Category: Business Mirror

THE National Bureau of Investigation (NBI) has denied the allegations made by former congressman Mike Defensor that its men beat up a former aide of resigned Ako Bicol Party List Rep. Zaldy Co and forcibly flown the latter and his pregnant wife out of the country.

In a statement, the NBI said Defensor’s allegations were ‘unfounded, unsupported by evidence, and purely speculative.’

The NBI also challenged Defensor to present evidence to back up his allegations.

In his interview over Bilyonaryo New Channel, Defensor also claimed that the NBI provided Estrada and his wife fake passports before they were flown to Chile to prevent them from testifying before the Senate in connection with the multi-billion anomalous flood control and infrastructure projects of the government.

However, the NBI countered Defensor’s claim, stressing that they never had custody of Estrada and his wife.

It added that there is no existing complaint, report, or medical record showing that Estrada or his wife suffered physical harm.

‘We categorically condemn any false, malicious, or unverified statements intended to undermine the credibility and integrity of our institution. We reaffirm our commitment to transparency, due process, and the rule of law,’ the NBI said while expressing its readiness to be investigated in connection with the issue.

The NBI said it had already talked with Defensor on the matter and the latter gave his assurance that he would submit evidence to support his claims.

‘Should the evidence so warrant, the Bureau shall proceed with the appropriate investigative actions. Absent any credible proof, these allegations remain unfounded, cannot be given weight, and may even lead to prosecution for its malicious intent to undermine the credibility and integrity of the Bureau,’ it pointed out

ICI mulls indirect contempt vs CO

Meanwhile, the Independent Commission on Infrastructure (ICI) said it is mulling to file indirect contempt charges against Co for his failure to heed its summons to appear before its investigation.

The ICI first issued a subpoena against Co last October 8, requiring him to attend its hearing scheduled on October 14 but the former solon did not show up.

It issued another subpoena for Co to appear at its November 12 hearing but it was not accepted, according to ICI Executive Director, lawyer Brian Keith Hosaka.

‘The legal team will now look into the possibility of filing any petition before the regional trial court for indirect contempt,’ Hosaka said.

Co, who previously served as chair of the appropriations committee, left the country last July to undergo medical treatment in the United States.

The former solon has been criminally and administratively charged before the Ombudsman for allegedly benefitting from the P289.5 million anomalous flood control project in Naujan, Oriental Mindoro implemented by the Department of Public Works and Highways.

Co has recently released a series of video statements accusing former House Speaker Martin Romualdez and President Ferdinand ‘Bongbong’ Marcos Jr. of receiving kickbacks from flood control projects undertaken by the Department of Public Works and Highways (DPWH) that was made possible through budget insertions

He also confirmed the statement made by his ex-aide, former Marine officer Orly Guteza, before the Senate Blue Ribbon Committee about delivering cash in kickbacks to Malacañang and residence of Romualdez in Forbes Park.

Co also claimed that Marcos received P25 billion, representing 25 percent in ‘SOP’ kickbacks from the P100 billion in insertions.

In the said video, Co showed photos of several luggage purportedly containing cash intended for Marcos and Romualdez.

Co and 17 other individuals for criminal and administrative charges in connection with the P289.5 million anomalous flood control project in Naujan, Oriental Mindoro implemented by the Department of Public Works and Highways.

Hosaka, however, downplayed the value of Co’s video statements in the ICI’s ongoing probe because it has yet to be verified and authenticated. ‘Well, definitely we cannot use it because it is not verified. Unless, we have other evidence, or submitted evidence, which are verified or really strong, that is the only time we can truly give it attention and use it in our referrals,’ Hosaka said at a press briefing on Monday.

Hosaka confirmed that former DPWH Undersecretary Roberto Bernado has applied as a state witness under the Department of Justice’s (DOJ) Witness Protection Program in connection with the flood control scandal.

Hosaka said Bernardo cited his pending application as his excuse for not attending the ICI’s hearing scheduled Monday. According to Hosaka, the former DPWH secretary sought to become a state witness based on the second supplemental affidavit that he read before the Senate Blue Ribbon Committee last November 14.

In his letter, Bernardo told the ICI that under Republic Act No. 6981 or the Witness Protection, Security and Benefit Program, he is not allowed to disclose information in connection with his application as a state witness.

‘Because of this, the ICI accepted his letter and affidavit so we can evaluate and include them in our investigation. This is the reason why our hearing did not push through this afternoon,’ Hosaka said.

DOJ mum on Bernardo’s WPP application

Meanwhile, the DOJ is mum on the statement made by Senator Sherwin Gatchalian that Bernardo has returned the kickbacks he allegedly took from funds allotted for the government’s flood control projects.

Gatchalian, in a radio interview, said restitution is part of the memorandum of agreement that Bernardo needs to sign with the DOJ in order to become a state witness.

When sought for the DOJ’s reaction on Gatchalian’s statement, its spokesman, lawyer Polo Martinez, reiterated the confidentiality of proceedings under R.A. 6981.

‘We’ll have to strictly abide by Section 7 of R.A. 6981 for this. Unless a written order has been issued by the Department of Justice, all proceedings and actions taken in the Witness Protection Program shall be kept confidential,’ Martinez said.

‘This includes the memorandum of agreement agreed upon by a covered witness and the Department, if any,’ he added.

Under the said provision, any person who violates the confidentiality of said proceedings could face imprisonment of one to six years aside from disqualification from holding a public office or employment for a period of five years.

This November marked the 2025 Andersen Global Partner Meeting. As part of Andersen Global, we joined the meeting to collaborate and exchange ideas involving the developing landscape of taxation, among others. A great deal of focus and attention was devoted to surveying and showcasing the opportunities and imminent impact of technology to the world of taxation.

Unfortunately, the Philippines, tech-savvy as we are, still has a long way to go to realize the potential of current and emerging technology. We predominantly still cling to the tried and tested, but ultimately less technologically advanced, way of doing things. It does not mean, however, that we are antagonistic towards technology. It just means that we are not getting there as fast as one would hope.

So, while we may not be there yet, Philippine taxpayers may already start pondering on how to leverage technology to make their lives better. Here are a few things that may be considered:

Data collection and encoding. Paper documents have been the go-to source of information since time immemorial. We then end up having to manually encode the information from these paper documents in order for these to be used for tax compliance purposes.

Fortunately, we now have tools to allow seamless data collection and encoding. E-invoicing software now gives taxpayers an opportunity to do away with paper documents and allow instantaneous collection of granular data from each transaction. In case paper documents are unavoidable, programs are now available that allow scanners to read written words and numbers and encode them into ones and zeros.

Having precise and detailed data on hand and in a usable format would greatly benefit taxpayers. Easily collected and accurate data decreases the risk of erroneous tax reporting and enables businesses to correctly assess the tax impact of its transactions and decisions.

Automation. Ever get tired of the myriad of tax returns that you have to file day in and day out? Ever experienced filing an inaccurate tax return and being assessed for it? Automation may hold the key to prevent all of these.

Not to be confused with artificial intelligence, automation in tax compliance makes use of technology to streamline and administer tax-related processes. Automation is applied on predefined and repetitive or recurring tax compliance work, such as periodic filing of tax returns.

By automating tax-related processes, the shortcomings of manual activity and human error are significantly reduced. Automation also promotes greater efficiency and accuracy and enables tax professionals to focus on more important and higher valued work.

Artificial Intelligence. While the benefits of automation are best felt on repetitive tax work, artificial intelligence (AI) applies to more complex tax areas like tax analysis and planning, identification of potential tax exposures, and exploration of tax solutions and efficiencies.

All these benefits are due to one crucial ability of AI: to make sense of large tax data. It may be through machine learning, generative AI, or even advanced data algorithms. However, AI is not the end-all and be-all of tax compliance. AI is still far from perfect and, at least at this point, is still considered as a tool to help tax professionals.

Technology is a tool to help us do our tasks faster and better and these tools are already here. How are we taking advantage of them?

THE slowdown in materials used in tinsmithing drove a deceleration in construction material price growth across Metro Manila in October, according to the Philippine Statistics Authority (PSA).

The PSA reported that the annual growth rate of the Construction Materials Retail Price Index (CMRPI) in the National Capital Region eased to 0.9 percent in October, down from 1 percent in September. By comparison, the index rose 1.5 percent in October 2024.

Tinsmithry products, including roofing sheets and gutters, registered a 1.4-percent annual increase in October, slipping from the 1.8-percent growth recorded in September.

Other categories also contributed to the slowdown. Masonry materials rose 1.1 percent, slower than the 1.4 percent gain a month earlier, while painting materials and compounds increased 2 percent, down from 2.2 percent in September.

Some segments, however, saw faster growth. Plumbing materials climbed 0.2 percent from 0.1 percent the previous month, and miscellaneous construction materials grew 0.6 percent, up from 0.2 percent.

Carpentry materials, which had fallen 0.1 percent in September, rebounded slightly to a 0.2-percent increase. Electrical materials held steady with a 1.8-percent annual gain.

The CMRPI tracks the retail prices of construction materials typically purchased by households and small-scale builders, serving as a key indicator of trends in the residential construction sector.

The organizers of the annual Traslacion have appealed to the public to avoid any form of disruption during next year’s Feast of the Jesus Nazarene, stressing that the celebration must remain safe and solemn.

In a press briefing on Monday, Nazareno Feast spokesperson Fr. Robert Arellano said the Church is urging the public to cooperate and follow all guidelines for the massive procession.

‘Our appeal is to keep our intentions holy. so we ask everyone to work together and follow the Church’s guidelines,’ he said.

Addressing concerns about possible groups or individuals planning to cause disorder, Arellano urged them to stay away.

‘For those who might attempt to disrupt the event, we hope you won’t, because it will not help. Our call is for everyone’s safety,’ he said.

‘We do not know who these people or groups may be, but we strongly oppose anything that could harm, endanger, or cause trouble for the devotees and for all of us.’

For next year’s celebration, organizers said the andas will undergo several modifications to help speed up the return of the image of the Jesus Nazarene from Quirino Grandstand to Quiapo Church.

The changes include four wheels instead of three, the addition of a steering mechanism similar to a vehicle (instead of the old wooden tiller), and improved lighting and ventilation to prevent moisture buildup inside the structure.

Feast Technical Adviser Alex Irasga explained that the adjustments are meant to ease movement and make the carriage more manageable for the volunteers.

‘Based on our study, these improvements will make it easier to push or pull the andas. It may also help speed up the procession,’ he said.

However, Fr. Arellano cautioned that it is still uncertain whether the Traslacion will move faster next year.

He said several external factors affect the procession’s pace-many of which are beyond the organizers’ control.

‘Even with all our preparations, there are things we cannot control, like the sheer number of people coming, and the devotees who, despite our yearly reminders not to climb the andas, still climb. That becomes the reason for the delays,’ he said.

For the 2026 feast, the procession will continue to follow the 5.8-kilometer route, passing through 18 national and city roads, seven bridges, three parks and plazas, and one underpass.

Organizers also appealed to the public not to crowd or ‘stand by’ on bridges to avoid accidents or possible structural failure.

They again reminded devotees not to climb the andas to prevent delays and injuries.

‘The true expression of our devotion is not shown by climbing the andas, but by yielding-by lifting up Jesus Nazarene and not ourselves or our bodies,’ Arellano said.

This year’s procession lasted 20 hours and 45 minutes.

The longest Traslacion was recorded in 2012, 2017, and 2019, each taking 22 hours to complete.

ELEVEN business groups who are members of the Partnership with Multi-Sectoral Group (PMSG) said Bureau of Internal Revenue (BIR) Commissioner Martin Mendoza’s leadership comes at a ‘critical time’ for sustaining the country’s economic momentum.

‘Commissioner Mendoza brings with him a distinguished record of public service, marked by extensive experience in tax administration, fiscal oversight, and organizational leadership,’ PMSG said in a statement on Monday.

The multisectoral group said the newly-appointed BIR chief’s expertise ‘comes at a critical time for sustaining the country’s economic momentum, and we look forward to his programs toward a more efficient, transparent, and trusted BIR.’

The PMSG is a platform established under a Memorandum of Agreement with the BIR.

The members of the PMSG are: Alliance of Tech Innovators for the Nation, Association of Certified Public Accountants In Commerce and Industry, Association Of Certified Public Accountants In Public Practice, Federation Of Filipino Chinese Chambers Of Commerce And Industry, Inc., Financial Executives Institute Of The Philippines, Joint Foreign Chambers Of The Philippines, Makati Business Club (MBC), Management Association Of The Philippines (MAP), Philippine Chamber Of Commerce And Industry (PCCI), Philippine Exporters Confederation, Inc. (Philexport) and Tax Management Association of the Philippines (TMAP).

‘PMSG believes that a strong, modern, and responsive BIR is vital to a stable and competitive business environment,’ the 11 business groups noted.

‘We look forward to continuing this partnership with Commissioner Mendoza at the helm, and deepen structured dialogue, align policies, and accelerate digital transformation,’ added the PMSG.

The business groups expressed confidence that under Mendoza’s leadership, the BIR will further simplify compliance, strengthen taxpayer education, and promote voluntary compliance, ‘ultimately’ supporting ease of doing business.

In a separate statement, six business groups-the Financial Executives Institute of the Philippines (FINEX), Institute of Corporate Directors (ICD), Makati Business Club (MBC), Management Association of the Philippines (MAP), the Philippine Chamber of Commerce and Industry (PCCI) and the Philippine Finance Association (PFA)-underscored that the Philippine business community remains ‘strongly committed’ to supporting a competitive, resilient, and inclusive economy.

These business groups noted that while the current political turmoil raises ‘understandable’ concerns, ‘We stress that the country’s long-term fundamentals remain strong; anchored by a well-regulated financial system, a stable banking sector, and companies that continue to invest and believe in the Philippines.’

The six business groups emphasized that ‘the institutions that safeguard our markets continue to operate independently and rigorously.’

They noted that the Bangko Sentral ng Pilipinas and the Securities and Exchange Commission uphold regulatory frameworks aligned with global standards, ensuring ‘market integrity,’ prudent risk management, and strong investor protections.’

These business groups continued to believe that private sector investment has stayed strong.

‘Over the last 10 years, gross fixed capital formation in the Philippines has consistently ranged between 22 percent and 27 percent of GDP, with total investment surpassing P6 trillion in 2024,’ the business groups said.

This ongoing level of capital spending, they pointed out, mainly driven by business growth, clearly indicates that Philippine companies continue to build capacity, expand operations, and invest in the country’s long-term prospects.

‘We also recognize that investor confidence is influenced not only by economic fundamentals but also by governance. We therefore urge public institutions to ensure policy stability, uphold the rule of law, and address corruption quickly and decisively,’ the six business groups noted.

‘Clear guidance, consistent enforcement, and transparent decision-making are crucial to maintaining growth momentum and gaining the trust of both domestic and foreign investors,’ they also noted.

‘As business organizations, we affirm our commitment to responsible leadership, ethical practices, and constructive engagement with government. We will continue investing, creating jobs, expanding industries, and strengthening our economy’s productive capacity,’ they said.

In a time of increased uncertainty, the business groups underscored that their message is clear: ‘the private sector remains united in its belief in the Philippines’ long-term potential.’

ACTING Philippine National Police (PNP) chief Lt. Gen. Jose Melencio Nartatez Jr. on Monday said that policemen securing the three-day anti-corruption protest of the Iglesia Ni Cristo (INC) and other groups will be using body-worn cameras to ensure full transparency and accountability in the conduct of crowd management.

This measure aims to assure both protesters and the broader public that police actions will be recorded from start to finish in line with the instruction of President Ferdinand R. Marcos Jr. to ensure that police engagements are properly documented, professionally executed, and grounded in respect for the rights and freedoms of all citizens.

Nartatez also said the use of body-worn cameras ensures that every interaction is documented.

‘This strengthens public trust that the PNP is committed to lawful and respectful policing,’ he said.

Nartatez also explained that body-worn camera recordings will play a crucial role in addressing any allegations of misconduct, provocation, or operational lapses that may emerge during the protest.

Amid the expected heavy turnout and widespread online activity surrounding the INC protest, Nartatez stressed the importance of having reliable, verifiable recordings.

‘The footage will help us correct false claims and present what truly happened,’ he noted.

To guarantee smooth implementation, the PNP has ordered all field units to complete operational readiness checks such as covering battery life, storage capacity, device integrity, and activation protocols.

Monitoring teams have also been deployed to ensure that cameras remain active during crowd control operations, checkpoints, and the handling of complaints or security concerns.

THE Nationalist People’s Coalition (NPC) said there was no ‘legal weight’ in former Ako Bicol Rep. Zaldy Co’s videotaped allegations.

The NPC made this pronouncement after Co released a videotaped statement, alleging that former Speaker Martin Romualdez told him to stay outside the country when he left the Philippines at the instructions of President Marcos.

He also claimed that the Department of Budget and Management (DBM) Secretary Amenah Pangandaman instructed him at the start of the bicameral conference committee deliberations for the 2025 budget to insert at least P100 billion worth of projects into the bicameral version.

Co also alleged that he received a list of projects worth P100 billion at a later meeting with Romualdez, Pangandaman, and Undersecretaries Jojo Cadiz and Adrian Bersamin.

‘As it stands, [Co’s] recording is unsworn, unnotarized, unauthenticated and produced abroad, and therefore carries no legal weight or value as formal testimony,’ the NPC said.

‘If Co wishes to pursue his claims, he may execute a sworn affidavit, submit supporting documents, and appear before the appropriate authorities. These steps-not unsworn recordings-will allow for a clear and credible resolution of the issues at hand.’

Furthermore, the NPC explained that once the National Expenditure Program (NEP) is submitted, adjustments during the bicameral conference committee originate solely from Congress. As such, the NPC noted that no external entity could introduce insertions at that stage.

‘During the period in question, responsibility for House-side changes rested with Co. Suggestions that attempt to place accountability elsewhere are inconsistent with long-established budget procedures.’

Return to the country

Meanwhile, other major political parties of the House urged Co to return to the Philippines and face the investigation on the controversial flood control projects.

The National Unity Party (NUP) and Partido Federal ng Pilipinas (PFP) issued separate statements on Monday calling for Co’s return to the country to appear before the Independent Commission on Infrastructure (ICI).

‘We call for the ICI to act with urgency on these allegations and urge the full cooperation of the high-ranking officials mentioned [in Co’s claims],’ the NUP said.

‘We further call for Co to appear before these investigations and testify under oath to the accusations he publicly raised. If his assertions are grounded in fact, then there can be no fear in bringing the full truth to light.’

The PFD also sought for Co’s return to the country, stressing that jurisdiction couldn’t be exercised over someone who refuses to appear.

‘No video recorded abroad can substitute for sworn testimony, cross-examination, and accountability before the proper bodies,’ the PFD said.

In contrast, the PFD noted that all members of the House who were asked to clarify matters have voluntarily appeared before the ICI and availed themselves of due process and the rule of law, while Co has not.

‘If Co believes in the validity of his accusations, the proper venue is here in the Philippines-before the ICI and before our investigative bodies-not in a video taken overseas,’ the PFD said.

‘Here he will have every opportunity to air his side, present evidence, and answer questions under oath. If there are legitimate concerns for his safety, the government has the means to ensure his protection while he testifies.’

Manila, Philippines, 18 November 2025 – Dr. Malina Ngai, Group CEO of AS Watson, has been named one of Fortune’s Most Powerful Women in Asia 2025, ranking 6th on the list and standing out as the only retail leader among the top 10. The recognition was announced online earlier this month, and the award was formally presented to Ngai at the Fortune Innovation Forum gala dinner held in Kuala Lumpur last night.

Speaking at the forum gala dinner, she talked about ‘The Science Behind a 185-Year Company’, sharing insights on leading a vast retail network amid evolving market dynamics. AS Watson, the world’s largest international health and beauty retailer, operates over 17,000 stores across 31 markets. In Malaysia, Watsons has over 800 stores and is the number one health and beauty retailer.

‘Leading a company with 185 years of history is both an honour and a challenge,’ Ngai stated. ‘Heritage gives us credibility, but relevance keeps us alive. Tradition gives us roots, but innovation gives us wings.’ She emphasised the importance of deep listening to customers, colleagues, and partners, and making decisions with both head and heart.

Ngai highlighted the company’s focus on talent and agility, stating, ‘Culture is the bridge between past and future. We invest in talent and agility so our teams can adapt quickly without losing our DNA.’ Drawing on her background as a competitive athlete, ‘What sports have taught me is a kind of true resilience that no business school can teach. As a competitive athlete, you train for months for just a few minutes of performance. That focus, anticipation, perseverance, and the spirit of never easily giving up – that’s the essence of resilience.’

Ngai also shared how sports have shaped her leadership style, emphasising focus under pressure, rapid decision-making, and the importance of teamwork and trust. She underscored AS Watson’s commitment to blending ‘art and science’ into retail, using data and AI to personalise offers while maintaining a human connection with customers. ‘We are a technology-powered company with a human soul,’ she said.

As AS Watson approaches its 185th anniversary, the company continues to innovate and adapt to meet the evolving needs of its customers, blending its rich heritage with a forward-looking approach.

In the Philippines, Watsons operates over 1,200 stores nationwide, reflecting its commitment to bringing health, wellness, and beauty closer to every Filipino. This is further strengthened by the Watsons app, which offers exclusive deals, personalized recommendations, and convenient services such as Click and Collect and home delivery, making quality health and beauty products more accessible to communities across the country.

Manila Water reported that its earnings jumped by 25 percent to nearly P12.6 billion in January to September.

In a statement, Manila Water said the continued topline growth momentum in the company’s East Zone Concession and Non-East Zone Philippines (NEZ PH) businesses was the primary driver for the strong performance.

With further support from continued initiatives aimed at improving operating efficiency and productivity, Manila Water posted a 14 growth in EBITDA, surpassing P21 billion. This translates to a three-percentage-point improvement in EBITDA margin from last year, to reach 73 percent the company said.

During the period, Manila Water recognized a gain of P1.1 billion from the sale of its investment in East Water in Thailand. Excluding one-offs, core net income increased by 15 percent at P11.6 billion, with core net income margin improving by 2 percentage points to 39 percent.

For Manila Water’s East Zone Concession, revenues similarly increased by double-digits to reach P24 billion for the period, driven primarily by the implementation of the 3rd tranche of the approved Rate Rebasing tariff adjustment in January 2025.

Meanwhile, water demand saw a 1-percent decline in billed volume with lower consumption from residential customers with lower reading days, as well as lower cross-border volume.

Expenditures related to technology platform costs drove operating expenses for the period, but overall, were offset by efficiencies realized in power and other direct costs. These kept total costs muted at a 1-percent growth to P5.9 billion. EBITDA increased by 14 percent to P18.2 billion, with EBITDA margin improving by 2 percentage points to 75 percent.

Beyond the East Zone Concession, the company’s businesses across the rest of the country saw earnings growth of 11 percent to reach P852 million in net income for the period, driven by strong contributions from several of its key business units, by way of implemented tariff adjustments and a 5-percent increase in total billed volume.

The company said the main contributors during the period are several of the group’s core domestic businesses, namely Clark Water, Estate Water, as well as several subsidiaries operating in Visayas-Mindanao, namely Boracay Water, Cebu Water, and Tagum Water in Davao.

This solid performance pushed revenues up by 8 percent to P7 billion, resulting in a 5-percent improvement in net income to P1.1 billion. For Manila Water International, equity share in net income jumped significantly to P1.1 billion. This was driven mainly by the gain on the sale of the East Water investment, which was fully impaired in prior years.

Manila Water continued to invest in critical infrastructure towards the fulfillment of its regulatory and service commitments. Group-wide capital expenditures (capex) reached nearly P18 billion in January to September, with the East Zone Concession accounting for 85 percent of total capex at P14.9 billion.

Manila Water President and CEO Jocot de Dios is encouraged by the solid performance of the business units, even as the company begins to see significant benefits from its disciplined management of its portfolio and its deliberate approach to new business growth.

‘We are happy to see that the foundation laid for efficient and responsible operations, both within and outside our Metro Manila Concession, is lending towards the resilient performance we are seeing in our businesses. Equally important, our disciplined approach to managing our portfolio is now beginning to bear fruit.

We will continue to exercise the same rigor and discipline in running our existing businesses and in identifying new business opportunities. We know full well that the consistency by which we execute our strategy is what will enable us to deliver sustainable value to our shareholders and stakeholders.’

THE damage caused by tropical cyclone Tino to the local farm sector has nearly reached P1 billion, according to the Department of Agriculture (DA).

In its latest bulletin, the DA noted that the losses incurred by 49,927 farmers and fisherfolk have reached P968.16 million. Around 17,886 hectares of agricultural land were affected by the storm. Of these, 12,490 hectares have a chance to recover.

The agency noted that the volume of production losses across eight regions was pegged at 37,741 metric tons (MT). The regions included were Calabarzon, Mimaropa, Western, Eastern and Central Visayas, Northern Mindanao, Soccsksargen, and Caraga.

Rice bore the brunt of the damage at 18,558 MT. This was followed by high-value crops (11,496 MT), corn (7,248 MT), and cassava (440 MT).

Furthermore, 1,060 hectares (ha) of coconut plantation were damaged, while 18,345 animals were affected by the typhoon. This included chicken, swine, cattle, carabao, goat, duck, turkey, and guinea fowl.

Despite this, the bulk of the value of production losses was recorded in HVC at P393.29 million. Rice trailed behind at P336 million for rice, followed by corn at P143.76 million.

Furthermore, livestock and poultry incurred losses amounting to P29.53 million, fisheries and aquatic resources at P17.93 million, cassava at P10.42 million, and coconut at P8.14 million.

Damages to farm equipment, agriculture infrastructure, and irrigation systems were valued at P23.15 million, P5.43 million, and P500,000, respectively.

According to the agency, it has issued several assistance to assist farmers and fisherfolk affected by typhoon Tino.

Among these were the P422.8 million worth of farm inputs for rice, corn, and high-value crops; P1.51 million worth of bangus, tilapia, and carp fingerlings; and P66,990 worth of animal feeds and supplements for livestock and poultry.

The DA added that 2.57 million bags of rice stocks from the National Food Authority (NFA) for issuance to local governments and other relief agencies were also available.

Furthermore, the DA earmarked an initial amount of P22 million for the Survival and Recovery loan program of the Agricultural Credit Policy Council (ACPC), offering loans of up to P25,000. These loans come with a three-year repayment term, interest-free.

It also said that it allocated P142.31 million for the indemnification of insured affected farmers and fisherfolk, which would be released through the Philippine Crop Insurance Corp. (PCIC).