Category: Business Mirror

Vivant Corp. delivered a strong performance from January to September this year, ending the period with a 24-percent hike in core net income to P2 billion driven by its energy business.

Vivant has major investments in the water and energy industries. It reported Thursday that the power generation business ended the period with a net income contribution of to P1.7 billion which represents 63 percent of total net income from the strategic business units, as four of Vivant’s conventional plants saw reserve market (RM) nominations increase by 192 percent. Its unit 1590 Energy Corp. (1590 EC) has the highest volume of RM nominations at 865 gigawatt hours (GWh).

Vivant Energy Corp. (Vivant Energy) increased its total attributable power generation capacity to 471 megawatts (MW) with the acquisition of the 40-percent stake in Samal Solar Renewable Energy Corp. (SSREC), developer and operator of a planned 53.14 -MW solar plant in the province of Bataan.

Net income contribution from 35 percent-owned distribution utility (DU) Visayan Electric Co. (VECO) totaled P879 million, higher than P871 million earnings in 2024 as sales volumes across customer classes grew year-on-year (YOY). ‘Vivant continued to show strong results despite the slower than expected GDP growth in the first nine months of the year. I am proud of the resilience of our teams as we navigated market challenges and saw positive results from our power generation, energy distribution, and wastewater treatment operations.’ said Arlo G. Sarmiento, Vivant CEO.

Vivant’s portfolio of conventional plants delivered a total of 3,211 GWh. Of which, on-grid volumes totaled 3,015 GWh while off-grid assets sold 196 GWh of energy to its customers.

Overall energy volumes sold saw a 15-percent decline during the period. Nonetheless, the net income contribution of the power generation business grew by 12 percent to P1.7 million driven by trading gains from the participation of certain plants in the RM and Wholesale Electricity Spot Market (WESM), as well as revenue from Ancillary Services Procurement Agreement (ASPA) contracts.

Meanwhile, North Bukidnon Power Corp. (NBPC) and Cebu Energy Development Corp. (CEDC) recorded the highest YOY increase in spot market energy sales at 102 percent and 36 percent, respectively. Total volume sold through ASPA contracts was also 9 percent higher due to the energy dispatched by Therma Visayas, Inc. (TVI) and Meridian Power Inc. (MPI).

Net income contribution from VECO was at P879 million slightly up from P871 million the prior year, driven by the three-percent growth in DU sales volumes. Residential customers recorded the highest increase in volume sold at four percent, followed by industrial at three percent and commercial at two percent.

Vivant’s water business recorded a P184-million income contribution in compared with the P11 million loss recorded in the same period the prior year. In June 2025, the company began recognition of finance income from the concession of 100 percent-owned Isla Mactan Cordova Corp. (IMCC) as a result of the signed 25-year joint venture agreement between VHHI and Metropolitan Cebu Water District (MWCD) to supply Metro Cebu with water clean and potable water.

Congratulations to all the chefs, professional cooks and kusineros, as well as the restaurateurs and their dining establishments for being named on the first Michelin Guide for the Philippines.

I attended the awarding ceremony last October 30, and the joy of all these culinary professionals winning a top international accolade was quite infectious. I may not be someone who had to study French culinary techniques or worked in some top-notch, fine-dining restaurant, but as someone who has slaved over a stove or two to feed friends and family, I understand how it feels to receive compliments for a dish or meal everyone has enjoyed.

That these chefs and their kitchen teams had to whip up their dishes consistently over time, making sure their hearts and souls go into every plate served, is an amazing feat and, thus, it does them justice to be named to the Guide.

Of course, to this day, people are still discussing and debating the lists (One/Two Stars, Select, Bib Gourmand) wondering how such and such restaurant made the cut, and why others didn’t. (No, the inspectors didn’t make it to Negros Island, so hipos na kamo, mga palangga. Maybe next year!)

I am particularly happy to see my two favorite establishments-Cirkulo of Chef J Gamboa and sister Malu, and China Blue by Jereme Leung at Conrad Manila-listed in the Select category, definitely a well-deserved recognition. (I am specially fond of the Gamboa siblings because despite all their success, they remain humble and friendly to all. Their immense affection for their restaurant staff is the reason many of the latter have stayed with the siblings for so long.)

There are a few interesting restaurants I’ve been to on the starred list, but I can’t describe them as favorites because I have yet to eat there more than two times in their lifetime. So perhaps, I will get to love them too in due time.

Cheers as well to Tourism Secretary Christina Garcia Frasco, who worked hard to get the Guide to enter into a partnership with the Department of Tourism (DOT). Unfortunately, it is a fact of life that the Guide will not come to the Philippines out of the goodness of its heart to rate our restaurants, like it does in Europe or the United States.

The sad reality is, like our neighbors in Southeast Asia, the DOT has had to pony up some millions of dollars to get the Guide to rate Philippine restaurants. (It probably doesn’t help that Michelin Tires doesn’t even sell enough of its products here these days especially with the onslaught of cheaper substititutes from China.)

I remember chatting one time with Tourism Secretary Mon Jimenez, who was then working to position the Philippines as a center of gastronomy in Southeast Asia. He had just successfully pulled off the first Madrid Fusion Manila, and in our discussion he said that if he wanted to, ‘I can get [the] Michelin Guide to come here.’

But I guess Sec. Mon knew it would not have been sustainable given the the sizeable amount of funds to pay the Guide, which the DOT did not have. So he just stuck with the partnership with Madrid Fusion to hold a Manila edition, which lasted for three years, carrying over to even his successor, Wanda Tulfo-Teo.

And so funds willing, Frasco hopes to continue the partnership with the Guide, hoping its foreign and local inspectors will also fan out to Iloilo, Bacolod and other parts of the Visayas, as well as Davao and its neighbors in Mindanao. As she said in our interview right after the Guide handed out the awards, ‘Our regional cuisine is so diverse, [these] really deserve to be highlighted.’ I agree. For one, a steaming bowl of batchoy at the La Paz Public Market in Iloilo is certainly worth repeated visits.

So will the Michelin Guide Philippines attract enough foreign tourists? That remains to be seen. It will be up to our hardworking tourism attaches abroad and DOT’s own marketing people (or consultants) to seize the Guide and weave its information into effective promotions for the Philippines.

NOW, it’s bad enough that the Philippines only received 4.77 million foreign visitors from January to October this year, but to have the DOT headlining earthquakes and typhoons on its own Facebook page seems counterproductive to its own efforts to encourage tourists to visit the country.

I doubt that the people who run the DOT’s social media accounts understand why these exist in the first place. Don’t they know that foreigners looking for information on how to travel to the Philippines peruse these accounts?

Good na sana that they read about the Philippines now having Michelin-starred restaurants, but then to see updates of all the natural disasters here, then photos of the Tourism Secretary handing out relief packs.parang mixed messaging, di ba? And yet they wonder why DOT’s partners canceled flights and bookings to Cebu?

I often read the government-run tourism pages of our Southeast Asian neighbors just to check out what’s happening in their neck of the woods. What page visitors will see are waterfalls, river cruises, old-world charm in their architecture, fun frenzied dancing, among other exciting activities tourists are sure to enjoy. Many of these countries are already promoting events happening in 2026.

Unfortunately, since this administration, the DOT social media accounts have become more politically-oriented than marketing-focused. I get that Secretary Frasco used to be a mayor, and politics is a way of life for her. But perhaps all photos and information of her activities relating to non- DOT matters (yes, like handing out relief goods in typhoon-affected areas) should be relegated t? her personal page, not the DOT’s.

DOT should be posting about what tourists can love about the Philippines-our colorful fiestas, scuba diving in the fish-fevered deep, relaxing spa massages, ziplining over tree canopies, or descriptions of our flavorful local cuisine. Not crumbling church walls, post-magnitude 6.9 earthquake.

Know your target audience, then share the information they most need.

CANADA has pledged over CAD 76.4 million (P3.21 billion) in new development projects and CAD 1.2 million (P50.4 million) in humanitarian assistance to support the Philippines’ recovery and long-term resilience.

The announcement was made by Canadian Secretary of State for International Development Randeep Sarai during his official visit to Manila on Friday.

Sarai expressed condolences for victims of recent earthquakes in Cebu and Davao, as well as typhoons Tino (Kalmagi) and Uwan (Fung-Wong), commending the Philippines’s evacuation of over one million residents as ‘a commendable capacity and strength.’

He warned that climate change is driving more frequent and severe storms, threatening lives and livelihoods across the region.

The new Canadian funding will target:

Disaster risk reduction and preparedness

Food and water security

Ecosystem protection and biodiversity conservation

Greenhouse gas reduction and energy security

Sexual and reproductive health services

Nutrition programs for children affected by conflict and malnutrition

12 key development projects approved

Canada’s investment will fund 12 new initiatives aligned with Philippine priorities:

Climate Resilient Agri-Food Trade Promotion Support (CRAFTS)-CAD 5M to help women-led SMEs adopt climate-smart technologies and access global markets.

Economic Linkages for Enhanced Value, Trade and Exports (ELEVaTE)-CAD 5M to boost export readiness for 400 SMEs, focusing on women entrepreneurs.

Disaster Resilient and Climate Adaptive Food Systems (DRCAFS)-CAD 9.1M to strengthen food security for 15,000 smallholder farmers in disaster-prone areas.

Building Capacities for Eco-Resilience-CAD 3.1M to restore 125,000 hectares of ecosystems and train 3,500 people in nature-based disaster risk reduction.

Addressing Stunting in the Philippines-CAD 7.1M to improve nutrition for 140,000 mothers and children under five.

Isla Maganda Peace Education Program-CAD 3.1M to deliver peace education to 44,000 children in conflict-affected regions.

Sustainable and Transformative Action to Realize SRHR (STARS)-CAD 7.1M to expand sexual and reproductive health services for women, girls, and LGBTQI+ individuals.

Building Resilience through Inclusive Development and Gender Equality (BRIDGE)-CAD 3.7M to address water stress and promote gender-responsive disaster planning.

Agsama Kape (Together for Coffee)-CAD 9.1M to help Indigenous women coffee farmers adopt climate-smart practices.

Empowering Stewardship in the Coral Triangle-CAD 11.15M to support women-led marine conservation across 65,000 hectares.

Energy is the Key to a Climate Stable Future (Enerkey)-CAD 11M to promote transport electrification and clean energy transition in the Philippines and Indonesia.

Toward Sustainable Energy

Security in Asean-CAD 2M to strengthen regional energy connectivity through the Asean Power Grid.

Aid with accountability

Funds will be delivered through multilateral and bilateral partners, not directly to government agencies, ensuring strict anti-corruption safeguards.

Sarai emphasized Canada’s long-term approach: ‘We look at it from a long-term perspective-building readiness, resilient infrastructure, and crops that can withstand disasters,’ he said, citing Canadian-backed potato varieties that tripled yields for Filipino farmers.

‘Investing in people and processes ensures communities can stand on their own.’

During his Manila visit, Sarai met withEnergy Secretary Sharon Garin, Agriculture Secretary Francisco Tiu-Laurel, and Socioeconomic Planning Secretary Arsenio Balisacan.

Discussions focused on energy cooperation, food security, and inclusive economic growth.

Canada remains one of the top six donors to the Philippines, having provided over CAD 1 billion in aid over decades. Sarai said stronger partnerships with like-minded nations will help Manila bolster sovereignty and resilience amid regional tensions.

I am looking out of the window of this huge hotel I have been holed up in for some two days now. The rains have not stopped; there was a window of about an hour of sunshine but then it got stormy again.

Travelling to this frontier land- the last as we are told always-one always believes one is treading on a territory that is not ours. Or one that is separate, different from us.

The tendency is to try to define the inhabitants here, the name of the people who properly live on this island. Proprietary citizens, we may call them. But the question is not easy. There is the Palawan; and there is also, to the consternation of the native, the Palawano.

But we listen to songs and the dialects, for somebody mentions the Cuyonon, a regional Bisayan language identified by the Summer Institute of Linguistics, and considered as lingua franca of Palawan. And before you could say Cuyo, there would be protests from the Batak and Tagbanua. For there would be other groups as well, each one claiming identity under the banner of Palawan.

Living on the island, however, brings us to contact with other groups. The Tausugs, for example, have ethnic memories of the Palawan as ‘Palawano Traan’ or those that have been scattered or ‘people in scattered places.’ Ethnography indicates the origins of these people from those found in the Tabon caves, a cave system located in Lipuun Point, Panitian, Quezon, in Palawan.

Reputedly the most popular cave system in the country, the Tabon Caves have been called ‘the cradle of civilization,’ due to the presence of the number of burial jars and prehistoric remains discovered in the area from the 1960s. The most well-known of the finds in this site was the ‘Tabon Man.’

Interestingly, the caves are named after the Tabon scrubfowl, a Philippine megapode, a medium-sized bird found also in the Philippines, northern Borneo and Sulawesi. The said bird, which nests on the shore near the sea, used to inhabit the area of Ticao island, which gave rise to the Tabon festival as celebrated on the said place. Whether there is truth to this origin myth or not, Palawan seems to hold a key to much of the mystery or history of the land.

Now, here I am looking out into the vast sea extending beyond the pools of this resort. I am tempted to look at the map because there is nothing out there except the sea. With the storm not abating, I sense now a country that is finding it difficult to mark its boundary.

The Spratly islands should be out there. Consisting of more than 100 reefs, islets and cays, and covering some 158,000 square miles, this composite should be an amazing resource for a country like ours. But the Spratly Islands have been disputed for a long time.

For one, the Spratly Islands are named after a British whaling navigator. With stakes in the islands are China, Malaysia, Taiwan, Vietnam, Brunei, and the Philippines. The islands, as a result of these differences and claims, have Chinese, Malaysian, Vietnamese, and Philippine names. Very much like the many inhabitants of Palawan, which are numerous and varied.

To add to the splendor of the land, one encounters the so-called ‘Taaw’t bato,’ which is often simplified into ‘taong bato, which literally means ‘people of the rock,’ a reference to those living in the southern interior of Palawan. One can go deeper and look for those who live in the upriver, pointing to those isolated from the rest. This categorization, of course, is common, even among other lowlanders when the direction of the stream divides the residents as to their residence.

I could belabor the point. This is a common affliction of one who is a stranger in one’s own island. Or of one who savors the loneliness or the allure of being a stranger in one’s island, where each day-each moment-a way of cooking and taste makes us wonder why we have lost our sense of self. Or, because beauty is such a vanishing tradition or one that is merely passing, and because even our own histories are phantasms we like to chase with modifiers and verbs that never make sense even to the native speaker.

The group of businessman Manuel V. Pangilinan (MVP) is in talks with the Villar Group for the possible acquisition of the assets of PrimeWater Infrastructure Corp.

Pangilinan said his group has signed a non-disclosure agreement with the Villar Group, who has also opened its data, some two to three weeks ago for a due diligence on its operations.

‘So, we’re getting initial feedback from the preliminary analysis of the numbers as they’re provided to us. That’s all. I don’t think we finished this first stage analysis of PrimeWater. Probably takes another week to be able to frame an offer to them,’ Pangilinan said in a media briefing.

‘So, nothing is finalized. We are at the beginning of the process. And it’s difficult to predict where we will eventually land. I think they have about 70 to 80 properties all over the Philippines.’

He said there some of the properties are big, but there are also small ones.

‘And so we don’t know the approach yet, whether we will bid for only certain of the properties that are large enough to give us profitability or whether they will insist that we acquire the entire thing.’

Pangilingan said the discussions also included some PrimeWater debts.

‘So, no valuations indicated by us to them. So, we’re looking. And I think if it works for us, if it’s feasible, commercially feasible for the group, then obviously we will take a look at it more seriously.’

Pangilinan said the deal may involve Metro Pacific Water but there may be some assets that west zone concessionaire Maynilad Water Services Inc. may be interested in.

‘I think certain assets of PrimeWater, the bigger ones principally, should be attractive for Maynilad to acquire. And we would encourage them. Obviously, the views of DMCI (Holdings Inc. of the Consunji Group), our partners in Marubeni, would have to be taken into account.’

Pangilinan said historically its partners in the utility firm have been quite cool to the idea of growth outside the West Zone, but he said they have seen a softening of that stance because of the recent listing on the Philippine Stock Exchange.

Ramoncito S. Fernandez, Maynilad’s president and CEO, said PrimeWater is not in talks with them but with its shareholder, Metro Pacific Investment Corp.

Maynilad, he said, may enter the fray if it makes ‘commercial sense,’ not only to MPIC, but also to its other shareholders.

WITH the signing of the Association of Southeast Asian Nations (Asean) Extradition Treaty (AET), President Ferdinand Marcos said the regional bloc’s efforts in combating cross-border crimes will be greatly enhanced and also serve as basis for greater collaborations in the future, including a legal framework on Artificial Intelligence (AI).

The new treaty harmonizes the legal principles on extradition of nationals, procedures for provisional arrest and documentation, and mechanisms for the settlement of disputes and implementation of Asean members.

‘The signing of the AET will be a defining moment in our effort to bring to justice those who have acted against the law,’ Marcos said in his keynote address during the 13th Asean Law Ministers’ Meeting (ALAWMM) in Taguig City last Friday.

‘With this landmark treaty, we send a clear message to the world that we are united and that our legal foundation is stronger than ever,’ he added.

The President lauded the timely signing of the AET amid the growing threat of transnational crimes, including cybercrimes.

He said he hopes ALAWMM can also look into the ethical and legal implications of AI to ensure ‘laws can govern the digital space fairly and securely.’

‘We must also intensify our efforts to be proactive, ensuring that Asean’s growth is sustainable, secure, and rooted in human dignity,’ he said.

During the 32nd Asia-Pacific Economic Cooperation (Apec), Marcos supported the calls for the mainstreaming of AI to help spur global economic growth.

Marcos stressed the importance of setting up such an inclusive legal framework to prevent ‘corruption, inefficiency, and impunity,’ in society.

His administration has been using such a framework in its ongoing campaign against flood control project anomalies.

Before ending his speech, he also committed to extend support to Asean’s newest member, Timor-Leste as it prepares to join the ALAWMM.

Established in Bali, Indonesia in 1986, the ALAWMM serves as a vital platform for the Secretaries of Justice, Justice Ministers, and Attorneys-General of the Asean Member States for collaboration on legal matters.

‘Asean is only as strong as the engagement of every member, every member state, and we value every voice at the table,’ Marcos said.

‘Let us continue on this path as we make the Rule of Law the most enduring promise we can make to our peoples. Together, let us honor that promise and work towards it, united in the belief that justice and fairness know no borders in ASEAN,’ he added.

Listed West Zone concessionaire Maynilad Water Services Inc. reported on Thursday that its income in January to September rose 18 percent to P11.36 billion from the previous year’s P9.63 billion, driven by higher revenues and a modest 2-percent increase in cash operating expenses.

Revenues grew 9 percent to P27.65 billion from the previous year’s P25.24 billion, after an 8-percent tariff hike implemented in January this year and the adjustment in the environmental charge to 25 percent from 20 percent.

The company said it saw a 1-percent decline in billed volume, following government restrictions on Philippine offshore gaming operators and the transfer or closure of several large commercial accounts in the West Zone.

For the third quarter alone, the company’s income went up by 15 percent to P3.91 billion from last year’s P3.39 billion, while revenues rose 8 percent to P9.3 billion from the P8.57 billion recorded a year ago.

As of end-September 2025, Maynilad’s non-revenue water level improved to 32.8

percent, from 39.3 percent in the same period last year. This reduction-equivalent to about 231 million liters of water per day recovered-is comparable to the production capacity of a large water treatment plant. The improvement was driven by intensified pipe replacement and leak-repair activities and the wider use of satellite and AI-based leak-detection technologies.

The company also continued to invest heavily in system upgrades and new water-treatment facilities under its 2023-2025 capital expenditure (capex) program.

Ramoncito S. Fernandez, the company’s president and CEO, said the company is expected to spend some P30 billion in capex next year.

The company, he said, has been allotting an average of P26 billion in spending program per year during the last three years, which were all part of the P163 billion in commitment to the government.

Fernandez said he is confident that the company will surpass its budget in income for the year.

‘Our focus is to continue improving our services to our customers within the west concession area,’ Fernandez said in a media briefing.

‘We will offer wastewater and sanitation services to our existing customers in the zone, because our service obligation is only to residential. The commercial-industrial are doing their wastewater by themselves so we can offer our services to help them in their wastewater and sanitation management.’

He said the company may also offer bulkwater services to the two Manila Bay reclamation projects, which may be finished in 10 years, and also in the adjacent Metro Manila areas in Bulacan and in Cavite.

‘So, we are a potential supplier to their treated bulk water requirements,’ Fernandez said.

Conglomerate Ayala Corp. on Thursday said its income for the nine months of the year jumped 36 percent to P46.26 billion from the previous year’s P33.94 billion, on the back of the good performance of its banking and property development units.

The said figure, however, included one-off items such as its gains from the revaluation of AC Ventures, which holds Ayala’s direct stake in Mynt, the operator of GCash.

A re-measurement gain was booked because of Mitsubishi’s subscription to a 50-percent stake in AC Ventures, effectively acquiring an indirect ownership in Mynt, or Globe Fintech Innovations Inc.

Mynt is a partnership between Globe Telecom Inc., Ayala and Ant Group Co. Ltd.

Core net income, which excludes the said one-off items, was flat at P36.6 billion.

Revenues for the nine-month period rose 2 percent to P274.7 billion from the previous year’s P268.45 billion.

Core net income for the third quarter alone, meanwhile, sequentially improved 4 percent to P12.8 billion, the company said.

Globe’s core net income for the period, which excludes non-recurring items such as accounting gains from the Mynt transaction, towers sale and leaseback, and foreign exchange and mark-to-market adjustments, fell 12 percent to P15.5 billion due to lower gross service revenues and higher depreciation and interest expenses.

ACEN Corp.’s core net income declined by 18 percent to P4.3 billion due to lower revenues as a result of damage to wind farms in Ilocos Norte, softer local spot market prices, reduced solar irradiance in the Philippines and Australia, and the onset of depreciation expenses from plants operationalized in 2024.

Ayala Healthcare Holdings Inc. narrowed its net loss year-on-year to P9 million from the previous year’s P417 million on the back of a strong performance from its provider business, a P103-million gain on the sale of KMD shares and the absence of KMD losses.

Revenues from the provider network’s hospitals and multi-specialty clinics grew 69 percent, underpinned by a higher patient census, increased average spend per patient and the expansion of corporate clinic accounts. This growth was further supported by contributions from FEU-NRMF and the Cancer Hospital.

Revenues from the pharma group declined 4 percent, due to supply chain disruptions and reduced commercial demand for select molecules within the importation and distribution business.

ACMobility achieved a turnaround as it generated a net income of P18 million from last year’s P176-million net loss, due to volume growth, which drove narrower losses in the distribution and dealership businesses.

Total unit sales more than doubled to 31,669 from 14,982, anchored by strong take-up for the BYD Sealion 6-DMi, BYD Sealion 5-DMi and Kia Sonet.

This boosted ACMobility’s total market share to 8.7 percent, double the market share of

4.3 percent in the same period last year.

Meanwhile, its share in the new energy vehicles segment rose 6.5 percentage points to 81.5 percent, up from 75 percent.

ACMobility has installed a total of 336 charging points nationwide, of which 292 are electrified across 120 locations.

Former Public Works Undersecretary Roberto Bernardo testified anew at the Senate Blue Ribbon committee on Friday, providing more details about claims that several lawmakers had sought and received kickbacks for infrastructure projects.

At the hearing presided over by newly reinstalled Blue Ribbon chairman, Senate President Pro Tempore Panfilo Lacson, the once-powerful Discaya contractor-couple Pacifico and Cezarah were directed by senators to go home and search for the ‘ledger’ of transactions from kickbacks, which they had promised to provide Senate probers two months ago.

The Discayas were escorted by Senate security and police, from the Senate building in Pasay City, where Pacifico had been kept in detention after being cited in contempt by the Blue Ribbon.

While the Blue Ribbon hearing was going on, House reporters received a video statement from Rep. Zaldy Co, whose request for a virtual testimony from abroad was earlier rejected by Lacson.

In his video, Co claimed he was forced to speak up because he was set up to be the ‘poster boy’ for corruption by then-Speaker Martin Romualdez and President Ferdinand Marcos Jr.

Lacson said the supposed statement has no probative value because it is not a sworn statement, nor was made in the presence of a consular official.

Reading from his supplemental affidavit, Bernardo cited instances over three years when he caused the delivery of hundreds of millions to several lawmakers: incumbent senators Ramon ‘Bong’ Revilla Jr., Jinggoy Estrada, Chiz Escudero and Mark Villar, who was former DPWH chief; and former senators Grace Poe, Nancy Binay and Juan Edgardo Angara, who is now Education Secretary.

In the cases of Binay, Angara and Poe, Bernardo said he or his subalterns dealt mainly with aides, and ‘presumably’ the delivery of commitments was with the lawmakers’ knowledge.

Escudero’s lawyer Ramon Esguerra said: ‘There is no direct evidence presented in the testimony of Bernardo linking Senator Chiz to any criminal act. Speculations and insinuations are not evidence. These are at best hearsay, lack basis, and are self-serving statements that will not stand in any court of law.

‘We believe that these allegations are merely designed to besmirch and destroy Senator Chiz’s reputation, as well as that of the Senate.

In a statement, Estrada said: ‘I vehemently deny the allegations linking me to any flood control project. The claim that I supposedly received a ‘percentage’ from these projects is baseless, reckless, and unsupported by any credible evidence whatsoever.’

Estrada noted discrepancies between the two affidavits of Bernardo. ‘These glaring inconsistencies, omissions, and later embellishments cast serious doubt on the truthfulness, reliability, and motives behind his statements. Affidavits that materially contradict each other cannot be the basis of any honest accusation. They collapse under the weight of their own inconsistency.’

He vowed to ‘pursue every available legal remedy against those who persist in spreading false, defamatory, and malicious statements.’

Angara said in a statement:

‘We reject any insinuation made today that we were involved in anomalous projects. In my 21 years in government we have never been involved in corruption.’

Poe, Villar and Binay also denied the allegations.

THE Bureau of Internal Revenue (BIR) will prioritize maximizing revenues by strengthening tax enforcement to plug leakages, while pursuing reforms to modernize and professionalize tax administration under its new leadership.

Newly appointed Internal Revenue Commissioner Charlito Martin R. Mendoza told BusinessMirror that his top priority up to year-end is maximizing revenues to close the gap between actual collections and the target.

‘I am fully committed to ensuring that the BIR continues to modernize and deliver efficient, transparent, and service-oriented tax administration,’ Mendoza said.

This year, the BIR aims to collect P3.219 trillion, higher by 13.02 percent than last year’s target of P2.848 trillion. The BIR will contribute 71 percent of the government’s P4.520-trillion full-year revenue target.

About P2.322 trillion, or 72.13 percent, of the BIR’s full-year target has been raised as of the end of September.

With the Christmas season expected to drive up consumer spending, Mendoza said the BIR is closely monitoring sales receipts and tax collections from major consumer goods, as well as from vice and petroleum products.

Meanwhile, the Semiconductor and Electronics Industries in the Philippines Foundation, Inc. (SEIPI) said Mendoza’s leadership will ‘inspire confidence’ among stakeholders, particularly in the semiconductor and electronics sector.

In a statement on Thursday, SEIPI said it recognizes the ‘significant role’ Mendoza will play in advancing a revenue system that is ‘transparent, efficient, and responsive to the evolving needs of both the public and private sectors.’

The organization of foreign and Filipino electronics companies in the Philippines recognized the newly appointed BIR chief’s commitment to ‘good governance, digital modernization, and service excellence’ which the group said is expected to drive lasting reforms and inspire confidence among stakeholders, particularly in industries that contribute significantly to national growth such as the semiconductor and electronics sector.

As the new taxman, Mendoza’s marching orders to regional and district offices is to ‘collect, collect, collect.’

‘Our main goal will always be to collect taxes efficiently and fairly, because those funds sustain our national programs,’ Mendoza said.

To do this, Mendoza said the BIR must rebuild and reinforce public trust by advancing reforms in regulations, digitalization, education and client experience.

The bureau must also aggressively investigate and prosecute tax evasion and collect tax deficiencies. ‘These efforts must go hand in hand,’ Mendoza said.

‘At the Department of Finance [DOF], we have supported the improvements and reforms the BIR has implemented, and we will continue to build on those programs, especially in advancing digitalization and reforms for institutional efficiency,’ Mendoza added.

BIR ‘in good hands’

Meanwhile, Finance Secretary Ralph G. Recto said the BIR is in ‘good hands’ after the leadership change in the country’s main tax-collecting agency.

‘I trust that under his leadership, the BIR will meet and even exceed our revenue targets. Above all, I trust that he will always keep the well-being of our taxpayers at the heart of all your efforts,’ Recto said.

Mendoza, who served as undersecretary for Revenue Operations since April 2024, led the DOF’s BRAVE campaign against smuggling and illicit trade, with digitalization at its core.

Under his leadership, the DOF surpassed its 2024 revenue target, collecting P4.42 trillion-equivalent to 16.7 percent of GDP, the highest in 27 years.

Before his appointment in DOF, Mendoza served as District Collector for the Bureau of Customs Port of Cebu from July 2019 to October 2022, where it achieved significant milestones in revenue collections and border protection.

Mendoza earned his Bachelor of Laws degree from San Beda University and ranked third in the 2004 Philippine Bar Exam.

He succeeds former BIR Commissioner Romeo D. Lumagui Jr., who led the bureau since November 2022.

Lumagui’s key initiatives included the Online Registration and Update System (ORUS), a web-based platform for end-to-end registration and taxpayer information management, and the Run After Fake Transactions (RAFT) drive, which filed civil, criminal and administrative cases against those involved in ghost receipts.

He also intensified the BIR’s crackdown on illicit trade in excisable goods, such as cigarettes and vape products, to protect revenues and ensure fair competition.

SEIPI, meanwhile, also noted that Mendoza brings ‘extensive experience’ from his previous roles at the Bureau of Customs and DOF.

‘With a strong foundation in fiscal policy, public administration, and institutional reform coupled with his integrity and proven leadership, he is well-positioned to lead the Bureau of Internal Revenue during this crucial phase of the nation’s fiscal transformation,’ Seipi noted.

With this, Seipi expressed its full support for Mendoza.