Category: Business Mirror

AN estimated P160 billion in receivables from the Philippine Charity Sweepstakes Office (PCSO) and the Philippine Amusement and Gaming Corp. (Pagcor) is being eyed to fund PhilHealth’s benefit expansion, particularly for the development of primary care services.

Under the Universal Health Care (UHC) Law, the Philippine Health Insurance Corp. (PhilHealth) is entitled to 8 percent of the 50 percent share of the revenues of the two revenue-generating agencies. PhilHealth President and CEO Edwin M. Mercado said the accumulated receivables from 2019 to 2025 can serve as a substantial source for expanding benefit coverage.

‘May report na binibigay; ‘di lang top of mind ko ‘yung total figure, [but] substantial in a way na ‘yun ‘yung dapat pagkunan for benefit expansion lalo na ng primary care,’ Mercado said.

The PhilHealth official added they already appealed to the Department of Budget and Management (DBM) and has also approached Pagcor officials for the release of the funds.

Mercado also added that PhilHealth is also awaiting the Supreme Court’s decision on whether the allocation will be considered a hard earmark.

He explained that the ‘benefit expansion thrust’ includes the ‘Yaman ng Kalusugan’ program, or ‘Yakap,’ an improved version of the PhilHealth’s ‘Konsulta’ package that promotes ‘preventive and primary healthcare.’ The state health insurer has allocated P15.3 billion for the implementation of the program.

According to Mercado, who is also a general surgeon, Yakap seeks to shift the country’s health system from ‘reactive to proactive,’ providing members with access to cancer screening, medical consultations, and maintenance medications through accredited clinics.

‘Primary care is our nearest effort for universality. When we say universality, all Filipinos are covered,’ he said.

PhilHealth Vice President Walter R. Bacareza noted that under the UHC Law, all Filipinos are considered members, making them automatically eligible for Yakap. According to Yakap Point Person Arrel Peter P. Pascual, more than 36 million Filipinos have already registered and selected their accredited clinics nationwide.

PhilHealth pays P1,700 per member to accredited clinics for Yakap services; those opting for private clinics will only need to pay a P900 annual co-payment.

Pascual added that 4Ps beneficiaries, senior citizens, and persons with disabilities may register for Yakap through the eGov app or at any clinic or hospital accredited by the PhilHealth.

Books have the power to cross borders, carrying the voices, experiences, and cultures of those who create them. This capacity to bring people together takes center stage at the Asia Stage of the Frankfurt Book Fair 2025. From October 15 to 19, illustrators, writers, publishers, and thought leaders from across Asia will gather to share their stories, celebrate their craft, and showcase the richness and diversity of Asian literature to the world.

The Asia Stage is the vision of Rex Education, brought to life in partnership with Frankfurt Buchmesse and supported by the National Book Development Board. Its journey began in 2018 as the ASEAN Forum, evolved into the ASEAN Stage in 2019, and in 2024, it embraced its current identity: the Asia Stage. What began as a noble idea to highlight regional publishing has grown into a recognized platform, a stage where the depth of Asia’s literary voices can shine on the global scene.

At the heart of this initiative is Atty. Dominador D. Buhain, Chairman and President of Rex Education. His lifelong passion for literature and publishing has guided this vision from the start. As a co-founder of the Asia Pacific Publishers Association and the ASEAN Book Publishers Association, he has long believed that the stories of Asia deserve a wider audience. Through this initiative, he has sought to open doors for publishers to share works that mirror their nations’ creativity, hopes, struggles, and resilience.

For REX, the Asia Stage has grown beyond a program. It has become a brand, a symbol of years of dedication to supporting Asian publishers and content creators at one of the world’s most important book fairs.

This year, with the Philippines as Guest of Honor, the Asia Stage brings a deeper dimension to the country’s participation. It reminds us that Filipino literature is part of a much larger story-one that connects with the voices and visions of Asia. For 5 days, the Asia Stage will host conversations, panels, and presentations that explore the education landscape, the evolving world of publishing, and the many ways culture continues to shape and inspire the region’s literature. Through this collaboration, REX and Frankfurt Buchmesse renew their shared commitment to uplifting Asian stories and ensuring that these voices continue to be heard, seen, championed, and remembered.

As the Frankfurt Book Fair opens its doors, the Asia Stage will stand with much gratitude and pride, inviting the world to witness and listen. It is a reminder that stories carry power. They connect us, inspire us, and transform us. For 5 days, Asia will speak, and the world will listen.

THE British Chamber of Commerce Philippines (BCCP), Shell Energy Philippines Inc. (SEPH), Colliers Philippines and BusinessMirror as a media partner jointly held the recently concluded ‘Powering Progress: A Look into the Philippine Clean Energy Transition’ event.

The discussion focused on national programs, initiatives, incentives and investment opportunities in the country’s ecozones, as it highlighted efforts between the public and private sector in the adoption of cleaner and sustainable technologies.

Philippine Economic Zone Authority (PEZA) Deputy Director General for Finance and Administration Maria Veronica Magsino reported that the agency has integrated the

Environmental, Social, and Governmental (ESG) principles in the ecozone.

Magsino shared that PEZA-approved solar manufacturing and solar power projects have reached 12 registered enterprises with an investment value of P70.548 billion and export value of $56.517 billion. It also reported that Registered Business Enterprises or RBEs using renewable energy (RE) reached 112 from both public and private ecozones, and a combined total kilowatt-peak of 223,584.83.

Meanwhile, SEPH President and CEO Bernd Krukenberg recognized the role of the private sector with the Philippines’ target of reaching 35 percent RE by 2030, and 50 percent by 2040 that is primarily driven by further liberalizing ownership in the renewable energy sector.

He also cited that financing mechanisms remain present in the country, allowing more opportunities for key players in the industry.

In his presentation, Krukenberg noted that, ‘we can help businesses thrive in a changing market. Whether you’re looking at your sustainability goals, planning the long term power needs for your business, or investing in energy productivity, Shell Energy is ready to be your strategic partner.’

He also reported that 20 percent of the UK’s gas supply is delivered through Shell’s owned and operated pipelines, noting further that the petroleum giant has acquired Nature Energy-Europe’s largest producer of renewable natural gas or RNG.

Additionally, for over a decade, Shell Energy has consistently ranked among the Top three natural gas marketers in North America, selling 10.5 billion cubic feet of natural gas per day.

BCCP Executive Vice Chair Chris Nelson noted that ‘Energy is crucial for industrial growth. If the Philippines is to develop its clean energy sector, it must ensure energy security, and renewables can be a significant driver of this transformation.’

Nelson furthered that ‘it is also important to have key partners such as Shell Energy Philippines whose long-term investment proves that the country remains a significant destination for businesses in the region.’

Metro Pacific Health Tech Corp., or mWell, has partnered with the Department of Information and Communications Technology (DICT) for an application-based integrated healthcare services that the public can access through the government’s eGov PH App.

As part of the partnership, mWell and DICT are working towards integrating the mWell Health ID into the eGov PH App, which already has 18 million registered users.

This planned integration positions mWell as the health engine behind DICT’s eGov platform, advancing a shared mission to make quality healthcare accessible to all Filipinos.

MWell is Metro Pacific Investments Corp.’s (MPIC) digital healthcare arm.

Manuel V. Pangilinan, MPIC and mWell chairman, said that the partnership will provide significant support for expanding mWell’s operations and coverage across the country.

Under the partnership, mWell’s infrastructure will provide offsite services for the public accessing healthcare services through the government’s one-stop shop eGovPH app.

The partnership provides for people accessing the app to consult with doctors, view medical records seamlessly, and access other health-related services.

The said partnership was signed in mWell’s primary care clinic in Bacoor. The said clinic was built to comply with the accreditation with Philippine Health Insurance Corp., officials said.

Officials said the partnership will also enable citizens to schedule onsite consultation with partner clinics and order medicine and health essentials.

Pangilinan said this aligns with mWell’s goal of providing nationwide, interoperable health services infrastructure that supports Universal Health Care goals and aligns with the government’s Digital Philippines agenda, including health programs such as the Yaman ng Kalusugan Program (YAKAP).

‘This partnership will be foundational in providing every Filipino their right to quality care. Healthcare is always among the top concerns of our countrymen. Together with government, we will close the healthcare gap and uplift quality of life in every community, and across every generation.’

Other areas of collaboration with the government, like permission to fly drones for delivering medicine to remote areas, he said.

June Cheryl Cabal-Revilla, mWell president and MPIC chief finance officer, said the delivery of medicines via drones have already been tested in areas in Laguna, Batangas and Ilocos.

‘The future of healthcare is now. This partnership brings together the country’s greatest minds and the biggest hearts committed to make the Philippines a global leader in digital health. By working closely with the DICT, we are creating a digital healthcare network where government, providers, and patients are united by technology and compassion,’ Revilla said.

‘It means a mother in a remote barangay can consult a doctor without leaving her community. It means young people can seek mind health support with dignity and privacy. It means families can keep their medical history safe for a lifetime. This is the promise of digital health that provides accessible, affordable, and inclusive care for all.’

AUSTRALIA is evaluating a request from the Philippines to review alternative biosecurity measures aimed at facilitating market access for local bananas in the country.

The Department of Agriculture, Fisheries and Forestry (DAFF) of Australia said the Philippines requested last March the consideration of an additional Cavendish cultivar and an additional export province that were not considered in its 2008 assessment.

DAFF said it will consider this request at the same time as the assessment of the Philippines’s alternative measures to manage Moko, black Sigatoka and banana freckle, which Manila submitted in 2018.

The three pathogens of concern were identified to pose a quarantine risk under Australia’s 2008 import risk analysis report, which required stringent risk management procedures before allowing trade.

Such measures included areas of low pest prevalence in combination with commercial production practices such as fungicide spray, visual inspection, and trash minimization.

However, DAFF noted that its proposed risk management measures were never finalized with the Philippines due to costs and technical challenges, thus restricting trade.

Currently, Australia does not allow inbound shipments of fresh bananas from any market.

The international agency said it would consider the Philippines’s risk management measures alternative to those proposed in 2008.

It also added reviewing the analysis report to ensure that evaluations of other pests are still appropriate, and to see if any new biosecurity threats have surfaced since the risk report was completed.

Despite this, DAFF clarified that conducting the assessment would not ensure trade for Philippine bananas in Australia.

‘The notification that we are conducting the assessment does not mean that trade will occur or is imminent. There are several steps still required before we can complete the assessment.’

The international agency noted that its officers will visit the Philippines later this year to see banana growing practices and understand the risks, controls, and feasibility of potential risk management measures.

‘We remain committed to upholding Australia’s biosecurity status and protecting domestic industries from pest and disease threats,’ DAFF said.

‘We will only agree to alternative measures if our assessment concludes the measures effectively manage the biosecurity risks associated with importing bananas from the Philippines to achieve Australia’s appropriate level of protection.’

However, Pilipino Banana Growers and Exporters Association (PBGEA) Executive Director Stephen Antig doubts that the country could secure market access for bananas to Australia.

‘Personally, I am not optimistic that we will have access to Australia. They always use biosecurity as a reason for not allowing our entry,’ Antig told the BusinessMirror.

The Philippines held a six-year streak as the world’s second-largest exporter of bananas before it slipped to third place in 2023 after being dislodged by Guatemala. It maintained the same spot last year.

The country’s banana output continued to be battered by the persistent spread of the Banana Fusarium Wilt Tropical Race 4 (TR4), also known as Panama disease.

Economic pressures remain the most urgent concern that Filipinos want President Ferdinand Marcos Jr. to prioritize and address, based of the PAHAYAG 2025 Third Quarter (PQ3-2025) survey.

The survey conducted from September 27 to 30, 2025, comprising 1,500 respondents who are registered Filipino voters, also showed that inflation emerges as the most pressing issue at 27 percent, as it continues to impact citizens’ purchasing power.

This is followed by rising government debt with 13 percent, labor market issues such as underemployment (10 percent), disasters and climate risks (10 percent), and higher food costs and supply disruptions (9 percent) caused by adverse weather conditions.

Meanwhile, 9 in ten registered voters express support for initiatives such as higher train fare discounts for students, senior citizens, and persons with disabilities (PWDs); lifestyle checks for all government officials; the passage of the Konektadong Pinoy Act in Congress; full implementation of PhilHealth’s ‘No Balance Billing’ policy and an expanded Konsulta package; a total ban on online gambling; and a legislative investigation of both Chambers into alleged irregularities in government flood control projects.

Voters also express strong support for the public release on the list of 15 contractors cornering 20 percent of the P545.65 billion flood control budget.of the the Department of Public Works and Highways with 86 percent, creation of the Independent Commission for Infrastructure (84 percent).

The launch of the ‘Sumbong ng Pangulo’ website got 82 percent support, the President’s State of the Nation Address statement ‘Mahiya naman kayo sa mga kababayan.’ (82 percent), the change of Senate leadership and Blue Ribbon Committee Chairmanship (79 percent).

Meanwhile, joint military drills with Australia and Canada in the South China Sea/West Philippine Sea were backed by the Filipino voters with 75 percent , inauguration of the new Forward Operating Base (FOB) in Batanes (75 percent), and House investigation on the alleged insertion of P8 billion for firearms procurement in the 2026 PNP budget (75 percent).

Primewater Infrastructure

About seven in ten Filipinos support recent government and congressional actions such as the House of Representatives’ probe into Villar-owned Primewater Infrastructure Corp., the Energy Regulatory Commission’s revocation of the permit of Villar-owned SIPCOR, and the use of Dalian trains on MRT-3, nearly nine years after they were first procured.

Suspension of rice and sugar importation

Meanwhile, voters supports the Department of Agriculture’s (DA’s) two-month suspension of rice and sugar importation (63 percent), along with the proposal to lower the minimum age requirement for those seeking the positions of President and Vice President (58 percent).

U.S. tariff policy, BSKE Postponement

The least supported measures include the postponement of the Barangay and Sangguniang Kabataan Elections (BSKE) to next year and the extension of term lengths to four years (44 percent) as well as the unilateral imposition of reciprocal tariffs on Philippine exports to the United States while certain U.S. goods remain tariff-free (31 percent).

Two high-profile issues

On the other hand, public opinion remains evenly divided on two high-profile issues: the impeachment complaint against Vice President Sara Duterte-declared unconstitutional by the Supreme Court (51 percent) and later archived by the Senate (46 percent)-and the removal of PNP Chief Gen. Nicolas Torre III, followed by the appointment of Lt. Gen. Jose Melencio Nartatez Jr. as Officer-in-Charge by President Marcos (49 percent).

Asiabest Group International Inc. (ABG) has called for a 10-day voluntary trading halt of its shares at the Philippine Stock Exchange (PSE) on ‘persistent calls’ from its shareholders and market participants.

The company’s shares were suspended for trading starting on Tuesday through October 28.

Asiabest, which is transforming itself into an infrastructure company, is offering shares worth up to P24.66 billion.

The company is also acquiring the infrastructure and real estate companies of its chairman, Francis Lloyd Chua, for P15 billion.

‘ABG has received calls from shareholders asking why a trading halt was not implemented, stressing that a short, orderly pause would allow full, transparent disclosure and proper price discovery,’ the company said.

‘Since our disclosures on the contemplated fold-in of Concrete Stone Corp., Industry Movers Corp. and Kabalayan (Housing Corp) via Premium Lands Corp., we have received persistent calls from shareholders and market participants for a short pause to ensure full transparency and proper price discovery.’

The specific concerns repeatedly raised include the basis of the company’s P150-million subscription into Concrete Stone, of 10 million primary shares at a discounted price of P15 per share.

‘How the price level relates to independent valuations, how it aligns with the integration plan, and how it impacts ABG’s post-transaction value. These concerns are echoed in public commentary that has amplified the risk of information asymmetry during this transition phase. In particular, recent market columns and commentary have characterized the situation as investors ‘flying blind’ on value until fuller materials are available, reinforcing investor calls for a short, orderly pause,’ the company said.

‘In the absence of the finalized valuations/appraisals and related supporting materials, continued trading risks mispricing of the trading of ABG shares and unequal access to material information. A temporary suspension will curb speculation until the Exchange can disseminate ABG’s complete submissions.’

It said while independent appraisals and valuation reports are being finalized, continued trading risks mispricing and unequal access to material information.

In exchange for the three companies that will be folded into Asiabest, Chua’s Industry Holdings and Development Corp. and Premium Lands will subscribe to up to 600 million new Asiabest common shares at an issue price of P25 per share.

The capital increase will also allow Asiabest to undertake its planned follow-on offering of 300 million up to 620 million primary common shares. The capital hike is still subject to approval by stockholders and the Securities and Exchange Commission.

Asiabest shares were last traded on Monday and closed at P26.95 apiece.

Bistro Group’s beloved TGIFriday’s and Italianni’s are making their way up north! These fan-favorite casual dining restaurants will crank up the flavor and double the fun as they roll into SM City Laoag this October.

TGIFriday’s 30th Store On Its 30Th Year

American casual dining chain TGIFriday’s opened last October 8, marking its 30th location as it celebrates 30 years in the Philippines, reflecting the brand’s enduring popularity for decades. It arrives at the mall as the go-to spot for high-energy ambiance. Get your fill on the popular Fried Mozzarella, tender fall-off-the-bone Ribs, Burgers, Bottomless Mojitos, and more. Bring your friends and family and make countless memories where it’s always Friday. Have a couple of drinks by the bar and be captivated by the bartending flair or catch up with an old friend over American food that always hits the spot.

Italianni’s

Buon Appetito! Delight in delicious and hearty Italian-American dishes at the Upper Ground Level, Italianni’s SM City Laoag. Now open, the best of Italianni’s awaits you!

Start the feast with freshly baked focaccia and Tuscan bread dipped in olive oil and balsamic vinegar. Treat yourself to a wide selection of fresh salads, al dente pasta in all shapes, oils, and sauces, delectable oven-baked pizzas, and meaty mains that will satisfy your palate. Whether it’s a relaxing dinner after work, a family gathering, or a romantic date, Italianni’s is where there’s good company and dishes served with warmth and generosity.

Residents and tourists are invited to enjoy the hearty flavors and fun dining experiences in these two new vibrant gathering places.

The Philippine Embassy will launch an eVisa for Chinese nationals in China in November, as part of continuing efforts to strengthen people-to-people exchange and facilitate trade and tourism.

‘I am pleased to announce that the Philippine Embassy in Beijing, as well as our Consulates in Chongqing, Guangzhou, Hong Kong, Macau, Shanghai, and Xiamen, will soon begin issuing Philippine electronic visas to qualified applicants residing in Mainland China and its Special Administrative Regions, enabling applications to be made online and making the visa application process more convenient for those making a temporary visit to the Philippines,’ said Philippine Ambassador Jaime FlorCruz.

Chinese applicants who will visit the Philippines for tourism or business purposes can apply for the eVisa if they are travelling for a non-extendable period of 14 days. They should enter through the Ninoy Aquino International Airport in Metro Manila or the Mactan-Cebu International Airport.

The Philippine Embassy will soon provide more details about the eVisa, including the relevant websites and procedures for the submission of requirements, in collaboration with the Department of Information and Communications Technology (DICT) and VFS Global in China. FlorCruz signed on Wednesday a Memorandum of Agreement with VFS Global to implement the project.

Chinese travelers who wish to stay in the Philippines for more than 14 days, as well as other eligible nationals living in China, may still apply for the conventional visa through the nearest Visa Application Centers that will open in Beijing, Chongqing, Fuzhou, Guangzhou, Hong Kong, and Shanghai.

‘The implementation of the eVisa comes at an opportune time,’ said FlorCruz. ‘Under the leadership of Secretary Ma. Theresa Lazaro, the Department of Foreign Affairs met with the Chinese Ministry of Foreign Affairs in July 2025 for the Joint Consular Consultations,’ he added.

IT’S been five days since that unforgettable triple overtime game between the Ateneo Blue Eagles and the University of Santo Tomas (UST) Growling Tigers at the shiny and spanking clean Blue Eagle Gym.

But we’re still incredulous. And fascinated. Because it was not just the Ateneo de Manila and UST athletes who were playing that game. Our collective experience as spectators who witnessed the game and went through the rise and fall and rise and fall of every extension period, made us very much a part of the action, be it only in the fringes of the hardcourt.

It was, they said, a historical game for the University Athletic Association of the Philippines (UAAP). The first-ever triple overtime game in the men’s basketball tournament of the league has been marked and written in the annals of the league.

Games that go beyond the regular period don’t really come very often either. And double overtimes are even more rare. But a game that goes into triple overtime? That feels like a ‘Super Blue Blood Moon’! (A Super Blue Blood Moon is the rarest kind of moon there is because it requires circumstances for a Blue Moon-two full moons in a month-to happen together with conditions for a Blood Moon-a total lunar eclipse-for it to take place.

Super Blue Blood Moons occur only once every 37 years!

But we digress. That October 11 game was long-drawn, draining and exasperating. But at the end of it all, it was ironically, exhilarating. At times it felt like The Gunfight at OK Corral with the relentless exchange of shots from both sides of the court. It also felt like a roller coaster ride that alternately took us on loop de loops of tit-for-tat scoring, then left us suspended in midcourse brakes as the score remained tied for a seeming eternity.. Then we plummet down again into no-brakes, unscripted action.

How long will this game last? We asked ourselves. How many overtimes can the players and the crowd still absorb?

We thought: in the end it will all come down to conditioning. And then again, we surmised: it will all boil down to heart.

And that’s what we saw. The Growling Tigers led by Nic Cabañero and Gelo Crisostomo pushing, pushing, pushing-performing like a trusty tool running on Energizer batteries.

On the other side we saw cramps and injuries weighing down the Eagles’ wings, tired nerves and unaligned meridians affecting shots. But a brave Eagle named Jared Bahay carried the weight of the whole Eagle convocation on his young shoulders and let his heart rule his shots.

They found their mark too. But the Tigers always clawed back.

Then the third overtime rolled in. And big though the heart is, it was no match for the Tigers that pounced on every visible weakness or hesitation of the opponent.

Finally the game ended, to most everyone’s relief. And no matter what physical or mental state one was in after that once in a lifetime encounter-tired, spent, drained, wrung out, dejected, euphoric-all agreed it was an adventure that had no precedent in this side of collegiate basketball.

To be honest, there have been games with more than three overtimes in basketball history. An National Basketball Association game between the Indianapolis Olympians and the Rochester Royals in 1951, which Indianapolis won, 75-73, had six overtimes.

In 1981, the Bradley Braves lost to the visiting Cincinnatti Bearcats, also 75-73, in the longest men’s collegiate basketball game ever played, which had seven overtimes. A little-used bench player named Doug Schloemer scored on a 15-foot jumper with one second remaining to finally settle the score.

In hoop history the longest game ever played was one between the Boone Trail Pioneers and the Angier Bulldogs in a high school championship in North Carolina in 1964. Though the game observed unique time limits-eight minutes a quarter and three minutes of overtime-it still went overboard, time-wise.

There were 13 overtimes in this one, with both teams failing to score in nine of the 13 extensions. After three hours and 25 minutes, someone finally scored and the Pioneers won, 56-54, just before midnight. It is considered to be the longest high school basketball game on record.

Actually, there is no limit to the number of overtimes a basketball game can have. The rule says there must be continuous play until a winner scores the winning basket.

The mantra therefore in playing evenly-matched basketball should be ‘Matira ang matibay.’ And the battle cry ‘Patay kung patay.’