Category: Business Mirror

THE tournament is young but already, three schools are showing signs of dominance in Season 88 of the University Athletic Association of the Philippines (UAAP) men’s basketball championship.

Surprisingly, Ateneo is on top with an unbeaten 3-0 win-loss slate going into the fourth day of first round eliminations.

I can only think of Kymani Ladi as the significant power behind Ateneo’s resurgence.

At 6-foot-7, Ladi can shoot threes with the ease of a gazelle about to soar. The 23-year-old is from Vallejo, California, whose Filipino father is of Puerto Rican descent.

‘He is also a smart defender,’ Ateneo coach Tab Baldwin said of Ladi in a recent interview with Spin.ph columnist Homer D. Sayson. ‘He plays offensively, with perimeter skills. He is a smart defender.’

But while Ladi may emerge as Ateneo’s savior and prove to be the key to the Blue Eagles’ redemption mission, I have to concede that University of Santo Tomas is also armed this time with a reinforcement looking every bit as a complete package.

I refer to Collins Arkowe, the massively built Nigerian, whose 6-foot-10 frame is packed with 260 pounds of pulverizing power.

In just two games, Arkowe is already producing statement stats that could yet translate into serious title hopes for the Growling Tigers from España.

First, he debuted with 29 points and 17 rebounds in University of Santo Tomas’s (UST) ghastly 87-67 rout of defending champion University of the Philippines, playing practically unstoppable in the shaded lane and transforming the boards into his own private domain.

And then in his second game, he fired 20 points and grabbed 19 rebounds, sparking a rally that erased a 12-point deficit en route to UST’s 93-84 spanking of De La Salle.

At the rate he’s been playing, Arkowe might yet shoulder the Tigers into greater heights-if not into the championship-given that he’s got great back-up in both Nic Cabanero and Forthsky Padrigao.

In both wins of UST, Cabanero and Padrigao dished off their usual deadly sting-with Cabanero continuously carving baskets even on tight situations and Padrigao also firing triples and unleashing his trademark assists in abundance.

I won’t be surprised if, this early, UST coach Pido Jarencio is dreaming to finally end a title drought of 19 years-and duplicating his 2006 victory as a rookie coach.

Jarencio faces another acid test today when UST battles National University (2-0) in a battle of unbeaten teams at 4:30 p.m. at UST’s Quadricentennial Pavillion on España.

It could be an emotional game for Arkowe as he squares off for the first time with the school where he first honed his skills as a junior player at NU.

The game is preceded by the match between La Salle (1-1) and winless Far Eastern U (0-2) at 2 p.m.

THAT’S IT Also unfolding today is the duel between Luzon/ICTSI and VisMin junior teams at the windswept but beautiful The Country Club in Santa Rosa, Laguna. The boys and girls golf skirmishes in the Ryder Cup-style competition is in 7-10, 11-14 and 15-18 age groups. Good luck to Francis Talion, who is Luzon team captain where his daughter, Levonne, is a mainstay in Luzon’s 15-18 division.

Siam Cement Group (SCG), a leading business conglomerate founded in Thailand, continues its long-standing commitment to education by awarding scholarships to 290 deserving students in the 17th year of its ‘Sharing the Dream’ program.

Since its inception in 2008, the program has been a cornerstone of SCG’s corporate social responsibility efforts, providing essential educational assistance to underprivileged yet promising students across the regions where the company operates-including countries like the Philippines, Vietnam, Indonesia, Cambodia, and Laos.

This year’s theme, ‘Green Generation,’ highlighted the program’s strong belief that every person’s potential matters and that education is the key to building a stronger, more sustainable nation.

SCG Country Director Mr. Jirasak Kaewubol echoed this theme, stating, ‘We believe in the value of individuals. That’s why we believe building human capital is the most important, which we achieve through education and upskilling people. That is what we have been doing for so many years.’

The official turnover ceremony on September 12 at Acacia Hotel Manila saw 250 high school students and 40 college students from Batangas, Manila, Bulacan, and Taguig receive their scholarships.

High school students were awarded an educational assistance package of P12,000 each while the college students were given P20,000 annually to support their educational journeys.

‘The Royal Thai Embassy really appreciates the initiative of SCG. SCG also plays a part in promoting people-to-people connections, which I think is very important and is a strong foundation for every policy that the government would like to move forward with,’ said Her Excellency Makawadee Sumitmor, the Thai Ambassador to the Philippines.

A privilege and a commitment

For 17 years, the Sharing the Dream program has awarded over 4,000 scholarships in the Philippines. This enduring commitment is rooted in a meticulous selection process that carefully chooses students for whom the scholarship will be an instrumental stepping stone toward their dreams.

High school applicants must maintain an average grade of 85% or higher with no grade below 80%, while college student applicants must maintain a general weighted average of at least 1.75. All applicants are also required to demonstrate active participation in non-academic and extracurricular activities.

An SCG scholarship alumnus, Ma. Jesiery Rose F. Guevarra, knows this process well, having received scholarships from SCG for both high school and college, which helped her achieve her dream of becoming a nurse.

‘It’s important for you to be true to yourself for them to see the genuineness of your heart,’ she advised, adding that showing eagerness is crucial for SCG to see an applicant’s true intentions and promise.

Guevarra, who benefited from the program’s support, describes the scholarship as ‘a fuel of my dreams. because when you know there’s someone willing to help you, that’s when you push forward to dream more.’

Similarly, former SCG scholar Ma. Theressa F. Orbeta, who received support for eight years and is now an employee of the company, highlighted the program’s holistic approach. ‘SCG doesn’t just help us financially; we gradually discover ourselves and realize our dreams,’ she said.

Orbeta further emphasized the program’s focus on personal growth beyond financial assistance. ‘I also experienced collaboration and socializing activities with other scholars,’ she explained. ‘Through these, we learned about their stories and also gained emotional intelligence.’

‘The Royal Thai Embassy really appreciates the initiative of SCG. SCG also plays a part in promoting people-to-people connections, which I think is very important and is a strong foundation for every policy that the government would like to move forward with,’ said Her Excellency Makawadee Sumitmor, the Thai Ambassador to the Philippines.

A partnership for uplifting Filipino lives

The partnership between SCG and the Department of Education is a powerful one, as highlighted by DepEd Director, Atty. Camara Jr.

He emphasized: ‘We see through the high school students that it was not only the material things that were brought in, but actually the confidence that empowers them. That actually changes not only their lives but the lives of their families and the communities as well.’

Atty. Camara further elaborated on the broader impact of this collaboration. ‘This partnership brought not only the resources of SCG but also a sense of solidarity between our two countries,’ he said.

He believes the program demonstrates how international friendship and industry collaboration can significantly strengthen a nation’s local education system. ‘SCG’s presence in our communities shows that the challenges of poverty and inequality can be confronted not just by the Philippines, but with our partners,’ he added.

Drawing on its 17-year history of providing educational support in the Philippines, SCG’s ‘Sharing the Dream’ program continues to champion the next generation of Filipino leaders. The initiative goes beyond financial aid, strategically investing in students from select areas by providing comprehensive assistance, fostering strong character, and encouraging active community participation.

The Securities and Exchange Commission (SEC) has approved the rental pool program of Damosa Land Inc., the first securities issuer to successfully register under the streamlined guidelines on Securing and Expanding Capital in Real Estate Non-Traditional Securities or SEC RENT.

In its en banc meeting, the agency approved company’s registration statement covering 100 certificates of participation in the condotel project of TRYP by Wyndham Samal.

Valid for 20 years starting from the date of the operation, the certificates cover 94 standard class condotel units with an offer price of P50,000; four deluxe class units worth P75,000 each; and two suite class units with an offer price of P100,000 each. All units in TRYP by Wyndham Samal will be enrolled under a mandatory condotel rental pool program. Each unit will automatically be included in the rental pool upon purchase, allowing it to be marketed, rented and managed as hotel accommodation for hotel guests without transferring ownership.

The rental pool arrangement is expected to gross up to P5.2 million, which will be used to fund the company’s pre-operating expenses and to provide a buffer for the first three months of operations.

The project, located in Barangay Limao, Samal, Davao del Norte, is expected to be launched in the fourth quarter this year, with construction set to begin in the first quarter of 2026. The project is expected to be completed in the third quarter of 2028, with the opening scheduled in the fourth quarter of the same year, according to its latest timeline submitted to the SEC.

Implemented through SEC Memorandum Circular No. 12, Series of 2024, the SEC RENT streamlines the registration process for securities of real estate firms involved in selling or offering investment contracts through rental pool agreements.

Rental pool agreements involve deals where a property developer sells or offers units in real estate projects such as condominiums, hotels or resorts to the public. Under the deals, buyers contribute the units to a rental pool managed and operated by the company or a third-party operator. In turn, the buyers are entitled to receive a share in profits earned by renting out the units to third parties.

THE Department of Information and Communications Technology (DICT) is turning to blockchain as its weapon of choice against corruption, banking on the technology’s permanence to protect government transactions from tampering or erasure.

ICT Secretary Henry Aguda said blockchain’s strength lies in its design: data stored on the chain cannot be altered or deleted, creating a permanent, verifiable record of transactions.

Aguda described this feature as an ‘immutable ledger’ that would allow the public to trace everything from budget allocations to actual purchases, ensuring a single version of the truth.

‘The nice thing about it is it’s immutable. So if there [is] anything unusual in the database, even if you don’t see it now, you can still find it down the road,’ he said. ‘You have an immutable ledger, meaning it will forever be there. It’s a single version of the truth.’

The DICT chief said this digital safeguard comes at a critical moment, as the government grapples with revelations that some Department of Public Works and Highways (DPWH) employees tampered with or wiped out project records that could have implicated them in the multibillion-peso flood control corruption scandal.

The Independent Commission on Infrastructure (ICI) recently disclosed that some files had been destroyed, complicating efforts to establish accountability for projects that were either substandard or never built at all.

‘[With blockchain] the data is not stored in one place, it’s distributed. It’s not like we can just delete or destroy the server,’ Aguda said.

At the same event, FPJ Panday Bayanihan Party-list Rep. Brian Llamanzares, vice chair of the House Committee on Appropriations, pushed House Bill 4489, or the proposed Blockchain for Government Transparency Act.

The House measure seeks to mandate that the entire national budget be placed on blockchain, ensuring citizens can independently verify every peso allocated, released, and spent.

‘When we’re talking about blockchain and how it works, we want all government transactions to be verified on the chain. What we’re doing is putting digital infrastructure in the Philippines that allows people to view these through a public portal,’ Llamazares said.

Marc Boiron, the CEO of blockchain company Polygon Labs, noted that ‘putting a national budget on-chain shows a bold commitment to transparency and accountability.’

‘This is exactly the point of blockchain technology, and it positions the Philippines as a leader that others will want to follow,’ he said.

First Gen Corp. (FGen) and the Manila Electric Co. (Meralco) are currently in talks for another extension of their gas deal that will eventually pave the way for the continued supply of electricity being sourced from FGen’s gas plant in Batangas.

‘You know that the Sta. Rita was extended up to January, but we’re hoping that will also be extended beyond. But that’s work in progress,’ said First Gen President Francis Giles Puno.

The Energy Regulatory Commission (ERC) had granted a five-month extension, or until January 2026, of their power purchase agreement (PPA), effectively averting the shutdown of the 1,100-megawatt (MW) Sta. Rita gas power plant.

Puno, however, could not yet say how long First Gen and Meralco want the gas deal to remain in effect. ‘That’s currently in negotiation.’

Meralco utility economics head Lawrence Fernandez had said that during this period both parties will continue negotiations on the PPA extension and will have to go back to the ERC after the negotiation.

Without the extension, First Gen would likely be constrained to shut down the Sta. Rita plant, the biggest among the four-gas fired power plants it operates in its Clean Energy Complex in Batangas. However, the extension may result in higher generation rates, the ERC noted in its previous decision.

‘Although the motion evidently impacts Meralco’s generation charge.there exist other equally compelling and urgent reasons that justify the proposed extension,’ the ERC said.

‘The issue transcends mere rate concerns and becomes a matter of energy security. Such a scenario could lead to widespread blackouts, with repercussions extending beyond potential increases in Meralco’s generation charge. Ultimately, the resultant blackouts could severely impact the national economy. In the end, this is what the commission is asked to reconsider and rule upon.’

These reasons, added the ERC, are anchored in policy considerations, such as ensuring grid and supply security and reliability, which fall more appropriately within the purview of the Department of Energy (DOE).

The DOE, for its part, told the ERC that the interim extension will not violate any DOE policy, particularly the competitive selection process (CSP) requirement because the Sta. Rita PPA was approved pre-Electric Power Industry Reform Act (Epira). Hence, the PPA is beyond any CSP policies issued by the DOE under Epira.

First Gen’s PPA with Meralco involving the 420-MW San Gabriel gas plant already expired last year while a similar agreement involving the 500MW San Lorenzo gas plant will expire in 2027.

Last August, First Gen said it recorded a slight increase in its net income at $151 million (P8.6 billion) in January to June from $150 million (P8.4 billion) a year ago due to lower revenues. Revenues stood at $1.213 billion (P69.3 billion), down 5 percent from $1.278 billion (P72.1 billion) because of lower electricity volumes, particularly in the gas platform, sold during the period.

The natural gas portfolio accounted for 66 percent of the company’s total consolidated revenues, while 30 percent came from the geothermal, wind and solar plants of Energy Development Corp. (EDC). The balance of 4 percent comes from the company’s hydroelectric power plants.

Meanwhile, Meralco reported last July that it will close the year with about P50 billion in consolidated core net income (CCNI), higher than last year’s P45.1 billion, after posting a CCNI of P25.5 billion in the first half.

In the first half, Meralco’s CCNI stood at P25.5 billion from P23.2 billion in the same period last year, with the distribution business accounting for the largest share of 54 percent or P13.7 billion. It also realized significant contribution from the growing power generation business with its share now at 37 percent to P9.4 billion of the CCNI.

The retail electricity supply and non-electricity businesses, meanwhile, brought in a combined P2.4 billion or 9 percent.

THE lawyers of former President Rodrigo Roa Duterte are asking the Pre-Trial Chamber of the International Criminal Court (ICC) to first determine whether his deteriorating health affects his ability to stand trial.

‘Mr. Duterte’s cognitive impairment is sufficient to warrant litigation of the matter prior to the holding of the confirmation hearing,’ said his counsel, international lawyer Nicholas Kaufman. ‘In light of the aforementioned, and given their relevance, the Defense hereby submits the present medical information into the case record.’

In a public redacted filing dated September 29, 2025, Kaufman submitted new medical records to support his claim that Duterte is suffering from cognitive impairment.

The submission is part of the ongoing case which investigates alleged crimes committed during Duterte’s presidency, particularly in connection with his controversial war on drugs.

The defense said two separate medical evaluations-one by a professional appointed by the ICC Detention Centre and another by a defense-proposed expert-corroborate the impairment and raise serious concerns about Duterte’s legal competency. The legal team also requested a status conference before the court’s judicial recess to address the matter urgently.

However, the prosecution strongly opposed the defense’s move, arguing that the medical submissions are irrelevant to the Chamber’s determination on interim release. In its own filing, also dated September 29, the Office of the Prosecutor said Duterte remains a flight risk, could interfere with proceedings, and may commit further crimes if released.

The Prosecution criticized the Defense for filing the medical challenge five months after Duterte’s initial appearance, and after key procedural deadlines had passed. It noted that during those months, Duterte was able to instruct his legal team to file jurisdictional challenges, request the disqualification of judges, and negotiate conditions for interim release-suggesting he was mentally competent enough to participate in legal strategy.

‘The Defense has unnecessarily delayed the proceedings,’ the Prosecution said, adding that the Chamber had already made clear that any postponement of the confirmation hearing would be ‘limited to the time strictly necessary’ to assess Duterte’s fitness.

The public versions of both filings redact specific medical details and internal negotiations.

Duterte, who served as president from 2016 to 2022, faces accusations of crimes against humanity for thousands of deaths linked to his anti-drug campaign. He has consistently denied wrongdoing and previously dismissed the ICC’s jurisdiction over the Philippines.

The ICC has yet to issue a ruling on the Defense’s latest request.

THE National Collegiate Athletic Association (NCAA) hopes to pick up from where it left off last year as it ushers its 101st season on Wednesday beginning with the centerpiece seniors basketball at the Smart Araneta Coliseum.

Teams which played in last year’s Final Four will have a rematch right away on opening day as defending men’s champion and host school Mapua University battles Lyceum of the Philippines University and College of St. Benilde clashes with San Beda University.

The Cardinals-Pirates tussle is set at 2:30 p.m. followed by the Blazers-Red Lions match at 5 p.m.

An elaborate opening ceremony starting at 12 noon precedes the doubleheader with performances to be provided by songstress Thea Astley, Hannah Precillas, Naya Ambi and Aicelle Santos.

Philippine Sports Commission chairman Patrick ‘Pato’ Gregorio will be the guest speaker when the country’s grand old collegiate league ushers its next 100 years.

‘Easy to recall, Season 101, and we’ll open on October 1. 10-1. So things like that. And with this year’s theme ‘Building Greatness,’ I’m sure for the past 100 years of NCAA, you’ve seen student-athletes rose to the elite level,’ Jose Rizal University athletic director Paul Supan said in Tuesday’s Philippine Sportswriters Association Forum at the Rizal Memorial Sports Complex.

‘So in the next 100 years, in coordination with the PSC and member schools, we hope to sustain our contribution to the national training pool.’

Emilio Aguinaldo College Vice President for Administration Dr. Lorenzo Lorenzo appeared with Supan in the session presented by San Miguel Corp., PSC, Philippine Olympic Committee, Milo, Smart/PLDT and the country’s 24/7 sports app ArenaPlus.

In line with the NCAA’s goal of providing the national training pool with potential members, Lorenzo said the collegiate league is introducing the Olympic sports of gymnastics, weightlifting, boxing and golf in this year’s calendar.

All four sports will initially be demonstration in nature to be played in the second semester.

‘The NCAA and PSC will form a partnership in terms of training and developing these grassroots athletes,’ Lorenzo said.

Supan said under NCAA rules, a demonstration sport that has been played for three straight seasons can be elevated to regular status subject to certain conditions.

Weightlifting (Hidilyn Diaz-Naranjo) and gymnastics (Carlos Yulo) provided the three gold medals won by the country in the Olympics.

New format will also be adopted in basketball, whose games will be played in

The NCAA will stage the basketball games in its original home-the Rizal Memorial Coliseum.

‘This is our home and most of us will acknowledge, this is where the NCAA started,’ said Supan, noting the juniors basketball that kicks off on Thursday will be played at the Ninoy Aquino Stadium between Mapua and Lyceum and St. Benilde and San Beda.

Other sports to be played at the Rizal Memorial Sports Complex are taekwondo, swimming, lawn tennis and hopefully, football, while track and field will be staged at the PhilSports Complex in Pasig City.