Category: Business Mirror

There’s a meaningful Tagalog saying: ‘Ang paalala ay gamot sa taong nakalimot,’ which translates to ‘a good reminder is the remedy for those who have forgotten.’

Today’s FPI Summit, attended by our newly elected officers, offers a valuable opportunity to reflect on the Federation’s 35-year history. I would like to take this opportunity to reflect on the founding of the Federation of Philippine Industries three and a half decades ago, and to share some recollections from that period.

In 1991, the late President Corazon Aquino issued Executive Order No. 470, which lowered tariffs across the board while Congress was not in session. Several manufacturers impacted by this order, including members of the PCCI, united to contest the EO. We argued that the President could only make selective adjustments to tariff rates. Fortunately, because of our significant opposition to the EO, President Cory decided to withdraw the EO and submit it to Congress for further discussion.

Building on this success and recognizing the inherent conflicts between importers and manufacturers within the PCCI, we established a small group of manufacturers. We began meeting regularly at the Prince of Wales restaurant in Makati to plan our next steps.

This resulted in the establishment of the Federation of Philippine Industries. Herminigildo Zayco, a former governor of the BOI, was elected as the founding president, and I was voted as the vice president.

FPI’s incorporators include Zayco (representing TMAP), Arranza (CORA), Francisco Mongue (PULPAPEL), Rogelio Guadana (PABMA), Feliz Maramba Jr. (PAFMIL), Jeremias Menico (PCOPA), Maria Clara Lobregat (PCPF), Ernesto Cayetano (PEWMA), David Bonney (PAPM), Linda Chai (PSPA), Donald Dee (CGEPI), Greg Saguinsin (CONFED), Manuel Serrano (PAHRI), Hector Quesada (PPOGA), and Rustico Ignacio (FPFI).

During our battle against the Cory EO, certain members and officers of PCCI were unable to take a clear position due to the diverse composition of its members, which includes both importers and manufacturers. This is evidenced by documents showing their signatures under the FPI umbrella. This is the rationale why the FPI membership is composed of manufacturers only. But non-manufacturers can join as associate members.

One of FPI’s main priorities is to combat and eliminate smuggling, and I was appointed as the leader of our anti-smuggling committee. Our campaign instilled fear in smugglers, particularly after government officials and private sector leaders began to support and promote our efforts.

Today, FPI is regarded as a straightforward organization because we practice what we preach. We take the concerns of individual companies seriously and actively engage with policymakers and government agencies to advocate for legislative and governance reforms that benefit domestic manufacturers. This includes efforts to reduce red tape and combat corruption.

Putting modesty aside, one notable instance was the petition I submitted challenging a section of the late President Fidel V. Ramos’ executive order regarding the $200 limit for spending at duty-free shops, which means any Tom, Dick or Harry who is18 years old and above can spend such amount at duty-free shops. I won that battle in the Supreme Court, which ruled that allowing anyone to spend this amount tax-free at duty-free shops was unconstitutional. My argument was clear: only Congress has the authority to grant or revoke tax benefits.

During the tenure of former President Gloria Macapagal Arroyo, I considered it as a significant honor when she acknowledged and praised my decades-long efforts in anti-smuggling campaigns in front of business leaders and cabinet officials.

We will not waver. For decades, we at FPI have been actively fighting against smuggling and illicit trade because of their harmful effects on our nation. I call it the ‘triple whammy’: smuggling robs the government of essential revenue, harms local businesses, resulting in downsizing and closures, and can devastate entire industries. Moreover, it disrupts jobs, pushing more Filipinos into poverty.

In my columns for BusinessMirror, I have long emphasized that smuggling severely harms Philippine industries. For example, the tire industry has dwindled from six manufacturers to just one because of smuggling. The textile sector, which once had 1.5 million spindles, now has only 100,000. Each spindle supports 35 jobs around the clock, highlighting the significant number of Filipinos who have lost their livelihoods in this industry alone.

Another major concern in the country is the proliferation of substandard products. Over my 83 years, I have devoted much of my life to fighting against smuggling and various forms of illegal trade, particularly the smuggling of low-quality steel and other construction materials. These inferior materials threaten the structural integrity of our buildings, endangering the lives of Filipinos.

We have witnessed the devastation caused by powerful earthquakes in Russia, Turkey, Thailand, and other nations. The recent earthquake in Cebu serves as a stark reminder of the necessity to reevaluate our quality standards, especially regarding construction materials. According to NDRRMC data, the earthquake impacted 366,360 individuals (80,595 families) and damaged 5,013 homes, with 658 completely destroyed and 4,355 partially affected. Additionally, over 335 public and private infrastructure units suffered varying degrees of damage, including schools, government buildings, churches, markets, and health centers.

We urgently need to implement strict quality standards to protect investments and lives. In our efforts to advocate for this, we appeal to the government to recognize us as partners who can collaborate with agencies to monitor compliance with quality standards. By fostering a culture of mutual respect, we believe the government and private sector can work together with a sense of urgency to address this critical issue.

That’s why I recommend including private sector representatives in these agencies, particularly for the implementation of product standards. Many qualified experts in the private sector can help concerned agencies fulfill their duties more effectively and transparently.

As the Philippines confronts the most severe corruption in its history, it’s imperative that we take decisive action to root out malfeasance. A thorough investigation into all government agencies is necessary to identify and address every source of corruption.

It’s important to note that the private sector is also implicated in the alleged corruption and irregularities surrounding ghost flood control projects. I believe now is the best time to strengthen private sector collaboration with government and civil society groups to advocate for stronger anti-corruption laws and policies, and to support initiatives aimed at increasing accountability.

I want to take this opportunity to express my strong confidence in the new FPI officers. I believe in their ability to lead the Federation of Philippine Industries and support our manufacturers, as well as the broader Philippine industry sector. They are our hope for reviving and strengthening a vital engine of the country’s economic growth.

President Donald Trump’s recent social media post calling for mortgage giants Fannie Mae and Freddie Mac to boost homebuilding is sowing confusion in an industry already grappling with a stalled market and higher construction costs.

Trump asked the two government-controlled firms, which together back more than half the residential mortgage market, to ‘get big homebuilders going’ in a Truth Social post on Sunday, but did not elaborate on what he had in mind. Federal Housing Finance Agency Director Bill Pulte, Fannie and Freddie’s regulator and conservator, shared the post on X and vowed that he was ‘on it.’

The entreaty shows how keen the White House is to demonstrate it is doing something about the housing affordability crunch and marked a rare shot across the bow at big homebuilders-an industry the former real estate magnate president calls his ‘friends.’

Yet the mechanics of how Fannie and Freddie would goose homebuilding are murky.

‘It’s a little bit of a mystery,’ said Bose George, an analyst at Keefe, Bruyette and Woods, adding, ‘It’s not clear what they can do incrementally on affordability that’s not already being provided’ by the Federal Housing Administration, which insures mortgages for low- to moderate-income borrowers.

‘It seems like if the goal is to get the builders to be more active, the FHA has products there from an affordability standpoint that could be used,’ George added. Builders can obtain an FHA-insured construction loan, for example.

A White House spokesperson declined to elaborate on what the administration is planning.

‘President Trump received a resounding mandate to address America’s housing affordability crisis, and the administration is committed to delivering with deregulation and by taming Joe Biden’s inflation crisis to pave the way for interest rate cuts,’ White House spokesperson Kush Desai said.

Asked for more detail on the agency’s plans, an FHFA spokesperson said, ‘Fannie and Freddie provide enormous liquidity to the big builders. Big builders need to get building again.’

‘Empty lots’

Trump in his social media post accused the nation’s ‘big homebuilders’ of ‘sitting on 2 million empty lots’ and inflating the price of housing.

Most of the lots owned or optioned by the largest homebuilders are on raw land-sometimes lacking sewers or water access, for instance-and not buildable today, according to industry experts. Many of them still need to go through various permitting and approval processes before they’re considered shovel-ready.

‘We don’t know the status of those lots, No. 1, but No. 2, what I would ask the president is-the large builders, they’re going to do their own thing-but what are the policies we can put in place to help the other thousands of builders out there who contribute 50 percent of the housing in the country and don’t have access to Wall Street capital?’ said Jim Tobin, president and chief executive of the National Association of Home Builders, which represents homebuilders of all sizes.

NAHB has long advocated for the government-sponsored enterprises to backstop construction loans, which would boost liquidity in the market. Builders reported tighter credit conditions for the 14th consecutive quarter in the most recent NAHB survey on financing.

While it’s not clear whether the administration’s push will include that step, doing so could have ripple effects that could complicate another initiative: The push to take Fannie and Freddie public.

‘The more policymakers come to see the GSEs as an important toolbox to help them address policy challenges, the harder it will be for them to simply hand that toolbox back to private shareholders,’ said Jim Parrott, nonresident fellow at the Urban Institute and former housing adviser to President Barack Obama.

What’s more, analysts say that backing construction loans would complicate how investors value the companies.

‘On the construction loans side, it would increase credit risk because it’s a higher-risk loan,’ George said.

After Trump’s social media missive, Pulte said Monday on X that ‘we are meeting individually with each of the home builders.’ He announced the next day that Tri Pointe Homes vice president Brandon Hamara, who Pulte appointed to Freddie’s board in March, would be ‘joining Fannie Mae full-time, and as a board member, to further effectuate homebuilding in our great country.’

Higher costs

AT the same time, builders are grappling with fresh uncertainties stemming from Trump’s policies.

While the president pushes for cheaper housing and more building, his flagship international economic policy-tariffs-has raised the cost of the raw materials needed to build those new homes.

The administration is imposing new or higher tariffs on lumber, steel, kitchen cabinets and gypsum, the main ingredient in drywall. Together, the tariffs will add some $30 billion to the costs of investment in residential structures, according to a new analysis by the Brookings Institution.

The White House’s immigration policies, meanwhile, threaten to exacerbate an existing labor shortage in the immigrant-heavy construction sector, further increasing costs.

Those moves come amid a historic supply shortage caused by years of underbuilding in the wake of the subprime crisis. The crunch has pushed up home prices, driving higher inflation and helping to sour voters on the state of the US economy.

The combination of high home prices and high mortgage rates has kept both buyers and sellers on the sidelines, stalling sales and leading builders to take a more cautious approach.

‘There’s no question that encouraging more homebuilding is a foundation of any solution,’ said David Dworkin, president and chief executive of the National Housing Conference. ‘How we do it is the hard part.’

THE Department of Budget and Management (DBM) and the House Committee on Appropriations have agreed to remove ?35 billion worth of infrastructure projects from the 2026 unprogrammed appropriations to ensure transparency and prevent the misuse of lump-sum funds, according to House Committee on Appropriations Chairperson Rep. Mikaela Suansing.

‘So everyone was asking what we were going to do about the unprogrammed appropriations. The main point of contention was the release of infrastructure projects from these funds,’ Suansing said at the meeting of House Budget Amendments Review Subcommittee (BARC).

The formal removal of the ?35-billion infrastructure fund from the unprogrammed appropriations is expected to be approved on Friday during the period of amendments in the plenary.

She explained that the DBM concurred in the House panel’s proposal to exclude infrastructure projects from the Strengthening Assistance for Government Infrastructure and Social Programs (SAGIP) as a safeguard against potential misuse.

‘In the past, funds from SAGIP came to fund infrastructure projects, some of which were flood control projects. For 2026 and the coming years, there is no such thing anymore,’ Suansing said. ‘It means that infrastructure projects from SAGIP will no longer be funded.’

Under the 2026 National Expenditure Program (NEP), SAGIP was initially allotted ?80.86 billion. With the removal of infrastructure projects, the amount will be reduced to ?45 billion, focusing solely on social programs.

‘We removed ?35 billion under SAGIP,’ Suansing said. ‘This is the suggestion of the DBM and the Committee on Appropriations-to remove infrastructure from the strengthening assistance for government infrastructure and social programs.’

She clarified that unprogrammed appropriations are divided into two categories: SAGIP and support to foreign-assisted projects (FAPs). While infrastructure funding under SAGIP will be removed, projects under FAPs will remain to honor the Philippines’ commitments to foreign and multilateral partners such as the World Bank, Asian Development Bank (ADB), and Japan International Cooperation Agency (JICA).

‘The position of the DBM and the Committee on Appropriations is we would really have to retain the infrastructure projects under unprogrammed appropriations support to foreign-assisted projects, because we cannot renege on our commitments to our multilateral and bilateral partners,’ Suansing emphasized.

She added that members of the minority bloc welcomed the move, noting that it addressed their longstanding concern over the release of infrastructure projects under unprogrammed appropriations.

‘We have also relayed this to our colleagues in the minority and they are very happy with this special provision because that is what they have been raising again and again during the plenary deliberations-how to safeguard against the release of infrastructure projects from unprogrammed appropriations,’ she said.

To ensure balance, Suansing said the DBM requested an additional provision to cover the government’s counterpart funding for foreign-assisted projects.

‘If we are to remove infrastructure from SAGIP, it may be prudent to include an additional purpose for the government’s counterpart in foreign-assisted projects to cover the ?35 billion previously charged against SAGIP,’ she said.

Suansing said the removal of the ?35-billion infrastructure fund under SAGIP strengthens fiscal safeguards and ensures that unprogrammed appropriations are used strictly for social and development programs.

I study the Philippine economy and find myself split between cautious optimism and a tear in my eye when I survey the economic trajectory. Part of me nods at the progress, the other part shakes its head at the same old barriers. The government has worked overtime to lure investment and sell a story of resilience. But whether that story survives 2025 is a different question.

The ‘2025 Philippines Investment Climate Statement’ published in September 2025 by the US Department of State offers some insight into foreign thinking and evaluation. Note that any and all government assessments are biased for its own self-interest. But we need to know what they are thinking.

Let us start with the positives. The Philippines’ macro fundamentals are solid enough that ‘While potential challenges from global economic headwinds could impact the economy in 2025, sovereign credit ratings remain at investment grade, supported by the country’s sound macroeconomic fundamentals.’

In 2024, real GDP growth clocked in at 5.6 percent. That came short of the administration’s 6.0-6.5 percent target, but that outcome is not embarrassing. ‘High inflation and interest rates, extreme weather events, and weak global demand for Philippine exports weighed on economic growth,’ says the Department of State.

However, Foreign Direct Investment (FDI) stagnated as usual: net inflows in 2024 stood at about $9 billion, virtually unchanged from the prior year. That suggests the underlying incentives are not powerful enough-or the external environment not friendly enough-to drive a money surge. A fancy red carpet at the airport will not help if investors see potholes on the highway to the hotel.

In November 2024 the government passed the marquee CREATE MORE Act, extending tax incentives up to 27 years, adding deductions, clarifying VAT zero-rating rules, and aiming to streamline local tax regimes.

These moves improve predictability and look attractive on paper. But no incentive can disguise the same old obstacles: crumbling infrastructure, expensive power, clogged logistics, muddy regulation, and courts that crawl. ‘Foreign investors describe the inefficiency and uncertainty of the judicial system as a significant barrier to investment’. Without competent regulators, real checks on corruption, and permits that do not take a lifetime, laws alone are lipstick on the pig.

The Marcos administration’s infrastructure drive could help if corruption does not chew it to pieces. But credibility comes from results, not photo ops. Right now, building a major project still means chasing 157 signatures from barangay to Cabinet-plus handing out enough Christmas fruit baskets to stock a supermarket.’Business registration in the Philippines is cumbersome due to multiple agencies involved in the process. The government has taken steps to address these issues, but the business registration and permitting processes remain an irritant to investors.’

And even if you survive that gauntlet, a bigger wall looms: family-owned conglomerates that dominate industries and guard their turf with capital, distribution channels, and political ties. Toss in regulatory flip-flops and local meddling, and the message to outsiders is clear- welcome, but do not expect to play on equal terms.

From a 2025 perspective, the Philippines must calculate against several threats. First, global growth is softening, particularly in advanced economies. Demand for electronics, BPO services, and export goods may weaken. Second, monetary policy in the US and elsewhere may remain confused, pressuring capital flows into other emerging markets. Third, climate risk is not a footnote-it is a central economic risk. Typhoons, floodings, and storms are real drag factors on infrastructure, agriculture, and investor confidence.

Still, the Philippines has latent strength. Remittances and the BPO sector will remain cushions no matter all the gloom-and-doom talk.

The Philippines therefore faces a paradox: the scaffolding of growth is sturdier than a decade ago, but the winds against it are stronger. Global softness, climate disruption, and fragile governance systems pose real threats. The country is not in crisis, but it is walking a tightrope where balance depends less on external goodwill and more on domestic execution.

The bottom line is straightforward: the Philippines is neither a disaster nor a miracle. The domestic market is large, the demographics are favorable, and the services sector continues to expand. Yet the same decades old obstacles persist.

Investors should pay attention, but with both eyes open. The opportunities are real, but so are the traps. The winners will be those who engage selectively, measure risks precisely, and rely on analysis rather than on any government narratives.

E-mail me at mangun@gmail.com. Follow me on Twitter @mangunonmarkets. PSE stock-market information and technical analysis provided by AAA Southeast Equities Inc.

The flood control scandal has become the hottest topic today in the country because it has affected a lot of Filipinos regardless of social status.

Whether it’s real, imagined, real, incomplete or ghost projects, the flood control projects have become familiar to a lot of Filipinos, according to Guillermo Luz, chairperson of Liveable Cities Philippines and chief resilience officer of the Philippine Disaster Resilience Foundation.

He adds it’s exhausting the people’s patience. ‘And what is most alarming is that many of the hardest hit structures were in areas supposedly protected by flood control projects themselves,’ says Luz during the recent Liveable Cities Lab on Rethinking Flood Resilience through Sustainable Urban Planning forum.

A smorgasbord plan

In his talk organized by the Liveable Cities Lab on Rethinking Flood Resilience through Sustainable Urban Planning, prominent urban planner Dr. Nathaniel von Einsiedel, the principal planner of CONCEP Inc. laments that the country is adopting an agglomerate approach in the flood management plan. ‘We don’t have a National Integrated Flood Management policy master plan. What we have is a hodgepodge of water-related policies and plants and offices, says Einsiedel, who also served as the first Commissioner for Planning of the Metro Manila Commission.

‘And what is interesting, and this is something that’s at the bottom of the list is the river basin control office under the Department of Environment and Natural Resources. There are 18 River Basin Development Councils in the Philippines, but for some reason, they never convene,’ adds Einsiedel.

Einsiedel describes the current scenario as very fragmented, inadequate and lacking in interjurisdictional collaboration. Right now, the government’s approach is to build gray infrastructure such as the reservoir levees, flood walls, flood gates, sea walls, etc. Nevertheless, these infrastructure are very expensive, but as we all have been a source of illegal wealth for some people.

Besides, these major infrastructure projects disturb the land and disrupt the natural flow of water. ‘When you change the route of a river, you hasten the flow, and once the speed of water accelerates, it erodes the sides of it,’ he points out.

Moreover, Einsiedel says infrastructure requires regular maintenance, and the Philippine government is not very well known for effective maintenance. He also warns that it creates a false sense of security among the people. ‘We need to rethink the existing approach to flood management and to shift from the traditional two things that are at the forefront of mitigating flood hazards-floodplains and stormwater management.

He adds that the people also need to understand that flooding is a natural curse. Flood damage occurs only when human beings interfere with the natural flooding process by one altering the water course, for example, developing areas in the upstream of the watershed, and cutting down forests in the mountains.

As far as subdivisions are concerned, the problem is that the drainage plants of subdivisions are limited only to the boundary of their subdivision. ‘They don’t bother to collect where the outfalls are, which is a local government unit (LGU) responsibility. Now another problem is the alteration of the water course, because this should not be allowed,’ says Einsiedel.

In fact, when property owners buy a lot and it’s supposed to be depressed,, the traditional approach is the tambak method. It’s just actually just transferring the flood water to the area outside the property.

If there’s an existing flood management policy, that practice should not be allowed. In case it can be allowed, the developers have to get the permit. They also have to show that it will not alter the natural flow of water.

Stormwater management

Unlike rural areas that have a lot of previous open space that can absorb rainwater, urban areas have a lot of roads which cannot absorb rainwater. The rainwater is conducted through culverts, and they’re conducted to the lowest areas, and they cause flash floods.

‘Most of our towns and cities have conventional drainage systems that are limited mainly to the population areas, and many of them, or most of them, actually have not considered the additional volume of water caused by climate change,’ says Einsiedel.

Although there is a template that they follow based on the Department of Human Settlements and Urban Development guidelines, Einsiedel says they don’t really translate this into storm water management systems, and mostly they rely on the Department of Public Works and Highways (DPWH) to do the flood control plans for the jurisdictions.

‘If we are to solve the problem of flooding, we need to understand that this is a natural occurrence, and that we need to study the location, the specific conditions of the place where we need to come up with the floodplain management system and the stormwater management system,’ Einsiedel points out.

What distinguishes today’s society is its continually-shifting landscapes. Never in humanity’s history has there been a generation where trends, mindsets and ways of doing things change every so often. In fact, social media and the use of artificial intelligence further enhanced these shifts. And since change is inevitable, sales leaders must be equipped and ready to step outside their comfort zones any time, every time.

Here are three things every sales leaders must keep in mind in traversing the volatile, uncertain, complex and ambiguous business and work landscapes.

Know that excuses are for losers

Heraclitus, the Ancient Greek philosopher, famously remarked that ‘the only thing constant is change.’ It was true then, and it’s even more rampant now. Hence, sales leaders must be prepared for it. The worse that can happen is to sit and simply wait for change to come. Remember this-as sales leaders, we are not mere spectators, but movers and shakers of economy. We don’t wait for change to happen, we prepare and plan for it in order to gain victory. Winners never dwell on excuses, and that’s why we never play the blame game.

Embrace change

The ability to embrace change is a mark of every successful sales leader. Therefore, the capacity to constantly step outside one’s comfort zone is an essential ingredient for sales leaders. Develop the habit of planning ahead by thinking outside-the-box and adopting a break-the-ceiling mindset. Learn from Kodak and Nokia who used to dominate the film and cellphone markets, respectively. Leaders from these companies failed to embrace change which eventually led to the downfall of these organizations. They already knew that change was in the near horizon, but they refused to accept its reality. So what do we need to do? Embrace change.

Lead change

They say that offense is the best defense. The same is true in dealing with change. Instead of simply planning for adaptation measures, lead change by crafting new directions. Sales leaders disrupt markets by introducing change. Go ahead and be proactive and innovate, and change the rules of the game. Instead of just going with the bandwagon, become the trailblazer. When asked why I wrote the book ‘The Effective Seller,’ my response was a quote from Toni Morrison-‘If there’s a book you want to read, but it hasn’t been written yet, then you must write it.’ This encapsulates my point: lead the change.

Alexey Rola Cajilig is the Founder, President and CEO of ARCWAY Consultancy Inc., and Senior Vice President and COO of EM-CORE DOTNET Inc. He is a Sales Leadership Coach, Strategic Sales Operations Consultant, Christian Motivational Speaker, Human Ecologist and Author of Life is a Classroom, The Effective Seller, Solving the Sales Puzzle and Practical Market Intelligence. He is also the creator of ARCH Styles, a behavioral and personality assessment and discovery tool. If you have questions and suggestions, you may connect with him at https://www.facebook.com/coachlexey and at https://www.linkedin.com/in/alexey-rola-cajilig.

Philippine Manufacturing Co. of Murata Inc., a subsidiary of Murata Manufacturing Co., Ltd., said it will produce more electronic components for smartphones and cars in its new building which will start operations this month.

‘Actually, we will inaugurate the building on October 22. That’s our fourth building. So, the size of the building is 100 by 300 meters. It has two floors,’ Janet Inocencio, deputy general manager of Philippine Manufacturing told the BusinessMirror on the sidelines of the press briefing organized by the Semiconductor and Electronics Industries in the Philippines Foundation Inc. (Seipi) last week. Once operational, Inocencio said the electronics maker is hoping to double the current number of its employees.

‘So, the current headcount at Murata is 4,300. And once the last building starts operations, the target would be around 8,000 to 10,000 people.’ Inocencio said this new building will manufacture more Multi-Layer Ceramic Capacitor (MLCC), the electronic components used in modern devices.

‘Our product is 100 percent for export. The application of our MLCC is for automotive and smartphones.’

This is the fourth building of Murata in the First Philippine Industrial Park (FPIP) in Tanauan, Batangas.

Inocencio said the Kyoto-based electronics manufacturer poured P4.4 billion into the construction of the new building.

As for the exports outlook of the company for this year, Inocencio said she expects to see gains because of its recent expansion.

‘Although we felt there was a tightening of the belt, but still, we’re good. The future of electronics and semiconductor industry here in the Philippines is still positive,’ the Murata official told this newspaper.

She said Murata accounts for 40 percent of the global market of MLCC. During the recent press briefing for Philippine Semiconductor and Electronic Convention and Exhibition 2025 (PSECE), SEIPI President Danilo C. Lachica said the ‘default growth drivers’ for the electronics industry would be new devices.

‘Year-on-year, whether it’s now or five years from now, the growth drivers for the electronics industry would be new devices, new technology. And it’s in different sectors, whether they are in automobiles, devices, cellphones, obviously, computers.’

According to the website of Murata, the firm operates both a sales branch and a large production site in the Philippines.

The Kyoto-based electronics maker said its facility in the Philippines is Murata’s ‘largest production site’ in Asia. Operations started in early 2013 with the production of Multilayer Ceramic Capacitors.

Electronics exports accounted for 53 percent of the country’s $55.7-billion export revenues in January to August, according to official government data.

Generics Awareness Month took center stage at the Mercury Drug Q-Plaza Branch in Cainta recently, where RHEA Generics, in support of the Department of Health (DOH) and in partnership with Mercury Drug, gathered healthcare leaders, advocates, and community members for a day dedicated to a timely cause.

Carrying the theme ‘Ginhawang Generics, Ramdam ng Bawat Pilipino,’ the program placed the spotlight on the role of generic medicines in everyday healthcare, stressing their affordability, tested effectiveness, and steady availability in the market. It also aimed to correct long-standing misconceptions, reminding patients that generics undergo the same rigorous standards as branded medicines and can provide the same relief and treatment outcomes.

The Department of Health expressed its full support for the event through a special video message. In the video, the DOH reaffirmed its decades-long advocacy of promoting access to affordable and quality medicines through the Generics Act of 1988 and the Cheaper Medicines Act of 2008. The agency also issued a clear call to action for Filipino patients to proactively ask their doctors and pharmacists about generic equivalents, stressing that informed choices empower communities and strengthen public health.

Sharing the industry perspective, Ms. Giezel Jane Sarmiento, Marketing Head of the Pharmaceutical Business Unit of PHILUSA Corporation, emphasized RHEA Generics’ commitment to the advocacy. ‘We are helping redefine what generics truly mean – from being seen as ‘second choice’ to becoming the world-class and trusted choice. At RHEA Generics, we believe no Filipino should ever have to choose between health and livelihood; quality healthcare should never be out of reach,’ she added, citing the brand’s continuing efforts to build patient confidence in generic medicines.

To extend the celebration beyond awareness-building, RHEA Generics and Mercury Drug offered free clinics to serve Mercury Drug Suki patients and nearby communities with consultations and basic health services, such as free temperature checks, blood pressure monitoring, and screenings for blood sugar and cholesterol levels.

RHEA Generics has been a longstanding partner of the DOH in promoting the responsible use of generics. Strengthening this advocacy, the brand continues to expand its portfolio of molecules through its growing collaborations with leading global pharmaceutical companies.

By raising awareness on generics and making medical support available to the community, the event left a practical reminder that access to quality treatment is not only a national goal but a shared responsibility.

The vivo V60 may first capture your attention with its ZEISS co-engineered cameras, but its story doesn’t end there.

With its massive 6500mAh BlueVolt Battery, ultra-fast 90W Flash Charge, powerful Snapdragon 7 Gen 4 processor, and durable yet elegant build, the vivo V60 is more than just a camera powerhouse. It’s a device designed not just to perform, but to endure.

Built for power that lasts

The vivo V60’s 6500mAh BlueVolt Battery gives you the confidence to take on anything, anytime. It can navigate maps for 9 hours, play PUBG for 10 hours, or stream YouTube for up to 22 hours – all on a single charge.

When time is short, its 90W Flash Charge powers up your phone to 25% in just 20 minutes. For gamers, bypass charging keeps the device cool and stable during intense MOBA sessions, allowing the action to never stop.

Performance that pushes limits

Inside, the vivo V60 is powered by the Snapdragon 7 Gen 4 processor, offering a significant leap in speed and efficiency – 27% faster CPU performance, 30% improved GPU power, and 26% enhanced gaming efficiency compared to the previous generation.

This powerhouse setup delivers smoother gameplay, faster app launches, and seamless video playback, making it perfect for multitaskers, streamers, and mobile gamers who live life in motion.

Built to withstand, designed to impress

The vivo V60 combines premium aesthetics with unmatched durability. Its IP68 and IP69 dust and water resistance ensure it stands strong against splashes, rain, unexpected spills, and submersion in freshwater.

Elegant, powerful, and built for modern living, the vivo V60 is your reliable companion for every story, every connection, and every adventure that lies ahead.

The vivo V60 starts at Php 28,999 in colors Berry Purple, Summer Blue, and Mist Gray. Now available nationwide at vivo official stores, kiosks, and online through the vivo e-store, Shopee, and TikTok Shop.

Energy sales of the Manila Electric Co. (Meralco) at end-September this year stood at 40,719 gigawatt hours (GWh), down by 0.4 percent from 40,872 GWh recorded in the same period a year ago.

The company said the decline was mainly due to reduced household spending and unpredictable weather conditions.

‘Depressed residential consumption remains to be the biggest contributor to the decline, amplified by the erratic weather observed in the third quarter, with the transition of El Nino to La Nina,’ Meralco Senior Vice President and Chief Revenue Officer Ferdinand O. Geluz said.

He added that the impact on commercial sales is less pronounced, but still affected by the reeling effect of lower tourism and real estate occupancy. However, Geluz said industrial sales posted a modest increase supported by steady demand in cement and steel.

‘Notwithstanding, we continue our diligent efforts to energize customers, with an estimate to end the year at 8.2 million customers, up by 170,000 from last year. We are optimistic that these new customers will contribute to the volume rebound next year once weather and macroeconomic factors normalize.’

Meralco will release soon its financial and operating results for January to September.

Meanwhile, the utility firm is anticipating higher generation charge which could lead to an increase in electricity rates this month.

‘While we are still waiting for some billings from our suppliers to finalize the October electricity rate, indications point to a possible increase in the generation charge this month,’ said Meralco spokesperson Joe Zaldarriaga. ‘This is due to the depreciation of the peso which affects costs of our suppliers that are mostly dollar-denominated.’

‘We, however, are hopeful that these possible increases will be tempered by lower WESM [Wholesale Electricity Spot Market] prices as reported by IEMOP [Independent Electricity Market Operator of the Philippines].’

WESM’s average price declined 33.8 percent to P3.04 per kilowatt hour (kWh) in September, the lowest in the last seven months, from P4.59 per kWh the previous month.

IEMOP noted an improved supply for the billing period August 26 to September 25 at 20,712 megawatts (MW) against a lower demand which stood at 13,640 MW, resulting in an increased margin of 5,194 MW, up from 4,578 MW in August 2025.

IEMOP said these conditions were observed across the regions with supply increasing and demand decreasing. The higher margin compared to the previous billing month led to lower prices.