Category: Business Mirror

ACEN Corp. is extending a loan of P900 million to its unit to partly finance its onshore wind power project in Quezon province.

‘On October 1, 2025, ACEN executed a short-term loan agreement for P900,000,000.00 with its wholly-owned subsidiary, Giga Ace 6, Inc.,’ it said in a disclosure to the stock exchange Thursday.

Giga Ace 6 is the project company for the Quezon North Wind Power Project, formerly the Isla Wind Project, to be located in the municipalities of Mauban and Real, Quezon, and the municipalities of Paete and Kalayaan, Laguna.

ACEN did not provide further details.

Giga Ace 6 earlier secured a P34.41-billion loan to partly finance the proposed wind power project which will be done in phases. The target completion of the first phase, with an estimated capacity of 344-megawatt peak (MWp), is in late 2026. The second phase, possibly 208 megawatts, could be finished by 2028.

ACEN disclosed in October last year its investment into the Quezon North Wind Power Project Phases 1 and 2, including supporting infrastructure and transmission/connection assets.

Last March, ACEN and units signed an omnibus loan and security agreement with Bank of the Philippines Islands, BDO Unibank, Inc., and Rizal Commercial Banking Corp. for P34.4 billion. The green term loan facility for Giga Ace 6 was guaranteed by its parent, ACEN, and ACEN Global Development Group. ACEN reported in August that its consolidated net income declined by 88 percent year-on-year to P763 million mainly due to a P2.7-billion impairment relating to the relating to the Lac Hoa and Hoa Dong wind farms in Vietnam.

Excluding this one-off booking and the P1.35-billion valuation gain in 2024, net income fell 24 percent over the same period, due to depressed Wholesale Electricity Spot Market prices and increased depreciation effects.

‘Despite these headwinds, attributable renewables output grew 9 percent year-on-year to 3,228 GWh [gigawatt hours], driven by new contributions from international plants.’

ASIAN Eye Institute (AEI) recently hosted world-renowned ophthalmologist Ike Ahmed for a research collaboration with Robert Ang, head of the Cornea and Refractive Surgery Services and chief of Asian Eye’s Research and Training Center.

Recognized as the ‘most influential ophthalmologist’ worldwide in 2024 by The Ophthalmologist magazine, Ahmed is globally known for pioneering Micro-Invasive Glaucoma Surgery (MIGS). This is a new class of safe, minimally invasive procedures designed to lower intraocular pressure and slow the progression of glaucoma.

‘Doctor Ang and I have been studying glaucoma over the years, and we have a whole movement called interventional glaucoma,’ Ahmed explains. ‘It provides earlier treatments through safe, minimally invasive intervention to address the unmet needs in glaucoma, which are the problems of progression and eye drops.’

Global leader meets local innovation

Asian Eye has long been at the forefront of glaucoma management in the Philippines. Under Ang’s leadership, the institute has conducted pioneering clinical trials to expand access to next-generation treatments. This collaboration with Ahmed strengthens AEI’s role as a regional hub for innovation in eye care research, bringing global expertise to benefit local patients.

‘I’m a believer in interventional glaucoma because I believe that glaucoma should be addressed earlier,’ said Ang. ‘Over the past 20 years, we’ve been applying eye drops. What are we waiting for-for the patients to get worse? We don’t want to do it that way anymore. More than us, it benefits the patients.’

Together, the two experts are advancing novel, non-invasive laser applications that target the eye’s natural drainage system. ‘Dr. Ang and I have been researching a very novel laser application to non-invasively treat the drainage area of the eye by applying a laser in a very safe way,’ says Dr. Ahmed. ‘Dr. Ang has been an important collaborator. I love that he brings the latest technology to Southeast Asia.’

Earlier, safer, better for patients

FOR Ahmed, the future of glaucoma care lies in acting early with safer interventions. ‘Every step of the way, we become less and less invasive because the whole point of going early is establishing high safety,’ he says. ‘Interventional glaucoma and MIGS allow us to address glaucoma earlier. We need technology and the skills-and that’s what we have in our collaboration with Asian Eye.’

Both experts stress that Filipino patients stand to benefit significantly from adopting such approaches. With many paying out-of-pocket for care, solutions that preserve vision earlier can reduce the greater economic and personal cost of blindness.

THE Philippine Deposit Insurance Corp. (PDIC) will sell real estate properties as well as transportation and power equipment through an electronic public bidding (e-bidding) toward the end of the month.

According to the PDIC, about 67 real properties, two vehicles, and a generator set would be bid out on October 29 and October 30 through the insurer’s e-bidding portal.

Proceeds from the sale of closed bank-owned properties go directly to a fund the PDIC manages for these closed banks to settle creditors’ claims, according to the government financial institution.

The properties include 34 vacant agricultural lots; 15 vacant residential lots; eight residential lots with improvements; three agricultural lots with improvements; and two commercial lots with improvements.

The two mixed residential/agricultural lots with improvements; one mixed commercial/residential lot with improvements; one mixed vacant residential/agricultural lot; and one agricultural lot. The largest property for sale is 8.2 hectares.

The real properties are located in Aklan, Apayao, Batangas, Bohol, Camarines Sur, Capiz, Cavite, Cebu, Ilocos Norte, Isabela, La Union, Laguna, Leyte, Mindoro Occidental, and Misamis Oriental.

The other properties are also located in Negros Oriental, Pangasinan, Sultan Kudarat, Tarlac, and Zamboanga del Norte. The vehicles and generator are in Barcenaga, Naujan, Oriental Mindoro.

Team North delivered solid performances despite the heavy rain and strong winds from Typhoon Paolo, winning the International Container Terminal Services Inc. North vs South Elite Junior Philippine Golf Tour Championship crown on Friday in Cabuyao, Laguna.

Needing just 10 wins on the last day, North added an extra for good measure.

In the final singles matches, North secured 11 wins and 2 halves out of 24 games, surpassing the 24.5-point mark to seal a 26½-21½ victory at The Country Club.

North led from the start, winning the Four-ball format 8-4 and edging South 6½-5½ in Foursomes.

South rallied late, winning 11 matches and narrowing the gap to 21-23 with several matches still in play.

Then came the turning point.

Vito Sarines, tied with South’s Ralph Batican, chipped in from 20 yards on the rain-soaked 18th hole for birdie, sealing a 2-up win in the boys’ 11-14 division and pushing North to 24 points.

The clincher came quietly at hole 15, where Jakob Taruc defeated Eric Jeon 4 and 3 in the boys’ 15-18 division, securing the title with North’s 25th point.

Rafa Anciano pulled off a comeback 3 and 2 win over Precious Zaragosa, and Zach Villaroman halved his match with Alexis Nailga to finalize the score.

‘The lead in Day 1 was very, very important,’ said Team North captain’s representative Joey Anciano. ‘It’s like a step inside the door already. Day 2 was to maintain or increase the lead and we also won, leaving us with 10 matches and a draw to win the cup.’

North took early control in nine of the first 15 pairings, while four matches remained tied in the 7-10 and 11-14 age groups.

South’s top juniors from Visayas and Mindanao fought back. In boys’ 11-14, four South players led early, but North’s Edoc and Sarines clawed back to halve their matches, slowing South’s momentum.

North held firm in the younger divisions, showing poise under pressure. Even after standout Patrick Tambalque withdrew due to injury while leading his match, North’s depth carried them through.

‘Every match the players did their best and that’s what’s important. That’s why we have this kind of tournament. Golf is an individual sport, but we are blessed to have this event which is also all about teamwork,’ Anciano said.

‘All our players are gifted-they’re talented, strong hitters, and strong in their individual games,’ Anciano said. ‘Actually, it can go both ways, but again we had a strategy through all three days and it worked. So we’re happy to win this one.’

In singles, Halo Pangilinan opened with a 6 and 5 win over James Rolida in boys’ 7-10. Mavis Espedido followed with a 5 and 3 win, countering South’s early point from Kvan Alburo. Ronee Dungca, Zach Guico, and Jacob Casuga added dominant wins in boys’ 11-14. Winter Serapio and twins Lisa and Mona Sarines swept their matches in the girls’ divisions.

South responded with wins from Lucas Revilleza, Denise Mendoza, Zuri Bagaloyos, Rafella Batican, Crista Miñoza, and Tashanah Balangauan. Marcus Dueñas, Jared Saban, and Mhark Fernando added late victories, leveling the singles at 8 wins each.

But North’s five-point cushion from team play proved decisive.

Tiffany Bernardino’s late collapse allowed Mikela Guillermo to halve their match, briefly delaying North’s celebration.

Standout players for North included Espedido, Dungca, Casuga, Serapio, and the Sarines twins, who swept all their matches. For South, Balangauan and Miñoza went unbeaten.

I have been watching Cinemalaya Independent Film Festival since it started in 2004, or 21 years ago, which was traditionally held annually at the Cultural Center of the Philippines (CCP) and various cinemas.

However, for the past three years CCP was not the main festival venue because of its rehabilitation. It was held in alternative venues-Philippine International Convention Center (PICC) in 2023, Ayala Mall by the Bay in 2024. It will run this year in Shangrila Edsa from October 3 to 12, 2025.

The CCP building closed its doors at the beginning of 2023 to undergo a three-year rehabilitation, including upgrades, safety improvements, and restoration efforts aimed at preserving the building’s historic and cultural significance. This rehabilitation is a critical part of CCP’s broader vision to transform the complex into a world-class cultural hub for both the arts community and the public. The rehabilitation is slated for completion in late 2026.

My passion in watching Cinemalaya films perhaps is an offshoot of my exposure to experimental films during my college years in the late ’80s and ’90s at the UP Diliman where I saw several highly sensitive and political films.

Some of the films I saw included Lino Brocka’s ‘Maynila, Sa Mga Kuko ng Liwanag’ (1975) and ‘Bayan Ko: Kapit sa Patalim’ (1985), Ishmael Bernal’s ‘Himala’ (1982), Mike de Leon’s ‘Sister Stella L.’ (1984), and Marilou Diaz-Abaya’s ‘Karnal’ (1984) and whose daring works portrayed revolt, labor unionism, social ostracism, and class division.

Although it did not win the Best film award in 2005, ‘Ang Pagdadalaga ni Maximo Oliveros’ by fellow UP alumnus Auraeus Solito became one of the icons of indie films.

The so-called ‘indie films’ embody Cinemalaya’s vision: ‘The creation of new cinematic works by Filipino filmmakers that boldly articulate and freely interpret the Filipino experience with fresh insight and artistic integrity.’

The full-length section has only one set of films from 2005 to 2009 called New Breed, with another section added from 2010 to 2014 called Director’s Showcase. It reverted back to one set as the Main Competition since 2016. Only short films competed in 2015, 2020 and 2021.

‘Layag sa Alon, Hangin, at Unos’ is this year’s theme reflecting the festival’s decades of weathering every storm of its era.

Competing in this year’s Full Length Films category are:

‘Bloom where you are planted’ by Noni Abao: Three land rights activists contend with their volatile notions of home amid terror and red-tagging in Cagayan Valley.

‘Child No. 82′ (Son of boy kana) by Tim Rone Villanueva: At a wake, a persevering high school student must prove that he is the 82nd child of the Philippines’ biggest action-fantasy movie star in the hopes of seeing his late father one last time.

‘Cinemartyrs’ by Sari Dalena: Recreating forgotten massacres from Philippine history, a young filmmaker begins shooting at a site where 1,000 men, women, and children were slaughtered. But the angry spirits are awakened and the lives of her team and the local villagers are put in peril.

‘Habang nilalamon ng hydra ang kasaysayan’ by Dustin Celestino: Four Filipinos confront the slow erasure of memory and truth in a country devoured by disinformation.

‘Open endings’ by Nigel Santos: Four queer women in their 30s who are exes-turned-best-friends navigate adulthood, love, friendship, chosen families, and everything in between.

‘Padamlágan’ (night light) by Jenn Romano: Five days before the proclamation of Martial Law, the Colgante Bridge collapsed in Naga, forcing a father into a desperate search for his missing son.

‘Paglilitis’ by Cheska Marfori: Years after experiencing sexual harassment at her workplace, a former executive assistant is persuaded by a passionate lawyer to file a case against her rich and highly respected boss.

‘Raging’ by Ryan Machado: A young man’s quest for truth and justice intertwines with a plane crash mystery, uncovering a sinister plot that propels his desire to be heard but also threatens his community.

‘Republika ng pipolipinas’ by Renei Dimla: When the local government threatens to evict her from her own land, a farmer renounces her Filipino citizenship and builds her own micronation.

‘Warla’ by Kevin Alambra Kitkat: a 19-year-old transgender woman finds the family she’s been longing for in a gang of sisters who kidnap foreign men to fund their gender-affirming surgeries, until their crimes force her to question the true cost of belonging.

Competing in the Short Films Category are ‘Ascension from the Office Cubicle’ by Hannah Silvestre; ‘Figat’ by Handiong Kapuno; ‘Hasang’ by Daniel de la Cruz; ‘I’m Best Left Inside My Head’ by Elian Idioma; ‘Kay Basta Angkarabo Yay Bagay Ibat Ha Langit’ by Marie Estela Pais; ‘Kung Tugnaw ang Kaidalman Sang Lawod’ by Seth Andrew Blanca; ‘Please Keep This Copy’ by Miguel Lorenzo Peralta; ‘Radikals’ by Arvin Belarmino; ‘The Next 24 Hours’ by Carl Joseph Papa and ‘Water Sports’ by Whammy Alcazaren.

CEBU-BASED call center workers on Thursday lodged a formal complaint before the Department of Labor and Employment (DOLE) Regional Office 7 against several business process outsourcing (BPO) companies that allegedly violated occupational safety and labor standards in the aftermath of the September 30 earthquake.

The BPO Industry Employees Network (BIEN)-Cebu said it had received ‘hundreds of complaints’ in less than two days, citing incidents where companies compelled employees to report to work despite the aftershock tremors and threatened sanctions against those who opted to prioritize their families and personal safety.

Among the allegations raised were reports that one BPO firm required agents to continue taking calls while the earthquake was ongoing, while another company was accused of blocking exits on one of its floors to prevent workers from leaving.

Employees who refused to report for work were reportedly issued notices to explain, stripped of attendance incentives, and subjected to administrative sanctions.

‘This example merely shows and emphasizes the corporate greed of BPO companies, highlighting profit over the welfare and safety of their own agent,’ BIEN-Cebu spokesperson Kyle Enero said.

‘It also shows the negligence of the government itself in regulating situations like this, when it should declare a temporary suspension to ensure the safety of the employees.’

The group also criticized the government’s decision not to declare an imminent danger situation, instead leaving it to companies to decide whether operations should continue.

BIEN-Cebu said this approach exposed thousands of employees and their families to further risks.

‘If the government can suspend classes due to the need to inspect school buildings, they should also rightfully require BPO companies and their building administrators to provide a detailed inspection and safety report to ensure that resumption of work does not threaten worker safety,’ the group said.

JUSTICE Secretary Jesus Crispin Remulla said the government has yet to come up with a contingency plan in the event that a warrant of arrest is issued by the International Criminal Court (ICC) against Senator Ronald ‘Bato’ dela Rosa and several others in relation to the crimes against humanity charges filed against them.

‘We have yet to talk about it. I don’t think they want to leave the country. We will cross the bridge when we get there,’ Remulla said.

Remulla also stressed that they have not received any information about an impending arrest warrant from the ICC.

‘There is no arrest warrant. Until we see the arrest warrant, then there is none,’ he added.

It can be recalled that former senator Antonio Trillanes IV earlier disclosed that arrest warrants against De la Rosa, Senator Christopher ‘Bong’ Go, who are known allies of former President Rodrigo Duterte, may be issued early next year.

Trillanes, who initiated the ICC complaint, made the statement after returning from The Hague where he attended along with other participants the Tenth Seminar on Cooperation from Sept 16 to 18 at the ICC.

Last March, the Philippine government handed former President Rodrigo Duterte to the ICC based on an arrest warrant issued by the ICC and implemented through the Interpol for the crime against humanity in connection with the deaths of 43 persons during his bloody anti-illegal drug war campaign.

This was despite the Philippines’ withdrawal from the ICC which took effect on March 17, 2019.

The ICC maintained that it retains jurisdiction over the said crimes which occurred while the Philippines was still a state party to the Rome Statute, which created the ICC.

The crimes covered by the arrest warrant took place between November 1, 2011 and March 16, 2019, according to the chamber.

The ICC chamber issued the arrest warrant against Duterte in connection with the killing of 19 alleged drug pushers or thieves by the Davao Death Squad (DDS) in various locations in Davao City during Duterte’s term as mayor of the province.

The arrest warrant also covers the killing of 24 persons believed to be drug pushers and thieves or drug users during the term of Duterte as President.

The Department of Labor and Employment (DOLE) has disbursed P48.1 million in emergency employment and livelihood assistance to workers in the Bicol Region following the devastation of Severe Tropical Storm Opong.

According to DOLE Region V, the bulk of the funds-P40.3 million-was allotted under the Tulong Panghanapbuhay sa Ating Disadvantaged/Displaced Workers (TUPAD) program.

The allocation covers short-term cash-for-work for 6,455 beneficiaries in 11 municipalities identified as among the hardest hit.

Another P5 million was allocated for profiling under the DOLE Integrated Livelihood Program (DILP), while P2.7 million went to the Government Internship Program (GIP).

The agency said families of the four reported casualties will also be granted livelihood packages through DILP, while affected small businesses may avail of aid under the Adjustment Measures Program (AMP)

Based on DOLE Region V’s situational report, Opong affected 183,926 families, or 693,290 individuals, across Bicol.

Masbate was the most heavily impacted, with over 8,000 families still staying in evacuation centers as of October 1.

Opong entered the Philippine Area of Responsibility on September 23 as a tropical depression and quickly strengthened into a severe tropical storm the next day.

By September 25, all provinces in Bicol were under Signal No. 2, before warnings in Sorsogon and parts of Masbate were raised to Signal No. 4 at the height of the storm on September 26.

The labor department said coordination with local governments is ongoing to ensure the full delivery of assistance and the monitoring of long-term livelihood recovery in affected areas.

‘DOLE’s rapid response underscores its strong commitment to restoring livelihoods in storm-hit communities, with the Department ready to scale up support and ensure no affected worker is left behind,’ it added.

‘Opong’ deaths

Acting Philippine National Police (PNP) chief Lt. Gen. Jose Melencio Nartatez Jr. on Wednesday called on police units to help speed up the validation of casualties related to Opong.

‘The PNP is involved in documenting recoveries on the ground and immediately relaying validated information to local disaster response councils. We coordinate with the Office of Civil Defense and the National Disaster Risk Reduction and Management Council to ensure that casualty reports are verified and cross-checked against missing persons records before they are made official,’ he said.

Nartatez said his order is in line with the directive of President Ferdinand R. Marcos and under the guidance of Department of the Secretary Juanito Victor ‘Jonvic’ Remulla to ensure accuracy in disaster response operations.

Such a move also emphasized coordination among government agencies to provide verified information to the public and to deliver timely support to affected families.

Nartatez also underscored that strict documentation processes are followed to prevent duplication and misinformation.

He also maintained that there are challenges in accessing remote and heavily impacted areas due to damaged infrastructure, as well as in the identification of remains in advanced stages of decomposition.

‘Our operations are still ongoing in the hardest-hit areas, particularly where there are still reports of missing individuals. These will continue until all measures are exhausted to assist all our kababayan,’ Nartatez said.

The police assistance, he said, also extends to continue securing evacuation centers in rebuilding communities damaged by the typhoon, especially in hardest hit areas.

Earlier, the Office of Civil Defense disclosed that 15 more fatalities were being validated in Bicol Region and Eastern Visayas.

As of September 30, the death toll was placed at 27 while 14 persons were reported missing in Bicol Region, Western Visayas, and Eastern Visayas.

THE National Food Authority (NFA) said its purchases of paddy rice soared in June on the back of a favorable harvest and its competitive buying price range.

The grains agency said it procured 807,691 50-kilo bags or 40,384 metric tons (MT) of palay in the reference month, more than double the 355,910 bags or 17,795.5 MT it bought last year.

With this, the NFA noted that it met its procurement target of 381,500 bags or 19,075 MT in June.

‘Increase in procurement compared to last month is mainly due to favorable harvest this cropping season, and the continuous implementation of the Council-approved Price Range Scheme [Pricers] for palay procurement activity,’ the NFA said.

Under the grains agency’s program, it buys clean and dry palay at P23 to P30 per kilo, while the price of fresh and wet palay ranges from P17 to P23 per kilo. Such a scheme changes weekly per province.

The NFA said it had a total expected milled rice inventory of 8.9 million bags or 445,459 MT at the end of June. It added that the grains agency’s stockpile accounts for 18.9 percent of the country’s national rice inventory.

Meanwhile, the agency said it distributed 60,252 bags or 3,012 MT of milled rice during the reference month, 13.6 percent of its target of 440,445 bags or 22,022.25 MT.

It allocated some 544 MT of rice to the Department of Social Welfare and Development (DSWD), Office of Civil Defense (OCD), legislators, and local governments for relief operations and calamity response.

About 1,314 MT of rice were distributed to government agencies and local government units’ (LGUs) rice requirement under the Executive Order 51 program, the NFA said.

Furthermore, around 1,126 MT have been distributed to LGUs under the food security emergency program, which was declared to expedite the release of rice stocks held by the NFA.

It added that some 27 MT of rice have been allotted for the auction or private institutions.

The NFA recently invited the public to participate in the tender for more than 1 million 50-kilo bags or 57,997 MT of aging rice stocks. (See: https://businessmirror.com.ph/2025/09/29/nfa-invites-bids-for-1-16-m-bags-of-aging-rice-stocks-worth-%e2%82%b11-6b/)

The agency has started issuing auction documents. The Central Office Auction Committee (COAC) will issue these documents until October 8, while documents from the Bids and Awards Committee (BAC) Secretariat will be available until October 7.

Interested bidders are required to tender a 10-percent bond of the total price offer, which will be deducted from the overall payment of the winning bidder.

This year, the NFA aims to procure as much as 880,000 MT of palay to meet its new buffer stock requirement of 15 days as stipulated under the amended Rice Tariffication Law (RTL).

Earthquake victims in some towns in northern Cebu province call for help as they battle rain, the cold weather at night and their desperate need for food while still waiting for relief goods to reach their area.

Arg De Real, a resident of Sitio Pandan, Barangay Mahawak in Medellin town, uploaded photos on Wednesday showing some of his family members and other evacuees sleeping under a blanket of transparent plastic to shield them from the rain.

De Real shared that there are currently an estimate of 400 families there who evacuated after the magnitude 6.9 earthquake struck northern Cebu on Tuesday evening, September 30, 2025.

‘Duol ra man mi og dagat sad. Ni bakwit lang mi sa bukid (We are living near the sea. That’s why we evacuated here to the hilly area),’ he told Business Mirror in an interview on Thursday.

Most of them, he shared, only brought plastic bags so they can use it to shield them from the rain while some were fortunate enough to have some tents.

Fear prevents them from going back to their houses, especially at night, as the town continues to experience aftershocks.

They called on authorities to help them as they are running out of food to eat.

‘Untag hatagan tanan peru ug kamu mang hatag unaha tawn amoa kay murag dili kaabot sa amoa [We hope that everyone gets to receive it, but if you can help us, please prioritize us as we haven’t received any help yet],’ he added.

He emphasized that they currently need food, water to drink, and tents there.

Amidst the tragedy, De Real still keeps a positive mind saying they are all ‘good’.

Different photos spread all over social media where evacuees seek help in order for relief goods and aid to reach them.

An uploader also posted a photo of kids photographed along the highway in San Remigio town raising cardboards with the words printed, ‘Walay tarong kaon’ (Have not eaten well) and ‘Help us. More food, water’.

The Cebu Provincial Government reported they have sent 7,622 food packs to Medellin town and 300 food packs to San Remigio as of 5pm on Thursday, October 2, 2025.

This is apart from the water bottles and other relief items that were also sent there.

In a video interview by local station MyTV Cebu, Mayor Edwin Salimbangon said the quake left many residents traumatized such that they opted to stay on the roadside and open fields.

Salimbangon said the town has received initial relief good,s but it could only last up to two days.

The municipality has opened its Tourist Rest Area to serve as a 24/7 drop-off site for donations.

No permit needed to bring aid

Private individuals and groups who wish to directly send their donations to affected areas don’t need to get a permit.

The Cebu Provincial Government clarified this, even as it advised the volunteers to ‘proceed with extra caution and remain vigilant’ since there are still aftershocks there.

‘Donations coursed through the Capitol will be received and recorded at the Command Center to ensure transparency, proper documentation, and accountability, and to guarantee that assistance reaches those in need.,’ the Cebu Provincial Government said in a statement.