthquakes, De Claro emphasized the commitment of the SSS to assist its members during this difficult time.

The earthquakes struck last October 10, with the first measuring 7.4 magnitude at 9:43 a.m. and the second with a magnitude of 6.8 at around 9:12 p.m. The epicenter was near Manay, Davao Oriental. The NDRRMC reported that over 200,000 families were affected and nearly 13,000 individuals were displaced.

Qualified members can avail of calamity loans of up to P20,000 at a lowered interest rate. Applications can be filed online through their My.SSS account and approved loans will be credited directly to the member’s enrolled bank account.

The revised CLP guidelines, issued earlier this year, enable faster activation within seven working days of a calamity and feature a reduced interest rate of 7 percent per annum for members with good credit record, down from 10 percent. The streamlined process enables SSS to provide immediate relief to members affected by natural disasters, such as the earthquakes in Cebu and Davao Oriental.

To qualify for the calamity loan, members must meet the following criteria: reside or work in an area declared under a State of Calamity; have at least 36 monthly contributions, with at least six posted within the last 12 months before filing. Individually paying members must have paid six contributions under their current membership type; have an active My.SSS account; have no past due loans or outstanding restructured loans; have not been granted any final benefit; be of legal age and under 65 at the time of application; and, have not been disqualified due to fraud against the SSS.

Employed members are reminded that their employers must be updated on SSS contributions and loan remittances to qualify.

De Claro also pointed to the SSS’s Pension Loan Program (PLP), which was also recently enhanced allowing retirement pensioners to borrow up to P300,000.

Now, survivor pensioners can also avail of the PLP and borrow up to P150,000, he added.

‘Thus, there is a loan facility for actively contributing members and for retirement or survivor pensioners,’ De Claro said through the statement.

Maya PHilippines Inc. revealed last Thursday that the digital payments and financial services company saw a ‘structural shift’ in how Filipinos are accessing credit, with more than a third of ‘Maya Black’ credit cardholders now entering through a deposit-backed card.

According to Maya, about 37 percent of these cardholders originated from the firm’s other credit card product (‘Maya Black Express’), which uses customer deposits as collateral.

Maya Group President and Maya Bank Inc. Co-founder Shailesh Baidwan said the figure signals growing demand for alternative pathways into formal credit in a market where traditional barriers have kept penetration stubbornly low.

‘When given the right entry point, Filipinos are ready to engage with credit on their own terms,’ Baidwan said. ”Maya Black Express’ provides both dignity and discipline-perks from day one, and a clear path to grow responsibly.’

Credit card penetration in the Philippines remains at approximately 15 percent of the adult population, leaving millions locked out of formal credit systems. The challenge is circular: consumers need credit history to qualify for cards, but need cards to build that history in the first place.

According to Maya, its ‘Black Express’ card attempts to break this cycle by allowing users to secure a credit line with a refundable deposit starting at P12,500. The deposit determines 80 percent of the user’s credit limit and earns 3.5 percent annual interest-above typical savings rates-while serving as collateral.

Unlike traditional secured cards that offer basic features, the ‘Black Express’ users enjoy a numberless card with dynamic CVV for enhanced security, no annual fees for life, complimentary global airport lounge access, and rewards through Maya’s merchant network.

ANZ Research has said that credit card spending is one of the drivers of private consumption in the country. Filipinos swiping their credit cards and obtaining loans against their salaries are helping boost consumption spending in the country but these are deemed ‘unhealthy’ practices, the research unit of the Australia and New Zealand Banking Group Ltd. added.

Another goal, another record for Cristiano Ronaldo.

The 40-year-old Ronaldo became the player with most goals in World Cup qualifiers after scoring twice for Portugal in its 2-2 draw with Hungary on Tuesday.

His first goal – from close range in the 22nd minute – was Ronaldo’s 40th in a World Cup qualifying match, breaking a tie with former Guatemala player Carlos Ruiz.

The Al-Nassr striker then added a second in first-half stoppage time to extend his record to 41 goals in the 50 World Cup qualifiers he has played.

Ronaldo now has a record-extending 143 goals in men’s internationals.

He left the field in the 78th minute with the score at 2-1 and Hungary equalized in stoppage time through Dominik Szoboszlai, preventing Portugal from clinching a spot in the World Cup with two group games to spare.

Portugal still leads Group F by five points ahead of second-place Hungary.

A NEW policy research hub has opened in Cotabato City to make development studies more accessible in the Bangsamoro region.

The Philippine Institute for Development Studies (PIDS), in partnership with the Bangsamoro Planning and Development Authority (BPDA), launched a PIDS Corner at the BPDA Library on September 25 during the 2nd Bangsamoro Development Policy Research Forum.

The Cotabato facility is the 27th of its kind established across the country.

The PIDS Corner houses computers and a collection of the institute’s research publications, including Development Research News, Policy Notes, Research Paper Series and the Philippine Journal of Development.

The hub is intended to serve local policymakers, researchers and students in areas where access to policy resources is limited.

‘For nearly two decades, our PIDS Corner program has been a cornerstone of our mission to bring policy research closer to our policymakers, researchers, students, and communities,’ PIDS President Randy Tuaño.

There are currently 14 PIDS Corners in Luzon, six in the Visayas, and seven in Mindanao.