Category: Business Mirror

A 2-kilometer farm-to-market road (FMR) in Barangay Bilibinwang, Agoncillo, Batangas is expected to boost farm production, benefiting agrarian reform beneficiaries in the area.

The Department of Agrarian Reform (DAR) Batangas, in coordination with the Department of Public Works and Highways (DPWH) Batangas District Engineering Office No. 3, and representatives from the DAR Central Office (DARCO) and DAR Regional Office (DARRO), recently conducted a final inspection of the completed road project.

Spanning 1.9821 kilometers across three sections, the FMR is expected to provide agrarian Agrarian Reform Beneficiaries and farming communities in the area with safer and more convenient access to markets, agricultural production areas, and essential services.

The final inspection aimed to ensure that the completed road meets the prescribed standards for quality, safety, and durability before its formal completion and use by the intended beneficiaries. The inspection team also identified necessary corrective measures for the contractor to address, ensuring that all remaining concerns are resolved and that the project fully complies with the required specifications.

For the ARBs of Barangay Bilibinwang, the road is more than a transportation link. It is an important infrastructure that can help ease the movement of farm inputs and agricultural products, reduce transportation challenges, and provide farmers with better opportunities to bring their produce to markets.

Provincial Agrarian Reform Program Officer II Abdullah Balindong emphasized that investing in reliable rural infrastructure is essential to supporting ARBs and strengthening their capacity to sustain and improve their livelihoods.

‘A farm-to-market road is more than just a physical connection. For our agrarian reform beneficiaries, it is a pathway to better market access, lower transportation costs, and greater opportunities to increase the value of their farm produce. By ensuring that these projects are built to quality standards, we are investing in the productivity, income, and long-term welfare of our farmers,’ he said.

The DAR continues to work closely with partner agencies to ensure the timely and quality implementation of FMR projects that directly respond to the needs of ARBs and farming communities.

MAG-IINA, a psychological horror film about three generations of women haunted by grief, madness, and a dark family secret, topped the winners’ list at the 2026 Cinemalaya Philippine Independent Film Festival.

Directed by Guelan Varela-Luarca and Giancarlo Abrahan, the film won the prestigious Balanghai trophy for Best Film in the Full-Length Film category.

The festival jury cited MAG-IINA for ‘pushing the boundaries of filmmaking,’ highlighting its layered narrative that explores dark family secrets, deep-seated grief, and matriarchal dynamics while exposing broader truths about Philippine society and politics.

The film was also recognized for its exceptional technical artistry, commanding performances from its predominantly female cast, and bold, fearless, and visionary filmmaking.

Abrahan was named Best Director, while Varela-Luarca won Best Screenplay. The film also earned awards for Best Production Design, given to Katrish Aristoki, and Best Original Musical Score, awarded to David Yuchico.

During his acceptance speech, Abrahan recalled that when they first tried to submit the film last year, he worried that it might not be accepted because they were attempting to make what he described as an ‘impossible film.’

‘I’m really, really so glad. It takes a village, it takes a family to make something impossible, possible,’ he added.

Abrahan also remarked that while their film may be ‘vomit-inducing’ and ‘disgusting,’ there are still far more disturbing and repulsive things happening outside the film, calling for corrupt individuals to be jailed.

In the Short Film category, Silkscreen by Rey Anthony Villaverde won Best Film, while Gabriela Serrano of Elenita, Elena, Elaine was named Best Director.

2 Valid IDs by Ma-an L. Asuncion-Dagñalan and Abet Pagdagdagan Raz received the Special Jury Award in the Full-Length Film category and later won the Audience Choice Award in the same category.

The Special Jury Award in the Short Film category went to Para-Paraan by Mae Chan Li, while Hoy, Hoy, Ingat! by Norvin de los Santos won the Audience Choice Award for Short Film.

In the acting categories, Marietta Subong for 2 Valid IDs and Ruby Ruiz for Status: Rejected shared the Best Actress award, while Martin del Rosario won Best Actor for Tayo Lang Ang Nakakaalam.

Bituin Escalante was named Best Supporting Actress for A.ni.mál, while Lucas Andalio of MAG-IINA and KD Omalin of Hand of God shared the Best Supporting Actor award.

The Best Ensemble Performance went to Martin del Rosario, Yayo Aguila, Epi Quizon, and Miguel Ordon for Tayo Lang Ang Nakakaalam.

Other winners included Lysa Catolico and Jazmine Gin R. Pateña, who won Best Screenplay in the Short Film category for RUNO!; John Rogers, who won Best Editing for A.ni.mál; Adam Dumaguin, who won Best Cinematography for Tayo Lang Ang Nakakaalam; and Elian Idioma, who won Best Sound Design for the same film.

The NETPAC Award for Full-Length Film went to Status: Rejected by Vahn Leinard C. Pascual, while The River Flows in Different Places by Lot-Lot Hermosura received the NETPAC Award for Short Film.

THE young female star has had body odor since she was a teenager but she’s now in her 20s and she still does not smell good. Her co-workers and the staff and crew of the shows she has worked in are always talking about her. They are also wondering why her family and closest friends haven’t given her hygiene-related advice. She’s had two boyfriends and is said to be dating someone new and yet-not one of them has told her what she needed to hear. It does not seem to be bad hygiene because the young female star seems to shower every day so it must be something else.

ONCE A CHEATER

IS it true that one of the reasons why the celebrity-influencer and the handsome actor split years ago was due to the latter’s cheating? He allegedly cheated on the beautiful celebrity-influencer with an older actress, who is lovely and talented. Aside from that, their parents could not get along. The handsome actor’s dad is known for being a stage father. While the celebrity-influencer’s dad is usually quiet, he won’t stand for his daughter not being treated well.

GOODBYE

WHEN the two teenagers joined a show, they were naturally drawn to each other and they became really close. It got to a point when the girl had to tell the guy to slow down because she was not yet ready for a serious relationship. People who watched the show found the guy aggressive and rude. Eventually, they became a couple. But last month, netizens noticed that the guy’s videos and photos of and with the girl have been set on private. The rumor is that he allegedly cheated on her.

FAMILY WOES

THERE are rumors that the offspring of two showbiz personalities (they are not married) was caught shoplifting. The girl was said to have been arrested and brought to a police station, where appropriate charges were filed against her. This comes after her father’s marital troubles. The non-couple is said to be very attentive to the daughter to make up for all the time when she did not know who her real father was. She lived a happy life with her mom, the father she grew up knowing, and her siblings-that is, until all hell broke loose about her paternity.

THIS time, Alex Eala bowed to someone richer in experience.

That sums up Amanda Anisimova’s victory over Eala in Tuesday third round of the Cincinnati Open in Mason, Ohio, USA.

‘Experience prevailed over youth,’ said Admiral Louie Fernandez (ret.). ‘That simple.’

I can’t dispute that.

While it’s true that Eala gutted out a 6-4 win in the first set with an exceptional display of vicious tenacity and steely nerves, the Filipino ace just couldn’t sustain her firepower against someone bent on reaching the finish line first.

Unlike many of Eala’s previous victims who either folded up that easily or withered going into the final bend of the race, Anisimova proved to be of a different texture. She seemed like a dike built to buck the strongest surge of water from a burst dam.

Thus, while Eala was trying to ride on the momentum of her first-set win sparked by her brilliant three-game run to erase a 3-4 deficit en route to a 1-0 lead going into the second set, Anisimova fought back like a dragon disturbed from deep slumber.

Down 2-3 in the second set, Anisimova sprang back to life by stringing up three games of her own to seize control, 5-3.

The American was simply a fantastic turnaround, utterly transforming from mediocre to magical by unbelievably bucking five double faults in that winning streak.

In game six alone of the middle set, Anisimova survived three horrific double faults to level the count at 3-3.

Next, she broke a suddenly disoriented Eala at the first opportunity before holding serve for a 5-3 lead-again brushing aside two double faults.

And after Eala held serve, Anisimova routinely held her own for a 6-4 win to forge a deciding third set, where, horror of horrors, Eala would hurtle back from heaven to earth.

Eala had an auspicious start in the decider, racing to a 2-0 lead as she broke Anisimova in the second game.

After that, it was all Anisimova show.

After a break back, Anisimova, finally flashing her famous lethal backhand, tied it at 2-all, before making it 3-2 as she pounced on Eala’s two double faults.

After that, defeat was merely a matter of time for Eala, who showed clear signs of fatigue against a visibly resurgent and rejuvenated Anisimova, who iced a crucial 4-2 edge with a blistering ace-her third for the day.

She would next break again Eala-by now appearing visibly spent with shoulders sagging and feet seemingly weighed down by lead-before wrapping up the match with flourish, clinching a 6-2 win at love.

While Eala was younger at 21 against the 24-year-old Anisimova (she turns 25 on August 31), the element of stamina, surprisingly, also turned in the American’s favor.

But Anisimova, winner of four titles including two Women’s Tennis Association (WTA) 1000s and a losing finalist in 2025 Wimbledon to Iga Swiatek and in the 2025 US Open to Aryna Sabalenka, praised Eala ‘for her great talent.’

That talent will surely be unfurled again when Eala plays in the 2026 US Open from August 30 to September 13 in Flushing Meadows, New York.

With the lessons Eala learned during her super hectic schedule this season from January to the present, winning, along the way, the Mubadala DC Open in Washington with a 4-6, 6-4, 6-0 victory over world No. 3 Jessica Pegula only last August 3, expectations are again high for the Filipino sensation to perform well in the season’s fourth and last Grand Slam in the Big Apple.

I can almost see it happening.

THAT’S IT With over 20 tournaments she had played this year in Asia, the Middle East, Europe and the US, Alex Eala should be more than ready for the US Open. She has two weeks to rest/prepare for the grandest tennis event of the year.

THE Department of Agriculture (DA) is seeking ways to avert further vegetable losses as torrential downpours in Benguet damage crops and temper demand.

This, after reports of Chinese cabbage and carrots being discarded along Labey-Lacamen Road in Tublay, Benguet.

Agriculture Secretary Francisco Tiu Laurel Jr. said he directed the regional office to assess the situation, as this adds pressure on growers already beset with production risks and weak market conditions.

Upon verification, DA-Cordillera Administrative Region (CAR) Regional Executive Director Jennilyn Dawayan said the Chinese cabbage was traced to a farmer from Gambang, Bakun, who harvested 2.5 metric tons (MT) last August 13.

Despite being transported to La Trinidad, the produce remained there for two nights and two days before entering the trading center. Due to torrential rains, the cabbage developed signs of rotting and became unfit for market.

The truck was eventually pulled out, the DA said, with the cabbage unloaded in a vacant lot near Polig’s farm, where passersby and tourists could take the vegetables for free.

Meanwhile, the four metric tons of carrots harvested in Amlimay, Buguias, were brought to the trading center, where only 700 kilos were sold. The remaining produce already showed signs of rotting, prompting the farmer to dump it.

The regional office said it continues to expand market access through Kadiwa, transport assistance, and institutional buyer linkages.

This month, the DA said it has already assisted at least 46 farmer cooperatives and associations (FCAs) and facilitated the movement of 32.83 MT of vegetables through direct market channels, valued at P1.2 million.

Despite this, the latest DA monitoring report showed a spike in retail prices of highland vegetables in a span of one week.

As of August 16, rare ball cabbage retails at P99.64 per kilo, from the previous week’s P74.43 per kilo. The price of carrots also spiked to P113.73 per kilo, from P104.87 per kilo.

Prices of red and green bell pepper rose to P232.08 and P255.12 per kilo, from P213.38 and P230.94 per kilo a week ago, respectively. Broccoli also retails at P248.54 per kilo, from P230.4 per kilo.

‘The recent losses underscore the need for faster logistics, stronger market linkages, and coordinated support programs to help Benguet farmers weather both climate and market challenges,’ the DA said.

The Department of Human Settlements and Urban Development (DHSUD) Region 7 has issued Notices of Deficiencies of Requirements (NDRs) to Cebu Landmasters Inc. (CLI) for non-compliant applications for licenses to sell, citing insufficient documentary requirements and other regulatory deficiencies.

DHSUD-7 Regional Director Mark Anthony Linduangon said Tuesday that some CLI projects in Central Visayas were issued NDRs due to incomplete requirements and non-compliant applications.

He said the non-issuance of licenses was associated with various regulatory and compliance concerns, including discrepancies in building permit classifications, the conversion of Temporary Licenses to Sell (TLS) to regular licenses to sell, and pending documentary requirements.

‘Some projects were likewise issued NDRs due to incomplete submissions, non-compliance with applicable standards or the need for technical rectification and referral back to the concerned Local Government Units,’ Linduangon said in a statement.

Among the projects being developed or co-developed by CLI in Region 7 are North Grove at Pristina Town Towers 1 and 2, Alto Ranudo, Mirani Homes Bogo, and Casa Mira South Phase 4B.3.

Linduangon stressed that full compliance with the requirements remains the responsibility of CLI and is outside the control of DHSUD-7.

His statement came after CLI issued its own official statement clarifying recent reports concerning the deferment of some of its project launches during the first half of the year.

CLI said the deferred launches were primarily due to regulatory requirements that it needed to address as part of DHSUD’s efforts to strengthen the licensing and permitting process for real estate developers.

The company said it has since completed the requirements and secured the necessary approvals, allowing it to proceed with its planned second-half launches.

CLI said it is preparing to launch 11 projects comprising more than 5,600 units, with an estimated sales value of around P25 billion, in the coming months. The projects are planned across Cebu, Mactan, Ormoc, Butuan, Davao and Panglao.

‘The company used the first half of the year to complete the necessary requirements and secure the approvals needed to bring these projects to market,’ CLI said in a separate statement.

CLI President and Chief Executive Officer Jose Franco Soberano was earlier quoted in media reports as saying the company deferred the launch of at least four developments because their licenses to sell remained pending. Linduangon, however, said it would be inaccurate to attribute the delays solely to regulators, stressing that applicants must comply with existing requirements.

‘As regulators, we are mandated to strictly enforce existing laws and regulations without shortcuts to ensure compliance to standards and the integrity of each project development. We cannot approve applications with deficiencies,’ he said.

Meanwhile, CLI said it supports DHSUD’s efforts to promote responsible development and strengthen industry standards.

Soberano also said the company remains committed to working with DHSUD and other government agencies to ensure its projects are delivered responsibly to customers and communities.

International music artist and Black Eyed Peas co-founder Apl.de.ap has officially joined forces with GMA Music, the official music label of GMA Network, in a milestone distribution deal signed on August 14 at the GMA Network Center.

Under this partnership, GMA Music will manage the world distribution and release strategy for Apl.de.ap’s upcoming three-track extended play (EP). Centered on themes of national pride, Filipino identity, cultural unity, and the global Pinoy spirit, the EP serves as a powerful showcase of Original Pilipino Music (OPM).

Bannering the EP is the carrier single ‘Why,’ an explosive collaboration between Apl.de.ap and OPM rock legend Bamboo. The tracklist also features ‘Turn Around’ with J. Rey Soul and ‘Pinoy United’ with Datu Khomeini.

‘I’m incredibly excited about this collaboration with GMA Music. This will really connect me with our kababayans and the Filipino audience, not just here but around the world,’ said Apl.de.ap.

‘This partnership is just a stepping stone in highlighting OPM and upcoming Filipino artists. This is just the beginning, and I can’t wait to keep creating content and releasing music and collaborations, and acknowledging upcoming amazing, talented Filipino artists.’

The signing ceremony was attended by key executives from GMA Network, including Felipe S. Yalong (GMA Network executive vice president and chief finance officer, and EVP and COO for GMA Music), Gigi Santiago-Lara (vice president for musical, variety, specials, and alternative productions), Angel Javier-Cruz (vice president for corporate affairs and communications), Jojo Aquio (assistant vice president for corporate communications), Ruth Mariñas (assistant vice president for musical, variety, specials, and alternative productions), and Rene Salta (managing director of GMA Music).

‘Apl.de.ap is the first foreign artist signed with GMA Music. I want to make GMA Music a company that will be identified as a home for talented Filipino artists. This is just the start of more collaborations using the full resources of GMA Network,’ said Yalong. ‘On behalf of the community of GMA Network, we are so glad Apl.de.ap chose us to be his distribution partner for his digital works. Rest assured that we will do our best to ensure the success of this venture.’

Also present were members of Apl.de.ap’s team: Cathy Villarba (talent manager) and Dan Vo (business manager).

The EP is set for worldwide release on September 25, 2026, across all major digital streaming platforms.

A powerful tourism campaign is quietly unfolding across the Philippines. It is not driven by advertisements or social media influencers or catchy slogans. It is powered by roads, bridges, railways, airports, and ports. Simply put, infrastructure has become the new tourism campaign.

Across the country, major transport projects are reshaping how people travel, invest, and purchase property. From South Luzon and the Visayas to Mindanao, infrastructure investments are shortening travel times, improving accessibility, and unlocking destinations that were previously difficult to reach. These projects are not only moving people more efficiently. They are also moving capital into emerging growth areas. These key public projects are raising the viability of property and are unlocking land values.

Improving connectivity is key

In South Luzon alone, projects such as the Cavite-Laguna Expressway (CALAX), the LRT-1 Cavite Extension, the South Commuter Railway, and the Nasugbu-Bauan Expressway are strengthening connectivity between Metro Manila and key leisure destinations. The impact on property markets is already becoming evident. South Luzon is getting a lot of interest that’s why developers are mounting property briefings for investors and brokers left and right.

Historically, proximity to major highways and transport infrastructure has resulted in higher land values and stronger property demand. Buyers put a premium on convenience and accessibility especially when travel time becomes more predictable. The completion of new road networks transforms what used to be a three-hour weekend trip into a comfortable one-hour drive. This naturally made weekend homes practical investments rather than occasional luxuries. These projects are raising accessibility and, consequently, land values.

Infrastructure improvements are particularly crucial in tourism-oriented markets because accessibility is often the biggest determinant of demand. Travelers prefer destinations that are easy to reach. Investors follow the same logic. Once transport bottlenecks are addressed, tourism activity increases, business opportunities emerge, and real estate values typically appreciate.

Stoking demand for leisure properties

What makes this trend particularly compelling is that demand is no longer concentrated solely within Metro Manila. Filipinos increasingly view leisure properties as lifestyle investments. Improved infrastructure supports this shift by enabling owners to access these properties more conveniently while also increasing rental and tourism opportunities.

Property appreciation is often strongest where infrastructure expansion and tourism growth occur simultaneously. Infrastructure creates accessibility. Accessibility attracts visitors. Visitors generate economic activity. Economic activity drives real estate demand.

This virtuous cycle helps explain why developers continue to acquire land and launch projects in emerging tourism corridors across the country. This is also a reason why properties in Cavite, Laguna, and Batangas continue to record strong take up rates and accelerated capital value appreciation.

Moving forward, the Philippines’ long-term competitiveness will depend not only on its natural attractions but also on its ability to connect those attractions efficiently. Beautiful destinations may capture attention, but modern infrastructure converts interest into actual visits, investments, and economic growth.

As new highways, bridges, airports, railways, and ports come online, they will do more than reduce travel times. They will redefine investment hotspots, expand tourism catchment areas, and create opportunities in locations once considered too far from major markets.

Optimistic projection for South Luzon

In today’s property landscape, infrastructure is no longer merely a support system for growth. It is a major driver of expansion and a major impetus for developers to aggressively and proactively landbank to capture pen up demand for leisure-oriented projects.

Colliers Philippines sees tremendous potential for leisure properties in South Luzon due to improving connectivity and rising number of tourists. The region has become a preferred destination for weekenders and conferences, driving demand for accommodation facilities and resort-themed properties. Cavite, Laguna, and Batangas are among the most attractive locations among domestic travelers and we see this stoking demand for properties and eventually raising prices which should primarily benefit property investors diversifying and expanding outside of Metro Manila.

As roads shorten distances, they also shorten the gap between opportunity and investment. We strongly believe that in South Luzon, infrastructure is not merely connecting destinations. It is connecting investors to the next wave of property growth corridors.

Members of the House prosecution panel said the testimony of former Office of the Vice President (OVP) special disbursing officer (SDO) Gina Acosta in the Senate impeachment trial revealed the direct accountability of Vice President Sara Duterte in the ‘ghost process,’ which allegedly resulted in the mishandling of P125 million confidential funds.

House prosecutor Manila Rep. Joel Chua said the Acosta confirmed that Duterte ordered her to hand off the cash to then-Vice Presidential Security and Protection Group chief Col. Raymund Dante Lachica.

This even if Acosta did not have any authority to disburse the said fund.

‘It turned out yesterday [Tuesday] that Ms. Gina Acosta’s role was merely ministerial-essentially just a signatory-because she did not understand the plan and simply handled withdrawals,’ Chua said in Filipino in a statement.

The House prosecution also questioned the multiple roles of Lachica in the disbursement of the fund, which House trial spokesperson Lanao del Sur Rep. Zia Alonto Adiong described as a ‘ghost process’ because of issues in its ‘chain of control.’

The lawmaker flagged Lachica for not only providing inputs for the planned activities, but also handled the funds and supplied documents concerning their use.

The said issues, the House prosecution team, said has made it difficult for state auditors to determine how the fund was spent.

However, it noted that they must still present more pieces of evidence to convict Duterte under Article 1 of the impeachment complaint against her.

Under the said Article, Duterte was accused of misusing P612.5 million in confidential funds.

Of the said amount, P500 million was released to the OVP from December 2022 to September 2023 and P112.5 million released to the Department of Education while Duterte was education secretary in 2023.

THE tourism sector is getting less support from the Marcos Jr. administration as proposed in its P7.2-trillion National Expenditure Program (NEP) next year.

Documents prepared by the Department of Budget and Management (DBM) website indicated that under the NEP 2027, the administration’s planned investment in tourism is some P7 billion, or just 0.10 percent of the spending on economic services at P1.83 trillion.

This share decreased from P7.74 billion (0.12 percent of P2.06 trillion) in 2025, then P7.8 billion (0.12 percent of P1.56 trillion) in 2026, under the cash-based expenditure program.

The proposed P7-billion spend on tourism next year-the lowest among economic services sectors-covers the Department of Tourism (DOT) and its attached agencies (P4.03 billion); and budgetary support to government corporations (P2.72 billion), under which the Culture Center of the Philippines and Development Academy of the Philippines are lumped, together with the Tourism Infrastructure and Enterprise Zone Authority, Tourism Promotions Board, and Duty Free Philippines Corp.

It also includes P250.87 million in special purpose funds, such as contingent funds maintained by the DBM to cover immediate funding requirements for new or urgent activities, and a miscellaneous personnel benefits fund. The latter covers funding shortages for salaries and bonuses of state employees.

‘Snubbed’ at Sona

It will be recalled that in his State of the Nation Address (Sona) this year, President Ferdinand R. Marcos Jr. failed to cite any progress or plan for the tourism sector, which distressed a number of tourism stakeholders.

Despite the apparent snub, Acting Tourism Secretary Ma. Bernadita Angara-Mathay sought to ease the industry concerns, underscoring that the President had emphasized ‘infrastructure and physical linkages’ in his Sona. ‘This is why the Department has been emphasizing the need for stronger flight connectivity, more routes, better regional gateways, and more competitive travel costs,’ she said.

Meanwhile, the DOT’s proposed budget next year is P4.02 billion, slightly lower than its P4.16-billion total allocation under the General Appropriations Act of 2026. Of next year’s proposal, the biggest share will go to the DOT-Office of the Secretary at P3.53 billion, down from its P3.64 billion appropriation this year.

The rest of the funds will go to attached agencies: Intramuros Administration at P158.43 million (from P161.34 million in 2026); National Parks Development Committee at P286.03 million (from P316.81 million); and the Philippine Commission on Sports Scuba Diving at P47.72 million (from P43.29 million).

Cited for underspending

The DBM, which coordinates and organizes the budget proposals of government agencies and other state-owned institutions, finalizes the annual NEP for consideration by both houses of Congress.

DBM computes for an agency’s final proposed budget for the following year, taking into account the use of its currently appropriated funds.

The DOT has had a perennial problem with the poor utilization of its appropriated funds leading to citations from the DBM, as well as mentions from the Commission on Audit’s agency reports.

‘Out of the total allotments received by DOT amounting to P3.27 billion in CY 2024, the amount of P2.82 billion, or 86.31 percent, was obligated, leaving an unobligated balance of P448.08 million, or 13.69 percent, while P2.17 billion, or 76.78 percent of the total obligations was disbursed, leaving an undisbursed balance of P655.78 million or 23.22 percent at year-end, thus, utilization of authorized budget was not fully maximized,’ said COA in its latest audit report of DOT’s funds.

Former Tourism Secretary Christina Garcia Frasco had often blamed the agency’s low budget allocation for its inability to attract more foreign tourists, which reached 5.87 million last year, 1.34 percent less than in 2024. Still, at US$59 million, the Philippines has the lowest spend on tourism promotions in Southeast Asia. Other countries’ spend were: Indonesia at $645 million; followed by Malaysia, $358 million; Singapore, $376 million; and Thailand, $111 million.